Throughout all forms of digital media, the disruptive power of video is changing the face of marketing and advertising most fundamentally. Video, not surprisingly, continues to dominate the content world. Consumer reports have shown that videos can have greater impact than what written blog posts, specialized imagery, testimonials, and infographics can traditionally achieve. The disruptive power of video content is unquestionable – direct consumption straight to your system. Now, video marketing usage is taking over branding and channel-specific marketing strategies at a rapid rate. If you’ve been sleeping on video, it’s time to wake up.
Let’s look at the overwhelming statics:
81% of businesses use video as a marketing tool (up from 63% in 2017.)
85% of businesses regard video as an important part of their marketing strategy (up from 82% in 2017.)
82% of businesses plan to spend more on video marketing in 2018 (the same percentage as last year.)
65% of businesses who don’t currently use video say they intend to start using it in 2018 (up from 34% in 2017.)
Obviously, businesses are using video as a key part of their marketing strategies. However, marketers who report solid ROI production from video usage is down from 83% in 2017 to 78% in 2018. While not always fiscally profitable, this exemplifies the persuasive power of video:
97% of marketers say video has helped increase user understanding of their product or service.
95% of people have watched an explainer video to learn more about a product or service.
81% of people have been convinced to buy a product or service by watching a brand’s video.
69% of people have been convinced to buy a piece of software or application by watching a video.
Consumers clearly prefer video over other content formats when seeking information and education. They are hungry to learn more about products and services IF they can see it provides a direct value to them. They rely more and more on video as a key influencer in their buyer journey. When was the last time you had the time or inclination to read a publication beginning to end? We all know the number of people willing to read through a written article is trending steeply downward. Video gives businesses and marketers opportunities to teach their consumers about their brand, provide direct value to the consumers, and relate to them in more engaging ways. Combined with integrated strategies and specific market targeting, video provides a direct line into the hearts and minds of any given group of consumers. Here’s how:
Where both video and text are available on the same page, 72% of people would rather use video to learn about a product or service.
76% of marketers say using video helped them increase sales.
47% of marketers say video helped them reduce support queries.
76% of marketers say using video on their site helped them increase traffic.
Video not only influences purchase decisions, it plays a huge role in modern branding. Companies with heavy video usage as a part of their brand personality have significantly higher engagement with their customer base. For example:
Having watched a branded video that they enjoyed, 83% of consumers would consider sharing it with their friends.
Today’s consumer needs convincing that your brand is worth engaging. Your products might align with their wants and needs, but if you aren’t able to clearly define how, you may lose the customer before they’ve started the purchase journey. Video gives brands and marketers the opportunity to not only explain their products and services – it gives consumers the chance to experience the brand in a uniquely interactive way.
If you want to give your business and your audience a valuable and engaging resource, look no further than video utilization. If you want a team of expert, experienced video producers and digital marketers, look no further than Gragg Advertising.