The Creative Toolkit for Marketers

5 Benefits of Video Marketing (Video Statistics for 2020)

Jun 18, 2020 6:45:00 AM / by Chelsea Sassara

 

As I was getting ready to sit down and write this article, I was scrolling through Twitter and saw Burger King’s “no artificial preservatives” marketing campaign. It features a time-lapse video of their signature Whopper becoming moldy after sitting out for 34 days and closes with the punny line “the beauty of no artificial preservatives.”

 

 

While I didn’t necessarily love seeing the process of food spoiling, I watched the 40-second video from beginning to end. I then showed it to my co-workers, where we debated over whether we loved or hated the campaign. We also shared it on LinkedIn to spark a conversation with other marketing professionals.

 

That, right there, is the power of video marketing.

 

The video grabbed my attention and elicited enough of an emotional response for me to procrastinate my work (yep, this very article) to discuss it with others.

 

Besides word of mouth advertising and the reach of social media, there are a multitude of other reasons to utilize and implement video into your marketing strategy. This article will outline the 5 main benefits of video marketing and how to get started.

 

The Real Benefits of Video Marketing

I sound like a broken record when I say this but it’s true: video is king of content.

I could go on and on with more statistics, but you get the idea, right?

 

Naturally, this means that video is essential for any business and its marketing strategy. Video is versatile, engaging and can help grow your business. Let’s now dive into some of the top benefits of implementing video to your business.

 

1. Video Boosts Sales and Conversions

The goal of any business is to make money. Video can help bring money in the door, and who doesn’t love that? Don’t just take it from me (are you ready for some more stats?). A study found using videos on landing pages will increase conversions by 86%.

 

In the age of online shopping, product or service videos play a huge role in increasing sales. Consumers who view a product video are 85% more likely to add that product to their cart than consumers who don’t watch a video.

 

Also, where both video and text are available on the same page, 72% of people would rather watch a video to learn about a product or service.

 

Think about the number of times a video has helped you in the buying process. The internet offers a bountiful amount of resources so that we can compare products and make educated purchasing decisions. Providing video of your products or services for potential customers can help them pull the trigger and buy.

 

2. Return on Investment

Now, I know what you’re thinking, video is an investment when it comes to time and money. That fact alone can deter or delay a business’s venture into video marketing. In fact, 20% of non-video marketers say they don’t use video for marketing because it’s too expensive.

 

I get it.

 

However, that’s where those conversion statistics we talked about earlier come into play. 89% of video marketers say video, in general, gives them a good return on their investment.

 

Here’s a hot tip if you’re still worried about investing thousands of dollars in a video. Animated videos have a longer shelf life than live-action and can more easily be updated down the road. Get your feet wet, you may be surprised to see your ROI on just one video.

 

CLICK HERE TO READ HOW MUCH DOES AN ANIMATED VIDEO COST?

 

3. Video Improves Search Engine Optimization (SEO)

I know that whenever I’m searching for an answer, whether it’s, “How to cook chicken in my new Instant Pot” or “Top mechanics near me,” I turn to Google. And I’m not alone.

 

As much as 63,000 searches are made on Google per second.

 

So how do you cut through all that noise? How do you make sure your potential customers find you and/or find your product? The answer is Search Engine Optimization (SEO).

 

SEO is the practice of increasing the quantity and quality of traffic to your website through organic search engine results. It’s all about keywords, meta descriptions, alt text, headers, bullet points, and much more.

 

Now, video plays a huge role in SEO. Video drives a 157% increase in organic traffic from search engine results pages (SERPs).

 

Part of this is due to the fact that Google, the number one search engine, owns YouTube, the second largest search engine.

 

Ranking higher on Google (and YouTube) for keywords related to your business can drive traffic and increase the chances that new customers find you in a highly-saturated market.

 

4. Video Increases Engagement

Humans have an average attention span of just 8 seconds (compared to a goldfish which is 9 seconds), so with that in mind, it’s hard to both capture and keep your audience focused on whatever you’re trying to sell.

 

How many times have you heard someone say, “I didn’t have time to read it?” I love to read, but I’m also a multi-tasker, so sometimes it’s easier for me to have a video playing while I’m trying to respond to a timely email.

 

While you, of course, hope your audience is only paying attention to your video, that’s not always the case, which is why messaging is so important. If you have a catchy hook in your video, you may be able to shift your viewer’s attention away from that email.

 

And once you do capture their attention, viewers claim they retain 95% of a message when they watch it through video.

 

If your viewer does watch a video all the way through, it’s important to guide them to the next steps you’d like them to take with a CTA (call-to-action). Is there another video you’d like them to watch, an article to read, or do you want them to set up an introductory planning conversation? Now that you have their attention, do what you can to keep their attention and convert them into customers.

 

READ: WHAT IS INTERACTIVE VIDEO?

 

5. Video Builds Brand Recognition and Trust

Let’s say it again, video is an effective way (as outlined in the gazillion statistics mentioned) to reach your target audience and convert them into customers.

 

59% of consumers prefer to buy from familiar brands, so it’s important that customers remember who you are once they buy from you.

 

You can build brand recognition through your visual identity such as your logo and colors, but also through your values, voice, and differentiators – all of which you can convey in a video.

 

A good place to start when it comes to building brand recognition is with an explainer video. With an explainer video, you can define who you are, what you stand for, the services you provide, examples of your work—the list goes on and on.

 

Here’s a look at VMG Studios’ explainer video.

 

VMG-Studios-Explainer-Video

 

We produced our own explainer video, so bonus, we’re also able to show-off our capabilities while highlighting who we are and what we do. In fact, someone reached out to us to learn more about our animation skills, and while we pulled together some examples, we sent them the explainer video to get to know us. That person said they didn’t need to see any more examples because the animation in the explainer video sold itself!

 

Video, whether it’s an explainer video, product video, or how-to video, shows your company cares enough to take the time to educate and help customers through an easily-digestible medium.

 

How to Implement Video Into Your Business

A video is a beast of a project and it’s not something you can add to your business with the snap of your fingers. It requires a lot of time, money, and strategy – but in my opinion, the pros outweigh the cons.

 

If you’re feeling overwhelmed with the prospect of video marketing, just remember these 5 key benefits:

  1. Higher sales and conversions
  2. Return on investment
  3. Increased search engine optimization (SEO)
  4. Increased engagement
  5. Brand recognition and trust

There are endless amounts of resources and partners to successfully implement video into your business.

 

You can learn more by clicking the image below and downloading the free eBook: The Beginner’s Guide to Video Production

The Beginner's Guide to Video Production eBook

 

Tags: Video production, Marketing, Video, Video marketing

Chelsea Sassara

Written by Chelsea Sassara

Chelsea Sassara is a Content Manager at VMG Studios. Chelsea is an Emmy award-winning journalist with a background in local TV news. She loves to write, her dog & cat, the Pacific Northwest, and the Oregon Ducks.

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