Is video marketing worth it?
How can it help your business?
What kind of return can you expect on your investment, and how soon?
If you’re planning to step up your video content game, you’re probably pondering these questions – and more.
That’s why in today’s article we’re going to examine some of the most powerful and compelling benefits of video marketing. We’ll also look at all the different ways they boost your business.
Once you read through these 8 video marketing benefits, you’ll know for sure if it’s going to be worth your time, energy, and budget! So let’s begin with the most obvious one…
1. More engagement across the board
Admit it. You saw this coming.
One of the key benefits of video marketing – maybe even the benefit – is how engaging it is. When done well, video demands a reaction. A view, a comment, a share, a click-through, a purchase… it’s much harder to get the same effect with other types of content.
If you could use more engagement from your target market across the board:
- On your email list…
- On your social media channels…
- On your website…
…you name it – video marketing will help you get there much faster than text, images, or audio. For example, just mentioning the word “video” in your email subject line can skyrocket your open rates! And you can similar results across the board.
So don’t neglect these engagement-boosting video marketing benefits!
2. Video is more memorable
Different types of content make a different impact.
Give someone a text to read, and they’ll remember it for an hour. Show them a video, and they’ll remember it for 30 days.
And we’re not just saying that to sound cool. Research says that consumers remember a marketing video they watched for an average of 30 days – or longer.
(For example, we still can’t get this ad out of our heads. And it’s been a year!)
Memorability is one of those video marketing benefits that don’t immediately add to your bottom line, but create a compound effect in the future. The longer your customers remember your message, the more of them will eventually come back and buy. And that kind of thing adds up!
3. Competitive advantage
Video marketing makes you more competitive. Not just because it’s more engaging and more memorable, but also because few brands are doing it. And even fewer do it well!
The majority of business owners and marketers acknowledge that video is a useful tool and the best kind of content when it comes to ROI. And yet, only 22% of small business owners will post a video in the next 12 months. With bigger brands, the landscape isn’t much better – only 41% have a video marketing strategy in place. And out of those, 20% aren’t seeing the results they want.
Add to that the fact that video content will account for 82% of Internet traffic by 2021, and video marketing becomes the way to get a leg up on your competition! You don’t want to neglect it – if only to stay relevant in the new video-focused world.
4. Reaching a new audience
Some people prefer text. Others would much rather watch a video than read something. And while these two audiences overlap somewhat, there are plenty of customers in either camp who can miss out on your content if it doesn’t fit their preferences!
When you adopt an effective video marketing strategy, you will reach more people almost by default. Everyone who loves video but doesn’t like text will pay attention to your content – and you’ll have a better opportunity to convert them!
And even if your audience doesn’t have a preference, exposing them to different types of content from your brand will help you. If they miss a blog post, a video could catch their eye – and vice versa.
Brands like Twitter, Uber, Hubspot, and others are already using whiteboard video to attract more customers. Discover exactly how they do it, along with 9 more business-boosting tips – like how to increase your conversion rates by 20%!
5. Reaching a higher-quality audience
And speaking of people who prefer video – who are they?
Most marketing polls and studies indicate that they are busy… and successful. Think business owners, executives, and upper management – in other words, people with enough disposable income to afford your products or services.
For example, 59% of executives would rather watch a video than read about a product. So if you want to sell to a more discerning audience, video marketing is your ticket!
More importantly, when busy people watch one of your marketing videos, half of them will look for more information. That means you can use video marketing to speed up your sales cycle and land some high-quality customers to boot.
6. Video marketing is fun
You didn’t expect to see “fun” on the list of video marketing benefits, did you? Well, we believe it’s important – for all involved.
When you’re enjoying the process, you create better and more diverse content that resonates with your viewers more. When your customers enjoy watching your content, they will be more likely to stay engaged and buy from you in the future.
So take advantage of how versatile video marketing is! Go out of your way to experiment with new video formats, like behind-the-scenes videos, tutorials, story-driven explainer videos, even humorous sketches. Try different styles: whiteboard and cartoon animation, cartoons, live action, whatever you fancy!
7. Video boosts retention
At the same time, if you can achieve even a 5% boost in retention, your profits can soar by as much as 95%. With these numbers in mind, working on customer retention seems like a no-brainer. The investment is limited, and the potential payoff is huge.
One of the benefits of video marketing is, it’s an amazing tool for customer retention. Because most customers don’t like interacting with your support staff, you want to give them the means to solve their own problems. You can do that with video content such as:
- Onboarding videos
- Video guides
- Video FAQs
- Product-specific courses
And so on. Empowering your customers makes them stick around – and boosts your profits!
8. Increased conversion rates
There’s a ton of evidence that video marketing benefits your conversion rates significantly – both directly and indirectly. Here’s just a small sampling of recent stats we could find without even trying:
- Using video on your landing page can create a 80% conversions boost
- 64% of consumers are more likely to buy a product after watching a video
- 84% of consumers have bought something after watching a video
- In search results, customers pay more attention to video as opposed to other content
Could your business use a conversion lift in any of these areas? Then video marketing could be exactly what you need to drive growth and revenue.
Harness the benefits of video marketing for YOUR business
These video marketing benefits we’ve discussed aren’t just about abstract numbers and percentages. They make a real impact on real businesses just like yours.
For instance, here’s how our clients used video marketing to grow their brands:
- Mimic Technologies put a whiteboard explainer video on their homepage – and within 45 days, their revenue for the year exploded by $250,000!
- Harvard Services group leveraged their video to win the prestigious 2012 BSCAI Image Award for “Best Company Website” – handily beating 50,000 competitors.
- Bestselling author Andy Andrews used his video to generate buzz about his new book. The whiteboard and cartoon animation trailer broke 100,000 views in one week… while his old trailer barely got past 10,000 views in 10 months!
Our clients prove that video can dramatically speed up your business growth like no other form of content marketing. Do you want your brand to experience explosive growth like that?
Then let’s talk! To get started, book a free, no-obligation pow-wow with The Draw Shop team. Just fill out the form below, and our marketing ninjas will get back to you as soon as possible!