With digital marketing surpassing all offline marketing strategies, your online business presence is your key to expansion and growth because ‘Digital is the Now of Business.’ But wait! Have you considered hiking your video marketing investment for content creation? If not, we give you compelling facts on Video Marketing to re-think your strategy:-
- — 87% of businesses use videos as an effective marketing tool.
- — 80% of consumers prefer videos over text content.
- — More than 75% of all videos are viewed on mobile devices.
- — Instagram stories drive more than 60% of consumers to get interested in a product or service.
- — YouTube has taken over Facebook in terms of influencing a consumer’s purchase journey.
- — 88% of marketers believe they get a good ROI through video marketing.
- — Over 80% of marketers use videos as a performing marketing tool for generating leads.
- — The top three platforms where video viewers consume content are YouTube, Instagram, and Facebook, whereas LinkedIn members are also increasingly sharing videos on their profiles.
- — 93% of businesses claim to have new clients because they watched a video on social media.
- — Over 3 billion people (nearly 45% of the world’s population) watched or downloaded videos in 2022.
- — In India alone, we have nearly 500mn YouTube viewers. Globally, India is the country with the most YouTube viewers.
- — Last but not least, CTV/OTT viewership has increased by more than 41% in India, and India accounts for 70-80 million paid subscribers with about 4 hours of viewing daily. Hypothetically, these subscribers also account for a significant number of high-spending consumers.
The above statistics summarize abundant data available on surveys that claim the above facts. Our objective in stating the points was that Video Marketing is only increasing by the day, and if you have not yet realized this fact, start thinking about it.
If the above numbers have already appalled you, let us reflect on Video Marketing’s Benefits. We are listing only the key ones here:-
- — Increase in Brand Awareness: Reaching your target audience through various touch points of their buyer journey can be achieved faster through a well-crafted video on social media.
- — Improve the Lead Generation Game: Videos support the consumer’s purchase decisions and leads come easy when a product or service is seen in action.
- — Improve Sales: Explainer videos reduce support calls and are instrumental in closing sales faster than any other marketing tool.
- — Generate more Traffic: Emailers with an embedded video have a 300% higher rate of open clicks than text mailers, and if these videos are on your website, your target audience tends to spend more time on the website, thus boosting your SEO efforts.
- — Increase User’s understanding of products: A visually appealing video with the right brand sensorial and content can deliver the product messaging to a larger audience that can translate into a higher conversion rate.
We believe the statistics and benefits of Video Marketing have helped you decide to reach out to the best video production agency in India. But here’s what you need to know about the Video Marketing Trends of 2023:
- User-Generated Content: Capture every opportunity to get video content from people who have used your product or service. These could include content pieces like testimonials, reviews, recommendations, and ratings that you could use on your website.
- Types of videos: Businesses will create more and more content using various kinds of videos. Ensure that the type of video you make reflects the business objective you want to achieve. Here are some recommendations:
- 1. Behind-the-scene videos (video production in action, office celebrations, and event preparation are some examples)
- 2. Educational videos (would include how-to, why-to, DIY, or product-demo videos)
- 3. Training videos (if your product is technical, then videos are great for manuals & instructions)
- 4. Explainer videos (helpful in explaining the navigation of a software or website, construction site videos, and industrial production are some of the examples)
- 5. Entertaining videos (Businesses have learned to produce entertaining viral videos in a bid to have a higher brand recall value)
- Social Commerce: Social Media + E-commerce = Social Commerce. You can achieve great sales through social commerce by directly explaining your product to the consumers. More and more local businesses are using social media to demonstrate their products through live streaming and generate sales.
- Video-first algorithms: Search engine algorithms are constantly updated. The trend towards showing video firsts in search engines is increasing, and content with videos are shown above text content. SEO has also evolved to a video-first strategy; hence it is advisable to produce trending social media videos at scale.
- Virtual events are gaining popularity: Virtual events are increasing in popularity. Virtual expos, conferences, and networking events call for high-quality interactive videos. Here’s where the use of VR (Virtual Reality) would also start gaining momentum.
- Quality over Quantity: The one thing that can drive success more than anything else is the quality of the video. Invest in a well-thought video strategy starting with the ‘Why’ first and structuring it down to achieving your goal. Though popular, videos created on a smartphone using an app reflect the lack of structure and thought behind the messaging. Consider your videos a sales tool for your business- how would you like your salesperson to represent your business? Well, use the same paradigm while creating videos for online sales performance.
- Connected Television Ads: For the first time, streaming CTV & OTT have beaten cable and broadcast television viewership. Furthermore, Ads on CTV & OTT are also cheaper and regional, raising the need for 15-30s video ads with no-skip options. However, the bar needs to be raised on messaging quality in these 15-30s.
- Optimized Videos: Ensure that your videos are optimized for SEO with the right keywords in the content summary and on call cards placed in strategic locations during the video.
In conclusion, video content has evolved far from being an exclusive domain of filmmakers and television. However, as in the case of films & tv, there are wins and losses owing to the story content. So is the point in video marketing. Considerable success depends on a well-structured video marketing strategy. The hero of a successful video is the quality of its content and the way it is presented. Good quality and consistent videos are your most crucial investment in marketing for 2023.