Top 4 Benefits of Video Marketing for Your Business Growth
You’ve probably heard it already – video is the biggest thing in the world of marketing right now. With everyone out there pushing you to invest your hard-earned cash into creating and promoting videos, you’re probably wondering whether it’s a good investment for your business or not.
As it turns out, video actually is as powerful as everyone is claiming it to be. Today, I’ve gathered some of the most compelling benefits of using video to drive your business’ growth. No matter your niche or company size, read on to find out why you need to leverage the power of video.
Consumers watch a LOT of videos
If you were to make a guess on the second most popular activity online besides social media, what would you bet your money on? It’s video, of course. According to Smart Insights, the two most popular online activities globally are social media and video.
In fact, combine the two and you get some powerful numbers. According to Facebook, its users watch more than 100 million hours of video every day and 45% of its users watch more than 4 hours of video every week.
If you think that there’s some push by marketers that is driving all these numbers, think again. The reason why there is so much video is that consumers are demanding it – 43% of all consumers actually want to see more video content being made.
Finally, all of the predictions regarding the future of video are looking very bright. According to Hubspot and Business Insider, by 2021, 82% of all traffic online will go to videos. As you probably already know, the majority of this traffic will come from mobile devices.
Research states that 90% of all video views come from mobile already and things are only looking better in the future. As YouTube themselves state, mobile traffic growth to their videos is a staggering 100% year on year. As more and more consumers use their mobile devices for shopping, this will be a great strategy to utilize in the years to come.
There are many ways you can go about using video for marketing, such as including video on your website or putting up clips on your YouTube channel. If you decide on the latter – great news. After Google, YouTube is the world’s largest search engine that has more than 1.3 billion monthly users. While there are pros and cons to putting a video on YouTube as opposed to your own website, having videos on this platform is a massive opportunity to get seen and make some profit.
If social media’s your preferred outlet for posting your videos, it’s an excellent choice. Facebook’s algorithm is known to favor paid posts, but for organic traffic, video gets excellent results. One study suggests that videos get 1200% more social shares than text and image posts combined. Additionally, having videos on your Facebook page will increase your average engagement by as much as 30%.
Video helps you sell more
If you were to pit two product pages against each other – one with video and one without it, the one that has video would win every time. In fact, according to Neil Patel, having a product video will increase your conversions by as much as 144%.
Then there’s the all-important SEO. One of the most effective ways of getting new visitors and customers, SEO is becoming a top priority for marketers worldwide. It’s no surprise that adding video to your website can do wonders for your SEO as well. In fact, according to Moovly, just having a video on your product or landing page makes it 53 times more likely to show up on the first page of search engine results pages. You’ve probably noticed that Google tends to put a few video results before your usual pages, so you can grab a chance to appear here for your desired keywords, provided you do some research and optimize your video titles well.
Maybe you’re not focusing your efforts on SEO, but you surely do at least some email marketing. Once again, combining the power of email and video can get some excellent results. In fact, having a video in your email can increase your open rates by 20% and double or triple your click-through rate.
Here’s another interesting fact – just mentioning the word video in the email subject can have a positive effect on your overall metrics. It will increase your open rates by 19% and click-through rates by 65%.
In the end, it all boils down to numbers. What good is a fancy video that consumers love watching if it doesn’t make any sales? Fortunately, video is one of the most powerful marketing assets. Research has shown that 88% of marketers who use video are happy with the return on investment from this platform. More specifically, 80% of video marketers with the ROI they get from video ads.
It’s not just the great return on investment, the reason why marketers love video is that the leads they do get are higher quality. According to Optimonster, companies that use video marketing get 66% more qualified leads annually. Not only will you spend less money on marketing, but the results you get will actually be better!
Video grabs the visitors’ attention
Standing out with your content is harder by the day. As new companies realize the power of content marketing, there are hundreds of thousands of blog posts pushed out every day. No matter how insightful, original and exciting your new article is, at the end of the day, it’s a drop in the ocean of online text. Competition is becoming more difficult to beat if you’re just doing written content.
On the other hand, there are not so many people investing time and money in video. It takes more effort and not everybody can just sit and record a jaw-dropping clip in a few hours that it would take to churn out a blog post. As a result, video gets more engagement and time spent on it than text. As a matter of fact, 65% of video viewers watch ¾ of a video every time. Getting this kind of engagement with written content is far from possible in 2019 and beyond.
Even if your purpose is not to sell immediately, it’s beneficial to have videos on your page. The reason is simple – visitors spend 88% more time on pages that contain video compared to those without them. If you’re looking to drive traffic to a page and keep visitors’ eyes peeled longer, simply include a video.
Let’s translate that into what matters – marketing language. If you give consumers two options to find out more about a product, using video or text, 72% of them will choose video to inform themselves about a product they’re interested in.
Video can show the ins and outs of your product
How many times have you set out to buy something and typed in the product in YouTube first, before going anywhere else? You’re not alone – according to research by Animoto, videos are pivotal for consumers when making a purchasing decision.
According to this research, four times as many consumers prefer watching a video about a product instead of reading about it. Moreover, not having video as part of your marketing strategy can actually harm your conversions – one in four consumers will lose interest in a product if there’s no video to accompany it.
Then there’s the issue of how a product works. For something as simple as a pair of sneakers, there’s no need for a video to showcase what the product can do – unless you want to get really creative. On the other hand, if you have something innovative and groundbreaking, consumers will want to know how it works before making a purchasing decision. Animoto’s study confirms this – 4 out of 5 consumers state it’s important for a product to have a video showing how it is used. At Chanty, we’re just recording a batch of videos to show how the product is used.
Once they see the video and your product, consumers are also more likely to remember the details. In fact, one research showed that 95% of people who watch video remember the call to action, compared to just 10% of people who saw the CTA in written format.
The video movement has been growing strong for the past couple of years and it shows no signs of slowing down. Simply put, as a marketing tool, there are no platforms out there at the moment that are as powerful as video. Combine it with the immense return on investment and the kind of engagement videos can produce and it’s clear that it’s the undisputable king of marketing at the moment and in the many years to come.
While making and promoting videos is a task easier said than done, there’s a host of new tools available in the market to cope with the increasing demand. For example, you can try Moovly to easily make videos instead of churning out fortunes for expensive gear and professionals to polish it up.
Mile Živković is a content writer and work-life balance expert at Chanty – a simple and AI-powered Slack alternative. When Mile isn’t busy writing epic posts on productivity, work-life balance and time management for Chanty blog, he’s probably driving somewhere. His hobbies include cars (huge fan of Alfa Romeo), photography and collecting pocket knives. You can catch him on LinkedIn.