Is Video Marketing Really Worth Your Investment?
Many businesses think that saving money will still give them the same results while creating a video marketing strategy. You might choose not to promote your products in all areas. Or you might even ask yourself if video marketing is really worth it? Can online video content really offer you the same results as text can be inexpensive and easier to produce?
In case you are asking yourself these same questions, you should understand that video marketing is more effective when compared to text marketing. But you need both. And it offers a better ROI. Yes, it surely costs more to produce video content but it also offers more benefits than text marketing.
What are researchers saying about video marketing?
Is video marketing really worth the investment? Take a look at what the researchers found out.
Great ROI
Aberdeen says in their research report entitled ‘Understanding the Expanding Benefits of Marketing with Video’ that video marketing people get 66% more qualified leads yearly. Also, video marketers achieve a 54% increase in brand awareness.
In a different report entitled ‘Social Video Forecast,’ Animoto proposes that 76.5% of marketers and small businesses are achieving results with video marketing.
In yet another survey, ‘2017 State of Video Marketing’ conducted by Wyzowl, it stated that 83% of people using video feel it gives them a good ROI, while 82% feel it is the main part of their strategy. Of those that don’t make use of video, 73% have bought a product after viewing a video.
Again, 97% of businesses that use explainer videos say it aids users to understand their business better while 94% of businesses perceive video as an effective tool. Among those who were surveyed, 81% saw an increase in sales and 53% said support calls were reduced.
You don’t have to wonder about the benefits of video marketing for business. It’s definitely worth it.
How powerful is Video Marketing?
Still want to know how powerful video marketing is? Take a look at these two examples:
As per Tiger Fitness, video marketing enabled them to achieve a 60% returning customer rate. It is 3 times the norm for their industry.
SAP got 9 million impressions with a video-heavy content marketing campaign.
What does Video Content Actually Do?
Now, let’s take a look at some of the benefits of video content:
- It increases conversions and sales: When you add video content to your landing page, it boosts conversions by up to 80%. Also, video content can increase sales as 74% of viewers who viewed an explainer video purchased the product featured.
- It increases your ROI: A lot of businesses experienced that when they utilize video content to sell a product or service, the ROI is often much higher than making use of text content alone. It is sensible because images increase engagement thereby creating more sales.
- It helps in building trust: Many customers reported that the main reason they bought a particular product was the video content. It explains the product and even features of the product. Potential buyers can only trust someone who is really using the product. It is more effective than an image of the product or text content that describes the product and how to use it. Video content can also put a face and a person with a product or company. Video content can build trust immediately.
- Google loves video content: If you are trying to reach the first page in the search engines, making use of video content can boost your chances of reaching the first page by 53 times. Remember, Google owns YouTube, so b sure to post your video on YouTube.
- It engages buyers: With video marketing, you can engage a much larger audience than text content. Most internet users now view video content over reading text. On certain social media platforms like Facebook, the video content can auto play. It makes it even easier for businesses to reach their audience. Potential buyers desire to see products in action and it’s one of the most vital driving forces of video advertising. Sites that use videos experience, on average that customers stay 2 minutes longer than websites which do not use video content.
Winding Up
You can safely say that video marketing is worth your investment. Liraz Margalit, Ph. D., a consumer research specialist noted in ‘Psychology Today’ that visual information like video is processed up to 60,000 times faster than text. It is easier for people to connect to an image shown to them on-screen than it is when they are reading a text. And that emotional connection is tremendously powerful as it helps a consumer in making a purchasing decision.
Of course, you need a budget to make a video. But good equipment, editing software and a delivery platform are more reasonably priced than they were in previous times.
