In the modern age, video marketing is a ubiquitous feature of everyday life. From the tailored, targeted ads on our social feeds, to the video billboards cleverly placed around our city centers. Video marketing has long been a cornerstone of any large, established business’s growth strategy. And with the advent of smartphones and the affordability of modern video equipment, the format has never been more accessible, or attractive. Companies that may previously have shied away from using video marketing are no longer left roadblocked by prohibitive costs or lack of technical knowledge.
However, despite the relative ease by which video can now be recorded, edited, and distributed, video marketing still has its skeptics. If you’ve yet to implement video marketing into your own business, we’re here to explain why you may want to reconsider. Below, we’ll offer you a broad overview of everything you need to know about the format, along with why you can’t afford to ignore it!
Is video marketing effective?
According to the Social Video Trends: Marketer Insights for 2020 report, the #1 way consumers discovered a brand they later bought from was through video ads. A recent report also found that consumers spend over 100 minutes viewing online video content per day. This is a dramatic increase from previous years, fueled in part by the meteoric rise of TikTok during the first wave of the pandemic. Crucially, audiences are accustomed to viewing hours upon hours of video content every day — as a business owner, you’d be foolish to ignore the potential exposure your brand stands to gain through making use of the medium.
Videos consumed via social media are capable of generating high engagement, and if they’re particularly entertaining, they could even go viral. Produce a clip worthy of sharing, and your audience will effectively do your marketing team’s job for them, distributing your content among their social circle. Placing a video on your website is useful for SEO purposes, too. YouTube is now owned by Google, and so the influence of videos on search engine rankings has increased significantly — with an embedded video on your website, you’re now 53 times more likely to show up first on Google. Videos aren’t just great for entertaining your audience, they’re also perfect for informing them, too. The flexibility offered by the medium is unbeatable.
Is video marketing expensive?
Yes and no. Despite what you may have been led to believe, producing video content can be done on a tight budget. In fact, you might be surprised at the kind of results that can be achieved with only an iPhone and a Joby Griptight phone mount. Even most entry-level smartphones are more than capable of producing fantastic footage in 4K resolution — it’s all about making the best use of your device. However, it isn’t just the production process that must be factored into your budget allowance — you’ll also need to consider the costs of distribution. If you’re aiming to deliver your content to the widest audience possible, Facebook and YouTube both provide dedicated advertising services at competitive prices. Pricing can be scaled based on the estimated number of viewers the ad will reach, offering an affordable option for businesses operating on modest budgets.
Depending on the type of business you’re running, there may be other expenses, too. Take the ecommerce sector, for example: increasingly, store owners are choosing to implement video content directly on their sites. Replacing static product images with looping videos, or greeting new visitors with flashy promotional footage can inspire shoppers and drive conversions, but there is a catch… Unless your hosting provider specializes in ecommerce, or has a large bandwidth allowance, uploading hours of footage could result in additional costs. Cloudways offers hosting solutions tailored for ecommerce, but for the majority of small businesses, most cloud hosting service providers should offer ample bandwidth allocation. Aside from switching hosts, there’s always the option to create a YouTube channel and upload your content there instead, though this will mean that your videos won’t be embedded directly on your store’s page.
What are the advantages of video marketing?
On the fence about implementing video content into your next marketing campaign? Don’t be. As a format, video allows your business to:
- Say more with less — whether it’s a snappy 15-second video clip for social media or a 5-minute ad, videos make efficient use of the audience’s time. Consumers are less likely to lose interest or become distracted when a message is being delivered through video, and tricky concepts can be explained in a simple, palatable way through a combination of images and text.
- Easily measure campaign metrics — video marketing allows you to track your campaign’s progress and analyze its impact in high detail, depending on the distribution method you use. For example, Facebook’s Ad Manager allows access to details such as average watch time, clickthrough rates, and information about who is watching your content. This data can then be used to inform future campaigns, allowing business owners to fine-tune their strategies.
- Get creative — The opportunities for creativity are truly limitless when it comes to video. Want to create a deeper brand connection with your audience? Host a live stream event on Facebook and introduce the key figures of the business! Introducing a new product? Create a quick animated explainer to demonstrate any new features. Whatever the aim of your campaign, there will be a video format out there that’s perfect for the job.
- Tap into higher engagement — 78% of people watch online videos every week, and according to InVideo, video content is 12 times more successful at engaging its audiences than other formats — this is likely due to how easily digestible video is as a format. Launching a video marketing campaign could prove effective if you’re looking to boost engagement with your brand.
What are the disadvantages of video marketing?
While there are plenty of benefits to the format, video marketing isn’t without its drawbacks. For example:
- Video marketing can be expensive to produce — While the use of professional equipment and editing software may not necessarily be needed, only so much can be achieved with a simple smartphone and limited editing skills. Purchasing a specialized camera or hiring a professional videographer and editor won’t come cheap, but it may be necessary if you’re promoting a premium product or service, as audiences are likely to have high expectations for any content associated with your brand.
- Creating video content requires a considerable amount of time and effort — From the initial idea to the creation of a creative brief, then to the creation of a storyboard, to filming and editing – even the shortest video clips can consume significant amounts of valuable company time. Considering that these are hours you could otherwise spend on growing your business, it’s worth looking into whether this time investment is truly worth it.
- Videos can be distracting and may cause consumers to lose focus on your brand — With the creative freedom that the format offers, there is a risk that your content could lose sight of its core purpose: the promotion of your product or service. If you do decide to use video in your next campaign, be sure to stay focused on holding your audience’s attention, promoting your brand, and inspiring them to take action. If you’re implementing video onto an existing site, make sure it enhances the page and encourages conversion, instead of distracting (or worse, annoying) any visitors.
From budding startups to established companies, video marketing is an essential part of any business’s marketing strategy. While it may often require a significant investment of time and money, it’s also an incredibly versatile way to reach a wide audience with your brand’s message. When used effectively, video marketing can help to build trust and credibility with your target market, increase brand awareness, and boost sales.
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