The Importance of Video Marketing in 2021
Over the last decade, video marketing has continued to grow exponentially year-on-year and is accelerating due to the Covid-19 pandemic. As people spend more time at home on their smartphones and devices, video is fast becoming a common way to consume media and buy products.
A report from ClickZ shows that 80% of consumers increased digital content consumption since the start of the Covid-19 outbreak. The need to remain socially distant but still wanting to discover and interact with products adds a tremendous amount of appeal to video.
The Cisco Visual Networking Index forecasts that video traffic will quadruple by 2022, accounting for 82% of all online traffic. People are embracing Ultra-High Definition (UHD) and 4K streaming, which, coupled with the introduction of 5G, will create faultless video experiences for consumers.
This article discusses some of the ways video marketing is proving to be a winning strategy for brands.
Increasing website traffic
80% of marketers say that video increases dwell time on their website. Beyond the fact that keeping people on your site means there is a better chance they will convert, it is also a valuable Google ranking metric. When the Google crawlers notice people staying on a website for longer, they assume it means the content is high-quality and relevant.
The other crucial metric videos influence is the bounce rate. Utilising video on a website gives viewers digestible content and keeps them interacting with the page. Google looks at this favourably in search results, assuming that visitors are served with the content they are looking for instead of immediately hitting the back button.
According to a MistMedia study, 88% of visitors will stay on a website with a prominent video displayed, and those stating longer are 64% more likely to make a purchase.
Ikea uses Instagram videos to boost website traffic by intriguing viewers with a glimpse of a product. The video below for an anti-slip mat builds interest for an item that makes followers want to click through to the website, increasing traffic and ensuring a low bounce rate as they navigate to find a specific page.
Creating brand awareness
TikTok is currently the most popular app in stores, outperforming Facebook, Instagram, and other social media platforms. The short-form video format is becoming a fashionable way for brands to show a different side to their personality and generate awareness. For younger Millennial and Gen Z audiences, TikTok is the place that brands need to be if they want to be seen.
In 2020, amidst the coronavirus pandemic, the travel airline Ryanair drove forward with a TikTok marketing strategy to keep their brand relevant in times of adversity. At a time where people are not able to fly, keeping them aware of your brand is an almighty challenge. Take a look below at the number of views RyanAir achieves from its short and topical videos.
RyanAir makes a relatively mundane airline seem fun and cool to the younger demographics. Most videos use recent music and trends to draw engagement. When air travel is possible, RyanAir may well be at the forefront of the consumer’s mind.
HubSpot research shows that 97% of marketers say video helps users better understand their products or services. There are several ways that explainer videos can help acquire customers, increase sales, and improve conversion.
- Clarify the objective of your products. Although you might think the text description is adequate, a video takes the guesswork out of the buying process. If a business is offering complex services, a video can help to simplify them.
- Gets immediate attention to keep visitors on the site.
- Increases conversion rates. A Video Rascal survey shows that 85% of people are more likely to buy a product when it has an explainer video.
- Information retention. On average, people will retain 50% of the information they see but only 10% of what they hear.
- Videos are easy to share on other platforms such as social media. If you scan your social feeds, there is every chance you’ll see various product explainers that other users are sharing.
The online graphic design site Canva provides prospective customers with a 30-second YouTube video to show how easy its services are to use. It looks like the video was made by recording a screen in-house, meaning it cost next to nothing and serves a great purpose.
A video marketing strategy is not all about directly selling to the consumer. Simple yet effective educational videos can do an excellent job of converting customers. When consumers were asked about the type of video content they would like to see more brands, explainers came out on top with 39%.
Video on social media
Without a doubt, social media is one of the best ways to drive brand awareness. Followers can share your content, quickly unlocking new audiences and delivering new customers for your business. However, as feeds become more saturated and social advertising more expensive, you need to find unique ways to cut through the competition.
Video content generates a whopping 1,200% more shares on social media than text and image combined. Over 80% of Twitter users prefer video over text, and YouTube is the second largest online search engine after Google.
90% of people are discovering new brands or products through YouTube videos and having a presence on the channel is imperative to remain competitive. The majority of YouTube watch time (over 70%) is via mobile devices and will continue to grow during and after the pandemic.
85% of marketers say the Facebook video platform is successful for them. It is true that it might not necessarily be your target market, but with millions of people accessing Facebook daily, it is fundamental to test it. The same can be said for TikTok, Instagram, and LinkedIn, which all offer video capability.
Research by Harris Interactive/RightNow shows the top reason customers leave a brand is that they feel poorly treated by staff or a failure to resolve their problem promptly. Customer support videos can ensure they get the help they need, when they want it, in a consistent format. A twenty-minute customer support call could be reduced into a 60-second video, resulting in a satisfied consumer and lower business costs.
The software company, MuleSoft, has an FAQ page made up almost entirely of video content to resolve nearly any issue customers could be facing. Digital assistance is more pivotal than ever, where remote working looks to be here to stay.
Video content is here to stay, and marketers need to invest time and money into their video strategies. Although the landscape is constantly evolving, the bottom line is that video marketing can increase sales, revenue, and retention, while also building brand awareness and improving customer experiences.
Moreover, as technology advances, video production is no longer a costly business function. Small businesses and freelancers can use their smartphones and online tools to create compelling content for target audiences. With clear objectives and messaging, any video content can prove to be successful.
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