Everyone knows that content is essential to attract, engage and convert customers online. We’ve all heard the expression, “content is king.” While this may be true, it’s important to consider the medium involved. Right now, the king of content is clearly video.
The Reasons Behind The Rise Of Video Marketing
The popularity of video marketing may not come as much of a surprise to you. That said, there are some compelling numbers that explain why marketers will continue to use video in the future.
1. Video increases organic traffic and conversions.
It’s not by a small amount, either. As reported by Adélie Studios, companies that use video marketing see 41% more organic traffic than those that don’t. More than just bringing in traffic, video helps convert those visitors into customers. Home pages with videos see 20% more conversions. Landing pages see 80% more.
“We have seen video content be very powerful for e-commerce clients where products have a high touch and feel value,” said Joe Laratro, a local colleague and founder of Tandem Interactive, a digital marketing agency.” Google AdWords constantly makes conversions from YouTube content more likely with better ad units that can overlay e-commerce content.”
2. Viewers retain information better than readers.
When someone views information via video, they retain 95% of it. That number is all the more incredible when you consider that only 10% is retained through reading.
It’s worth noting that completion rates significantly increase when viewers are rewarded. That can involve anything from providing the wifi password to other digital content.
3. The market wants more videos.
The public loves video just as much as marketers do. In fact, 43% of peoplehope marketers will use video even more in the future. Businesses are focusing on four common video genres: explainers, product demos, how-tos and testimonials.
Facebook’s Foray Into Video Marketing
Another sign that video marketing is on the rise is Facebook’s active interest in the medium. For years, videos have been a fantastic way to increase engagement on Facebook. However, earlier this year, the social media giant doubled down on its investment in video marketing. Its new ad format, Collection, allows videos to play above four recommended products. Companies can either choose the products to be displayed or have Facebook pull popular options from their websites. When someone clicks on one of these promos, they are taken to a landing page that shows them up to 50 more products.
Back in March, Facebook announced that major brands including Adidas, Tommy Hilfiger, Sport Chek, Michael Kors and Lowes had already tested Collection. Sport Chek reported that its conversions doubled and online sales went up 28% simply by utilizing a Collection campaign that involved GIFs. Adidas also had success. Its cost per conversion dropped by 1.8 times when they used Collection to advertise a hoodie and similar items.
A New Analytic
Facebook already offers plenty of analytics to help improve your marketing campaigns. And with Collection it has added a new metric called Outbound Clicks, which will allow advertisers to see how many people click through to their websites and apps. This actionable feedback will allow marketers to create better videos in the future.
Both the introduction of Collection and the fact that Facebook values it enough to create a brand-new metric for advertisers says a lot about how important video is becoming to e-commerce. The company has long sought to improve this profit source and, with video, it may have found the opportunity it has been looking for.
Instagram And Snapchat
Both platforms have realized the opportunities videos can provide companies, too. Snapchat and Instagram Stories now allow businesses the option to have viewers click through on their videos to add products to shopping carts.
Three Examples Of Companies Leveraging Video Marketing
Here are three other companies that we’ve worked with that are doing a fantastic job of using video to engage their markets.
1. Billabong connects viewers with surfing icons.
Billabong has been a part of the surfing world since the early 70s. Nowadays, it helps bring other people into that world through its YouTube channel. For example, one of its recurring shows features legendary surfer Mark Occhilupo interviewing other top names in the sport.
2. Char-Broil shows grillers how to make the most of their meat.
Grilling is a national pastime with a passionate following, and Char-Broil has been successful at engaging with many grillers through its YouTube channel. Some of its videos introduce viewers to different types of grills or how to make apple butter BBQ ribs.
3. Bass Pro Shops brings the great outdoors to viewers.
If you’re an outdoorsman, you probably already know all about Bass Pro Shops. Its YouTube channel features classic episodes of its popular Outdoor World Television program, but viewers can also tune in to learn aboutupcoming sales and much more.
Are you leveraging video marketing?
The companies we just covered have enjoyed hundreds of thousands of views because of their YouTube channels. Countless other businesses have done the same all over the world, too.
Are you investing in this powerful form of marketing?
As you just saw, there’s no shortage of potential. It’s no longer a question of whether video is a worthwhile investment — it’s now a matter of how you can leverage this medium strategically. The sooner you begin using video to market your company, the sooner you can expect a bigger market.
Written By: Lin Grosman
For More: www.forbes.com