Internet users are bombarded with information every second. The human brain's capacity is limited; it can process and retain only 40 to 50 bits of information per second. Due to the overload of information, internet users are becoming oblivious to online content, and their attention spans are decreasing.
According to Marketing Mag, the average user will spare only 2.7 seconds to view your content before they move on to the next website if they don't find anything interesting. Hence, the need for creating engaging content cannot be overstated.
So what are the new tricks and tools digital marketers are using to captivate the users' interest long enough for them to view their products or services? Online trends indicate that video marketing is becoming the most effective and dominant tool for creating engaging content that strikes a chord with users.
Video marketing offers multiple advantages over written text, images, etc. It allows businesses to showcase and market their products most excitingly. Videos present information graphically, which makes it easy to understand. Additionally, exciting videos are fun to watch and don't take as much time as reading product descriptions or some other text.
The use of video is not new. Video content has entertained us for a long time through movies, theatrical, and TV productions. However, its use for digital marketing is relatively new. As the internet and handheld devices become more accessible, marketers focus more on creating video content to communicate with users. Video creation tools have become cheaper and easier to use. Creating engaging videos is no longer too complex or technical. As a result, there has been a boom in using videos as an effective marketing tool.
So What is Video Marketing?
- Video marketing is a digital marketing type where video clips showcase a product, communicate a message, increase user engagement, enhance conversions and drive sales. Video marketing is one of the most effective tools to communicate your message to your audience. Video marketing offers endless options. For example, videos can be used for advertisements, improving your website's ranking, social media posts, etc.
With video marketing, the growth potential is enormous. According to statistics, internet users consume 1 billion hours of YouTube content daily. As per the findings of a recent survey, 54 percent of consumers prefer those brands that post videos regularly. Videos got more engagement on social media platforms. They get more social media shares, which improves your brand's visibility.
We believe that visual media will dominate the arena of digital marketing in 2023 and the years beyond. We have compiled some interesting facts which support our assumption:
- YouTube, the largest video streaming platform, has dethroned Facebook in influencing consumer behavior.
- In 2022, streaming and downloading videos generated 82 percent of internet traffic.
- The worth of the video marketing industry in the USA is estimated at $135 billion. It is forecasted to reach 184 billion dollars in the next five years. According to forecasts, the net worth will increase rapidly in years to come.
- 80% of internet users prefer to watch videos compared to reading text.
- 87% of businesses are using video as a marketing outlet. According to forecasts, this number will increase in years to come.
- 88% of marketers are satisfied with the returns they receive for investing in videos.
- The CTR for emails with videos is 300% higher than those sent without videos.
- LinkedIn users are 20 times more inclined to share a video than other forms of content.
- 83% of marketers have reported that by embedding videos on their websites, users spend more time on their sites.
Now that we have established the power of video marketing, let us analyze what makes it so effective and why it will be the most effective marketing tool in 2023.
More Sales, Higher Conversions
- All marketing tools and strategies have one end goal - higher conversions and more sales. Videos are very effective in achieving this goal. According to research, your conversions can increase by 80% if you add a product video on the landing page of your website. In addition, videos are great tools for convincing users to buy your products or services. 74% of users are more likely to purchase a product if they watch an explainer video about it.
Videos stimulate our vision and engage our brains. The brain processes the visual information presented through engaging videos effortlessly. The brain makes rational decisions, and videos target the brain, so it is no wonder video marketing fetches quick results.
Video Marketing is Cost Effective and Gives Higher Return on Investment
- Digital marketing can cost businesses a lot, so marketers always look for tools that bring the highest ROI. Video marketing is one tool that brings higher returns than the cost invested in them. 83% of businesses have attested to that. Video production tools are getting cheaper and more accessible every day. Nowadays, even the average cell phone can make pretty decent videos as well. Hence, video marketing is becoming more affordable and profitable.
User trends show that visitors focus more on the content than the production quality of the video. Graphics and animations matter, but not more than the video's message. Hence, the good news is that you don't need to invest in the most high-end and expensive tools to produce content that resonates with your consumers.
Videos Will Fetch You Higher Google Rankings
- Do you know that having a video embedded on your website will make it 53 times more likely to appear on Google's first page? Incorporating videos on your website has proven to increase your website's Google ranking. The reason is that when you have different videos embedded on your website, the time a visitor will spend on your website increases.
