Did you know that 93% of businesses reported gaining a new customer as a direct result of a video posted on social media (Animoto) ? How about the fact that of businesses using video marketing, 76% reported an increase in traffic due to video (Wyzowl)?
Without a doubt, video marketing is one of the newest critical tools for your your online marketing strategy. However, you might still have doubts. Is it really worth it to use video marketing to promote your company if you are a 1-2 member team?
The answer is quite simple – yes, it is worth it. Not only is it popular because videos are one of the most profitable and versatile type of marketing; video marketing is bringing more clients to more businesses.
Let’s take a look at the reasons why video marketing is important:
1. More and more people want to watch video
On YouTube, more than 100 million users are watching or engaging with at least one video every week. (Simply Measured)
Organic Facebook engagement is highest on posts with videos (13.9%), with photos coming in second (13.7%). (Locowise)
Videos make a visual connection with people which can drive emotional engagement in a way that text just won’t. Yes, text is still important, but reading text takes more concentrated attention than watching or listening to a video.
2. Video marketing builds trust
When you embrace the benefits of video marketing, you will be establishing yourself as a thought leader and an influencer in your service or industry because you’re sharing informative content about how something works, what a service does, or just pure entertainment.
But even more important, people love to know you are a real live person. This is why social media marketing can be great at establishing connections and building relationships. Video marketing is something of a shortcut in this regard, because every minute you’re talking to your target audience is a minute that they’re understanding what you’re about, what you do and why they should trust you.
3. Video boosts sales & conversions
Sales are essential for your business, so anything you can do to improve your conversion rate and take prospects through the journey into becoming paying customers, has to help.
How we consume and understand information is different for every one of us, so a combination of pictures and words is important to cover all bases. This is why I strongly advise that my clients use visual based social media such as Instagram, alongside more traditionally text-based platforms like LinkedIn.
When it comes to effectiveness, 84% of consumers surveyed were convinced to buy a product or service after watching a brand’s video. (Neil Patel). Which makes sense, because you’re using pictures and words in a video to get your important points across, show what you do, answer questions or simply have a direct conversation with your audience.
4. One benefit of video marketing is a great return on investment (ROI)
Marketing can take a lot of time so your return on your investment is important. Video is one of the methods with the highest ROI. 83% of marketers say video gives them a good ROI (up from 78% in 2018 (Wyzowl).
You might think it’s expensive to produce a professional video, and yes, it certainly can be if you outsource to professionals who are using studios, lights, sound, etc but as a small business or service provider, you can simply hop on to social media and do a livestream series for free.
If you’re not quite ready to go live just yet (I know, it can be scary!) then you can always use a video recorder like Zoom instead. Set it to screen share and talk over what you’re doing for a “how to” style video, you could go through your portfolio of recent work talking about what you did and what the finished product looks like, or just walk through common questions sent to you by clients and leads.
You don’t have to put yourself in front of the camera to make video marketing work for your business. However you use video, consistency and effort can be rewarding.
5. Mobile users love video marketing
According to YouTube, mobile video consumption grows by 100% every year. Mobile phones and videos go hand in hand since 90 percent of consumers watch video on their smartphones. Since people enjoy watching videos and the number of smartphone owners/users is also on the rise, your audience has the potential to just get bigger and bigger.
6. Video encourages social shares
Social media platforms have encouraged more video content with their new features. For example, Facebook launched livestream videos, Linkedin is doing something similar, Instagram is capitalizing on 60-second video features and Instagram stories, and more. As a service provider, you should think of ways to create fun, informative and entertaining videos that will encourage your consumers to share your content on their own social media accounts.
7. Creating and sharing video is much more affordable now than ever
Some entrepreneurs shy away from video marketing because they feel they have to invest heavily in expensive professional cameras, editing, and videography. While you certainly can do that, you don’t have to!
Platforms like Facebook and Instagram encourage you to post authentic live video that you shoot from your cell phone. Everyone these days owns a smartphone, and one benefit of video marketing from your phone on-the-go is it can help your brand be visible in a major way. Just remember to be yourself and share behind-the-scenes information, introduce your team, share your expert knowledge and demonstrate your new products and services.
If you want a more professional look, you can invest in a reasonably-priced video camera and get editing software without breaking the bank. There’s no need to overspend to have the equipment you need to upscale. Sharing your personal brand and promoting your videos is more important.
8. Using video gives offers more cross-platform opportunities
Video can be shared in a number of platforms. If you create one in YouTube, you can share that same content on other pages such as LinkedIn, Pinterest, your blog and more. Using an app like Repurpose.io can help you change your videos from one size to other sizes, such as going from horizontal to vertical or square.
9. Video marketing helps drive purchasing decisions
People love video because they feel like they are getting to know you personally. It builds the know, like, and trust factors faster than any other type of media. This means another benefit of video marketing is it directly impacts your bottom line by influencing buying decisions.
In fact, 90% of consumers say that product videos directly inform purchase decisions. Over half of marketers rank video as the best medium in terms of ROI (Forbes).
If you want people to buy your products and services, use video to promote it. Not only will you get better engagement, but you’ll also be directly driving leads to make a buying decision.
10. Video is easier to repurpose than other online content
One final benefit of video marketing is that it give you the opportunity to convert one format into many different formats. In our Repurpose Your Livestream Challenge, I teach how to take one Facebook live video and convert it into at least four other types – i.e. text blog, infographic, audio, and more.
Starting with video gives you much more versatility when it comes time to repurpose your content so that people can consume it in the way they prefer most.
Video marketing is a very powerful form of marketing and more and more business owners are taking advantage of it. Of course, recording it can be a scary prospect when you’re putting yourself in front of a camera, but video can also be a fantastic way of increasing sales and getting noticed by your target audience. That makes the benefits of video marketing well worth getting over the fear!