There is a lot of noise around the rise of video in today’s online world. Facebook newsfeeds are now dominated with videos, even TV programs about online videos are on the rise. ‘Who’s your favourite band?’ is increasingly being replaced with ‘Who’s your favourite Youtubber?’ amongst millennials.
Clearly video is dominating the online consumer world, but what about the corporate world? Should your business invest in video or have a video strategy?
Let’s review the statistics.
- Forbe’s statistics say that 65% visit a vendor’s website after watching a video
- Getting a page one listing on Google Search increases 53 times with video, finds Forrester Research
- According to MarketingProfs 70% of marketing professionals report video converts better than any other medium
- Cisco predicts 84 percent of Internet traffic will be video content by 2018
Now, let’s have a look at why this is. How our brains cognitively process videos vs. text differs significantly. Forrester Research says video is worth 1.8 millions per minute of text. So, like the majority of us, we are going to take the easy route to digest information, therefore we are drawn in more by video.
Clearly video seems like a good way to go. However, this doesn’t necessarily mean video is always the right choice. Furthermore, if you are to incorporate video in your marketing strategy you must think about the kind of content you want to include for the best ROI.
Video vs. text
Although we are more drawn to video, our brain is more passive when watching content, whereas when we read content, it is more active. We think when we read text and we feel when we watch video. So ask yourself; does the buying decision require them to think or to feel? Do you want to inform your audience of your product’s list of features and capabilities? Or do you want to get your audience excited about the launch of a new product? Maybe it’s a bit of both, but think about which one you want to invest in more.
Video content that brings the best ROI
This completely depends on where your target audience is in the buying cycle. If you are trying to attract new customers you probably don’t want to bombard them information, you want to keep it exciting and engaging. This is where investment will be highest, something that will get the audience asking ‘what’s this all about? How can I find out more?’
A more informative video is best suited for viewers farther along the buying cycle and who need to be nurtured. Use the video to provide or direct your viewers to the resources they may be seeking to get them closer to a purchase. You don’t need to be as concerned about the excitement of this video as your viewers are already engaged.
When thinking of your video’s ROI, the number of views a video received will not suffice. Do you go out and buy a large selection of colourful M&S food every time you see their advert on TV? Here are a few things you should be looking our for to measure your video’s ROI:
- The level of engagement and performance when a video is incorporated in your email marketing or marketing automation campaign.
- The response rates to your sales team when video is included in follow-up content after a call with prospects?
- The level of engagement across your social media platforms – how many likes, comments, shares?
So, have a think before you devise your video marketing strategy. Don’t just jump on the video bandwagon, think about what’s going to give you the best ROI.
Here at Channel Tools we are highly experienced in the world of video. Our Channel Media service is fully committed to offering high quality media production services to our clients. From strategy to story boarding to delivery, we can help you, wherever you are in the video landscape. Get in touch with us today.
https://channel-tools.co.uk/portfolio/channel-media/
Header Image courtesy of Video Studio at http://videostudio.io/jv/