We’ve come a long way from the first YouTube video uploaded 15 years ago. What seemed like a passing fad at the time has now become an integral part of our everyday lives. In fact, most of us can’t imagine scrolling down our social media feeds without stopping to check out a video. Be it a viral video that is the talk of the town or a branded video that gets you to click ‘buy,’ this medium is certainly here to stay. This all makes brands ask, “How effective is video advertising?”
Clearly, brands need to devise their own video marketing strategy to appeal to the general public. This isn’t something new — most businesses are actually aware of all the benefits video brings to the table. Indeed, 92% of marketers even say that video is an important part of their marketing strategy. And of course it is — the average person watches 84 minutes of online video. If they come across your video, you can expect increased conversion rates and more shares, provided it strikes a chord with them.
The fact is — consumers love how versatile this marketing medium is. In other words, it’s creative, informative, and visual. A triple threat, really. On their part, marketers love how effective it is.
However, if you’re not convinced, we’re here to persuade you. Let’s take a look at the benefits video can bring to your business.
In this article, we’ll cover the following:
Without further ado, prepare to get the answer to the question “How effective is video advertising?”
Video Attracts Customers
It’s no secret that customers love videos, thus giving them what they want can put your brand in a good light. With 6 out of 10 of them saying that they’d forego television in favor of online videos, it’s easy to see where you should focus your marketing efforts. Sure, outbound tricks, like TV and radio ads, can still promote your business, but you need something more memorable that leaves a lasting impression on consumers. And that something is definitely video.
It’s easy to understand why this tool attracts customers. Just think of it from your perspective. Do you like reading huge blocks of text to find out information about a new product? Or would you rather watch a video that’s succinct and sends a clear message? Well, something tells us that you would, like us, go with the latter. Even the New York Times isn’t afraid to proclaim that we’re living in the post-text world. The famous newspaper goes as far as to say that reading prose on a screen is becoming old-fashioned.
How effective is video advertising? Well, if it’s a choice between text and video, then 59% of executives say they’d pick the latter. This desire for video content is even more prominent among younger generations, particularly Gen Z. So, if you want to attract them to your business, says Forbes, use videos as this demographic cohort is increasingly starting to lead digital lives.
Lastly, even a mere mention of video in an email you send to your subscribers can increase click rates by 300%. Your brand and everything you offer will come alive through video advertising!
Video Influences Purchasing Decision
Not only is video popular among consumers, it also influences their purchasing decision. Indeed, 90% of them state that this marketing tool helps them decide what to buy. If they are on the fence, their immediate reaction is to do research. And if your business advertises products by way of video, then they are likely to choose you over your competitor. This is particularly true for millennials. Namely, 80% of millennials consider video content when thinking about their purchasing decision.
So, making video ads is crucial in today’s market. With this medium, you can promote what you offer in different ways. For instance, you can create product reviews and express all unique features your product has to offer. However, to push your consumers down the sales funnel, don’t only use one video type — experiment and create different formats.
To further impact consumer purchasing decisions, combine video with social media marketing as this could be even more effective in sending your audience to their shopping carts.
Visual Is Better
Wondering why video advertising works? Well, video advertising is effective because it relies on two things that are successful in catching our attention: movement and sound. Both of these help marketers send a clear message to their target audience. In contrast, text uses carefully selected words, punctuation, and sometimes visual cues like emojis to set a tone. However, as humans have short attention spans, more often than not texts can’t assist you in achieving your marketing objectives as much as videos can.
The main reason for this is that 65% of the world’s population are visual learners. Therefore, our brain loves and reacts better to video because it remembers visual content more than a page filled with words. In fact, the average person retains 95% of a message when they watch it in a video. Compare this to only 10% we remember when reading something and it will be obvious why we say that visuals are better.
So, if you want to engage your audience and ensure they don’t forget your brand, you can include text, music, links, and photographs in your videos. No other marketing tool offers this ability. Thus, it’s safe to say that video is the king of content marketing. Not only that, but we can also conclude that visuals are the key to success in today’s market. Video advertising works for any business!
Video Is the Best Storyteller
People tend to choose videos because they are entertaining, educational, and inspiring. For all intents and purposes, videos make for great storytellers. So, you’ll bring your product or service closer to your customers with this medium. After all, movement is better at grabbing the attention than still images. It goes without saying that telling your story and promoting your brand is far easier if you already have someone’s attention.
Video advertising works because it allows brands to engage with customers as well. Not only that, but business can also motivate and connect with their loyal base all through this tool. Another thing you might want to do is trigger your viewers’ empathy. This is the foundation of storytelling. Once customers are able to put a face behind your company, they will feel more at ease and start trusting your brand. Consequently, they’ll be loyal to you.
Of course, there’s a lot to be said for writing. However, in the marketing world, video just performs better. In fact, Forbes reports that one minute of video is worth 1.8 million words. This just goes to show how essential video is for your digital marketing strategy. Indeed, 64% of customers will buy your product or service after they’ve watched your video. And if you get them to learn, cry, laugh, or feel other emotions, this number might increase.
Video Increases Revenue
Believe it or not, marketing videos can help you grow revenue faster. Indeed, as many as 49% marketers claim they earn revenue faster when they use video instead of non-video content. This is in part thanks to the growing popularity of this medium, with 78% of people watching online videos every week.
Offering video content that communicates what you offer in a clear manner can assist you in converting prospects into paying customers, thus increasing your revenue. After all, people mostly need that final encouragement before they purchase something. And if they stumble upon a video on your website that tells them how your product might solve their problems, they’re likely to click ‘buy’ without overthinking their decision.
Trust us, video advertising has potential for producing a healthy revenue stream in the long run! If used correctly, then it can result in a higher return on investment compared to almost any other content type.
Video Boosts Conversion Rates
Some marketers reach an impasse and can’t seem to increase conversion rates no matter how hard they try. They employ almost everything to get their customers to complete a desired goal, but somehow they still can’t reach their objective. Well, it’s quite possible that they haven’t leveraged video advertising yet. After all, still images and blocks of texts can only get you so far.
As they’re entertaining and engaging, videos are just what you need to boost conversion rates. If you add them to your landing page, one study states you can increase your conversion rate by a whopping 80%! So, lack of video on your site might be what’s stopping your visitors from converting. If they seek content that will destroy any doubts they might have about your brand, give them videos!
Through Video Advertising to the Stars
As we’ve hopefully shown, video advertising is the key to success in today’s digital marketing. It can help you reach your marketing goals, be it attracting new customers, impacting consumer purchasing decisions, or increasing revenue. So, if you haven’t, it’s time to start implementing it in your strategy. Once you do, you’ll inevitably attract those customers who spend a lot of time watching video content while maintaining your existing base.
