The Impending Video Takeover
Remember when the Buggles debuted “Video Killed the Radio Star” on MTV? Or maybe just know a wise old marketing senior who does? Regardless, it’s time to look into the wayback machine, because video is at it again, and this time it’s devouring the marketing universe.
Today, 93% of teens to young adults claim they go online daily, and they should be the target audience for forward thinking companies. As Baby Boomers and Generation X age through and out of the major sales network over time, Millennials will be filling those buying positions. Marketing teams and companies have been shifting their focus to online media because this new generation relies on smartphones and online media more than their predecessors. The virtual world and video as a medium are a match made in heaven, and the proof is evident in video marketing statistics.
Video Marketing Statistics
For those “Blockbuster” types who think we have reached the height of technological advancement, take a look at the following statistics provided by Hubspot:
- Projections suggest video marketing will reach 80% of internet users by 2019. Reach is important to consider along with the target audience. In this case, we know that many internet users are younger and new to the marketing pool. They will learn about a variety of content through video marketing in lieu of traditional commercial practices.
- Marketing emails accompanied by a video can increase click-through rates by 200% – 300%. Many of us don’t bother opening marketing emails, and, when we do, it is often disappointing. Adding a video can have drastic, positive changes to that typical outcome.
- 64% of customers are convinced by content they see in video marketing to purchase a product. Put simply, over half of potential customers will decide to purchase your service or product after watching a video about it. While Billy Mays set some infomercial standards (RIP), fresh online video marketing offers quality content that educates the customer about the area itself. Then, on their own, they decide that your product fits the quality standards they have recently discovered.
Video Marketing Benefits
“Would you like to know more?” is the semi-famous, nationalistic infomercial slogan from the dystopian utopia portrayed as America in the film “Starship Troopers”. Released in 1997, it foreshadowed catchy video promotions that provided Americans with statistics and news in a digestible format. Now we are fulfilling that prophecy by taking advantage of video marketing benefits:
- 2.5 exabytes of data are created each day, and we suck it up like Shamwows. It takes the shape of many content platforms, but videos organize the information in a retainable way. Video marketing use visual and auditory cues to maximize memorable opportunities; basically video uses more of our senses than reading.
- Videos are universally adaptable, which is penultimate in today’s technology. People move from their TV to laptop to smartphone to Ipad and expect minimal lag-time and comparable quality. Written content may not stay the same format between platforms, but video can easily transition platforms.
- 80% of customers can remember video content watched in the last month. Due to the amount of information being processed, retainment is a major benefit of video marketing. Once again referencing its ability to impact viewers through multiple receptors, videos can get stuck in someone’s head like a song. Repetition can drive curiosity and that is why people look to learn more later.
Successful Video Marketing Tips
Because the marketing industry is comprised of quick-learners, many marketing professionals have already adapted to the medium of video. Unfortunately, participation alone isn’t rewarded. Many have made the mistake of just creating noise with drab, confusing videos that are even more overlooked than traditional written content. The following are a few strategies that can raise your marketing efforts above the dreck:
- Try not to focus on “going viral” or the sale. The whole idea behind content marketing is providing value to customers. This can be done through telling a story and putting less direct emphasis on your product.
- Spark instant curiosity. You have around ten seconds to make a personal connection with the viewer, or they will move on to something more akin to their interests. Use a question and tease them with outlying information that they just need to know more about.
- Be consistent. Although the idea is to provide customers with create relevant, usable information, they should know where it is coming from. Videos and other content media needs to share similar color schemes and logos so viewers identify you as an authority figure.
Of course, those of us who relate to Howard Hughes – deftly played by Leonardo DiCaprio – want to chase the trends of the future. Video marketing is becoming the preferred method of delivering information, and it leads into the future of virtual reality (VR) and Augmented Reality (AR). VR and AR are the most interactive way of connecting digitally with consumers to date, and they’re already being used to create immersive content.
Video is just getting started.
“In my mind and in my car, we can’t rewind we’ve gone too far.”
This is a guest post by Ryan Ayers. Ryan has consulted a number of Fortune 500 companies within multiple industries including information technology and big data. After earning his MBA in 2010, Ayers also began working with start-up companies and aspiring entrepreneurs, with a keen focus on data collection and analysis. Follow Ryan on Twitter: @TheBizTechGuru