Lights, Camera, Conversion: The Power of Video Marketing
It’s no surprise that online videos have taken content marketing by storm. More consumers are looking to online videos for information and entertainment, and smart marketers are capitalizing on the rapid growth of video marketing. A recent report by Wyzowl suggests that 91% of businesses plan to increase or maintain their spending on video in 2016.
Rise of Storytelling
What’s driving the peerless rise of video marketing? For one, it’s an amazing storytelling channel. No other marketing channel combines sound, sights, and dialog to bring ideas to life and create an emotional connection with audiences. According to Wyzowl’s report, 69% of users prefer to watch a video over text to learn about a product or service. Some 98% of users say they’ve watched a video to learn more about a product or service.
Killer Conversion Rates
Consumers crave video as part of the customer journey, and marketers who serve it up are seeing killer conversion rates. Nearly 74% of respondents who watched an explainer video to learn more about a product subsequently bought it. Furthermore, 77% of users say they’ve been convinced to buy a product or service by watching a video. Online videos are clearly a persuasive and profitable marketing tool, and those businesses that fail to include it in their internet marketing strategies do so at their expense.
When it comes to potential reach, video is without parallel. More than a billion users - a third of all internet users - visit YouTube every month. More impressive still is that 70% of consumers have shared a brand’s video with a friend, and some 76% of users would share a branded video if it were entertaining. Fortunately for marketers, consumers are highly motivated to share branded videos. Peer-to-peer endorsements helps businesses cut through the chaos and are one of the most compelling forms of advertising a brand can obtain.
Powerful, persuasive, and pervasive, video content is the future of digital marketing. Big brands and small business alike need to start thinking about video as a core channel in their marketing strategies and a key driver of sales.