One of the goals common to all businesses is the need for continuous growth in order to become and remain profitable in a competitive market. Statistics are important because they tell a very clear, succinct story- especially when it comes to the value of video marketing and business growth.
Research has found that 84% of consumers have been convinced to buy a product after watching a video, and they’re twice as likely to share videos than other types of online content. This makes video marketing very appealing as a marketing channel. Not only do videos engage your audience better than other forms of marketing, they are easily shared. Sharing allows your products and services to expand your audience and market penetration.
More and more people are spending more time at home working remotely, which has increased the demand and consumption of video and video marketing. Surveys report that almost nine out of ten people want to see more videos from brands in 2022. This makes video an excellent tool for lead generation and brand awareness. The numbers say it all. Cisco reports that during 2022 video will account for 82% of all online traffic. That is a huge number. There is no mystery and no suspense when it comes to the importance of video marketing to drive traffic and generate leads, so how can you get started and grow your business with video marketing?
One of the best ways to grow your business with video is to create an explainer video that highlights a problem and explains how your product or service solves the problem. For instance, if you are planning to launch a new product or service which may be difficult to understand, creating an explainer video can help your audience understand complex concepts quickly while also being entertaining.
Explainer videos and short-form videos, and animated videos are probably the very best way to explain a considerable amount of information quickly without losing the attention of your audience. 98% of people prefer watching videos to understand new concepts, products, or services. According to marketing surveys, 84% of people report being convinced to buy a product or service by watching a brand’s video. Using high-quality, short-duration videos brings concepts to life in an engaging way. Videos are also proven to drive high traffic to your website and increase conversion rates. Simple, compelling, informative, and entertaining videos will help make your brand stand out and make it memorable.
Testimonial videos are another great way to utilize video to grow your business. You increase your customer base by building relationships and trust. Authentic testimonial videos build trust and tend to be shared. Testimonial videos and videos about your company culture and products also help attract and retain customers. Your business stability and growth are built upon repeat business, and the ability to retain existing customers is crucial to your business’s success and growth.
Google and YouTube love videos and they are a very important part of the Google algorithm. Video marketing helps you increase your Google search ranking and reduce bounce rates. Today most people don’t have the time to scroll through pages of search results, so they usually open the links at the top of the page. If the visitor doesn’t find the content useful in your link, they quickly redirect to another, which increases the website bounce rate, something to be avoided. Video helps visitors stay on your website, lowering your bounce rate and increasing your chance for conversions. If you want your products to be searched and purchased, you will want to create meaningful, creative, professional videos of different types to keep your visitors engaged. Remember, the longer your visitors stay on your site, the better your rankings will be.
Finally, everything is going mobile. Videos are very mobile-friendly. 90% of people interviewed report they prefer watching videos on their mobile devices. Most people find videos entertaining and educational. Luckily for marketers, people also love to share videos with their friends, and that equates to increased social shares.
When you consider all of the benefits of video marketing and the fact that video marketing appears set to continue its success story in the years ahead, it is an important form of marketing to include in your portfolio if your goal is to grow your business and remain competitive in today’s market.