Video is an extremely effective communication tool on social media for engaging and educating customers. It plays a big role on brand awareness.
However, only 24% of brands are using online video to market to consumers.
The top three obstacles that these companies face are:
- They lack an effective video marketing strategy
- They don’t have compelling content.
- They have inadequate video budget and production resources.
While most companies are not taking advantage of video marketing or are struggling with video marketing, more and more consumers have preferred videos to find the information that they want.
Brad Jefferson, CEO of Animoto, said that the growth of online video marketing in the recent years has been tremendous. There are more than 7 billion videos watched every day on Facebook and YouTube.
Because consumers have shorter attention span than goldfish, four times as many of these consumers would rather watch a video about a product or service than read about it.
Online video would continue to be popular for the coming years as Internet video traffic will go from 64% in 2014 to at least 80% by 2019.
Why are we expecting a big growth of video consumption among consumers? Why is it that more and more consumers prefer videos when they are looking for information?
Why should you consider having videos in your marketing strategy?
Video is Important in Consumer Purchasing Process
The consumers watch videos when they want to know more about the company and the products or services that they are offering.
At least 80% of the consumers find the importance of video that shows how a product or services when finding out about the company and 56% of them find videos of customer testimonials very helpful.
Three in four of consumers think that a video that is showing a describing a product or service is important.
The majority of consumers find videos very helpful and they watch it at least once before making a purchase.
Video Resonates Well with Consumers
Video is one of the most preferred ways for content consumption in social media.
As a matter of fact, video marketing strategies can elevate brand perception among businesses.
This is according to the 63 percent of the consumers who said that companies that use video know how to reach their customers.
Video is critical to a business because one in four consumers would lose interest in a company if it doesn’t use one.
Video Boosts Engagement in Social Media
Nearly half of the consumers have shared a company video on their own social media profile and 84% of them said that they have liked a video posted by a company that has appeared in their newsfeed.
But you can’t post any video on your social media. You have to be strategic and you need to identify the types of videos that you should be posting.
These videos should reflect your brand and your business as they would serve as your voice on social media.
To make a video marketing strategy become effective, you need to vary your video content.
The most effective types of video content that your business can produce and share are:
- Customer testimonials
- Explainer/tutorial videos
- Demonstration videos
- Thought leader interviews
- Project reviews/case studies
- Webinar videos
- Vlogs/video blogs
- Event videos
Video converts really well as 70% of marketing professionals reported that it is better than any other medium. And by 2017, video is going to account for 69% of all internet traffic.
For you to stay ahead of the game, seriously consider a system that can help you create an effective video marketing strategy in social media and produce compelling content without spending a huge amount of money.