In an article published last year, we presented the best ways to insert a video into an email. However, looking at the question more broadly, video marketing is interesting for many other reasons … whether it’s used in emails or in other ways. Also, when looking at relational marketing, video content is pretty essential nowadays. I think that in Quebec, organizations look at videos as a marketing tactic for special occasions when it should be taken more seriously. Having all the elements to make good videos should be seen as an investment in the success of an organization. So, before I get into big explanations on the how, I will go through the why of video marketing!
Engagement and video marketing
First, video accounts for 75% of internet traffic. To express this statistic otherwise, it’s as if in the race of the FIFA, the black team is composed of the traditional 11 players, while the orange team has 19.25 players. Now, 1) I know that 19.25 people is not possible, but 2) my example is not possible either! However, what I want to say is that if you had the chance to watch this game, you would see many more orange shirts than black. Well, it’s the same with videos. It’s getting bigger and more present. In fact, it is so popular that on YouTube, 1 HOUR of video is published each SECOND. No human can follow this rhythm, and no one has the ability to watch everything. In addition to growing exponentially, video improves the ROI of expenses at the marketing level. In fact, 1 in 2 (52%) marketing experts say it is the type of content with the best ROI. As a result, every dollar invested in video pays more than any other type of communication
A better ROI is not surprising since the CTR (Click Through Rate) is 27% higher, and offers 34% more web conversions. In more interesting terms, it means that our orange team, in addition to having more players on the field, takes possession of the ball during 57.15 minutes of the match, while the black team only have it for 32.85 minutes! Just with that, they have more opportunities to be winners. It does not stop there, since additional players as well as a longer time of possession means the orange will score 34% more often than the black team. It’s assured. These odds are hard to beat, especially if the black team practices with written texts, graphics and fixed images. Basically, a video is more visible, gets more clicks and converts more as well. Still at the level of engagement that accompanies video content, it must be mentioned that it is shared 1200% more often. So, when an article gets 1 share, a video already has 1200!
Finally, we must turn to engagement in the buying process, since video is very important. In fact, 1 out of 2 internet users will look for videos on a product or service before they even enter a store. Consumers are therefore looking for contextual and visual information that can guide them in their pre-purchase choice.
So here are my more general statistics on video marketing. Now that you have a better idea of the strength associated with this, let’s look at how it affects the different types of marketing.
B2C and video marketing
Sometimes, we know that something works by watching the big players. Do you know Zappos? It is a major player in the apparel and e-commerce industry, and has revolutionized the sale of shoes online since they started in 1999. Their track record is rather impressive, especially if we look at the fact that they use video marketing. They manage to sell 30% more products because they are presented on a person who is moving (that’s basically the video!). This allows the visitor to see the material, how the piece moves, and then the look in 360 degrees. In an industry like retail, 30% more gross profit over a year is extremely impressive!
Marketing video is not only useful for selling, since 3 out of 4 buyers prefer to watch a video to solve a problem related to a product. So, it’s not just a good call center that can help organizations. It is also the provision of clear and visual information that can help the buyer in his post-purchase phase. I am also convinced that a good customer experience can be helped through the creation of videos related to the buying process. But this is another subject!
B2B and video marketing
Let’s move on to B2B, a child who is sometimes unloved in marketing. I sincerely believe that the use of video is still in its infancy, unlike B2C. This is even truer if we talk about videos that are a little more creative. Videos are often event-related content, executive interviews or an introduction to the company and its history. There are, however, many reasons to use video marketing in different ways, since it brings sales! Let’s start with the discovery step. 3 out of 4 executives watch videos related to their industry at least once a week. They keep themselves informed about what is happening. There is therefore possibility to be seen, or to be discovered in this way. In addition, considering that they lack time, a picture is worth a thousand words concern them even more (or could I say a video is worth 1 billion words?).
This next statistic is what I think will convince some readers on the B2B side. Did you know that 1 out of 2 executives make a purchase after watching a video about a specific brand? For example, creating a video related to a product or service can convince 50% of your prospects to buy. By retaining that the B2B world contains fewer players, I think it’s important to bet on videos to increase the chances of being chosen as a business.
To wrap it up I hope I have convinced you that video marketing deserves a bigger place in your communication strategy. It deserves to be used for many things, be it to explain, show, discover, and more! Stay tuned for an upcoming article on the subject, as it will cover the best practices of this medium. There are several examples of companies that have developed their success through video, and I would love to share them! *UPDATE Just one week after publishing this article, some news about Facebook overstating video statistics have emerged. Since some statistics found in this article may be influenced by that, here’s an article on the subject that describes everything very clearly.
