The Importance of Implementing Videos in Your Marketing Campaign
For several decades now – more than even many of us can remember, advertising has been a way to communicate with the customers. It has been known to be the most successful way to inform customers about brands and products. Advertisements have been used to engage and to attract consumers to buy products they need – and even those they never thought they needed. For organisations, advertising has helped increase sales, been used as a platform to launch products and gain customer loyalty.
Today, advertising has reached new heights. Marketing campaigns have taken on a completely new meaning in this age of digital technology, and video is a big part of every digital marketing campaign. Before we get into the importance of videos in a campaign, it’s necessary to understand what a digital marketing campaign is and why it is important to every organisation that wishes to grow and succeed. With that understanding, it will be easier to understand the importance of video in the overall scheme of things.
What is digital marketing?
Digital marketing is the marketing of products and/or services with the help of digital technologies, mainly via the internet. It also includes display advertising, and also through other digital avenues like mobile apps. Digital marketing helps businesses to reach out to a specific audience. In a more direct sense, and at a very high level, digital marketing is advertising through digital channels, including websites, search engines, social media, email, mobile applications and any other newer digital channel.
FAQ: Great! Now I know what digital marketing is; but, where does video fit in?
Video marketing is making use of videos to promote and market a product and/or service to increase engagement on digital and social media channels. It is used to educate consumers and potential customers and reach a targeted audience with a new medium. Today, any business – big or small – can immensely benefit from the production of a short video to introduce their products and/or services.
The importance of digital marketing
The global digital advertising revenue is set to grow from $168.42 billion in 2015 to $332.20 billion by 2021. This worldwide statistic proves one thing – digital marketing is on a high. Any business that wants to succeed must make use of digital marketing.
Now, consider these video marketing statistics:
Over 72% of Australian businesses say that video marketing has increased their conversion rates.
Mentioned below are ten reasons for the popularity of digital marketing:
1. The most powerful form of marketing.
Digital marketing changes the way you reach your audience and engage with them in a meaningful way. It has the power to help organisations reach the target market and influence conversions.
Video is an important and powerful form of digital marketing. Here are some statistics to prove it:
- 97% of markets insist that videos help consumers to understand their products.
- By 2021, over 80% of all traffic will consist of video.
- 81% of businesses (global statistics) use video for digital marketing.
Video is a very versatile format that can be used to deliver engaging content. It is easy to share across multiple platforms. Consumers find it easier to consume engaging and entertaining video as compared to text-heavy content.
FAQ: Are there real-life examples of companies across the globe that have seen a marked increase in conversion rates through digital transformation?
1. Nidhi, an e-commerce candle company, saw a 714% increase in sales over three months after using social media.
2. Forever Diamonds was able to engage customers and increase foot traffic and real conversions.
3. Closer to home, Heartland (Heartland Seniors Finance or HSF) saw 873% increase in organic website visits, 13% of organic visibility, 20% increase in unique visitors and a 27% increase in users after just three months of starting their digital marketing campaign.
All of the above examples are true testaments to the benefits of digital marketing.
2. One of the most cost-effective way for a business to market its brand, services, or products.
This is especially true for small businesses with a limited budget that finds it difficult to compete with large businesses. Traditional marketing is expensive, but digital marketing is not only affordable but also much more effective in terms of getting more value for their marketing spend.
While traditional marketing tactics have different types of hidden costs, there are no hidden costs with digital marketing. In fact, the only cost for digital marketing is ‘time.’ It takes time for SEO, social media and content marketing to bring in results.
If you want to see faster results, you could use pay-per-click, social media advertising and display that all give faster results but would cost extra. This, however, is entirely optional, and is not a ‘hidden cost.’ It is a cost that a company is willing to make openly to hasten results.
FAQ: How long does it take to see an increase in conversions through digital marketing?
With the right strategies and with proper implementation, businesses can increase their overall reach and conversion rates in a few months.
According to Social Media Today, 90% of consumers claim that a video will help them make a purchasing decision.
3. Digital marketing is measurable
There’s no guesswork involved with measuring the success of a digital marketing campaign. It is difficult, if not impossible, to measure the success of traditional marketing campaigns like mailers or radio advertisements. By knowing exactly how successful your digital marketing campaign is, you can either leave it as is or make improvements to increase its success rate. Measurable results are also great to ensure future campaigns make use of the insights gained from the present and past digital campaigns.
You can make better use of your resources, and you can allocate your marketing budget wisely when you have access to data that tells you what is working and what is not working in your digital marketing campaigns. With accurate measurements, you can allocate expenses wisely, reduce the expense from areas that are not working and focus on strategies that have proved (beyond doubt) to improve your ROI.
