Content is king. You have probably seen this phrase from the essay by Bill Gates many times. But what content, exactly? Nowadays, there are so many types of it, from a blog post on a business website to a funny animation on social media. So do they all have the same value? Are they interchangeable? The answer is, of course, no - because everything depends on your specific purpose for using a particular piece of content. While content is king, video marketing benefits make it clear that video is the new king of content.
This becomes obvious once we narrow the scale down solely to marketing. In terms of increasing internet traffic, improving click-through rates, and boosting conversion rates, online videos absolutely dominate written content, images, and even animations.
In this article, we will discuss the power of video and why companies use video marketing in the first place. We will also outline core video marketing benefits and give you some tips on how to truly capitalize on videos in a simple yet efficient way.
Why video marketing is so powerful
The answer may be found in our nature. For us as human beings, it is easier to retain information from videos as compared to other types of content. This is because our brain processes visual content much faster than messages delivered with written words (up to 60,000 times faster according to some studies). And due to so-called mental laziness that is also inherent to all people, we tend to consume information in the form that requires the least effort.
On top of that, video content combines moving images and sound. In other words, it simultaneously engages our auditory sense in addition to the visual sense. As a consequence, video content makes information more memorable. To be more precise, people in general remember nearly 50 percent of what they saw and heard, and only 30 percent of the information they only saw but did not hear.
In addition to being more memorable, videos also create a stronger emotional connection than text content. It is, of course, impossible to measure and compare the emotions a person experiences when he or she reads a text and watches a video. But we can look at indirect consequences, like the number of social shares and engagements.
According to statistics, people share videos 12 times more often than they do with links to articles. As a result, videos have more chances to go viral than other types of content used in content marketing.
Benefits of video marketing
Nowadays, online videos have a great impact on the way a product or service is perceived by target audiences. For this reason, you’re much more likely to receive a good return on marketing investment (ROMI) when video content is part of your company’s marketing strategy. And the numbers speak for themselves.
Businesses exist to make money. That’s why generated revenue is the metric that matters the most at the end of the day. However, many marketers and business owners wonder if video is worth it. After all, the cost of creating video campaigns are usually higher than running other marketing campaigns. The answer is yes.
Statistics show that companies on average earn $8.34 per internet user who saw their online video. This figure is about ten times higher than the profits from photo advertisement.
Conversion rate and sales
A conversion rate is the most discussed metric when it comes to video marketing benefits. And it’s no wonder. Videos are indeed an extremely engaging type of content and they often evoke the viewer’s interest to learn more about a product or service. As a result, landing pages with embedded videos show up to an 80 percent increase in conversions.
Naturally, a higher conversion rate leads to a greater number of closed deals. According to the survey by Wyzowl, 81 percent of organizations that implemented video marketing saw an increase in sales.
In today’s world, consumers usually have a wide choice of similar goods and services. Hence, trust in a particular brand has become a key differentiator along with the price and quality. Online videos help organizations build strong brand loyalty by showing buyers that a company cares about serving them well. Because not only do videos entertain but they also explain and educate.
One major video marketing benefit in particular, according to one study, is that 64 percent of digital buyers are confident buying from an online store after watching a product video. This is also important in the long run, because it helps online retailers create a base of loyal return customers.
Search engine optimization
Enhanced SEO is also an essential video marketing benefit. If you’ve ever participated in discussions with marketers, you might have heard that Google loves videos. While that's not quite the case, a website that contains videos is more likely to show up on the first page of the Google search. However, this does not happen because the King of Search Engines has some special rules related to video content.
The reason is that internet users stay on websites that have embedded videos for a longer time. As a result, Google “thinks” that these websites have content of the high quality and shows them above other search results. According to a study, video content can increase a website’s chances to reach the top of Google’s search results by more than 50 times.
Video content is a new industry standard
The importance of video in marketing is so significant not only because this type of content brings many advantages to a business. Online videos have already become a new industry standard. This means that most people treat them as a must-have element of a brand’s online activity.
