Why video marketing is essential for business success in 2023
May 30, 2023
In today’s digital-first marketing landscape, where attention spans are fleeting and competition is fierce, incorporating videos into your business’s marketing strategy is no longer a question – it’s a necessity. Videos have the unparalleled ability to captivate and engage audiences, delivering your business’s message in a compelling and memorable way.
The challenge is where to start. If you’re feeling overwhelmed, you’re not alone. We’re here to help – from market research and video production to deployment and analytics.
According to Demand Sage’s 2023 report, online video is expected to account for 82.5% of all web traffic, making it the most popular type of content on the internet. This increase in customer demand is why businesses are quickly turning to video as their top content marketing strategy.
Let’s dig into the value of video marketing, examine the data and the top benefits – website traffic, page views, sales, etc. – you can achieve by incorporating videos into your strategy.
How consumers use video
Whether you realize it or not, your potential customers are already searching for your videos. Consumers search out video content to learn about products, services and brands, see tutorials and how-to videos, hear customer feedback and gauge the trustworthiness of a product or business. The question is: Are they finding what they’re looking for from you?
To get a sense of the potential impact videos could have for your business, check out these top findings from Demand Sage’s 2023 report:
- 94% of consumers will watch an explainer video to research a product, service or brand.
- 88% of people claim that seeing a brand’s video influenced them to purchase a product or service.
- Video searches have a 41% higher click rate than other search results.
- People watch an average of over 2.5 hours of video content every day.
- 91% of people say they want to see more online videos from brands in 2023.
Use videos to connect with your customers
Videos allow you to tell your business’s unique story in a compelling and engaging manner. Together, we can create videos that highlight your brand’s history, values, mission and your team so customers can connect with your business on an emotional level. As much as we like to believe we’re rational decision makers, the influence emotions have on our buying decisions has been well documented. Using video is an effective way to capture the hearts of your customers.
Also known as explainer videos or product demos, how-to videos are wildly popular as they demonstrate your product or service in a way the consumer can easily understand. This is the primary reason why YouTube is used as a resource to learn how to fix a problem or use a product. Brands that offer this type of helpful content earn the trust and loyalty of their buyers. BONUS: these videos can easily be repurposed on your website.
For businesses with a limited budget, social media videos are a low-cost tactic that offer your customers a look behind the curtain at your business and products, giving you the chance to build rapport and earn their trust. Today, video-dominant social media platforms like TikTok, Instagram and Twitter are especially popular among younger audiences, while Facebook continues to attract the most use from older adults. Knowing where your target audience is spending their time helps you determine where to showcase your videos:
- Instagram: males between the ages of 18 to 24 represent the largest demographic, followed closely by males between 25 to 34 years old.
- TikTok: Most U.S. TikTok users are 18-19, followed by 20-29; 62% of Gen Z uses TikTok and spend the most time on the platform.
- Twitter: Users between the ages of 25 and 34 were particularly active on Twitter, making up more than 38% of users worldwide.
- Facebook: Facebook is Gen X and Baby Boomers favorite social media platform.
While most email marketing platforms don’t offer embedded, playable video capabilities inside emails, you can still make use of video content to drive click-through rates and optimize conversion rates. Simply create a video (we can help!), grab a screenshot of the video with a play button over top and drop that image into your email body to entice more clicks.
Paid video marketing
Never underestimate the power of traditional channels like broadcast TV. Today we can add streaming services like Hulu and YouTubeTV to the mix, giving you a huge advantage in targeting your desired audience. With a little research, or by employing our expertise, you can utilize the hyper-targeting features of streaming services to know who’s watching what and when to showcase your videos to viewers most likely to buy – a highly-efficient use of your media budget.
Top video marketing benefits for your business
You need to invest in the most effective advertising strategies to attract new customers, and the analytics are clear: video is an engaging, memorable, easily consumable, highly searched and preferred form of content for today’s buyers. So why not deliver what the consumer is demanding? Capitalize on the following benefits of video.
Enhance audience engagement
Videos are an incredibly powerful tool for engaging with your audience. Unlike text or images, videos convey a wealth of information in a concise format, capturing attention and generating interest. By incorporating videos into your marketing strategy, you will effectively communicate your message and engage your target audience.
Amplify SEO efforts
Videos help drive website traffic and enhance your Search Engine Optimization rankings. Major search engines like Google prioritize websites with video content, making it crucial to optimize your videos for search engine visibility. By adding video content, you can significantly improve your website’s SEO performance, resulting in increased traffic, conversions and sales.
Boost conversion rates
When it comes to influencing purchasing decisions, videos reign supreme over images or text. Statistics show people are more likely to make a purchase after watching a video. By utilizing videos, you can effectively convey your brand’s message, showcase your products or services, address FAQs, highlight customer reviews and establish a stronger connection with your audience.
Cultivate brand awareness
By creating shareable and memorable videos, you can expand your reach, engage a wider audience and build a stronger brand presence in the market. Customers are more likely to remember and resonate with businesses that incorporate videos into their marketing strategies, and more than nine out of 10 people report wanting to see more videos from brands in 2023.
Optimize marketing budget
Videos are a cost-effective advertising tool. In the short-term, they draw immediate attention to your products or promotions and expand your reach. Over the long-term, professional videos can be repurposed and reused across various platforms. Thanks to their long shelf life, videos maximize your advertising budget.
With increasing competition online, you need to stand out by investing in the most effective marketing strategies. By harnessing the power of videos, you can elevate your marketing efforts, drive engagement, boost conversions and SEO rankings, enhance brand recognition and maximize return on investment.
Put our video production team to work for your business and take advantage of our cost-saving video packages. Email us now to start the conversation: email@example.com.