Monday, 7 April 2014

Why You Should Add “Video Production” to Your Marketing Budget

Here’s a fact: a person is more likely to survive a plane crash or win the lottery than click a banner ad. Scary, huh?
Nevertheless, the truth is that push marketing methods such as online banner ads, print ads and email campaigns aren’t grabbing consumer’s attention the way they used to. 
So, where to go from here? Experts are pointing towards video.
Video is different from online banner ads, print ads and email campaigns in that these are push marketing methods while video is considered a ‘pull’ method; once the videos are uploaded a person can choose whether to watch it, or not. Video is also different from other marketing devices because it engages audiences in a unique way: stimulating simultaneously the auditory and visual senses.
Having a video can make a big difference in the way potential as well as current customers perceive your brand. Much more than that, however, having a video  can positively impact sales and conversion rates for your business. Here’s why:

- Video can drive more traffic to your website and increase its SEO
Google and other search engines tend to give higher ranking power to websites that have video, therefore having a video on your website can increase your SEO and make it more visible. In addition, video attracts two to three times as many monthly visitors AND has a 157% increase in organic traffic from search engines.

- Product videos can make potential customers more likely to purchase
Most users will spend an average of two minutes watching a video showcasing the product they plan on purchasing. Furthermore, 174% of shoppers who watch a video are more likely to purchase than those who did not. Finally, almost half of all viewers agree that they are more likely to seek out information on a product after watching a video about it.  

- Video can increase your email click-through rate
Even including the word ‘video’ in the subject line can increase anywhere from  7% - 13% in overall click-through rates. By actually embedding a video in the email, the click-through rates can be two to three times higher than emails that contain no videos.

- Video is a great long-term investment
Think about it: the average lifespan of a tweet is three minutes. For a Facebook post? Three hours. The average lifespan for video is four years.

- Video works for all stages of the purchase journey
Video can be applied in all stages of the purchase journey: one could potentially build a series of videos starting at the awareness and consideration stage to the persuasion and sales stage. For example: the series might include an overview video, a getting started video, a troubleshooting video and a best practices video, through which you would address the needs of all prospective, new, and established customers.

- Videos are often shared
YouTube is the second most used search engine. Not only that but--as experience has taught us--it is not uncommon for videos to go “viral” if their message and execution is powerful and/or sufficiently entertaining.

- Video can maximize your message
Unlike print media or copy-driven advertising, with video you are not limited to certain number of words or certain space to deliver your message. With video you can maximize your message in a matter of minutes, if not seconds.

- Video is easier to recall
Research shows that a person’s ability to recall the message is better with video than with other mediums because video combines audio/visual elements, which adds an emotional quality to the message being delivered.

Not convinced yet? Take a look at this infograph for more facts and stats. Do you use video to advertise your business or product? If so, have you seen an increase in engagement and sales? Let me know in the comments below or tweet @swagger_media.

In case you thought I just made this whole thing up, here are my sources:

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