FAQ: What are some of the ways the success of a video marketing campaign can be measured?
Marketers are constantly under pressure to prove ROI on their marketing efforts. The advantage of videos is that they are measurable.
The number of views that a video gets is measurable. So, marketers can know how successful the video is.
You can measure the ROI of a video that has been created with the purpose of converting a prospect. ROI can be known by calculating the number of prospects that became customers directly because of the video.
Adding promotional codes at the end of brand-centric and product-heavy videos will let you know if a sale was the direct result of the video.
The number of shares a video gets is another indication of the success of a marketing video. A heat map tool would be able to uncover more detailed metrics.
4. Target ideal buyers
With traditional marketing campaigns that make use of magazine space or billboard space, a company is doing nothing but taking a shot in the dark. A digital marketing campaign, on the other hand, can ensure you target the right customers with your content. SEO ensures you reach consumers who are looking for content relevant to your business. Sophisticated targeting abilities ensure all your marketing efforts are aligned with strategies that truly work.
The lamb ad of Meat and Livestock Australia (MLA) is a great example of targeting a particular market with video. The video does not talk about how great MLA’s meat is. Instead, it focuses on capturing the essence of Australia and it being the best place in the world for a lamb BBQ.
An entertaining video can increase your target audience’s engagement with it. You don’t have to worry about conversion because conversions will follow.
5. Today, most people are starting their buyer’s journey online
Over 90% of online experiences start with a search engine. This is even before consumers know what product or service will solve their problem. They look for answers to their most pressing problems to learn more about the challenge they face. They don’t check just one channel – studies have shown that more than half of consumers prefer to look for solutions across several channels, like social media profiles, emails, online advertisements – all these are digital.
Businesses have great potential here to connect with consumers and show them how their products/services can solve their problems. Relevant and engaging content can draw the attention of potential consumers, and help businesses to connect with them and educate them during the early stages of the buyer’s journey.
Commercial advertisements that share the brand’s spirit with leads during the initial stages of their journey is a great way to use ads. When you use a superb storytelling technique through video, you can meet your goal of engaging your prospects.
Educational videos are another type of video that is great to help solve a consumer’s problem and let them know how your product or service will help them solve that problem. Educational videos are interesting and can be shared easily. They help prospects find answers during the awareness stage of their buyer’s journey. Videos are easily shareable as well.
Explainer videos are a great way to introduce your brand, product and/or services and let the prospective buyers know why they need you – in a matter of a few seconds. Product videos are a great way to show how useful your product or service is because videos show action.
How-to videos anticipate a prospective buyer’s needs and questions and solve them by educating prospective buyers.
FAQ: How does relevant and engaging video content help?
When your business creates relevant and engaging video content that is optimised for search engines, your online visibility improves, and your content reaches customers when it matters the most to them.
6. Customers are on social media, and digital marketing can reach out to them.
According to the latest global statistics, 2.34 billion people are on social media platforms. That is 1/3rd of the earth’s population. When you publish and promote unique content on social media sites, you reach consumers through advertising. Some social media platforms (like Facebook) even allow you to target who sees your unique content. So, you can reach the most likely-to-be-interested consumers with information regarding your products and services.
FAQ: How to proceed with consumers once I gain their attention on social media?
Once you have gained the attention of your target audience with engaging video content on social media, you can continue building a relationship with them on these sites by communicating with them and further engaging with them. You can have conversations with them in real-time, on a one-to-one basis and give them valuable information about your brand that will convince them to buy your product/services. All this can be done via video.
7. You can connect with mobile users with digital marketing.
Yet another benefit of digital marketing that traditional marketing does not offer is the ability to connect with mobile customers. More than 50% of online users access the web from their mobile devices – tablets, smartphones and laptops. Digital marketing helps you connect with consumers who browse and consume data on their mobile devices.
Smartphones and other mobile devices are everywhere. Video is easily accessible on mobile devices. Video can be used to effectively reach out to people. Video can cure boredom, is more appealing to the eyes, and is easy to share. If mobile consumers find a marketing video engaging and useful, they won’t hesitate to share it.
Businesses are always looking for ways to improve their customer’s experience. Live chat personal representatives are available to chat or talk with consumers and answer all their questions. Video chat works on several mobile devices – both Android and Apple. When consumers get on a website and have a query, they can just get on a video chat with the company’s representatives to get their questions answered immediately. The ability to see real representatives in real-time via video has a psychological benefit to consumers and show them that the business really cares about their requirements.
There is no doubt that video marketing is flooding both social media and websites. But like the old adage – seeing is believing, to really prove how important video is to a digital marketing campaign, it’s important to start using it, and see what it does to your business.