Video marketing is booming right now. According to a recent report by eMarketer, video ad spending will grow from $2 billion in 2017 to $22 billion by 2021. That's huge growth! And that’s just from last year’s numbers. Video continues to gain more traction as marketers see the power of visuals and the increased ROI of video ads over image ads. Even if you don’t have an existing video production team or can’t afford one yet, there are still ways for your business to get started with a video marketing campaign. You just need to know where to look and what you can do on your own. Here are some great reasons why now is the perfect time to start creating videos for your brand instead of waiting until later.
Video Marketing is an Easy and Profitable Way to Grow Your Business
Video ads are a great way to attract new customers and grow your business. Video is so effective because it’s more immersive than other digital formats. In fact, a 2017 study by BrightRoll found that consumers are 10 times as likely to remember and act on information they see in video format as compared to written text. Video is also a more cost-effective way to advertise compared to other online media. And research by eMarketer shows that businesses that invest in video marketing saw an average return of $1.33 for every dollar spent on ad campaigns. That’s a huge boost to your bottom line! With all these benefits, it’s no wonder that more and more businesses are turning to video marketing to reach new customers and increase sales.
Video Ads Have a Much Stronger Effect on Consumers' Browsers
Video ads are more impactful than images because they make viewers feel something. Images can only go so far because they lack the sound, movement, and dynamic elements of a video. Unlike photos or plain text, which can’t elicit any sort of emotion, video ads are interactive. They make viewers feel connected to the product or service being advertised. This means that video ads have a much stronger effect on consumers’ browsers than images. Because they’re more immersive, they have the potential to make viewers more likely to buy the product being advertised. For example, let’s say you’re a restaurant that wants to promote its new Tuesday night sushi specials. If you just put up an image of the sushi, consumers may get excited about the idea of sushi. But if you put up a video ad featuring the sushi, users will be able to hear the sound of the food and see how it’s prepared. That makes the sushi much more enticing, and it increases the likelihood that people will order it on Tuesday.
Content Marketing is Key to Long-Term Growth for Brands
From the beginning, video has been a key component of content marketing strategies for brands. We’ve seen this in the success of brands like HubSpot, where video has been an important part of their content strategy for years. And now, video is quickly becoming a key part of the content marketing strategies of other brands too. In fact, a recent Forrester study found that nearly half of marketers surveyed reported using video content as part of their overall content strategy in 2018. There are many benefits to this. First, video has a much stronger effect on customers than other content formats. It makes them feel something, so they’re much more likely to act on the information they find in a video than they are in text. Video also has the added benefit of being highly visual, which makes it a great option for customers with attention issues like those who suffer from ADHD.
Videos are More Convenient and Efficient for Viewing than Text or Photos
One of the biggest advantages of video is that it’s more convenient and efficient for viewing than other content formats. As we’ve already discussed, video ads are much more impactful than images. But you can also imagine that, because they’re so powerful and engaging, people will often want to watch the entire video instead of just reading the ad. That’s fine if the information is interesting enough to keep people watching. But if the ad is too long, people will often impatiently scroll or click out of the advertisement. Instead of wasting their attention on an advertisement, people will be scrolling or clicking on something else, like Facebook or Instagram. That’s wasted attention that could have been spent on other content, like your brand.
Videos Help Build Brand Awareness and Reputation
Beyond just building brand awareness and reputation, videos are a great way to build customer loyalty and create a stronger connection between your brand and its audience. Many brands are using customer testimonial videos to show how their customers have used their products. Your customers could bring up their experience with your brand in a testimonial video and make it much more memorable. This could result in a lifelong customer who otherwise wouldn’t have been aware of your brand. Another really great way to use videos to build customer loyalty is to create product or customer tutorials.
Conclusion
Video marketing is a great way for your brand to reach new customers and increase sales. And now, video ads are even more effective than ever before. With all these advantages, you may wonder why more businesses aren’t getting started with video marketing. The truth is, you don’t have to wait for your business to grow or for budgets to expand before starting a video marketing campaign. You can use the following tips to get started now.