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Why Video Is Important for Businesses

It’s blindingly obvious — the world is head over heels in love with videos. And how can we help it? They’re easy to digest and provide a safe haven from the abundance of textual information we find online. Not only that, but they also help us unwind and serve as a good distraction from everything, especially when countries are scrambling to put a stop to a global pandemic.

Now more than ever before, we need videos and the content they provide. Luckily, all we need to do is open some social media platform and we’ll immediately get our fill. Indeed, video content has consumed our lives so much so that we can’t remember the time before they came into our lives.

Brands are increasingly becoming aware of what their consumers need and want. And with one billion hours of YouTube content being watched, it’s undeniable — they want more videos.

Aside from being convenient and efficient, video marketing offers businesses an appealing, versatile, and shareable tool to reach their audience.

So, do you use it to promote your business?

Regardless of whether your answer to this question is a resounding ‘yes’ or a confident ‘no,’ today we’re going to tell you why videos are important to grow your company and build trust.

Let’s start now!

Engage Your Audience

Looking to increase engagement on your website? Well, videos are highly effective in helping you achieve this. Of course, text and images are amazing. However, even if you’re a bookworm, you have to admit that videos are just extremely captivating and pleasing to the eye. And trust us, your page viewers are more likely to open them than some article.

Consumers are only one click away from engaging, embedding, sharing, and commenting on video content.  According to Forbes, they devote 2.6 more time to those websites that have videos than to those without them. This is useful for those businesses looking to generate ad revenue from their sites.

Also, an engaged customer is more likely to reach your call-to-action and respond to it. What do you want them to do next? Follow you on Instagram, fill in a form, or subscribe? Use your video as an effective marketing tool to lead your customers towards your ultimate goal!

Convey Your Message Clearly

If a picture is worth a thousand words, then videos are worth 1.8 million words. Well, that’s at least according to Dr. James McQuivey of Forrester Research. And we can go as far as to say that he’s completely right.

In fact, viewers remember 95% of a message they see on video compared to mere 10% when reading it in a text. So, the real power of communication lies in videos. Nothing can beat them when you want your customers to understand more complex and sophisticated messages. And they are an unmatched medium when introducing new products or services.

What’s more, they remove the need for the bounds of text blocks, thus allowing you to combine sound with moving images to leave a strong impression and deliver a clear message to consumers. No matter what you want to relay, videos will help you do that quickly and directly.

Attract Mobile Users

Video and mobile go together like peanut butter and jelly. Well, that’s at least according to a study revealing that 90% of consumers watch videos on their phones.

This doesn’t come as a surprise — people lead hectic lives and are constantly on the go. Thus, the number of smartphone users is growing which is good news for marketers. Namely, the more smartphone users, the larger your video audience is.

Additionally, Google informs us that mobile users are 1.4 times more likely to watch ads than those using computers or televisions. Not only that, but they are also more inclined to share them.

Improve Email Marketing Campaign

Want to hear something impressive?

Including one video in an email can result in a massive 200-300% growth in click-through rate (CTR). And if you only mention the word ‘video’ in the subject line, you can increase open rates by 19%.

This only goes to show that customers find it much more appealing to watch a video than read text (although they’re checking their emails regularly). In the end, a good video goes a long way.

Increase Return on Investment

Come to the video side, you’ll increase your return on investment (ROI), marketers say!

In their 2020 report, Wyzowl has shared that 89% of marketers think that video leads to a good ROI. Although video production can be time-consuming and expensive, it will pay off in the long run. 

In the beginning, you can focus on explainer videos because they generate the most return on investment. In fact, they attract 95% of online consumers who love finding out more about products or services through them.

Boost Conversion and Sale

Being both entertaining and visual, videos can make you a lot of money. In fact, brands implement them in their marketing strategies to convert more leads. Studies show that having them on your landing page can increase your conversion rate by 80%!

Of course, they can generate more sales as well. As many as 74% of users reported that they bought a product after watching an explainer video, while 77% of consumers were convinced they should buy it. Okay, we’re sold! Videos are definitely the type of content marketers should invest in.

