What Video Marketing Can Mean For Your Business
According to Cisco’s Visual Networking Index, we should expect to see the following trends in the next few years:
- In North America, Internet video traffic will grow 4-fold from 2012 to 2017, a compound annual growth rate of 30%.
- In North America, consumer Internet video traffic will be 73% of consumer Internet traffic in 2017, up from 66% in 2012.
- In North America, 395 billion minutes (752,341 years) of video content will cross the Internet each month in 2017. That’s 150,468 minutes of video streamed or downloaded every second.
- Traffic from wireless and mobile devices will exceed traffic from wired devices by 2016. By 2017, wired devices will account for 45 percent of IP traffic, while Wi-Fi and mobile devices will account for 55 percent of IP traffic. In 2012, wired devices accounted for the majority of IP traffic at 59 percent.
Clearly, video is rapidly moving to take its place as a major marketing and messaging medium. Forrester Research’s Dr. James McQuievy states that 60 seconds of video is equilvalent to 1.8 million written words! Consumers and Business-2-Business Clients no longer have a lot of time to read a lot of information to make an informed decision. When a prospect is researching a real estate property, resort location, business service, software platform, restaurant, or other service they are much likely to view a video on the subject on their mobile device over pictures, pictures over text, and text only information will appeal to a much narrow market base (mainly the elderly).
What Video can mean for your Social Campaigns…
If your business or service is committed to creating a significant social presence then you should consider the affect video has on social channels. According to Hubspot, 1-in-5 Twitter users found videos from other Twitter members posts. From those Twitter members who discovered these videos, 2/3rd of the users believed those video links were worth watching (even when plugging obvious brands). You should know that 700 YouTube.com videos are shared on the Twitter network every 60-seconds. Now consider the impact a video can have on facebook.com. Facebook users are much more likely to click on a video with a creative frozen frame than click on a photo album or read about an upcoming promo or sale. The new messaging is through video! On facebook, over five hundred years of video are consumed every day.
Consider the additional increase in North American video posting and participation within social media. 31% of Americans who go online post a video of some kind! Out of that percentage, 11% are aspiring to become online video personalities. With a little support you can turn this small percentage of wanna-be stars into your fiercest brand advocates. Whether it is a bloggers review video channel (with a plug for your product) to your brand sponsoring a niche blog (e.g., semi-pro BMX dirt bike riding, adult-age softball league, local Moose Lodge Events, etc…). The possibilities are endless if you use your imagination and build your social presence with video and/or incorporate others video work within your own social channel.
How Does Video Translate into Email Marketing?
While it may be easy to proclaim video as the new method of marketing engagement in direct response marketing, there are still some “old school” marketing methods that are driving home revenue dollars. Consider the following information as video transforms the landscape of video marketing.
GetResponse.com did a test of video emails against tradition all text with pictures emails. Out of 800,00 test emails sent, the emails with a video exhibited a 5.6% higher open rate and 96.38% higher Click Through Rates (CTR) than the emails without video. The GetResponse study demonstrated that, “…video emails engage the recipient enough to click through at almost twice the normal rate.” Pretty incredible considering this was their first test of the medium without heavy tweaking or optimization. Furthermore, an Experian 2012 study showed that when Internet Marketers used the text “video” anywhere within the main subject line of the email that Open Rates increased seven to thirteen percent!
How Does Video Compliment My SEO?
Whenever you are building a web presence it is good to create an Octopus. One main brain (the website) and tentacles that reach different areas within the world-wide-web (social, email, live chat, audio, and video). You are offering multiple arms to grab your consumer and pull them into to your sphere of influence. Consider EConsultancy.com’s study on video which shows the value of brand’s using video as their communication medium. Their study demonstrates consumers prefer 2 minutes of video against 10 minutes of video, customers/prospects like to share videos that they identify with, videos increase engagement, and currently…video search is FAR LESS COMPETITIVE than regular search results. Not convinced? Forrester Research reports that the chance of being included on page one in Google when you use a video increases by 53 times! While that may be great consider the current statistics show that mobile users spend 50% of their time accessing video content (ByteMobile Analytics Report 2013). The trend will only continue to climb.
Summary of the Benefits of Video for Your Business or Service
Videos give your business or service a voice that it does not otherwise have. With video you are giving Google and other search engines another reason to add relavence to your brand within page ranking and search relevance. Video engages your prospects and existing consumers like no other medium. Consider the following statistics:
- Zappos.com experienced a three to six percent sales increase in various products which incorporated a video
- Ice.com realized a 400% conversion increase when they discovered their prospects utilized their videos over those who did not.
- A ComScrose.com study discovered that the average online visitor stays on a website 120 seconds longer than when a video is NOT featured.
- MarketingProfs.com reports that 81% of senior marketing executives use video in their marketing campaigns.
- In almost 70% of the top one hundred Google search listings had videos in them in 2012.
The issue for your small business or service shouldn’t be if you should utilize video but instead, what is the best video medium to represent your brand. Grey Hat Media can help you achieve just that. Contact us for a quote and we can talk through your brand message and sales campaign strategy to develop a video that best meet your needs.