Why Is Video Marketing So Big?
Whether you already own, or intend to start, a business online or off, it would be wise to incorporate videos into your marketing plan. Video marketing is taking the business world by storm, and is only poised to grow. Why? Let’s explore that.
Whatever service you provide, whichever goods you sell, you simply must go where the customers are, and they are on the internet in astounding numbers. The internet has grown exponentially since it became a staple in homes in the 1990s. It has become a vital, ever-expanding marketplace, giving brick-and-mortar only stores a run for their money, if not putting them out of business, in some cases. Think of video rental stores, as well as book and music shops which have all dwindled in physical numbers in the face of online competition. Also, whether your business is housed online or off, chances are good that you have a website. Why does that matter? Websites need traffic, period. Video traffic, it has been forecast, will comprise more than 70% of all internet traffic by the end of 2017. Do I have your attention now?
In this technologically-driven day and age, many consumers who once only perused the local newspaper ads for product and price feedback, now look to the internet for pre-purchase information. Prevailing research reports that at least 40% will surf the web before purchasing, both online and in-store, and that many are likely to purchase after viewing a video just once. It is that powerful.
Video marketing is so effective that it is outpacing other more traditional promotional methods in bringing in both leads and sales. Studies and research have found that video surpasses print media and direct marketing as sales tools. Video landing pages boast higher conversion rates in online advertising than traditional text only presentations such as long-form sales letters.
A clue as to how effective video is in influencing potential customers is in its widespread use. It is being used by everyone from Forbes 500 companies to small business, from politicians to the person next door. Video can, in turns, educate, inform, encourage reflection, resonate emotionally and even pitch, while also entertaining. They grab and hold attention, convey a message in a short amount of time from anywhere there is an internet signal, as well as have the potential to reach across all economic, ethnic, and geographic divides. Video brings a company, person or product into homes and awareness and increases recognition. It can be done cheaply, or even for free, while offering a platform that comes closest to rivaling the exposure offered by television, which is financially inaccessible to most.
Adding much of the fuel to the growing fire that is video marketing is social media. No discussion of video marketing would be complete without mentioning it. Platforms like Facebook, Twitter, Instagram and Snapchat, to name just a few, make it easy to share video content easily, quickly and potentially, virally, all while fostering brand loyalty and building relationships. This can translate to many dollars in profit to a company over a customer’s lifetime. Videos get shared more many times over than text and links combined on these platforms.
Video marketing is a powerful sales engine today, and a growing wave of the future, enabling a level of reach that is capable of adding many customers and dollars into your company’s coffers. If you have a business, or are contemplating starting one, video should be an essential element of your business marketing plan.
Source of data quoted within this article: virtuets.com