How successful is video marketing and should my business use it?

With the continued popularity of YouTube and video blogging, companies are beginning to discover the power of video to promote their products. Through tutorials, webinars, walkthroughs and more, the possibilities for video marketing are innumerable.

So who’s using video marketing, and how successful is it? According to Cisco, video will make up 69% of consumer internet traffic by 2017. So now is the best time for businesses to start using video marketing, because it’s only going to become more popular. This video from American Greetings shows video marketing done right.

With the rise of other streaming content on platforms such as Netflix and Hulu, even more people are looking to video for their entertainment and news. Buzzfeed hit big with their viral videos, offering interesting and highly sharable content. At the same time, YouTube is the second most popular search engine behind Google, and receives over one billion unique visitors per month. The number of people subscribing to specific YouTube channels has tripled in the last year alone.

According to Nielsen, 64% of marketers expect video to be their dominant strategy in the near future. Many companies are already employing the use of video marketing to promote their products and services. It’s not hard to see why; the benefits of video marketing are highly valuable. Videos often present narratives, which can help build your brand. Brand building can then lead to greater brand awareness. If viewers link your company or product with an interesting video, they’re more likely to remember who you are. Video marketing is a great way to improve Search Engine Marketing(SEO), because videos often have higher click rates. Also, videos can help improve conversion rates and link building. Online retailer StacksandStacks.com reported that customers that viewed product videos were 144% more likely to purchase the product than those who did not watch a video.

Another benefit of video marketing is that it offers improved user engagement. Because people’s attention spans are lowering, video is becoming a much more effective method of communication than text-based content. A good video will keep the viewer watching. Also, people can’t skim a video like they can a text, so if they watch the entire video, your company has a greater chance of making an impression on the viewer.

For example, retailer Advance Auto Parts found that adding instructional videos to their website and Facebook page led customers who watched to stay twice as long on the site and visit twice as many pages compared to those who did not watch any videos. An important consideration, especially with YouTube, is to create videos with content, instead of just an ad. This makes people more willing to watch, and increases the potential for viewers to share your video with others.

For businesses looking to start their video marketing efforts, here are a few ideas for effective content. An introductory video, offering visuals and sound as to who your company is and what it does, is always a good starting point. Secondly, you could create a video responding to customer questions. This engages the customers directly and shows that you care about their input. Similarly, you can produce a video that stars fans and users of your service or product, which adds a personal and authentic element to your business. This can be beneficial because it can allow the viewer to connect with the video emotionally, something that is much harder to accomplish through text. Here’s a good example of a case study video, which features users of GoToMeeting.com, relaying how the product has benefited their business. The testimonials are engaging, not static, which makes for a more effective video.

When deciding whether or not video marketing will benefit your business, you should consider your demographic. For example, videos are great if you’re looking to reach a younger audience. Nielsen reports that YouTube reaches more people in the 18-34 age demographic than any cable network.

Take a look at this guide to help you jumpstart your video marketing strategy or contact WebScout for a free 15-20 minute consultation.