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Does Video Marketing Actually Work?
Video Marketing Benefits in 2017
When deciding which marketing tactics are worth implementing for your business, the option of video marketing was probably suggested. It’s likely that questions about the effectiveness of the tactic quickly followed.
“What even is video marketing?”
“Does video marketing work?”
“How would we go about doing it?”
“Will video marketing lead to customers?”
Though these concerns are common, I can confidently assure you that video marketing does work.
I’m not the only one who’s sure of that. Companies that use videos in their marketing say they’ve experienced a 27 percent increase in CTR, 34 percent higher web conversion rate, and have seen their revenue grow 49 percent faster year after year than those who don’t.
Are your concerns fading? Read on—I guarantee they will.
What Is Video Marketing?
Video marketing can come in a variety formats, but simply put, it’s incorporating video into your marketing campaigns. This can be with the goal of promoting your company or making a sale, but regardless of the objective, it’s an effective marketing tactic that should be included in your strategy.
When it comes to video marketing, you can see a big ROI for very little cost. Filming a video with decent quality is relatively inexpensive and sharing it organically on your website, YouTube, or social media sites, such as Instagram or Facebook, is totally free.
Video marketing can come in the form of how-to videos or they can give viewers a taste of your company culture.
It’s been found that 73 percent of consumers who watch online product videos say it helps them make more confident purchasing decisions. Not only that, but web video traffic is expected to rise to 69 percent of all consumer internet traffic this year.
Does Video Marketing Work?
One more time: YES. Video marketing does work and as time goes on, implementing this strategy will be especially crucial to your marketing efforts.
Questioning how effective the strategy is valid though. If you’ve never experimented with video marketing, there’s a number of common concerns and speculations that you may have. One of the first of those worries is likely whether or not your video will even reach many eyes.
If done right, the answer is yes.
With these numbers only expecting to grow, neglecting video marketing means you’re wasting a valuable opportunity to reach millions of people that all have the potential of becoming prospective customers.
It takes more than just uploading shaky iPhone footage to YouTube to make an impact and see results, though. You don’t need to hire a camera crew and spend hours editing your film, but you do need to make your content engaging.
According to Forrester, one minute of video is worth 1.8 million words. YouTube says that 20 percent of viewers who start your video will leave after the first 10 seconds, so putting together content that is worth their while is crucial.
Those who enjoy your video and watch it in full will stay longer on your website, will be more likely to visit other pages, and will think fondly of your brand. Though not all videos will result in customers, they will raise brand awareness, up your count of raving fans, and push leads closer to becoming customers.
Don’t believe it? Let these numbers do the talking:
- By 2019, video will account for 80 percent of global internet traffic and 85 percent in the US (Cisco)
- Two-thirds of marketers and agency executives see video as the next trend in content marketing (iab)
- 82 percent of B2C businesses report that video has become their most popular content marketing tactic (Content Marketing Institute)
- 73 percent of B2B marketers say that video positively impacts marketing ROI (Tubular Insights)
Interested in seeing more stats? Check out these 50+ Must-See Video Marketing Statistics for 2017.
Video Marketing Best Practices
We recommend creating captivating video content on a regular basis as part of your marketing strategy. Creating a series of videos each week or month builds brand authority and keeps your customers waiting for your next release. They’ll start to expect to see content from you on a schedule basis, almost like a TV show.
Making one video has its benefits, but creating multiple with consistent themes and elements is the best practice.
Once these videos are produced, be sure to share them on a variety of channels to give them the best chance of getting more traffic. Promoting the post on Facebook is a great way to get the content in front of more eyes as well. Share videos on your website and social media platforms at the very least.
It’s also important to measure your results. How can you make successful videos if you don’t know what went wrong with videos that you released earlier?
Tracking your results depends on the goal that you’ve set for the video. If you were looking to raise brand awareness and get people talking about your company, check how many people viewed, shared and “liked” your video, read the comments, and analyze these results.
If your goal was conversions and sales, look at these metrics and your users’ experience and actions.
