The creation of YouTube back in 2005 was one of the biggest achievements of video marketing in the 21st century digital landscape. Since then, Video has become one of the fastest growing medium for businesses to reach and engage with their audiences and consumers. It has turned into one of the most effective marketing tools with over 52% of businesses praising it for the best ROI.
Marketing Videos have had such an exponential growth that many researchers set out to find out exactly how they were influencing the marketing Landscape. Since the advent of YouTube, the videos watched and downloaded online have significantly grown from 69% in 2005 to 78% nowadays. The videos posted online equally grew from 14% to 35%.
Consumers are now constantly inundated with marketing videos as businesses struggle to outdo each other by getting their messages across to their audiences with fresh, hip and relevant video content. This online video revolution has encouraged millions to watch and share viral videos as well as advertise their own videos with YouTube overlays and display ads.
Today, as marketing strategies are constantly shifting from traditional forms to digital; many businesses are opting for video as their preferred digital asset of marketing. Now more than ever the digital world is replete with Marketing Videos such as the How-to- tutorials and animated explainer videos. It is actually considered the coolest and most essential tool available to help a business move forward and grow.
Why Video Marketing
- Brand Recognition
Digital advancements over the last few years have created an extremely competitive market for various goods and services today. Businesses are struggling to get their brands recognized by their different audiences. To have an advantage over your competitors, you can use video to create something different and unique to enhance brand recognition. A good quality and compelling video can improve the brand identity and create a good lasting impression among your prospective customers’ minds.
- Provides comprehensive explanations on Key product Features or how they work
They say a picture is worth a thousand words. This is because our brains can process visual content faster than text. Marketing experts suggest that including a video to explain the features of the products and services makes it more compelling to the consumers. There is a higher chance that a person is more likely to by a product from a business who give them the low down of their services in short, interesting and sharable videos.
- Promote Informed Decision making
Due to the fierce competition among businesses, some of the products produced can be substandard. When the customers are searching for products, they always go for good value. To differentiate yourself from the competition, you can create a video that showcases the values that your products and services provide. The video can help show the consumers what experience to expect from the products and visualize the benefits, thus helping them make informed decisions.
- Expound on company vision and goals
Sometimes when a company is explaining their future plans and goals, words are not sufficient enough to explain where the company is really headed. The words maybe too complex for the consumers to understand or the meaning might get lost in translation. A well created video is better suited to explain a company’s mission, vision and goals better than words can. It can compel the investors to raise funds to grow the business by having a better understanding about the business strategies and future goals.
- Promotes higher website ranking
A higher search engine ranking of a website is very important for any business in the IOT. It helps improve the credibility and trust among the consumers of a particular company. According to a study, a business has 50% chance of being included in the first page of various search engines by including video in their website. The site visitors are more likely to watch videos than read textual content hence increase the website traffic.
If you want to separate yourself from your competition video marketing is definitely the way to go about it. The more good quality video content your business creates for marketing, the higher the chances of having better ROI from your marketing efforts.