In particular, 85 percent of buyers said that they would like to see more videos posted by companies they buy products from. One of the reasons is that video format allows for conveyance of a greater amount of information in a clear and efficient way. Hence, consumers need to spend less time on research. And this is a huge benefit of video marketing for digital buyers.
On top of that, as many as 81 percent of organizations use video content for marketing purposes. So, basically, if you do not utilize videos as a marketing tool, you deliberately agree to put your business at a disadvantage.
To provide you with the bigger picture: Global video marketing revenue reached almost $28 billion in 2018 and it is expected to grow by 14.6 percent year-on-year. The next big question is how do you take part in this and start profiting from the various video marketing benefits?
How to create an engaging video
It goes without saying that there is no single video that will do all the work. There's no magic formula that allows you to tap into the video marketing benefits that are out there.
To create successful marketing campaigns, marketers should choose among different types of video content depending on the stage of a buyer’s journey, purpose, target audience, etc. However, there are some best practices that will help you make any online video compelling and boost customer engagement.
Keep it within 2 minutes
People watch online videos because they allow them to get necessary information about a product quickly. Hence, if you try to cover every single detail in one explainer video, it will become endless and no one will actually watch it until the end. The optimal length for product videos constitutes 1-2 minutes. So it is recommended to stay within this range so as not to lose customers’ interest and attention.
Tell a story
To get all the benefits of video marketing, you not only need to show your products. You have to show them in a way that will make the viewers want to buy such products.
In other words, your online videos have to evoke emotions. For this reason, focus not only on messages you want to deliver to customers but also on a storyline that will relate to your target audience. A great example of such videos is “Let's build” by LEGO.
Make it actionable
A good product video should be both inspiring and actionable. This means two things. First of all, you should tell viewers about an action you want them to take. Basically, include a call to action, like “buy this product”. Secondly, you should provide viewers with an easy way to take this action.
For instance, you can place a link to a product page under a video or include interactive elements in a video. The latter option is, of course, much more efficient and innovative. It used to be quite expensive (and time consuming), but recently the situation has changed. Now, you can create shoppable videos in a few clicks without spending a fortune on custom development. Let’s talk about this in greater detail.
How DUZY tv can help you capitalize on video marketing benefits
With DUZY tv’s patented solution, online retailers can make interactive videos by simply registering on the platform and connecting their e-commerce store to it. The shoppable videos they will receive in return will allow customers to make a purchase without leaving a player. In short, it allows you to take full advantage of the wide range of video marketing benefits.
The only thing buyers will need to do is click on the plus icon inside of a video ad. For example, if a viewer likes a T-shirt featured in the ad, he or she will be able to buy the T-shirt. All while still enjoying the video featuring it.
How can this help make a video marketing campaign more effective? The main advantage of shoppable videos is that they shorten the distance between a buyer’s desire to buy a product and the actual purchase. This is because customers don’t have to go to the online store and spend time searching for the item they saw in the video.
Since the buying process becomes fast and simple, the engagement rate increases as well. As we can see, videos created with DUZY tv’s patented solution results in a 45.71 percent engagement rate. In comparison, the average engagement rate of Instagram videos is 1.73 percent. Naturally, this leads to an increased conversion rate, the greater number of sales and, consequently, higher profits.
In short; take advantage of video marketing benefits
Internet users are more inclined to watch videos than read articles. That’s why video must be an integral part of marketing strategies for any business that strives to grow. It significantly improves how you engage new buyers, retain existing customers, and overtake your competitors.
However, to be a step ahead of the rivals, just creating engaging videos is usually not enough. Companies must also be innovative and make these videos actionable. DUZY tv’s patented solution is an easy, efficient, and cost-effective way to craft shoppable videos that will skyrocket your e-commerce business. Allowing you to take full advantage of the wide range of video marketing benefits.
Want to make your business grow and thrive with DUZY tv’s shoppable videos? Register now!