The Power of Videos - Why You Need To Use Them for Marketing

There is an adage that says, “If a picture is worth a thousand words, then a video is worth a million" (YouTube). The fact is, that they have vastly underestimated the power, reach, and engagement that can be created by videos. I would argue that a video is worth billions.

When the author of that YouTube blog wrote that clever title, I now wonder if they had any idea how much they would be underselling the impact video would have on the marketing industry and the world. That prophetic statement was written in 2010, when there were only 24 million active users on YouTube. By 2023, that number increase to 2.70 billion active users. That does not even begin to take into account the proliferation of video channels that were not in anyone’s contemplation in 2010.

In 2016, a little upstart video service, called TikTok, came into existence. That organization now boasts over 1.677 billion users worldwide. TikTok has joined the ranks of virtually every other social media platform to find a place, or in many cases, favor videos in their algorithms.

If your business has not adapted to the new reality by placing a significant portion of your budget and time into the creation and distribution of videos, then you are being left behind. This blog series will take a look at why videos need to be an integral part of your marketing and sales efforts. We will share the types of videos that EVERY business should be creating.

The Value of Videos

The average attention span of today’s internet users has dwindled to eight seconds (Microsoft). Competition for user attention has never been more fierce, with more social and entertainment channels than ever before (Glossy). Businesses must adapt and find new and innovative ways to stand out and engage their target audience. Videos are one such way to fill that void and engage with their audience in a more personal and intimate fashion than either print or photos. Videos have become a vital component of any successful marketing strategy, and for good reason. In this article, we will explore why videos are so important in attracting and converting prospects, along with the best practices for creating and distributing videos.

With its ability to captivate and engage viewers, videos have become an indispensable part of any successful marketing strategy. Here are just a few of the reasons that videos have become an indispensable tool, for both marketing and sales departments.

Videos Capture Attention - Videos are one of the most effective tools for capturing the attention of their audience. It doesn't matter whether you are a teenager scrolling TikTok, or an executive looking for entertainment (probably on TikTok), or education about a problem you are facing. We all seem to have a preference for videos. Here are a few statistics that prove this point.

• Internet users aged 16-64 spend an average of seven hours per day online, and this time is still increasing (Hootsuite).

• Videos made up 82% of all internet traffic in 2022, compared to 73% before the pandemic (Cisco).

• About 89% of internet users in the US watched online videos in 2022 (Statista).

• Seventy-five percent of executives said they watch work-related videos on business-related websites at least weekly (Forbes).

• Fifty-four percent of consumers prefer to see videos from brands (HubSpot).

• People are 52% more likely to share video content than any other type of content (Wyzowl).

Backed by these statistics, it is no wonder that 91% of businesses use video as a marketing tool, more than any of the previous years (Wyzowl).

Videos Boost Engagement - Engagement is a crucial metric for any marketing campaign, as it signifies the level of interest and interaction from your audience. How many of you have spent hours immersed in a trance-like state endlessly scrolling to the next video? Videos have the unique ability to interact with us and make us we are part of the story. It is a much more personal experience than reading text. Videos also have the unique ability to convey complex information in a concise and easily digestible format. All of this translates to engagement. Here are numbers that prove videos are unparalleled in engaging the consumer.

• Sixty-six percent of consumers have watched video content (i.e., product demos, reviews, FAQs, unboxings, etc.) to learn about a brand or product (HubSpot).

• Eighty-eight percent of marketers have reported a positive impact on their overall engagement levels (Wyzowl).

Videos are also more likely to be shared on social media platforms, compared to other forms of content. This social sharing not only expands your reach but also increases the chances of your message being seen by potential prospects. Videos are shared 1200% more than text and image content combined (LCG).

Videos Build Trust and Credibility - Trust is one of the most vital components that will determine if a prospect will buy from you. Videos have proven to be one of the most powerful tools you can employ to build and retain trust. It is the fact you are watching and listening to how a brand portrays itself that allows you to turn that experience into one that builds trust and credibility. This is best done by showcasing your products or services in action, providing customer testimonials, or featuring expert interviews. Here are some numbers that prove the power of videos to create a more authentic and transparent view of your brand.

• Ninety-four percent of users say that videos help them make purchase decisions (Brightcove).

• Ninety-three percent of B2B buyers say that video builds trust in a brand (Brightcove).

Videos Increase Conversion Rates - The ultimate purpose of any marketing effort is to convert prospects into paying customers. Videos have been proven to be highly effective in achieving this goal. Because of the deep connection, videos are highly effective in influencing prospects and enticing them to take action. Videos can accomplish this in many ways. Explainer videos, or video demonstrations, can help users visualize how they will use or benefit from your product or service. Video testimonials, expert reviews, or case studies can remove any doubts that the consumer might have. All of this leads to higher conversions.

• Videos can increase website conversions by up to 80% (Wistia).

• Video marketing is persuasive, as 84% of consumers say watching videos convinced them to purchase (Zight).

Videos Enhance SEO and Website Traffic - Looking to achieve a lower cost per lead and to gain a new customer? Then, videos are the right formula. Performance Search Engine Optimization is the art and science of creating and distributing content to generate both backlinks and traffic. Videos are phenomenal tools for creating backlinks and driving organic traffic to your website.

Videos will also increase the time the average user will spend on your website. When the average time on your site increases, the search engines will use that metric to establish the value of your content. This will mean better rankings and more organic traffic to your website.

• Having a video on your website increases the chances of appearing on the first page of Google search results by 53 times (Moovly).

• Video content can increase your organic traffic by 157% (Zight).

Videos Return on Investment (ROI) - Because of their ability to attract, engage, and convert prospects, marketing videos have a high return on investment. Marketers worldwide have recognized the value of videos, and 96% of them have made it an integral part of their strategy (HubSpot). The reason for this mass adoption is ROI. Ninety-two percent have stated that videos produce a positive return on investment (HubSpot).

Unconvinced about what marketers say? Then listen to the consumer, as 84% of them say that watching videos convinced them to purchase (Zight).

Conclusion

The evidence is that video marketing works. When executed properly, the power of visual content cannot be underestimated in today's digital age. Videos can captivate and engage audiences, making them more likely to remember and share the message being conveyed. With the rise of social media platforms, and the increasing popularity of video-sharing sites, businesses have a tremendous opportunity to reach a wider audience through video marketing. It allows for storytelling and showcasing products or services interactively and compellingly.

However, the caveat is that they must have the proper strategy and be executed well. Sixty-two percent of consumers are more likely to have a negative perception of a brand that publishes poor-quality videos. This highlights the importance of utilizing the right strategy and creating videos that properly reflect the benefits and integrity of your brand.

In upcoming blogs, we will be sharing the type of videos you need to create, the best practices that should be utilized, and how to ensure that they get the attention they deserve.