video marketing for business
Today's consumer watches an average of 2 hours of video content every day. How crazy is that? And it's not just on TV anymore. It's everywhere. All. The. Time. In fact, there are more than 1 billion smartphones and tablets in use today worldwide. That means almost everyone has access to content all day long.
source: giphy.com
This trend has not gone unnoticed by content marketers. Over 90% of marketers believe video plays an important role in their marketing strategy -- and there's a good reason for that. Last year, businesses that used video content in their marketing toolkit grew 49% faster in revenue than those that did not.
So what does this mean?
It's simple, if you want to grow your business then video marketing should be one of your top priorities. The benefits are too great to ignore.
Read on for some tips and tricks to get you started on your video marketing journey.
What is Video Marketing, anyway?
Video marketing isn't a new concept. TV commercial spots have been around since the 1950s, and we're all familiar with those.
What has changed is channel and platform. In the old days, the only place we were watching anything was at home, on the couch, and in front of a TV screen. The rise of online videos via social platforms, smartphones, a gaggle of video streaming services, and apps have made traditional tv viewing a thing of the past.
Today, videos are shared on all digital platforms as a way to promote, engage, and communicate with customers. This has shifted video from a passive medium to a more active medium via social video experiences. Videos can be linked from blogs or websites, embedded onto landing pages, shared across social media channels, and more – making video ads one of the most versatile forms of online advertising.
Why is Video Marketing Important?
In 2020, nearly 85% of people consumed video content online. This trend has continued to grow steadily in the last decades. With so many eyes on screens, the opportunities to reach potential customers and have a high return on investment are significant with video.
Here are 3 reasons video marketing is so powerful.
source: wyzowl.com
Video Keeps Attention
The average attention span has decreased from 12 seconds in 2000 to 8 seconds today, according to eye-tracking studies. That's a pretty daunting statistic for small businesses. How can they be noticed in a sea of start-ups and big budgets? The answer is a video marketing strategy.
The human brain processes and interprets visuals at insanely high speeds. Research shows that images are processed 60,000 times faster than text! In other words, video kicks our low attention spans in the butt. We can't help it. We are wired to react to visual content. Nonetheless, keep it short. The ideal video length is somewhere between 15-30 seconds as of 2022. So don't worry about making a feature film. Our attention spans aren't quite there yet.
Video Is Shareable
People like watching things, especially if they find those things entertaining. They also like sharing those things with their friends -- a lot. On average, video is shared 1,200% more than images and text combined. What does that mean for you? Free exposure and more people aware of your brand.
Video is Cost-Effective:
Budgetary constraints are not an issue with video marketing anymore. In fact, some of the most effective examples of story-telling through video had no budget at all. A common phrase in the land of video production is, "story is king." Not cameras, not lighting, not microphones, but story. The beauty of video is that anyone can make something awesome and disruptive with the right strategy and creative brainpower.
Where Do I start?
There's no one right answer here, but we'll cover some things to consider when planning your video marketing strategy.
Set Aside Time to Break Down Your Budget and Goals
This step is probably the most important part of any digital marketing strategy, and is especially true for your video content journey. Before creating anything, you should know how much you're willing to spend and what you hope to gain from your efforts.
Is your goal to raise awareness around your brand? How will you measure your video's success? Can you shoot this video in your living room? Do you need voice actors to execute your vision? Do you want a series of animated videos or do you imagine your content will be live action? What video platform are you planning to share it on? These are some of the questions you should ask yourself before jumping into the fun stuff. Planning effectively will save you time and money. The more information you have to start, the quicker you'll be able to bring your video together.
Choose The Right Audience For Your Brand
Would you promote dog toys to cat owners? No, that's silly and a waste of time. An extreme example, I know, but not knowing your audience can seriously wreck your video marketing efforts and cost you money. Tailoring content to your ideal customer's needs is crucial to your success.
So, how do you get to know your customers? Well, an easy place to start is by talking to them. Ask them what challenges they face, what they currently think of your product and/or service, and what can be improved. If that's not feasible, try staying up to date on your reviews. Reviews give you the inside scoop on what your customers think about your brand. Whatever your approach, make sure you take the time to really understand how your current customers feel.
Take a look at the Type of Video Your Industry Is Making
Last but not least, a great way to come up with video ideas is to check out what your competitors are making. Industry trends can give a ton of insight into what content resonates with your target market. It can help fill in the gaps in your content strategy without extensive market research.
If your competitors are primarily sharing educational content, like how-to/explainer videos, on their social channels, and garner a significant amount of engagement, you may want to look into it for your own content strategy.
Video Marketing vs Video Content Marketing
Let's take a second to make a slight distinction between video marketing and video content marketing. Video marketing is the more traditional category that includes any visual type of content where moving pictures are involved. This includes anything from product placement in movies, to video billboards, to GIFs, skippable and in-stream video ads, and more. Video content marketing goes a little deeper by building a relationship with your target market. You can find types of video content marketing on YouTube, TikTok, and Instagram. However, unlike traditional video marketing, video content marketing allows customers to develop relationships with you and build trust in your brand. Content marketing isn't concerned with click-through rates as much as it is concerned about building relationships with potential customers. You can run paid ads to increase sales, but if you've built a relationship with an audience through creating content that they love, you will be able to make sales faster and cheaper by simply letting your audience know you're running a sale. Ok, moving on.
