80% of global internet consumption will be video by 2019. That’s huge.
Only three or so years ago this figure stood closer to 60%. But the endless streams of cat videos, drone panoramas and top-down recipe tutorials combined with improving mobile internet download speeds have caused online video popularity to skyrocket.
As a consumer, video content is fun and informative to watch. As a marketer, video content is a golden opportunity. Marketers using video as part of their advertising and content strategies grow revenue 49% faster than those who don’t, according to market research firm, Aberdeen Group.
Video marketing simply can’t be ignored any longer, and here’s why:
It boosts conversions
Video advertising delivers a conversion rate of around 80%, which sounds high on its own. But then compare that to a 30% conversion rate from traditional print and a mere 19% from billboard advertising, and you begin to realise just how much difference video content can make.
This is partly because visual content has the ability to evoke emotions that text and static imagery simply cannot. A positive emotional response can become a powerful tool of persuasion, and can therefore lead to a higher conversion and brand engagement rate.
It increases understanding
Almost 50% of internet users seek video content for a product or service before they buy, according to a Google study. From this we can safely assume that customers find video marketing content very useful and reassuring when it comes to trying something new. Whether it be an introductory video to explain a service or a tutorial on how to use a product, this type of content can quickly relay information while building trust and potentially providing a solution to a problem.
It boosts awareness
Did you know video content works wonders for SEO? Well it does. If done well, video content can drive an average of 157% more organic traffic to your site from search engine results than non-video content, according to video marketing experts, Brightcove. This means a a similarly huge increase in the number of potential customers being exposed to your brand and products.
The added bonus of video-driven awareness is the increased information retention rate. Viewers retain a whopping 95% of a message when they watch is as a video, compared with a tiny 10% if they read it as text, according to business consultancy firm, Insivia. With brand recognition and retention being so vital for success, this stark contrast in memorability argues a strong case for using video content.
It’s moving quickly
The success and popularity of video marketing content may have only recently become a major talking point, but it is by no means brand new. According to Social Media Examiner’s latest report, 60% of marketers are already using video marketing, and 73% are planning on increasing their use of it. In other words, marketers who don’t embrace this channel run the risk of being left behind and standing still in an increasingly moving world.
We know what you’re thinking. It’s not as easy as that; video content takes time and costs money to produce, and it’s time and money most SMEs don’t have. You make a fair point, but it’s not as unobtainable as you might think. Here at (hug), for example, we offer a highly affordable video marketing services to suit any and all budgets. From animations and on-location shoots to studio sessions, 360 and VR content production, we can deliver the lot.
So quit buffering, and press play on your new small business video marketing strategy. We’re just an email away.