In July 2014, Cory Kalanick, a firefighter from Fresno, California, was on duty. He enters a house gutted by fire to salvage whatever he can. He finds a kitten lying on the floor, gasping for breath. Using a child's oxygen mask, he resuscitates it back to life. The GoPro camera attached to his helmet records the vulnerable, life-saving act. Little did Cory know that his video would go viral. The video broke the internet when GoPro rereleased it as an ad called "GoPro: Fireman Saves Kitten" for its "Be a Hero Campaign." The camera company pulled off a massive marketing feat and witnessed a sales jump in its GoPro HD HERO3 camera. This example is a classic case of leveraging video marketing for reach, resonance, and results.
The aim of marketing
Before we get into the nitty-gritty of the topic, let's briefly discuss the aim of marketing. Marketing aims to offer value-based products or services to its target consumers, strengthen brand loyalty and generate revenue for the business through increased sales. And that's a lot on the plate for a marketer.
And what's the purpose of marketing? The fundamental purpose is to arouse the interest of your target consumer in your advertised products or services. All things start with getting the attention of consumers.
Do we need marketing?
The answer would have been a "NO" if we considered a hypothetical situation where a particular business has a monopoly and zero competitors. That's hardly the case today, where the competition in any segment has reached dizzying heights. Everyone is eyeing a larger share of the revenue pie. And even if a specific business is topping the charts, it's a slippery spot. To retain the coveted position and have a larger share, a company has to use a robust marketing strategy.
With digitalization, the ubiquity of social media channels, and the rise of artificial intelligence (AI), the competition to woo customers is more than ever. Big or small businesses have showcased their products, how to use them, and even "behind the scenes" vlogs to capture the audience's attention. The global digital advertising and marketing market stood at $350 billion in 2020 and is expected to reach $786.2 billion by 2026.
Understanding video marketing
The exponential growth of internet and mobile users is adding to a shifting pattern of video consumption, creating a perfect opportunity for businesses to talk about their business through powerful storytelling. The global average video consumption is 84 minutes per day. Millennials watch 10-20 hours of videos per week. Individuals are dedicating approximately 17 hours per week to watching online videos in 2023.
There has never been a time when moving images or videos held so much power in the business narrative, making them a powerful and effective sales and marketing tool. Ask any person on the social media video marketing team today. What's their dream moment? It's a no-brainer that the answer would be to create a video that goes viral. Digital marketers know the potential of one viral video, which can get them crazy sales.
Defining video marketing
Marketing has been here for decades. With evolving times, it absorbs elements and communicates to customers in a tone they like to respond to. The fast-paced internet today streams viral videos in seconds. Using the video format to market ideas, brands, products, or services to drive sales, raise awareness and build the brand by connecting to customers, is called video marketing.
It is an indispensable part of marketing today. Online videos today have a reach of 92% worldwide.
Benefits of video marketing
Whether talking about a small business owner or a marketing professional, incorporating video marketing into your strategy can yield remarkable results. Brand awareness through a steady stream of informative videos signals that your brand is interested in communication with the audience. It opens channels for customer engagement and interaction.
As a result, website traffic starts picking up, improving conversion rates and, ultimately, sales. What begins with a well-intentioned video ends up in an even better stage- the customer at your door. That's precisely what the 3Rs – Reach, Resonance, and Results mean. Let's look into the advantages video marketing brings to businesses.
1. Brand messaging and trust building
Reports suggest that most consumers shop from brands they follow on social media. And what’s the reason? Because youtube, Instagram, and Facebook are new information repositories bundled as videos. A lot of research and analytics goes into creating these exciting videos. And if it’s a good one, it influences the prospective customer on multiple levels. That’s what reach and resonance mean.
Businesses that often churn out videos that solve customer problems, educate them, and win their approval through emotive storytelling gain consumers’ trust. And it takes just one good piece of content to go viral. The social shares of likable content make the sharer a participant in the marketing chain bringing brand visibility. Think about the campaigns Dove rolled out successfully to talk about the notion of beauty. It has cracked the recipe for success.