When you come to think of it, it’s not surprising that videos are that effective. Remember, vision is our most dominant sense, so no wonder videos are taking the marketing world by storm!

Google Adores Videos

Videos offer you a unique opportunity to increase the amount of time people spend on your website. Consequently, longer exposure is beneficial in that it builds trust and shows search engines that you have good content.

Here’s one whopping figure: You have 53 more chances of appearing on the front page of Google if you have a well-optimized video on your site. This might not be shocking to some, after all, Google does own YouTube.

So, what you should do is optimize your videos for SEO. Come up with compelling titles and descriptions. Include a link back to your website or product details page. Do everything you can so that your customers are encouraged to take the next step.

Lead to Social Shares

Social networks also invest in videos and try to roll out new features to support them.

Indeed, every major platform wants a slice of the video pie. Just take a look: Facebook has live videos, Instagram includes stories, while Twitter offers Periscope. And with an average user spending 2 hours and 23 minutes on social media, they’re exposed to a vast amount of content.

Out of everything used in content marketing, videos produce 12 times more social shares than text and images combined.

However, on social media, people are more likely to share that content which strikes a chord with them. Therefore, find a way to give them what they want because social shares can drive more traffic to your website.

Video Ads Are Beneficial

One metric that speaks in favor of video ads is click-through rate. We touched upon CTR in one of our articles. But just to be on the same page, CTR shows the percentage of people who were encouraged to take some action after watching your video.

Now, video ads’ average click-through rate amounts to 1.84%, which is the highest CTR of all digital ad formats. Here, the completion rate is also important to track as it measures the amount of users who complete a particular business goal.

For instance, the completion rate for a 15-second non-skippable YouTube video ad comes to 92%.

So, we’ve covered why videos are important for your business. Let’s now go over some stats that prove video marketing is here to stay!

Statistics on Video Marketing

Still having doubts about video marketing?

Don’t worry, we have another trick up our sleeve to help us dispel each and every one of them — more statistics! If social shares, return on investment, and click-through rate weren’t enough to persuade your business to invest in video marketing, these numbers will.

Let’s see what the figures have to say.

Educational

This might be the shortest way to describe videos, but they truly are educational. So much so that 97% of marketers say that they help consumers understand products.

Today, customers are one quick internet search away from finding the most suitable product that they can subsequently order online. Thus, marketers working in different fields should make a value-based offer to their target audience. And what better way to do this than by using videos that are more than capable of giving an up-close view of products or services. 

Search Engine Optimization

According to Cisco, videos are poised to dominate the Internet in upcoming years. In fact, by 2021, 80% of Internet traffic will contain videos.

And now that you know that Google loves this combination of moving images and sound, why don’t you start adding it to your website? But don’t forget to incorporate the right keywords, a strong title, and a solid meta description!

Live Videos

We’ve already mentioned live videos when discussing social shares, but get this — they’ll account for 13% of traffic by 2021. So, if you’ve ever thought about learning more about Facebook Live or Instagram stories, now is the time!

Both of these features are great if you want to offer customers a rare glimpse into what’s happening behind-the-scenes. The most attractive thing about Instagram stories is that they’re only up for 24 hours, so this leads to a real-time feel. Also, marketers have a chance to create ads that focus on time-sensitive promotions.

If you’re wondering, here’s why real-time content is valuable:

  • It offers a sense of face-to-face interaction;
  • It builds brand trust and increases awareness;
  • It provides your audience with casual, interesting updates.

Therefore, why don’t you make the most of it?

You Know What to Do

At the end of the day, video is the best marketing tool you can use to stand out from the crowd. One of the reasons for this is that we all crave connection as the world is becoming more impersonal. We desire to see and hear people, and get a glimpse into their everyday lives.

Remember, video content is the best way to get up close and personal with your audience. Don’t only think about profit — try to articulate your philosophy to them or share some valuable information. The more they know about you and your positive practices, the more likely they are to remain loyal to your brand.

So, you know what to do — start investing in video marketing now!

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