Video is one of the most commonly consumed formats of content on the Internet. The numbers indicate why you should use video marketing. Let’s take a look at some numbers regarding how much video is consumed by your potential customers on the Internet:
- Video streaming, on YouTube, Facebook, TikTok and other platforms uses more Internet bandwidth than the entire Internet did in the early 2000s.
- Smartphone users between the ages of 18 and 34 spend 105 minutes each week watching video content on their smartphone.
- 91.4% of internet users watch some sort of video content worldwide each week.
Video is an important medium to reach potential customers when they are making a purchasing decision. More than 80% of people will encounter a video of a product or service online before they make a purchase from that company. Video content is not just for retailers or sellers of certain types of products or services. Nearly every industry has invested in video marketing over the past several years. Let’s take a look at some of those industries and see how a creative agency like Rooted can help you get the video content that you need. Video marketing is going to become the most effective advertising channel in coming years and will help increase both brand awareness and customer acquisition.
Why is video marketing effective?
Video marketing is effective because video content is the most widely consumed on the Internet. In addition to some of the statistics mentioned above, marketing research indicates that people want to see more videos. According to Hubspot, 96% of customers increased their video consumption on platforms like YouTube, Facebook, and Instagram.
Even if you have loyal customers that your business has spent years acquiring, video marketing is an important way to keep those customers. 54% of customers expect the brands that they support to continue creating video content as part of their brand loyalty strategies.
Video is also an important way of educating customers. Most people don’t like to read content online about a particular product or service. Research indicates that 72% of customers would prefer to learn about a product or service by way of video. Video also helps customers retain important information from a brand about its product or services. Customers retain 95% of messaging that is conveyed via video marketing.
Where can you do video marketing?
There are many places where you can do video marketing. There are social media platforms, streaming channels, and other online platforms to place your videos. Here are platforms where you can showcase your products and videos:
- Facebook & Instagram: Many advertisers use Facebook and Instagram to showcase their video content.
- Pinterest: Videos can be promoted on Pinterest as promoted pins to reach users who belong to certain boards or search Pinterest with certain keywords.
- YouTube: YouTube can let you create a channel to organize all of your brand videos. Paid ads can also be utilized to place your videos for people to watch before they engage with a particular piece of content that they searched for.
- TikTok: TikTok videos are a great way to showcase your products and services to younger audiences.
- SnapChat: SnapChat ads let you place your videos in front of certain people who are conversing with their friends.
- Streaming Platforms: Platforms like Hulu let you also do advertising, placing your ads in front of people who are watching their favorite television shows.
What types of video marketing can you do?
There are many different types of video marketing campaigns that you can conduct online to reach more people. These include:
- Brand awareness campaigns: These types of campaigns let you put your videos in front of people and enable storytelling about your brand’s products and services.
- Lead generation campaigns: These types of campaigns let you tell people about your products and services with a video, and then compel people to fill out a form on your website to become customers.
- Campaigns to drive purchases: These are campaigns that show your videos to people who are likely to purchase your products online. They are exceptionally useful if you are an ecommerce store.
- Local Campaigns: Videos can also be done for local awareness campaigns, promoting specials and messaging that are designed to bring people into your physical brick and mortar location.
How much does video marketing cost?
The question to consider when it comes to video marketing cost is how effective is video advertising compared to different formats. Some marketers have done some research in terms of cost and have found that video:
- Results in better click performance across all paid digital marketing channels.
- Results in 2x more clicks than standard image and text ads.
- Boost CTR rates by a factor of 2x to 3x.
- Increases conversion by as much as 30%.
Video tends to be more effective in terms of ROI on paid advertising campaigns, which is why brands should consider it. Video marketing should be a part of every brand’s marketing budget and will help drive new customer acquisition.
Why certain industries invest in video marketing
Manufacturing is not a commonly thought of industry when it comes to video marketing. However, more than 80% of manufacturing companies are investing in video as part of their marketing strategy. While most manufacturing companies are in the B2B space, they still use video to showcase their services to potential vendors. Manufacturers can use video to:
- Showcase their manufacturing and production process.
- Tell the story of their company and their leadership.
- Promote their company mission as well as initiatives that they take to bring products to the marketplace.