2. SEO rankings
Video marketing can be a game-changer in boosting your website's SEO rankings. Search engines like Google love video content. Video engages visitors, increasing the time they stay on the website, and Google sees the content as relevant and valuable. Such contents rank higher on the SERPs.
Also, consider the number of backlinks generated if the content is widely shared. People are 52% more likely to share video content than other forms. Utilizing relevant keywords in video titles, descriptions, and tags, you can help search engines understand the content of your videos and improve their discoverability in search results.
3. Redefining communication
Communication is the key to effective marketing. Viral advertising aims to hit the right chord with consumers. Sales calls have advantages, but how about a video landing page that answers the most common queries and educates prospective customers about your product visually? These bite-sized, snackable, snappy videos pack a punch and are traffic drivers.
4. Sales and conversions
The most common pain point in the marketing strategy is to extract maximum ROI. But have you tried video marketing? It can be an answer to your marketing woes if done right. Most consumers, precisely 73%, have reported being swayed by a brand's social media presence when making purchasing decisions.
Statistically speaking, video content marketing has a higher conversion rate. Your videos will increase conversions and sales if they resonate with the audience.
Video marketing for small businesses
While it’s true that video marketing requires investment in equipment, technical resource, and video skills, which can give an impression that it is the territory of big brands only, small and mid–sized businesses also have an excellent chance to benefit. Small businesses are registering improved success by leveraging videos to effectively convince, convert, and retain new customers.
SMBs are slowly waking up to the fact that they cannot miss out on its benefits, citing not-so-accurate reasons for it being time-consuming and requiring significant investments. And what has brought the change- the belief that even a humorous video from a restaurant chain has the same chance of going viral as an ad from multi-billion dollar Nike.
We list the most obvious benefits that are generally overlooked or not given much thought by small businesses.
- Enhancing Social Media Presence: Small businesses are seizing the opportunity to expand their social media reach through engaging videos. By creating share-worthy content, your videos can go viral, attracting followers, likes, and shares and boosting your brand's influence.
- Maximizing Limited Resources: Video marketing offers cost-effective solutions for small businesses. With accessible video production tools and platforms, you can create professional-quality videos on a budget. Think about AI and how engaging video can be made through free tools. By adopting intelligent choices, it can be ensured that marketing efforts deliver a significant return on investment.
- Gaining a Competitive Edge: Stand out by embracing video marketing for your small business. Videos provide a unique platform to showcase your offerings, demonstrate expertise, and differentiate yourself in the market, giving you a competitive advantage.
The mix of videos you should be using for your marketing campaigns
No one size fits all. No one trusts this more than the people in the marketing industry; with customers’ consumption patterns and tastes taking a tectonic shift, it is essential to experiment with different video types. Below are the video types you should seriously consider while creating video content.
- Product/service demo videos- These give prospective customers the feeling of actually using the product even before they have it. It helps them make conscious decisions while educating them.
- Brand videos- A brand video communicates to the audience about your brand’s philosophy, mission, and how you are different from others in the fray.
- How-to videos- This never goes out of fashion. People now look to youtube and other social channels to learn, understand, and be informed.
- Embed videos in emails- Combining the best of both worlds. It works best in case you have a niche audience not present on the popular sites and when you want to carry the message to your customer’s inboxes. Entice the reader to click and engage.
- User-generated content video- Embrace the happy user to have a role in the act. Reward and appreciate their effort in making the video, which can be used later as a testimonial.
- Case study videos- It can be a video about a solution your business came up with or simply a bunch of customer responses. On camera, validation conveys a sense of trust packaged as an endorsement.
Steps to an effective video marketing
Chalking out a good video marketing model for your business involves understanding current trends and past models' relative success and failure. In this section, we answer a recurring query – "How we can do video marketing?"
