Many business owners may have heard that video is in important tool for marketing, but remain unsure of the specific benefits that video can provide for their company. Video production can be major investment, and it's important to know not only what video content can do for your business, but the kind of content that may bring the most value to it as well.
Taking a look at the Numbers
Studies done by marketing experts show great advantages for businesses who use video for their marketing or customer acquisition. Here's some of the most striking examples:
72% of customers said they would rather learn about a product or service by way of video
Viewers retain 95% of a message when they watch it in a video, compared to 10% when reading it in the text
Marketers who use video grow revenue 49% faster than non-video users
More than 82% of online consumer traffic is video
While these statistics are the most relevant to businesses with an online presence, they also convey the power of videos regardless of platform. But rather than simply looking at numbers, let's also delve into concrete video applications for your business.
Having a video for the landing page of your website is an excellent way to increase the the amount of time users spend on your site. Studies indicate that users spend 88% more time on websites that have video compared to those that don't. It's a great way to grab the attention of visitors and quickly convey your brand image & information. A video will make your site look more polished, professional, and interesting!
One of the most common way to use videos is for advertisement. They are an incredibly powerful tool for this application. It allows you to convey large amounts of information to potential customers while engaging their attention better than any other format; Video ads give viewers a visual reference for your product or services. Another great advantage is the wide range of platforms available to air your video, from television and YouTube to other social media platforms and Google display ads. Video ads can also often be repurposed into audio-only ads for radio, Spotify, or podcasts.
Aside from running advertisements on social media, video can also be an excellent way to build an organic presence on social media. Video content is more likely to be shared and engaged with than graphics or text. A single video can also easily be repurposed for different social platforms & formats, giving it excellent return on investment. And with video making up an increasingly large portion of social media content, it is a critical component of a successful SM presence.
It’s easy enough to take a couple of photos and write out a bullet-point list of your product’s key features, but a video has a much higher chance of actively engaging potential buyers. A video gives audiences a better physical picture of your product, and synthesizes visual, audio, and written information all at once. 84% of people say that they were convinced to purchase a product by a video.
Training videos are a cheaper and more convenient option for business owners than having instructor based training. It allows for flexibility in time, location, and situation for training sessions. A training video also combines multiple avenues of conveying information, (e.g. visual, audio) so it can fit with a wide range of learning types. And as mentioned previously, information learned through video is remembered much better than information learned through other methods.
Most video applications we focus on today are digital. However, for brick and mortar businesses, a video displayed on a TV in a lobby, waiting room, or front facing window may be a great option to promote themselves. There is almost no cost for displaying them like there would be for digital or broadcast ads (aside from the cost of a TV!). Clients and customers in a lobby or walking by are often unoccupied, making them a great audience for the information you'd like to convey.
These are some of the main uses video can serve for a company. Each type may not be a good fit for all businesses, but all businesses can benefit from at least one kind of video application.
Interested in producing a video for your company? We can help! Reach out here for a free consultation: https://www.silverglassky.com/quote