Video marketing is one of the most significant concepts in present-day digital marketing. It delivers consistent results, drives sales like nothing else and is used by the majority of digital marketers. The problem is that in order to have a successful video marketing campaign, you need to invest in it quite heavily. Your marketing budget is supposed to be between 10% and 50% of your average annual revenue (depending on the industry). A significant part of this budget should go towards professional video production and an overall video marketing campaign. Here’s what you should have in mind.
1. An easier way to build consumer trust
The first major advantage of the video marketing campaign is that it increases consumer trust more efficiently. Namely, defense mechanisms are naturally lower when immersion is on a higher level. While reading, your audience has only one of their senses occupied, which leaves quite a bit of their mental capability active and ready to respond to any kind of branded message. You see, online offers are often interpreted as deceiving or hostile. This is why about 84% of consumers are more likely to buy after watching a brand’s video.
2. The pandemic increases the number of hours watched
The global pandemic is another compelling reason to turn towards video marketing. You see, marketing methods like hosting live events are no longer a possibility, which leaves you with more room in your budget for digital marketing. With people spending so much time indoors, people consume more video content than ever before. With a lot of people behind desktop monitors and laptop screens, videos intended for larger screen formats are also undergoing a rapid rise in popularity. In other words, 2020, 2021 and the future seem to be primarily video-oriented.
3. Incredible ROI
The next thing you need to keep in mind is the fact that about 86% of all those who use video marketing have increased traffic to their website. You see, before buying, people want to get to know more about your brand and your product. These instructions may also unburden your customer service, seeing as how the videos will educate them on the product. The key lies in the fact that investing in video marketing increases traffic, sales and leaves less work for your customer support. In other words, it has a great ROI.
4. Criteria are higher
The main reason why you need to hire video production experts is that the criteria are much higher than ever before. You see, people who watch too much video content have a keen eye for all mistakes and irregularities. They also have a higher appreciation for quality video content. The skill in video production, a well-tailored script and great camerawork give much better results with audiences oversaturated with video content. According to some estimates, in 2021, people watch about 18 hours of online video per week. This is why insisting on the quality of your content is the only way to distinguish your brand.
5. Higher engagement
The problem with content is that you need people to read/watch it to its fullest in order to get the most value. Engagement also requires shares, comments and likes (despite some of these being described as vanity metrics), in order to see their effectiveness. Facts are that videos are more likely to be shared on social networks, which automatically gives them a much greater reach. So, you need to ask yourself a philosophical question – what is a value of a content piece that no one is going to read/watch? Remember that a branded content is an asset and not a piece of art. Through higher engagement, quality-made video content has a higher value.
Even if you decide not to invest in video marketing, chances are that you won’t be able to make a significant saving. In fact, you’re more likely to use this uninvested part of your budget into a different (less-effective) marketing method, which will result in you getting outcompeted. The risk of getting left behind is a powerful motivator, indeed. You see, if this method is effective and you’re the only one not using it, you’re creating a greater gap between you and the rest of the industry. This is something you should never allow.
7. Great for so many channels
The key responsibility of every marketer is to locate and identify their target audience. However, regardless of the social network they prefer, video is always an appropriate format. For instance, Instagram allows videos in both stories (15 seconds long) and regular posts. For YouTube, video is a default format. On Facebook, about 100 million hours of video get watched every single day. Videos are also popular on Twitter and LinkedIn. Overall, regardless of your target demographic and their network of choice, chances are that reaching them via video marketing is a good idea.
8. A trend of growth
Transitioning into a new marketing method is quite difficult. This is why it’s always good to preemptively invest in a marketing technique that might grow in the nearest future. The thing with video marketing is that it has an uninterrupted trend of growth for quite a bit now. This means that it is bigger this year than it was in 2020 and it will be even bigger in 2021. This is why it is one investment that will definitely not go to waste. Even with the emergence of AR and VR, it will be years until the majority of people have devices capable of playing them.
In the end, investing in your video marketing campaign should not be seen as optional in 2021. It is something that every business needs to do, to a degree, and find a way how to make it fit its own respective industry. Overall, investing in your video marketing campaign is such an important issue and once you understand why it will be quite easy to find the motivations and resources to actually commit to. With the above-listed eight reasons, this becomes even more apparent.