With 96% of B2B marketers engaged in video marketing, video is poised to be the new darling of the marketing world. Video can (and should) be an essential component of every business’s marketing strategy regardless of the product for sale or target audience.
As a visual medium, video has a powerful influence far surpassing written content: according to Forrester Research, it would take almost five months to produce enough written content to create the impact of 60 seconds of video. In fact, four times as many customers would prefer to watch a video about a product rather than read about it.
For companies looking to market on a global scale, video has the potential to reach far more buyers as visuals can be effective at bridging language gaps.
To have an effective marketing plan in place for 2017, companies must adopt the most relevant and innovative strategies. That is the key to growth. Being open to trying new digital marketing strategies – as they just might appeal to a new demographic, discover a new channel, or find a different approach to branding – go a long way in facilitating expansion. Video marketing is a proven initiative several reasons, the number one reason being that video creates a comfort level for consumers because they connect a face and voice to a company.
Businesses of any size will find that money spent on professionally shot video provides a rewarding return on investment (ROI). Studies have shown that businesses which implemented video marketing grew revenue 49% faster year-over-year than businesses that did not. While it costs an average of $115 in marketing funds to convert a sales lead using non-video marketing, it costs just $93 to convert a lead using video marketing. Video provides a measurable boost to web traffic and sales conversions that we simply don’t see with other forms of marketing: landing page conversions, for example, increase 80% when video is included. The costs of video production have also dipped significantly as technology has improved and become less expensive. For businesses with tiny budgets, amateur content can be produced using a smart phone or tablet.
Search engine optimization (SEO) is also heavily influenced by video content. Google, the world’s largest search engine, incorporates video in nearly 62% of all search results. And its subsidiary, YouTube, features 300 hours of new video every minute. The draw of YouTube is enormous: in 2015, YouTube viewing time increased 74% among 18-49 year-olds. Given these statistics, it’s not surprising that video increases the chance of getting a page one search engine ranking 50 times.
Providing viewers with content that is entertaining, educational or otherwise valuable will increase dwell time (or session duration) – a key factor in SEO – and encourage sharing. Valuable video content serves to promote a positive brand image (and build trust), increase brand awareness (through dwell time and sharing) and demonstrate thought leadership. Once a positive impression is made, the user will share the video with friends. Video expands a company’s brand recognition while opening up additional channels for sales and promotion.
Video marketing allows businesses to track engagement better, to pinpoint where in the world customers reside, when they “turn on” a video and when users are driven to purchase. These details provide the information necessary to fine tune a video marketing campaign to attract an even greater audience, and in turn, greater sales and ROI.
Asad Khan is the President and founder of ePlanet Communications Inc. Being a founder and co-founder of multiple companies around the globe, ranging from banking to digital distribution, venture capitals, nutraceuticals, logistics, and BPOs, Khan is well versed with the dynamics of business trends and specifically the value in Business Process Outsourcing.
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