Why is Video the Future of Digital Marketing?
Online digital marketing offers more than just posts and ads.
The internet offers an elevated capability to deliver engaging video content that is rich with dynamic visuals (live video, animation, and motion graphics), blended with sound (narration, music and/or direct dialogue).
Considering broadcast was the only option available in the not-so-distant past, the internet has come a long way, becoming the perfect medium for marketers to put their brands into the view of their target audiences.
The use of online video is an excellent way for marketers to speak to their customers. An increasing number of popular video platforms have sprung up online, making video an excellent way to reach a large audience. It’s not surprising that more and more innovative marketers are embracing the power of video, and have even begun planning video content within their annual marketing plans and budgets. In fact, 93% of marketers use video for online marketing, sales and/or communications.
So why has video grown at such a high rate?
There are multiple reasons all contributing to the growth of video within marketing, but here are just a few facts to take away:
The rapid growth of the Smartphone category:
- 68% of Canadians own a Smartphone (24% increase over previous year).
- Speeds of data plans are increasing, making the ability to stream video more easily accessible.
- The Smartphone has become the big “on-the-go” device that keeps us connected, allows us to search for products/services, and makes it easy to watch video on the go.
How consumers are using the technology:
- Currently 52% of all mobile traffic is video.
- Smartphones and tablets account for 38% of all on-line video viewing.
How consumers view companies with videos:
- 58% of shoppers consider companies that produce video content to be “more trustworthy.”
- 73% of consumers are more likely to “make a purchase” after watching a video that explains the product or service.
- 93% of consumers find videos helpful while comparison-shopping.
How video is being used in Social Media:
- 59% of videos viewed on Facebook are shared.
- 14% of videos are shared on twitter.
- Videos have a higher retention rate (65% vs 10% for text based posts).
How is video impacting Digital Media:
- On-line video advertising increases engagement rates by 39.5% vs rich media ads.
- Video views, and the length of the views is measurable whereas text posts are only measurable by click rates, but it cannot be confirmed if the consumer read the full post.
Keep in mind that careful planning and strategy plays a part in effective video marketing.
For example; if a retailer posts a video that is 2 minutes long and offers sale items for (in this order) dress shirts, suits, shoes, spring shorts and summer t-shirts, naturally the viewer who is not interested in dress shirts and suits will tune out and not watch the full video. What if the viewer was in the market for new shorts, and his viewing would have translated to a purchase? A marketer would have lost the transaction.
When a client asks about the length of a social media video, my recommendation is to always consider and plan your social media videos as you would a 30 second brand spot. My advice is to keep it short and concise, and limited to one offer/product/service. This strategy ensures retention rates remain high, the consumer is offered relevant bites of information when desired, and most importantly this strategy is measurable based on transactions.
It is projected that by 2017 that 74% of all Internet traffic will be video. It is no wonder that B2B and B2C marketers name video as one of the top three most effective social media tactics.
If you have any questions, or would like to learn how we can assist in creating compelling content for your social media campaign, feel free to give us a call. We’d be happy to share some perspectives and offer ideas that can add value to your Digital Marketing campaign.
Producer / Creative Director
Serendipity Video Productions