- Identify your audience. Know their demography, preferences, buyer's persona
- What are your marketing goals? –Is it brand awareness, traffic, sales, or all of these?
- Plan value-based content around the customer's needs and problems.
- Budgetary considerations
- Optimize it and publish
- Monitor performance through measurable metrics
Best video marketing strategies
A clear-cut strategy can save you hours soliciting customers through repeated sales calls and marketing efforts that cut no ice with the customer base. While pursuing online video advertising, it should be remembered that it requires persistence and quality.
It’s an iterative process; you never know that your viral moment may be just around the corner. We are sharing a few tried and tested hacks to make things easier. Make sure you are following these tips and tricks.
- Keep your videos under 3 minutes. It’s a fast-paced world, and consumers seek sleek videos while on the go.
- It’s crucial to gauge viewer perception if you are starting. Go for short-form videos. Move to a longer form when the time is right.
- Ensure your thumbnails are crisp and inviting but not clickbait.
- Go for collaborations with like-minded brands and influencers.
- Always focus on the message and how you are conveying it. Stay calm about the sales.
- Pay attention to the content quality. Use compelling visuals and storytelling techniques to maintain viewer engagement throughout the video
- Don’t shy away from sending personalized short videos to your list of followers.
- Give space to user-generated videos. They propagate the message of your brand.
- Strategically placed CTAs should enable the viewer to get into the next logical step, such as subscribing to your channel, visiting your website, or making a purchase
- Experiment with various platforms and distribution strategies to know what clicks with your audience.
- Monitor the number of views, watch time, engagement rate, and shares. Pay attention to audience retention and drop-off points within your videos.
- Encourage discussions and interactions around your videos. High engagement levels indicate a positive response and can lead to increased brand awareness.
While strategizing for online video advertising, you should ask three critical questions. The answers will help you devise engaging videos also align yourself to market dynamics. What are the best platforms and channels to distribute and promote my videos? How can I leverage video testimonials and customer reviews to enhance my marketing strategy? What are the current trends and innovations in video marketing that I should be aware of?
Concluding remarks
Videos have cemented their place in consumers’ psyche and heavily influence the buyer’s journey today. Consumer moods swing in favor or away from brands based on how they perceive videos. The metamorphosis of marketing from legacy methods to digital media has been phenomenal. And this evolution will continue. The number of video viewers is set to touch 3.5 billion.
The
competition will get a notch higher as 70% of the marketers on the
fence will now jump into the game with video marketing plans in 2023. If your
business hasn’t started, we can help you chart a path ahead. As a digital marketing agency with its pulse on
technology and trends, we can help your business stand out and ensure better
returns on your ROI
FAQs (Frequently Asked Questions)
Q. How long should my marketing videos be?
It's best to keep marketing videos crisp and short, ideally between one to three minutes. This ensures the viewer's attention. More than 80% of marketers suggest keeping it about 60 seconds long.
Q. Which social media platforms are best for video marketing?
The choice of social media platforms for video marketing depends on your target audience. If you target millennials (ages 23 to 38), you should create Youtube, Instagram, and Snapchat content. YouTube leads the pack as the most preferred platform for video consumption. Facebook still dominates when it comes to live videos.
Q. How can I measure the success of my video marketing campaigns?
Key metrics need to be tracked- views, play rate, watch time, Click-through rate, engagement rate, social shares, conversions, and feedback. By analyzing these metrics, you can assess the effectiveness of your video marketing efforts.
Q. What types of videos are most effective for building brand resonance?
Videos that tell compelling stories, evoke emotions, talk of human endeavor, and retell human values in fresh packaging authentically are highly effective in building brand resonance. Customer testimonials and behind-the-scenes content can also strengthen brand connections.
Q. How can I optimize my videos for search engines?
Optimize your videos by researching and incorporating relevant keywords in titles, descriptions, and tags. Providing accurate transcripts and captions also helps with accessibility and search engine optimization. Also, categorize your video and keep the video code in the footer.
