Why your business NEEDS a video marketing strategy

If you’re just arriving to the video marketing party, welcome. It took you a while, but you’ve finally made it. As the popular Chinese proverb goes: “The best time to plant a tree was 20 years ago. The second-best time is now.”

Over the last couple of years, video marketing has established itself as a sustainable marketing strategy that, if done correctly, can yield significant results for your business. The beauty of video lies in its ability to convey ideas and express emotions, things which cannot be done as successfully through other mediums such as text or imagery. While most businesses know that they should be producing some form of video content, many don’t understand how the strategy will help them directly.

This article will take a look at some key statistics and clearly lay out the benefits to show you exactly why your business should be investing in a video marketing strategy.

Give the people what they want

People just can’t seem to get enough of video, with 43 per cent of respondents of a survey by analytics platform MonsterInsights saying they want to see more.

The demand for video isn’t just limited to entertainment purposes, however, with HubSpot finding that 54 per cent of consumers want to see more regular video content from brands or businesses they support.

So, what is it that makes video content so appealing? Respondents of HubSpot’s survey overwhelmingly agreed that video is in higher demand and more enjoyable to consume simply because they’re more likely to pay attention to it, whereas they might have a greater tendency to skip through a podcast or blog article.

Video has gone global

As you probably suspected, more people are watching more video content today than ever before. In fact, a recent study by German consumer data company Statista found 88 per cent of all internet users in Australia watch online video content on a monthly basis, with that number expected to grow over time.

Interestingly, Saudi Arabia and Turkey are the countries that indulge the most in video with 95 per cent of both populations admitting to watching video content every month, with China coming in a close second with 92 per cent.

people love to see it

Wherever you go and whatever you do, sometimes it feels like there’s no escaping the vast influx of video content that’s entered our society. But there’s a good reason why video seems to be becoming a feature on nearly every mainstream app – even UberEats has announced their app will soon be launching a ‘Stories’ function!

I’m convinced that some wayward stranger in a space-craft, coming from some other part of the heavens, could look at earth and never know that it was inhabited at all. But the same wayward stranger would certainly know instinctively that if the earth were inhabited, then the destinies of all who lived on it must inevitably be interwoven and joined.

A study by American cloud-based video creation platform Animoto found that videos are the No.1 type of content consumers want to see from a brand on social media. An even more telling statistic in the study, however, is that 73 per cent of people say that they have been influenced by a video they’ve seen from a brand when making a purchasing decision.

With that in mind, is it any wonder that Instagram has become the fastest-growing platform that uses video content to drive sales? We have a sneaking suspicion TikTok isn’t too far behind…

here comes the money

Sure, people enjoy watching videos, but will video marketing actually give you a return on your investment (ROI)? The short answer is: probably, but your mileage may vary.

I’m convinced that some wayward stranger in a space-craft, coming from some other part of the heavens, could look at earth and never know that it was inhabited at all. But the same wayward stranger would certainly know instinctively that if the earth were inhabited, then the destinies of all who lived on it must inevitably be interwoven and joined.

Video marketing isn’t a silver bullet strategy that’s going to pay off every single time, however it will give your business every chance of success if you get it right. But don’t just take it from us: further results of the study by Animoto found that 88% of marketers are satisfied with the ROI of their video marketing efforts on social media to date, and that 80 per cent are satisfied with the ROI of their paid video advertisements.

a proven generator of leads

According to a study by lead generation platform OptinMonster, marketers that include video content in their overall strategy get 66 per cent more qualified leads compared to those that don’t. On top of that, 93 per cent of respondents reported landing a new customer because of a video they’ve posted on social media.

Companies use video marketing to increase brand awareness, build trust and keep their customers informed. When a brand does this consistently over an extended period of time, consumers start associating it with quality and trustworthiness which will then lead to a natural increase in leads and sales.

Its popularity is only growing

If the statistics we’ve covered off above have yet to convince you of the benefits of video marketing, this one surely will: the time people spending watching videos online is only increasing.

Limelight’s State of Online Video research report found that the average person spends a weekly average of six hours and 48 minutes watching videos online.

What’s more is that all signs suggest that this figure will continue to increase, with people under the age of 36 now spending more of their time watching online videos than traditional broadcast mediums such as television.

Final thoughts

Whichever way you choose to look at it, there’s no denying the overwhelming potential of video and the results it can achieve for your business. It allows you to explain things in an engaging format that’s a combination of all the other formats in one – visual, audio and text.  

If you haven’t yet taken advantage of the power of video marketing, we hope the statistics we touched on above have flicked some sort of metaphorical switch and you now understand the growth potential your business is missing out on. Lights, camera, action!

let us put you in the spotlight

Eye-catching, professionally-made videos to promote your brand don’t need to be big-budget. If you’re looking for a video production company in Sydney to help give you the edge over your competition, Orion is the perfect solution to your needs.

Orion has all the experience and tools for effective video production that will keep your audience hooked from start to finish and, most importantly, won’t break the bank. Get in touch with us today or call us on (02) 8850 2215 to discover how we can kick-start your video marketing efforts and get your business ahead of the pack.

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