The Power of Video Marketing

Did you know that 6 out of 10 people prefer online video platforms than TV? In 2016, Google even predicted that by 2025, half of viewers under the age of 32 will no longer subscribe to pay TV service. With 78% of people watching online videos every week, and 55% viewing online videos every day, it is now safe to say that Video Marketing has taken over the internet. Videos are everywhere! And they are being used in all possible ways by individuals and businesses alike.

People are innately visual. Videos catch our attention much more than any other type of content. They are also way more fun and engaging for us than texts or images. So it’s only expected for marketers to use this human quality to their advantage. As a matter of fact, 85% of businesses now use video as a marketing tool. The pandemic has even caused more and more consumers to watch videos online as people spend a greater amount of time staying at home.

With most statistical data leaning towards how Video Marketing has been extremely effective and how widely businesses now use this type of marketing strategy to gain more potential leads and sales, what is there for a business owner to think about? No matter what purposes or how videos are being utilized, one thing’s for sure – Video Marketing is a now must-have for every business. And if you haven’t explored or started on this marketing approach yet, NOW would be the best time to take action!

Though injecting Video Marketing into your business strategy may be the best thing you could do to enhance your online consumer outreach, you might be facing a very challenging journey ahead if you don’t know what you’re doing. So to help you out, here are some guidelines that you could apply as you start with Video Marketing:

Set your goals.

Same as any type of marketing approach, there’s a need for you to first determine what your goals are. What exactly do you aim for and expect to gain from doing Video Marketing? Are you targeting brand awareness or is conversion your #1 priority? What is it that you really want to achieve? Of course, goals can vary from one video marketing campaign to another. Just remember to lay out your targets first and keep your goals in mind as you go along with Video Marketing. They will always take you back on track.

Understand and use the most applicable metrics.

How would you measure your video campaign’s success? Is it enough to focus on view count alone to say that the video did well considering your goals in posting it? Deciding on what metrics to use in gauging the performance of your video campaign is vital. An effective way to have a better direction is to tie your goals with your metrics as these two will work hand-in-hand in your overall assessment.

Here are three of the most useful metrics that you should care about:

• View count – As you may already know, this shows the total number of times your video has been seen. So this is best to use if you want to measure the overall reach of your video. Keep in mind, though, that video platforms count views differently. For example, YouTube requires a video to be played for a full 30 seconds before considering it as one view count.
• Watch Time/Audience Retention – Presented as a percentage, these are very valuable data as they show how much of your video your viewers watched, thus interpreting its quality and effectiveness. Is your video engaging enough for viewers to finish the whole thing? Do they skip some parts or suddenly stop watching after reaching a certain point? Use this metric to specify the strong points of your video and which areas you need to improve on.
• Click-through Rate (CTR) – On any marketing campaign, getting people to take action is considered an achievement. When it comes to videos, you want your viewers to not only watch all the way through but also to click on any call-to-action (CTA) placed on your video campaign. Therefore, if your video ends up having a low CTR, you may want to try placing your CTA at a different point in your video. Referring to Audience Watch Time/Retention results can also give you an idea of which point in your video most of your audience was engaged.

Decide which type of video you want to create.

Each type of video has a purpose, and it’s up to you to decide which sort of video would best suit your target audience as well as your specific goals. Knowing what kind of video you will be filming will create a sense of focus and relevance both to you and to your target viewers.

Here are some of the most effective types of video campaigns:

• Brand Videos – The goal of such is to build awareness of your brand and attract people to know more about your company, showcasing its strengths, goals, products and services. This is actually a good way to kick start your video marketing campaign making it an introductory video about your business.
• Instructional Videos – This is a way to guide your audience about how your products/services work, substantially building more interest and knowledge around your business and how effective your solutions are.
• Animated Videos – Animation is a great approach to explaining things simpler, lighter and more understandable. It also gives your creative team more flexibility and a chance to produce something unique and fun for your audience.
• Testimonial Videos – One of the most convincing ways to prove that your products/solutions are effective is through hearing it from one of your customers. Testimonial videos usually involve a satisfied customer explaining or showing how your company was able to help him solve a specific problem.
• Product Feature Videos – Product features provide viewers a closer look at your product – promoting its features, highlighting its benefits and sometimes even putting a physical product to the test.

Take full advantage of Video Marketing now! It’s never too late to try something new especially if it would provide a great deal of benefit to your business. Should you need professional help, Morningstar Digital is more than happy to assist. Just give us a call on 1300 392 542 or book a free consultation here.

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