In today’s ever-evolving marketplace, video marketing has proven itself as one of the most powerful and effective ways to connect with consumers. In fact, 72% of consumers prefer videos to text marketing. Adapting to this shift can be daunting, but to stay relevant, competitive, and successful, it’s a must.
1. Return on Investment (ROI)
One of the main concerns for any marketing campaign is the return on investment (ROI). With what’s involved, video marketing can be seen as a huge commitment, but the benefits are tenfold. A staggering 84% of buyers reported that they had been convinced to buy after watching a brand’s video. That’s HUGE! When done correctly, the right type of video should compel a consumer to buy.
Businesses and marketers who used video ended up growing revenue 49% faster than non-video users in 2017. Furthermore, according to Animoto, 88% of marketers are satisfied with the return on investment of their video marketing efforts with 93% of marketers saying they’ve landed a new customer thanks to video.
2. Video Marketing Does All the Work For You
One of the most challenging aspects of any business is to get across how you can make someone’s life better. Whatever service or product you offer, its goal is to add value or substance to somebody’s life. Through video, a consumer is able to engage and understand what you’re selling and why you’re selling it. An explainer video is the most straightforward approach. Approximately 98% of users say they’ve watched an explainer video to learn about a product or service. Not only does it answer any and all questions one would have, but it brings a comfort to the consumer and it allows them to feel like they fully understand what they’re investing in which is far more challenging in text or images.
3. Higher Engagement
When it comes to marketing, engagement is king; and when it comes to video marketing, its strongest factor is without a doubt engagement. Audiences are about 10x more likely to engage, embed, share, and comment on video content than blogs or related social posts. Additionally, 53% of consumers and 66% of millennials “report engaging with a brand after viewing a video on social media.” Think about that!
Something unique about videos is their ability to hold a user’s engagement. It keeps users on your website longer. How much longer? Forbes reports an impressive 88% longer. Not only do you hold their gaze, but they retain your messaging better. Viewers generally retain approximately 95% of your messaging in a video versus 10% when reading it in text.
4. Stronger Emotional Connection to Your Brand
A big trigger word these days when it comes to video marketing is storytelling. As a business, you’re not only selling a product, but you’re selling your brand. Medium notes that “64% of consumers cite shared values as the primary reason they have a relationship with a brand.” Furthermore, “94% of respondents said they would be highly likely to recommend a brand they were emotionally engaged with.”
Most people remember that Super Bowl commercial that made them laugh or that Facebook video that made them cry. This level of engagement with your audience is key. Considering video is the most memorable form of content, if you can reach your base on that emotional level, you’re far more likely to convert that lead into a customer. Here at Lightbox Filmworks, storytelling is key.
5. Staying Competitive and Relevant
We should note that internet users are watching more video content than ever before, and the demand for that content is increasing. Studies show that 54% of consumers want to see more video content from a brand or business they support. According to a HubSpot Content Trends Survey, millennials have a strong preference for video and social content while Gen X and Boomers prefer more news articles, research reports, and email content. As the demographic shifts, the need for video is becoming necessary to remain competitive and relevant in your industry.
Lightbox Filmworks is a full service video production company based in Portland, Oregon. We specialize in producing results for our clients through our commercials, corporate videos, short films, and business brand videos. Our cinematic and photojournalistic style along with our emotive storytelling will provide growth and brand awareness to your business.
Contact us for a free consultation!