You may also be interested in: Should I Invest in Video Marketing for My Small Business?
What Should You Include in Your Marketing Video?
Video allows your customers to interact with your brand and business and help foster your relationship with them. This is critically important for local or online businesses that don’t have the opportunity to interact face-to-face with every customer.
Though what to include in your video depends on your business and the goal of your video, the following elements can enhance any video:
- Competitor differentiators – what makes YOU stand out from the rest?
- Guarantees – Company guarantees can more easily turn a viewer into a customer.
- Testimonials – Nothing makes a person feel more confident about a purchase than hearing that someone else is satisfied.
- Company history – Give your viewer a glimpse of your company’s background and personality.
- Calls to action – Give your viewer a clear next step, whether it be visiting your website or giving you a call.
Regardless of what kind of video you’re creating, all of these elements can promote your business as an authentic, trustworthy company.
We include these elements in the videos we create for clients as well! Check out our video portfolio to see some examples of our professionally shot and edited videos.
Will Video Marketing Lead to Customers?
The answer to that question is, in short, yes and no.
Not all videos have the intent of creating customers immediately, but all videos play a part in that end goal and help you get there. The goal of your video depends on what type you choose to create and where it falls in the buyer’s journey.
The buyer’s journey is a three-step process that a lead takes as they familiarize with your brand and eventually go on to make a purchase.
During the first step in the buyer’s journey, a potential customer begins to familiarize themselves with your company. They know little about your brand, possibly nothing, so this is your chance to make a positive first impression. Brand and explainer videos are great for this.
The next step involves building on that existing relationship. The key is to slowly push your lead toward becoming a customer. Product reviews, event, company culture, and testimonial videos work well in accomplishing this goal.
The final step is when your lead finally becomes a customer, but you still hope to foster that relationship you worked so hard to create. This is when you should create webinars and vlogs to share with them.
As stated previously, it’s best practice to create a series of videos, not just one, in order to see results. Creating videos for each step in the buyer’s journey is the most effective way of converting your viewers into customers.
You may also be interested in: 7 Types of Videos That Are Effective for Marketing
The Rise of Social Media Videos
Social media is the ideal platform for sharing your videos. You could choose to post existing videos to sites like Facebook, or take advantage of the video features that many of these platforms offer.
Listed are the best social media video opportunities that you should take advantage of:
- Facebook – Facebook Live was launched in April of 2016 and gives users the opportunity to share live footage of a gathering or event with anyone who wants to tune in. This gives businesses the chance to take viewers on a live tour of their office, bring those who couldn’t attend to a company-hosted event, or show a behind-the-scenes look at a new product in the works. Live video is given preference in the Facebook news feed and 82 percent of people surveyed said they prefer live video from a brand to social posts. For those reasons, 50 percent of marketers plan on using live video services such as Facebook Live in the future.
- Instagram – Not only does Instagram allow you to post videos to your profile the same way you post pictures, it also gives you the chance to share a brief “story” with your followers. This “story” commonly runs for between 5 – 10 seconds and appears on your profile for 24-hours. If your company wants to create a short, fun clip featuring your product in action, a snap shot of a normal day on the job, or any other small moment, this is the perfect opportunity.
- Twitter – Though Twitter doesn’t offer a special video service, it does allow users to include videos in their tweets. When users are scrolling through a sea of words on their Twitter feed, a video is likely to stand out. In fact, 82 percent of Twitter users watch video content and videos are six times more likely to be retweeted than photos and three times more likely to be retweeted than GIFs. Twitter also found that video ads in Twitter feeds are twice as memorable as when found elsewhere.
You may also be interested in: Social Video: The Marketing Trend That’s Worth Investing In
Interested in Investing in Video Marketing?
It’s important to remember that though this tactic has been proven to be successful, it still has to be done right. Blue Corona’s video marketing services include scriptwriting, editing, video graphic creation, and more. We’ve helped hundreds of small businesses across the country improve results and we would love to add you to that list.
About The Author: Danielle is a content marketing specialist at Blue Corona.
View more blogs by Danielle Duggan