Advertising options have changed dramatically over the last few years or so with the advent of the digital marketplace. Social media has changed the way consumers and companies interact with one other, and according to a 2015 study by BIA/Kelsey, a media advisory firm, video has now become the fastest growing medium.
Building the brand
Adding video to a marketing campaign is one of the most efficient ways for companies to interact with their customers because it allows consumers to get to know the company more personally and feel comfortable engaging with them. Animoto, a cloud-based video creation service, found that out of a group of consumers studied, 84% of them liked a branded video in their social media feed.
And now with mobile gaining in popularity, video views are increasing. In fact, in 2015 consumers spent approximately 39 minutes per day watching videos on mobile devices. This was a huge increase from just an average of three minutes per day in 2011. As more and more mobile applications continue to hit the marketplace, this number will likely increase.
Apart from being a favorite medium of consumers, video also has the ability to create immediate SEO results. According to Forrester Research, video is 53 times more likely than text to appear on the very first page of a search engine. And when video drives more search results, this ultimately means more profit for companies.
Increasing conversion rates
Since video is a moving medium, it engages customers more effectively than static ads. Video provides the face of the company and allows a business to set themselves apart by grabbing a customer’s attention and letting them know what differentiates them from the competition.
The bottom line is video works. Technology and networking company Cisco predicts that internet traffic will be dominated by video in 2019 with 80% of consumers choosing to view videos. The popularity of YouTube is undeniable, but now large players like Facebook are getting into the game. And thanks to new features like Facebook Live and changes to their news feed algorithms, the social media giant is fast becoming one of the most business-friendly sites.
Video is now dominating content marketing and businesses who want to stay on top must market across multiple channels. Nielsen stated that 64% of marketing budgets are now moving towards video. With these statistics, it’s easy to see how video marketing is absolutely essential for any business wanting to compete in today’s marketplace.