Video has always served as an effective tool for businesses to train employees, to advertise via commercials and television media buys, or even to preserve recordings of important events.
But years ago, video marketing existed in a void where ROI could scarcely be proven and data supporting a video’s effectiveness could only be produced with costly spends in media and advertising research. Effectiveness was also at times a rough guess, achieved by monitoring an uptick in related sales and so on.
Today, businesses and brands of all sizes can accomplish goals with video marketing much more effectively, with a bevy of easily accessible, user-friendly platforms like YouTube, Facebook and more.
We have so many accessible and affordable ways to use, share and measure video these days, that video marketing has become highly crucial to businesses, and continues to grow:
- 48% of marketers plan to add online videos to their content strategy in the next year.
- 76% of professional marketers and business owners report positive results with video.
- 9% of marketing professionals worldwide name video as the type of content with the best ROI.
There are an innumerable amount of favorable statistics that show just how powerful and effective video marketing is when leveraged throughout a company for marketing and PR, sales and training, operational support and more.
Here are just a few:
- 80% of online viewers recall a video ad they viewed in the past 30 days.
- 500 million people watch videos on Facebook every day.
- Video enhances brand awareness, evokes emotion and is memorable.
- 90% of users say product videos are helpful in the decision making process.
- Including video on a landing page can increase conversion by 80%.
- Testimonial videos are some of the most powerful and persuasive tools available.
- 75% of executives watch work-related videos on business websites at least once a week.
- 59% of executives agree that given the choice of text vs. video they will choose video.
- Video increases attention span and information retention.
Many businesses don’t take advantage of the platforms and analytics that are within their reach. In fact, only 35% of businesses are using intermediate or advanced analytics to measure video performance.
But selecting and using YouTube, Facebook or one of the many other platforms is essential to engaging your viewers and fans with video, enhancing brand awareness and capturing valuable stats on viewership.
Intermediate and advanced analytics can include:
- Interaction (shares or likes)
- Retention rate (drop-off times)
- Reach (unique views)
- Sales or other conversion rates (sign-ups, downloads, etc.)
Most of these measurements are available through free platforms like YouTube, Vimeo, and Facebook while even more advanced features and analytics can be found in other affordable hosting programs and platforms.
Some other obstacles that many businesses may have when it comes to using video include not knowing where to start, budget concerns, and production fears.
This is where an experienced full-service marketing agency can help. In addition to art direction and messaging, they have the ability to tap into top talent that has the video production skill and know-how that will deliver stellar results.
At The Byne Group, we work closely with our strategic video partner Grey Sky Films to guide our clients through the process from Discovery to Creative to Production to Distribution, helping businesses create the right video marketing content that will help them achieve their professional goals with real-time ROI.
Let us tell your story with video.