We’re going to explore 5 reasons why you should be using Video Marketing today! 5 different ways using Video Marketing can boost your business. Below are 5 of the biggest reasons why we at Tommy KNOWS Marketing are huge proponents of using Videos in our marketing campaigns that we create for businesses like Yours!
Video Marketing Gives You More Bang For Your Business Buck
We are often asked is video marketing worth it?
How can it help MY business?
What kind of return can I expect on your investment, and how soon?
If you’re thinking about adding or expanding your video content game, you’re probably pondering these questions – and more.
Today we’re going to examine some of the most powerful and compelling benefits of video marketing. We’ll also look at all the different ways they boost your business.
Once you read through these 5 video marketing benefits, you’ll know for sure if it’s going to be worth your time, energy, and budget! So let’s begin with the most obvious one…
1. Greatly Increased Engagement
Simply put when it is done well, video can demand a reaction. A view, a comment, a like or share, a click-through, a purchase… it’s much harder to get the same effect with other types of content.
If you could use more engagement from your target market across the board:
- On your email list…
- On your social media channels…
- On your website…
…so basically you name it – video marketing will help you get there much faster than text, images, or audio. For example, just mentioning the word “video” in your email subject line can boost up your opening rates!! And you can often see similar results across the board.
2. Helps You Reach a New Audience
Sure there will always be a few people that will prefer to see it in writing, BUT most would much rather watch a video than read something. Although while these two audiences do overlap somewhat, there are plenty of customers in either camp who will miss out on your content if it doesn’t fit their personal preferences!
When you adopt an effective video marketing strategy, you will reach more people almost by default. People that enjoy video but do not like text will pay attention to your content – and you’ll have a better opportunity to convert them!
Plus even if and when your audience doesn’t have a preference, exposing them to different types of content from your brand will definitely help you. If they miss a blog post, such as this one, THEN maybe a video could catch their eye!
3. Video Marketing will Boost Your Retention
Keeping or retaining your current customers is paramount to doing good business.
In fact, keeping YOUR existing customers is even more important than acquiring new ones. Plus it can be anywhere from 5 to 25 times more expensive than retaining one!
At the same time, if you can achieve even a 5% boost in retention, your profits can soar by as much as 95%. With these numbers in mind, working on customer retention seems like a no-brainer. The investment is limited, and the potential payoff is huge.
One of the benefits of video marketing is, it’s an amazing tool for customer retention. Because most customers don’t like interacting with any kind of support staff, so you want to be able to give them the means to solve their own problems. You can do that with various video content such as:
- Onboarding videos
- Video guides
- Video FAQs
- Product-specific courses
4. Increase Your Conversion Rates
There truly is a lot of evidence that video marketing benefits your conversion rates greatly! Through both direct and indirect means.
Here’s just a small sample of recent stats we found on the internet:
- Using video on your landing page can create a 80% conversions boost
- 64% of consumers are more likely to buy a product after watching a video
- 84% of consumers have bought something after watching a video
- In search results, customers pay more attention to video as opposed to other content
Every business including YOURS could use a conversion lift in any of these areas! Don’t You agree? This is WHY video marketing could be exactly what YOU need to drive both growth and revenue for YOIUR Business now.
5. Video Marketing Gives YOU a Competitive Advantage
So how does Video marketing make you and your business more competitive? Beyond the fact that when done right it’s more engaging and more memorable, it is also because so few businesses are actually doing it and FEWER actually do it well!
The while most business owners and marketers acknowledge that video is a useful tool and probably the best kind of content when it comes to ROI. HOWEVER, only 22% of small business owners will post a video in the next 12 months. Even the bigger brands, the landscape isn’t much better – only 41% have a video marketing strategy in place. And out of those, 20% aren’t seeing the results they want.
Add to that the fact that video content will account for 82% of Internet traffic by 2021, and video marketing becomes the way to get a leg up on your competition! Businesses today need to stay relevant in the new video-focused world. YouTube boasts ….
- 73% of US adults use YouTube.
- 62% of YouTube users are Males.
- 78% of US men adults use YouTube.
- 68% of US women adults use YouTube.
- 81% of 15–25 year-olds in the US use YouTube.
- More than 15% of YouTube’s site traffic comes from the U.S.
- 80% of YouTube users come from outside the US.
- 62% of businesses use YouTube.
- 9% of small businesses are on YouTube.
- 35+ and 55+ age groups are the fastest growing YouTube demographics.
- 75% of adults turn to YouTube for nostalgia rather than tutorials or current events.
- Millennials prefer YouTube two to one over traditional television.
- 51% of YouTube users say they visit the site daily.
- 37% of the coveted 18 – 34 demographic are binge-watching.
- 70% of YouTube watch time comes from mobile devices.
- YouTube services are available in more than 100 countries in 80 languages..
- Males are primarily watching soccer or strategy games.
- Females are primarily watching beauty videos.
- 95% of global internet population watches YouTube.
- There 50 million creators on YouTube.
- YouTube has 265 million active users in India.
This alone should tell all of us that VIDEO WORKS … even when done poorly it works and when done right it can be amazing! These video marketing benefits we’ve discussed in this article ARE NOT just about abstract numbers and percentages. They both can and will make a real impact on real businesses just like YOURS!