Where does Video Marketing stand today?

By 2022, online videos will constitute more than 82% of all consumer internet traffic. Viewers spend an average of seven hours and fifty-five minutes every week watching online videos.  An extraordinary 78% of people report that they watch online videos every week; furthermore, 55% admitted to watching online videos daily. Despite all that, are you still contemplating whether you should be using videos as part of your social media content? Below are some Video Marketing facts that demonstrate how videos will help amplify your online presence.

Why Video Marketing, and why is it crucial for you to be utilizing it?

A popular misconception is that videos are solely used for entertainment purposes but, Video Marketing is one of the most efficient ways to raise brand awareness. Videos are great at explaining your solution in a short amount of time. 96% of respondents admitted to watching an explainer video to learn more about a new service. Moreover, Video Marketing can help improve your search engine optimization (SEO) ranking, as 65% of business decision-makers have confessed that they tend to visit a marketer’s website after they watched a branded video. Therefore, by supplementing your landing page with a video, you can boost your convertion rates by a whopping 80% in addition to your company’s SEO ranking. Additionally, attaching a video to your marketing e-mail can elevate your click-through rate by 200-300%. The share rate of videos exceeds that of any other type of content. 92% of viewers will most likely share videos that they have watched on their mobile phones with others.

Video Marketing is a powerful tool, so if you have not yet started utilizing it, now is the time to jump on the bandwagon. 

Video Marketing is here to stay.

You may think to yourself that Video Marketing is like every other marketing trend: overhyped and bound to fail. That is not the case. 99% of marketers stated that they will continue to utilize videos in their marketing endeavors. Additionally, consumers are demanding more video content, even when most companies are already making use of video marketing to a great extent.

In fact, 43% of consumers declared that they want to see more video content. Consider that 90% of prospects watch videos while scrolling through social media.  With a retention rate of 52%, video content could potentially capture a significant portion of these prospects.

Thus, it is beyond rewarding to exploit videos in your marketing strategies. Add to that the uncontested notion that Video Marketing is exclusively rising (with no signs of slowing down), and you have a trump card. It is little wonder that the New York Times have affirmed that we are living in a post-text world; consumers prefer short, didactic videos over long, boxy texts. 

Who is utilizing Video Marketing, and how are they benefiting from it?

As we have established already, Video Marketing is imperative to the success of a business. Below are some companies that have incorporated Video Marketing and have, as a result, reaped substantial success. 

Slack, a channel-based messaging platform, was gaining 10,000 new users every week, in consequence of utilizing Video Marketing. Slack made use of informative home page videos, as opposed to dull screenshots, which made their home page stand out. Furthermore, Slack used videos to publish client testimonials to build trust and credibility. Powerful video ads, in the form of short promotional videos, delineated the purpose and advantages of using Slack. In short, Slack made full use of video content to raise awareness, engage, and drive sales. It has worked phenomenally.

Grammarly, an app that detects spelling and grammatical errors in your writing heavily exploits YouTube ads. Videos have enabled them to showcase their product in a short time frame. Consequently, this has helped them increase brand awareness immensely. Indeed, their two most popular videos have a combined count of over one billion views! Grammarly used their videos to showcase the benefits of their products and showcased how it helps solve their audience’s pain points. They jumped on the fast-moving bandwagon, and it drove them to success. 

Indeed, jumping on that bandwagon is imperative to the success of your overall marketing endeavors. How do you start? Converting readable content into video content (consisting of tips & tricks, short behind-the-scenes snippets, and long in-depth explanations of the workings of your solution) is a convenient way to start.

Despite there being a myriad of different marketing options to choose from, one thing remains clear and certain: Video Marketing will invariably have the greatest impact out of all your marketing activities.