Google perceives frequent and prolonged exposure periods as a sign that your website is trustworthy and offers good-quality content to visitors. Another point to note is that since Google owns YouTube, the largest video-sharing platform, websites that display video content will always be preferred by Google.
- If you have a YouTube channel, make sure to optimize your videos for SEO. Come up with catchy titles and engaging descriptions. Add the links to your website, product, or service pages in the description panel. This way, you will redirect traffic to your website, and it will rank higher on search engines.
Videos Make Your Brand More Trustworthy
- The ultimate goal of any marketing tool is to have higher conversions and more sales. You cannot achieve this goal without gaining the trust of your customers. Customers' trust in your brand determines its success.
But how do you build trust? Most brands establish long-term relationships with their customers by offering good customer service and support. Another way to gain trust is by presenting your goods and services interactively and engagingly. When a customer visits your website, your content should be convincing, educational, and informational.
- Videos are the best tool that marketers have because they can showcase their products excitingly while conveying all the necessary information. Videos remove ambiguities and give customers the confidence to make an online purchase.
To gain the trust of their customers, most businesses take the help of promotional videos. These videos present the products in a conversational form where the customers are being addressed directly. This convinces consumers to buy a product online.
Videos Are Great At Explaining Difficult Concepts
- The purpose of digital marketing is to get a message across to the audience, introduce your product or service, and convince them to purchase your product. Videos are the best tool at your disposal to achieve these goals. Short and to-the-point explainer videos are great for introducing a new product, explaining the functionalities, or describing how to use a product in real time.
Instead of reading a lengthy and ambiguous user manual, consumers now prefer to watch explainer videos through which they learn the working of a product in little time. 98% of users have reported that they always look for an explainer video to learn about a product or service. 83% of businesses have reported an increase in sales after embedding explainer videos on their product pages.
- Nowadays, animated videos are all the rage. Thanks to the introduction of different software, animated videos are easy to make. Animated videos can explain even the most complex concepts in a fun and easy manner. They are entertaining to watch and act as great learning tools.
Videos Save Consumers' Time and Prompt Them to Take Action
- Videos simultaneously engage two of our primary senses, i.e., hearing and sight. This makes videos fun to watch and easy to consume. Customers prefer to watch videos rather than read long, tedious, and often complex product descriptions. This is because watching a video requires little energy and time on their part. Consumers' preference for video over text and images make it an important marketing tool.
What sets videos apart from other marketing tools is the fact that videos are enjoyed by all types of audiences, all belonging to varying age groups. Videos work well for kids, teenagers, and adults alike. Videos work their magic on lazy and reluctant customers as well. After watching an engaging and informative video, even the most reluctant customer will be prompted to take affirmative action.
Videos Will Highlight Your Brand On Social Media
- Social media is a great place to showcase interesting and engaging videos. Effective and quality content gets spread like fire on social media. Users watch it, enjoy it, recommend it, and share it. If your brand's video gets shared on social media, it will improve your brand's visibility, and fetch potential customers.
Social media and video content have a symbiotic relationship. Through social media, quality content gets the love and viewership it deserves. At the same time, quality content increases a social media platform's popularity and engagement rate.
- Different social media channels have introduced unique features to showcase videos. E.g. Facebook has launched 3600 Video, Live Video, and Lifestage. Likewise, 60-second videos and Instagram Stories have been hit features on Instagram. And let's not forget YouTube, the quintessential video streaming platform and the second most popular social network.
Create entertaining and original videos specifically for social media, as these are the ones that get shared the most. When your content gets shared on social media, it will generate traffic for your website, and increase your sales.
Videos Can Be Used In A Variety of Ways
With video content, marketers have a variety of options to explore. You can choose the video format that best fits your company's marketing goals. Video content can be used in the following ways:
- As stories on social media platforms such as Facebook, Snapchat, YouTube, and Instagram. These stories are not permanent; rather disappear after 24 hours. Stories are entertaining to watch. Businesses use them as teasers to showcase a product that will be launched soon, or update about an upcoming event.
- Some social media platforms also allow the live streaming of videos. Live streaming allows one-to-one interaction with businesses in real time.
- Webinars are also becoming a popular way to interact with potential customers. Webinars are online events hosted by a company for a selected set audience. Through a webinar, customers can learn a great deal about the technicalities of a product or the industry in general.
Hence, video marketing allows the flexibility to converse and reach out to potential customers in various ways.