The Benefits of Video Marketing for Revenue Growth
In the last decade, video has grown into the frontrunner for impactful marketing content. All successful brands, regardless of industry, can benefit from video marketing and show significant business growth. And with increasing digitalization across consumer groups, video marketing is only going to grow. Don’t get left behind: learn and adopt the powerful benefits of a video strategy today.
What are the benefits of video content?
- It’s dynamic: Videos easily grab the attention of viewers. The same content in text or infographics may not hold audience attention for long.
- Easy to consume: Unlike a long-form article or case study, the viewer knows that it will only take a few minutes to watch a video.
- Highly versatile: Whether it’s to launch a product, celebrate an employee, or run a contest, video is a flexible medium to convey information.
- Platform-friendly: You can use video content on your website, social media channels, blogs, email newsletter, internal company chat, and more.
- Effortless to share: Viewers can easily share video content through messaging platforms, which can significantly increase a brand’s reach.
How can video marketing help your business?
There’s a common misconception that video marketing is only suited for consumer-facing brands or large-sized businesses. But the truth is that, because it is such a versatile medium, video content can benefit businesses of all sizes across verticals. Video can help you impactfully:
- Launch a product
- Explain a service
- Raise brand awareness
- Persuade prospects
- Convert leads
- Share product features
- Showcase case studies
- Celebrate employees
- Thank customers
- Create user-generated content
Still unsure about using video marketing? Let’s look at how the numbers show the impact of audience growth, ROI, and revenue for businesses that have adopted video marketing into their strategy.
Statistics that show how video marketing drives business growth
- Close to 65 percent of people have purchased a product or service after viewing branded social videos.
- By the end of last year, the average person was expected to watch 100 minutes of video online every day.
- More than 95 percent of people have watched explainer videos for more information about a product or service.
- Compared to those who don’t, marketers who use video marketing have seen their revenue grow by 49 percent.
- 87 percent of marketers state that video marketing has led to positive ROI.
- More than 50 percent of marketers believe the best ROI comes from video content.
8 ways video can help you grow
1. Video content is king
People love videos and the proof is in the constantly rising data. On average, users watch over 16 hours of videos a week, according to Wyzowl. Yet, it doesn’t cause information burnout, since the medium is dynamic and easy to consume. 68 percent of consumers prefer videos to ebooks, infographics, articles, or presentations, while more than 85 percent of people want to see more videos from brands.
2. Video builds a consistent brand message
A brand’s public persona is built from its tone, voice, and purpose. While other forms of content can deliver bits and pieces of that identity, video can convey the whole picture.
Through a series of videos, you can communicate a singular brand message. This helps in brand recall and makes a brand stand apart from its competitors.
3. Video marketing improves conversion rates & leads
Around 84 percent of marketers state that video content has generated leads for their business. Among all the benefits of video marketing, this alone should interest you in investing in it.
Want to increase the conversion rate of your website by 80 percent? Just add a video to your landing page.
4. Increased marketing revenue with greater ROI
Close to 93 percent of marketers state that they have added a new customer due to a social media video, while businesses that use video content generate 66 percent more qualified leads compared to those that don’t use video marketing.
This impressive ROI can be attributed to video’s ability to communicate all facets of a product or service, as well as share the success stories of other customers.
5. Give buyers the content they want
The worldwide success of streaming platforms should tell you that customers want more video. That also explains why YouTube is the second largest search engine on the planet.
By using video, in other words, you’ll be giving customers what they want. You can give demo videos to prospects, feature and case study videos to leads, and how-to videos to your customers.
6. Improves brand awareness & overall website traffic
Videos are highly shareable. If a user likes a video, they are more likely to share it with their friends and colleagues than an article or static ad. This significantly increases engagement for the video, while organically expanding the reach of your communication without you having to spend extra.
Videos also do well with search engines. Users are 26 percent more likely to click on results that have videos next to them. This improves your SEO and drives more organic traffic to your website.
7. Engage & build new audiences
Using on-demand video content, you can increase engagement on your social platforms. Including video in your outreach makes your content more versatile and gives more reasons for your followers to interact with your page.
Since social media algorithms prefer video content over others, your posts also will have added visibility, which will help you grow your audience.
8. Video marketing builds buyers’ trust
One of the most important benefits of video marketing is that it can humanize a brand. You can choose a friendly tone and manner and even put a face to your communication. This will build empathy with the audience.
You can use videos to show unboxing, share product features, and best practices, all of which will increase buyers’ trust in your product or service.
Video marketing needs to be part of your marketing strategy
Brands that have incorporated video into their marketing boast demonstrable impacts on their bottom lines. More importantly, the benefits of video marketing are being felt by both B2B and B2C businesses irrespective of their sizes.
In other words, no matter who your target audience is or what your business objective is, video marketing can help you.
Create stunning marketing videos on budget, from anywhere
You don’t need a video production agency or in-house experts to avail the benefits of video marketing. OpenReel makes it exceedingly easy to create professional, high-resolution, studio-quality on-demand video content from the confines of your office. Get started in video marketing with a demo from OpenReel.