Manufacturing videos can do well on B2B marketing channels, such as YouTube or LinkedIn. Video ads will help bring a company’s story to other customers and manufacturers can also make videos that support the different products that they make available to vendors.
Banks, lenders, and other financial service institutions have a very tough job. They have to build trust with their customers. Banks will often use video marketing to showcase different financial products to customers. Maybe they want to market a particular lending product to a customer and let them know how easy and safe it is to apply. Mortgage lenders also want new homeowners to know that it’s safe and easy to work with them to get approved for a loan. With the lightning pace of the housing market today, a video ad might reach a potential homebuyer while they are in the process of looking for homes. If someone is looking for a home online, they might apply for a mortgage in the same Internet search where they are finding their dream home.
Investment companies also depend upon video marketing for reaching potential customers. They might be able to reach a potential investor who is making a decision online about their stocks. Video marketing is key and critical for the financial sector.
Many companies do their own public relations in-house. In 2022, 88% of public relations specialists say that digital storytelling, including video, is the future. Public relations is the way that companies communicate to two different sets of people, customers, and major stakeholders.
Companies that are looking to put together a successful earnings report for their investors are likely going to use video to tell their stakeholders about the major initiatives during the calendar year. Also, for customers, video is going to be the most important way to control the positive outlook on a brand.
Companies that do their own public relations in-house are going to need help from a professional creative agency like Rooted who has all the video assets to help get the job done the right way.
During the pandemic, the number of in-person real estate showings declined drastically. Realtors started turning to virtual showings, videos, and other ways of getting people into a home without physically being present. There are many different ways that videos can be used to showcase a potential listing:
- A realtor conducting a virtual tour of a house.
- A drone flying over a property so that a person gets a sense of how a house fits into a neighborhood.
- A video tour of a gated community or a townhouse so that people can get a sense of the community that they will be living in.
Listings with video get 400% more inquiries than those that don’t. If you are a realtor, you are going to hit a slam dunk if you work with a creative agency like Rooted to get videos of the properties in your portfolio.
Medical procedures, dental procedures, and the nuances of healthcare are very complicated. Videos are great at helping boil down the complicated. Many doctors will create explainer videos that detail the different types of procedures that they do with patients. This helps build trust with patients. Many health insurance companies also make videos that explain how to use the various services that are included in a health coverage plan.
Hospitals often do videos to showcase the different areas of medicine that they provide and also the amenities that can go along with a hospital stay. Videos are an important part of search traffic for hospitals. In fact, nearly 5% of all Internet searches are health related. People who encounter a video as part of their search are more likely to work with a particular hospital or clinic if they had video on their website.
Travel & Hospitality
Brands in the travel and hospitality space use video to help focus customers on what makes their brand unique, give a unique impression of a location or a travel destination, and tell people about the amenities that come with travel. Restaurants also depend upon video. They can showcase a particular dish being made and also help people find a physical location when used on a map profile on search engines.
Video is particularly important for trying to hit customers in the travel space. According to some research, it is suggested that 81% of travelers expect personalization as part of their search and booking experience, and video is an important way to make things personal.
There are a lot of different ways that ecommerce brands can connect with consumers through video. The majority of customers now expect retailers to have videos for each of the products on their website. Video is also a great way for customers to get support on an ecommerce website. Here are some ways that brands can leverage video to sell more products on their websites:
- Videos can be used in remarketing ads on social media platforms and other video websites.
- Influencers can help promote a product on their social media platform with a compelling video.
- Videos can be used to do more storytelling of a product for brand awareness.
At the end of the day, video marketing will help brands sell a product or a service to a potential customer. Videos are also enticing for product activations during product launches.
Corporate videos are also picking up steam over the last several years. Many different brands will use videos for advertising that don’t outright promote a product or service. For example, a new company might need to create a quick video that details leadership in a company. Also, video can be a great way to do storytelling about a major brand initiative.
Who should help you with your video marketing?
If you are working with a marketing agency or have your own in-house marketing team, they are primarily specialized at placing your video content. A creative agency like Rooted Creative can help you with all of your video creative needs. We have production equipment, software, and an entire team of specialists who can help you get the video you need to convert your customers.