Businesses invest a major portion of their revenue in the marketing department to attract new customers to their products/services and keep the existing ones loyal to them. However, an underutilized area of marketing is video. Most businesses seem to avoid it because of the high cost of video production. However, the higher cost also gives you incredible benefits in terms of higher sales and revenues. Below, we look at seven reasons why your business must start using video marketing.
Increased Conversion Rates
All marketing tactics aim for one thing – conversions. The higher conversions a tactic generates, the more successful it is in fulfilling its purpose. And this is where video marketing shines. According to an estimate, adding a video on the landing page of the websites boosted conversions by almost 80%. Another study found that more than 70% customers who were exposed to an explainer video eventually bought the product. With such impressive statistics, it should be easy to understand why it is important that you start focusing on video marketing. And remember to hire good video production firms like Lenzworks to ensure that the marketing video created is top-notch and highly impactful.
Exploit Search Engines
Search engines seem to love websites that have videos. And this mostly has to do with the fact that visitors tend to fully watch the videos they are interested in. As a result, they end up being on a site for long periods of time, which increases the value of the website as far as search engines are concerned. According to some estimates, having a video embedded on your website increases your chances of appearing on the first page of Google by 53 times. And this is a figure that no serious marketer can ever ignore.
If your product depends on evoking the emotions of the user, then video marketing is the way to go forward. For example, suppose that you manufacture soap. Through video marketing, you can show the soap in a very luxurious environment and subtly imply how your product is good for the skin. This will have a far better impact on a customer’s mind than a mere photo advert.
Videos are also a great way to explain your product. Suppose that you are a tech firm which has launched a new software in the market. If you just use a text and image-based advertisement, the customers may not be able to fully grasp the utility of the product. In contrast, when you use a video to show how the product works, then the prospective customer will immediately get a good idea of how it can be useful for them. And this increases the chance of a sale. So, if you think that your product is too complicated that the public might not understand its use properly with just text-based adverts, then video marketing is definitely the best option.
Get The Content Viral
The holy grail of online marketing is viral content. If your content goes viral on social media, then your business will be exposed to millions of people. And nothing on the web generates as much viral traffic as videos. With some smart marketing, you can make these visitors check out your website. In fact, you can get thousands of orders for your online products literally overnight with a well-crafted video that goes viral. In a survey, it was found that more than 75% people will choose to share a video with their friends if it was branded and enjoyable.
Any investment has to generate profitable returns for it to be economically viable. And when it comes to video marketing, the Return On Investment (ROI) is very impressive. In a study, it was found that websites that used videos have a conversion rate of 2.9%. But when it came to sites with videos, the conversion rate jumped to 4.8%. That is an increase of more than 60%. Now, imagine a 60% increase in the sales through your website by just adding a video and you will get a good idea of how excellent video marketing is.
Good Reach To Mobile Users
Videos also have an excellent appeal to mobile users. So, if your website is geared mostly towards this demographic, then you should definitely consider adding videos. It’s estimated that the consumption of videos through mobile in doubling every single year. As such, the market share of video consumption through mobile phones will only keep increasing in the future. Combined with the excellent response rates that videos generate, targeting mobile users through video will definitely provide a big boost to your business.