In this blog entry, we’re going to tackle the question that’s been puzzling mankind since the dawn of…well….2018:
“Is video becoming the leading marketing tool for businesses?”
Now when it comes to questions on video marketing and its impact on businesses we’re biased, but after careful consideration of a fair and balanced nature we’ve come to the following conclusion:
“We think so, yes.”
Thanks for reading and we’ll see you next time!
Don’t worry, we’re only joking, so let’s try and justify our opinion. Buckle up because here come some stats, courtesy of video marketing research boffins, that will blow your mind:
- 52% of marketing professionals worldwide name video as the content with the best ROI
- 75% of business executives watch work-related videos at least once a week
- 80% of “millennials” consider video content when making a purchase
- 4 out of 5 shoppers say a video showing how a product or service works is important
- Marketers using video receive 41% more web traffic from search than non-users
- 48% of shoppers will leave a site and seek information elsewhere when visual content is not available
Mind = blown, right?!
We could throw more stats like those at you, but we think you get the picture.
Why is video becoming such a big thing though? Well, we believe that the answer to this question is formed of two parts – access and data.
Not everybody has access to the internet, but the number who do continues to grow. As of the most recent reported period, the number of internet users worldwide was 3.58 billion – up from 3.39 billion in the previous year (2016).
Those 3.58 billion people aren’t just accessing the internet on a PC, either. The current digital revolution we’re living through means that you can now get the web on phones, tablets, TVs, game consoles, voice-activated devices, watches…you get the idea.
None of this would be possible without advances in connectivity. Remember back around the turn of the century when playing Yahoo Pool whilst chatting to your mates on MSN Messenger required a dial-up tone, page loading times of 10 minutes and the need to wait for your mum to come off the phone?
Needless to say it’s a bit different now, thanks to fibre broadband and 4G.
We need to talk about data, too. The rise of video as a powerful marketing tool has coincided with data allowances becoming more and more generous.
Maybe you’re currently on an “all-you-can-eat” data plan with the mobile phone provider of your choice, or maybe you have a couple of GB to play with (our Patrick only gets 1 GB a month, meaning he has to read a book on the train instead of browsing on his phone, the weirdo).
The freeing up of data allowance has had a big impact. Whereas before online video (and particularly live video streaming) was frowned upon, now it’s being encouraged.
As video combines visual and audio, and taps into more communication senses than anything else, it’s no real surprise it’s becoming more prevalent thanks to the freeing up of data allowances.
After all, why go for a still image when you can have a video?!
Back to the question in hand, however.
It’s a game of opinions, and there’s no definitive answer as to whether video is the leading marketing tool for businesses.
We think it is, however. As the statistics show, video marketing is the tool that you really need to consider if you’re not already doing so to avoid falling behind on your competitors.
Away from the statistics, consider how social media platforms are beginning to develop around video.
Facebook timelines are packed with videos now (make sure you’ve got Autoplay turned off in your settings!), Instagram and Snapchat have video “story” options, video adverts are becoming more prevalent on both Twitter and YouTube and so on and so forth.
So, there’s the power of video marketing for you. Put bluntly, whether you’re promoting a product or service, showcasing your company’s team or highlighting its ethos, there’s a video for your business at every stage of its journey.
Now that’s music to our ears!