Why Video Marketing is Essential for Your Brand
What is Video Marketing?
Video marketing is the art of infusing video techniques into your marketing strategy to promote your brand, product, service, or message. Video marketing goes beyond mere promotion – it's a powerful tool that educates your audience and ignites engagement on social and digital channels. It's like the conductor of an orchestra, orchestrating a symphony of sights and sounds that captivate hearts and minds.
Working with a video production partner to create videos that directly or indirectly promote your business or brand will lead to terrific results. Those videos have the power to increase sales, raise awareness of your company's products and services, and engage both existing customers and potential stakeholders. However, video marketing isn't just an art form – it's also a discipline grounded in data. That's why your marketing department needs to interact with customers and monitor various metrics to ensure your videos are hitting all the right notes.
While video marketing is just one piece of the grand marketing puzzle, it certainly holds a special place in our digital era. Thanks to the vast wonders of the internet and social networks, the role of video marketing has become even more significant. So, grab your popcorn, sit back, and let the statistical wonders of video marketing transport you to a world where cinematic storytelling reigns supreme.
Top Video Marketing Statistics
Every year for the past decade, Hubspot has put together an annual report on key video marketing statistics. Here are just a few highlights from a business perspective:
91% of businesses use video as a marketing tool
96% of marketers see video as an important part of their marketing strategy
92% of video marketers reported that video gives them a positive ROI
87% of marketers feel that video has a direct, positive impact on sales
95% say video marketing has helped them increase brand awareness.
96% of marketers agree that videos have helped increase user understanding of their product or service
Moral of the story: More businesses are using video as a marketing tool than ever before. On top of that, 70% of businesses that currently don’t use video as a marketing tool plan to do so in the next 12 months, according to Hubspot.
Top Video Consumer Statistics
Let’s pivot to the consumer perspective and see how the average person is interacting with video marketing:
96% of people have watched an explainer video to learn more about a product or service.
89% of people say watching a video has convinced them to buy a product or service.
91% of people say they want to see more online videos from brands in 2023
51% of people are more likely to share video with their friends than any other type of content, making video comfortably the most ‘shareable’ type of online content.
People on average watch 17 hours of online video content per week. This means a slight fall in online video consumption from the past two years – but also remains a big increase compared to years prior.
Video content is being used by customers in all aspects of their online lives. “From watching explainer videos to learn about products, services and apps, to being convinced to make purchases, to sharing with friends, the numbers illustrate the dominance of video in online interactions.” It’s clear to see that video is now a key component of the online customer journey. If it’s not already a key component of your business’s online marketing strategy, it’s never too late to start taking advantage of the benefits.
Benefits of Video Marketing
Video boosts conversion rates
According to HubSpot, including video on landing pages can increase conversions by a whopping 80%. Watching a compelling video can influence buying behavior and turn a visitor into a lead. Increasing conversions is all about showing people why your product, service, or brand is so great, and giving them all of the tools they need to make an informed decision to convert.
Video increases CTR (click-through rate) in email campaigns
Our inboxes are constantly filled to the brim with unread messages, so getting customers to open your email can be a huge challenge. We are all inundated with emails and getting people to open your email is a growing challenge. Turns out that adding “video” in your subject line can increase open rates as well as a 200% increase in click-through rates. Why? Well, it’s easier to watch a video than to sit down and read a bunch of text, right? Especially when you’re trying to show how to use your product or tell an emotionally compelling brand story.
Search engines love video
Why does Google love video so much? Search engines look for content that engages viewers. There is nothing that draws users into pages longer than a video. And if you post your videos on YouTube as well as on your website, your visibility, and chances of appearing in search are greatly increased. Consumers are demanding more video content, and Google is responding.
Video builds trust and credibility
Video is the perfect way to create a personality for your business and brand, allowing you to connect with your audience and earn their trust. As we saw earlier, about 90% of users say that product videos help in the decision-making process. In a way, the transparency of a video can offer that “try-before-you-buy” experience. The more videos you have to educate and inform your customers, the more you will be building on that foundation of trust. And trust translates into sales.
Video supports social sharing
Don’t believe us? Just think about all those dog-themed Instagram reels your mom keeps DMing you. People love sharing videos. Especially from their phone. And all that organic, word-of-mouth sharing is basically free advertising for your brand.
Conclusion
Video marketing is all the rage these days. It seems like everyone is jumping on the video bandwagon, and it's no surprise why. Based on the data we covered, more than nine out of 10 people want to see more videos from brands in 2023. That's higher than ever before.
Video marketing has become a must-have for brands looking to generate leads and increase brand awareness. It's like a magic wand that captivates audiences and ensures success. And the best part is, this trend shows no signs of slowing down. Video is here to stay, and it's only going to get bigger and better in the coming decade.
Of course, with more and more brands using video as a marketing tool, there’s gonna be increased competition for audience attention. Is that a reason to abandon your video hopes and dreams? Heck no. It simply means that you need to up your game when it comes to content quality. Your videos need to be well-planned and expertly executed to stand out from the crowd.
And that's where we come in. At Haunted Basement, we specialize in creating high-quality, cinematic brand videos that will leave your audience wanting more. So, if you're ready to take your marketing to the next level and ride the wave of video success, get in touch with us. We can't wait to help you make a splash in the world of video marketing.