Types of Video Marketing
There are hundreds of ways to communicate a message through video and this is by no means an exhaustive list. If you're feeling creative, you can even come up with more video ideas your business can explore.
The type of video your brand pursues will depend on budget, time, and resources available. However, many of these can be done in the comfort of your own home and at little or no cost to you. Red 11 Media can help meet your video needs affordably.
Below are some of the most common types of marketing videos:
Product Videos
Product videos are short, informative video clips that showcase product features and benefits. The goal of this type of video content is to inform potential customers about your company's goods and services in order to increase awareness. Product videos are popular in eCommerce, retail stores and finance & banking sectors.
A good product video will showcase your product, address its benefits, and include a call to action. A GREAT product video will tell a story.
The most successful product videos keep their customers in the spotlight. They address their target audience's unique problems, identify their product as the solution, and visually communicate an experience. Sure, a call to action and cool product visuals are still great to use. The difference is that placement and timing are intentional. The visual elements, text, narration, and even music are supporting the story and guiding it towards its conclusion. There's nothing random about a stand-out product video.
Take this product video by the DollarShaveClub. It cost less than $5,000 dollars to make but generated over 11 million views because of great story-telling.
Brand Videos
Similar to product videos, brand videos tell a story but not about your products. The purpose of a brand video is to communicate your company's core values, services, and culture in a way that resonates with your customer base. Your target audience should be able to identify with your brand immediately after watching your brand video.
Pulling at the heartstrings is a common strategy used in brand videos - and for good reason. Research shows that videos that elicit emotion are more likely to be engaged with. Generally, the more relatable and memorable a brand video is, the better it performs.
How-To Videos
Search engines are question solvers, and YouTube is the second largest search engine online. Search engines process millions of queries to find the perfect answer for every single question. This might explain why "How To" related searches are some of the most popular search queries on the internet. Consumers are constantly looking for solutions to their problems!
Video Content Marketers have taken notice of this growing trend and leveraged it through DIY or How-To Videos. The How-To video category is a great way to take customers on a tour of your products.
You can use How-To videos to walk viewers through product assembly, explain what value your product adds to their life, and educate them on how to make the most out of your product. The goal of these marketing videos should be to communicate the problem you solve for your customers quickly and in terms they understand.
This example from Small World FS takes less than 1 minute to explain the complexities of their software in just a few simple steps.
Testimonial Videos
Testimonial videos stand the test of time because of their authenticity. There are no actors or pushy sales tactics. The customer story is the star.
Video testimonials allow potential buyers to get an inside look into what other users have said about your products, services, etc. Your existing customers can advocate for you and help build trust around your brand. It's a simple and effective way to promote your products.
Launch Videos
Has this ever happened to you? "Apple just dropped the new iPhone 14 Pro. The camera is better, the screen is bigger, and Dynamic Island is fascinating. Should I trade in my old phone for the new iPhone 14 Pro?"
These are the results of a successful launch video.
The purpose of a launch video is to introduce a new product, service, or offer in a BIG way. Whether you're showcasing a new product or making a significant change to your business, launch videos can be a great way to build anticipation around special announcements.
User-Generated Videos
User-Generated video is video content that was not originally produced by someone affiliated with your company. In other words, these videos are created and uploaded on social media by consumers, rather than businesses.
People create user-generated videos to share their thoughts on products, provide feedback to businesses, and showcase themselves using a product. Brands will often share this content on their own social media platforms to show customer appreciation and tell customer stories. It's also a fun and inexpensive way to learn more about what your customers think about your products.
User-generated videos are effective at generating trust, promoting authenticity, and driving purchasing decisions. In fact, almost 80% of people are more likely to buy products when user-generated content is used.
Live Video
Live videos are real-time videos that give business owners the chance to engage customers directly and answer their questions. This type of video content is often used for Q&As with viewers. It's an effective way to build connections with your audience while providing useful information about your product or service.
source: giphy.com
Where to Publish Video Content
At Red 11 Media, we often get asked why marketing efforts are falling on deaf ears in consultations. *link to CTA for consulting*
"I made a Facebook, TikTok, Twitter, and Instagram page for my business. I'm sharing marketing material that I think my target market would be interested in. Why isn't it working?"
Often, the answer is relatively simple. You're promoting your content on the wrong platforms!
Knowing your target audience is more than just nailing down demographics. Sure, learning that your primary customers are farmers between 60 and 70 years old is great -- but what use is it if you don't know where they spend their time? Let's be real. This target market probably won't be on TikTok, so investing your time and money there won't get you seen by the right people. This is why it is so valuable to know your ideal customer's habits.
Start by researching your target market's social media habits. Where do they spend most of their time?
How to Choose the Best Social Media Platforms for Your Business
Ready to Get Started?
If you're feeling like you're ready to jump into making videos for your business, Red 11 Media can help you on your journey.
Connect with us today to get your videos seen by the world!
