According to Hubspot, 81 percent of businesses used video as a marketing tool in 2020 — up from 63 percent over the previous year. It’s one of the fastest-growing marketing tools available, and companies that haven’t yet dipped their toes into this medium are starting to feel the peer pressure. While video has historically been viewed as expensive – only accessible to companies with large marketing budgets – things are changing. Video is more affordable and accessible than ever before. In fact, 47 percent of first-time video marketers started using video in 2019 because they believe it’s become quicker, less time-consuming and more affordable to create video content.
Why exactly are marketers so crazy about video? We break down why video is one of the biggest trends in marketing right now.
People Are Watching More Video Than Ever Before
It’s no coincidence that YouTube is the second-most popular website after Google. People can’t get enough of online video. According to Google, 6 out of 10 people would rather watch online videos than television. And Cisco reports that by 2022, online videos will make up more than 82 percent of all consumer internet traffic — 15 times higher than it was in 2017. So when it comes to reaching your audience where they spend their time, video is a good bet.
Videos Are Eye-Catching and Memorable
Social media posts with video receive 48 percent more views than those with text and images alone. And that’s not hard to imagine. Our eyes are naturally drawn to moving things, so when we scroll past a post on Instagram that’s moving, we’re more likely to pause and watch at least some portion of the video. But that doesn’t mean you need a highly produced, two-minute video for every post. Even something as simple as a GIF or a five-second animation invites people to spend just a little bit longer looking at your content.
Viewers also retain 95 percent of a message when they watch it in a video, compared to 10 percent when reading it in text. This means prospective customers are more likely to internalize your message and remember your brand.
Videos Provide Value
Videos can pack a lot of information into a short amount of viewing time (we recommend under two minutes), particularly because they can combine elements of visuals, text, sound and voiceover, as well as animation. The most popular types of marketing videos are how-to and explainer videos, because they help viewers understand something or solve a problem they have. By providing this kind of value, videos can help create trust between viewers and your brand. Plus, videos are an easy and enjoyable way for people to learn more about your brand.
According to Hubspot data, when asked how they’d most like to learn about a product or service, two-thirds of people (66 percent) said they’d prefer to watch a short video.
Videos Offer More Bang for Your Buck
Many businesses shy away from video marketing because they believe it’s too expensive. And it certainly can be, depending on how you do it. Animation and high-production video can require certain equipment, staff or contract staff. That said, simple videos shot on your iPhone have the same potential to be successful. Plus, the proof is in the return on investment. Videos are a solid investment because they’re incredibly versatile. They can be shared on your website, within blogs, through email marketing, and on all social media platforms. According to a recent report by Wyzowl, 80 percent of video marketers say video has directly helped increase sales. Additionally, 89 percent of video marketers say video gives them a good return on their investment.
If you’re looking to increase your social media stats in terms of likes and shares, video is the way to go. Across both Facebook and Instagram, posts with videos receive more engagement than those with any other type of content. And videos are more likely to be shared with others (especially on mobile devices) than any other type of digital content.
Not sure how to get started with video marketing? At PRIME, we’re here to help you dive into the video marketing world and start seeing results. Reach out to us to discuss your questions – we have answers.
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