In today’s media rich world, integrating video into your business or marketing strategy is not optional. It’s a requirement. Video has rapidly become the go-to medium for many companies’ marketing strategy, and it continues to explode in popularity. Even if you’re not a running a business or organization, you can still take advantage of video’s incredible potential.
According to Google, users upload over 500 hours of video content to YouTube alone every minute. And that was in May, 2019. That number has only increased since the COVID-19 pandemic locked the world down last year. The potential return on investment for videos has near limitless potential. Amazingly, video marketing statistics in 2021 fully back that statement up, too.
Unfortunately, far too many businesses and organizations are missing out on the incredible potential of videos. It usually boils down to a small handful of reasons.
- They don’t have the time to produce videos
- It’s too expensive
- They don’t know where to start
Yes, videos can take a significant investment of both time and money. I’ll be the first to admit that I have used all of those excuses in the past. However, those costs have come way down from what they were just five or ten years ago. Barriers to entry are lower than they’ve ever been. As a result, it’s easier than ever to get started with video and reap its incredible rewards.
So what exactly are you missing out on? Let’s dive right in.
Elevate Your Brand Awareness
Video is by far the most effective medium through which to tell your story. The strategy is simple. Promotional and marketing videos should tell a story because nobody wants to hear a sales pitch. Sharing a story with your audience engages them at a much deeper level and results in a much more authentic connection with you.
Take it a step further. Introduce yourself in a video that explains your organization’s mission or values. Give your audience a window into your operations with a behind-the-scenes video. Show them why you do things they way you do. Finally, create a hands-on tutorial video that shows your audience both how to use your product and get the most value from it.
Even better, raise awareness for a cause you’re passionate about. Find a charity that supports that cause and team up to make a video about it. Your organization will gain the positive publicity for supporting the charity, and the charity will get a boost in donations. It’s a win-win for everyone.
- 96% of marketers claim that video has helped increase customers’ understanding of their product or service.
- 92% of mobile users shared videos with others.
- 78% of all internet users watch videos online every week. Of those people, 55% watch videos every day.
- By 2022, 82% of all consumer traffic will be from videos.
- In 2020, 69% of all non-video marketers expect to start using video as a tool for marketing in 2021.
Boost Your Sales with a Solid Video Strategy
If your sales strategy does not involve video, you could be missing out on significant amounts of possible revenue. Like we discussed in the previous section, you want to tell a story again here. Be honest and authentic. If you overhype your product or come across like a used car salesman, people will see right through it.
Instead of just listing off the benefits of your product, show your audience how your products have brought real-world results to your clients. For an even more credible connection with your audience, have your client appear in the video and offer a short testimonial. Without proof to back up your claims, nobody will believe you.
- 72% of customers prefer learning about a product or service they’re interested in buying through a video. That same group also prefers watching a how-to video over reading a user manual.
- 84% of marketers say that videos have helped them generate leads.
- 78% of marketers claim video has directly helped increase sales.
- 43% of marketers state that video has reduced the number of support calls they have received.
- 84% of consumers state that a brand’s videos have convinced them to make a purchase.
Consumers Retain Information in Videos Better Than Any Other Medium
Let’s do a little social experiment here. Put down this article for a second and go open the news feed on your favorite social media platform. Scroll through the top 20 or 30 posts in your news feed. How many of those posts are videos? I’d bet the majority of them are. On some platforms, they all are.
Now scroll through that same news feed again, but look at the sponsored posts or advertisements. You’ll likely find that an even higher percentage use videos. It turns out there’s some rather fascinating psychology behind how we absorb content to learn and make decisions. The 20/40/80 Rule lies at the heart of that psychology.
According to the 20/40/80 Rule, we retain:
- 20% of what we hear
- 40% of what we hear and see
- 80% of what we hear, see, and do
If you’ve ever used any of my tutorials, you’ll notice that they always have a hands-on part. The 20/40/80 Rule is the reason why. You retain so much more information when you can work firsthand with the material.
- According to a recent survey, media consumers claim that they can retain 95% of a message that is delivered via video.
- 85% of marketers say that video is an effective way to raise awareness online.
Consumers Prefer Video Over Any Other Medium
I remember when Facebook first allowed users to post photos. That update laid the foundation for what social media is today. While photos and infographics were the dominant medium for much of its first decade on social media, the landscape has undergone a rapid shift over the past 5-plus years. During that time, video has become the most popular, and most powerful medium. And it reaches far beyond social media platforms.
- 85% of consumers would like to see more video from their favorite brands in 2021.
- More than 99% of marketers surveyed say they’ll continue using video in 2021. And 96% of that group will either increase (67%) or maintain (29%) their 2020 spending levels.
- In 2020, video overtook blogs and infographics to become the #1 form of media used in content strategy.
- 88% of executives and managers claim that video improves efficiency in the workplace.
- 54% of consumers want to see more video content from brands they support.
Video Platforms
When you think of video platforms, YouTube is probably the first one that comes to mind. After Google acquired YouTube in 2006, it has been the go-to video sharing platform for so many people. YouTubers consume over 1 billion hours of content every day.
YouTube is far from the only video sharing platform. You can choose from plenty of both free and paid video sharing platforms, such as Vimeo, DailyMotion, or Twitch. Additionally, you can host videos on your own website, but you can run into bandwidth issues if you have any significant traffic.
As powerful as YouTube is, if you want to maximize the potential return on your videos, social media is the place to be. While I am not one to hold back explaining how much social media repulses me, it’s a necessary evil when it comes to running your business.
- 87% of video marketers report having used YouTube in the past year.
- The most effective video marketing channel is the webinar. In 2020, 91% of webinar hosts say they’ve been a success.
- 58% of consumers visit a company’s social media pages before visiting their website.
- Social media as drove a 24% increase in consumers making purchases in 2020 compared to 2019.
Conclusion
Video is one of the most powerful tools available to grow your business or organization. With fewer and fewer barriers to entry, there is no excuse not to be using videos as part of your business or marketing strategy. In today’s media-rich world, your clients and customers don’t just want to see videos, they expect to.
One of my primary goals for the second half of 2021 and into 2022 is to create much more video content. I’ll be launching tutorials and online courses, and am hoping to create a travel series once COVID-19 restrictions are fully lifted and we’re free to go explore the world.
If you want to get started taking advantage of the incredible potential of video media, our professional video packages start at just $199. Or, if you just want some more information, please drop us an email or book a free info session. We look forward to hearing from you.
Sources
The statistics given in this report are from 2019 and 2020 and were sourced from Wyzowl, Animoto, and Social Media Week.
Top Photo: Pacific Ocean Waves Crash Along Rugged Coastal Cliffs
Newport, Oregon – August, 2017