Video has come a long way. No longer just a form of Saturday-night family entertainment, it’s a versatile and widely used medium that boosts business visibility, customer traffic and profits.
The number of organizations creatively and strategically using video — in multiple formats and across social media platforms — to boost marketing efforts and revenue increases each year.
Video Helps Increase Revenue
Videos capture the interest of potential clients and can lead to an expanded customer base. Increased sales often follow. In fact, businesses that use videos grow company revenue 49% faster than organizations that don’t, according to the Aberdeen Group and Vidyard report “The Impact of Video Marketing.”
90% of customers indicate that product videos help them make buying decisions, according to Vidyard.
Video drives revenue because it helps the company come to the customer, who then becomes familiar with the brand.
“Increased engagement with your content helps build trust and affinity for your brand and can increase demand in your product or service,” says Pierce Nudd in his WireBuzz article “32 Video Marketing Statistics That Matter In 2018.”
Nudd writes that when people know, like and trust you, “they’re more likely to give you their money.”
How Video Can Help Your Business
You must bring your brand to life, and video can help.
Ashley DeLuca, principal of Ashley K. DeLuca Consulting, uses tutorial videos to link to her ideal clients — creative entrepreneurs — with information and strategies to help them take their business to the next level.
DeLuca emphasizes that videos extend her reach, expand her audience and generate paying clients. After watching DeLuca’s videos, her clients seek her professional expertise in digital marketing to design their campaigns.
The impact? DeLuca’s income has doubled!
Maia Hariton, owner of her own web design company, promotes her services and expertise through tutorial videos. For example, she walks viewers through the process for building a blog in Squarespace.
While the videos don’t generate income directly, Hariton says they draw in clients who hire her for web design projects.
Courtney Moody, owner of the content and digital marketing agency Mood Marketing & Events, says the video campaigns she creates for one of her spa clients have been especially effective in boosting retention of existing clients and bringing in new ones.
In addition, the videos have helped increase web traffic, spa bookings and retail sales.
Where Can You Feature Videos?
Where do videos go? According to Vidyard, on websites, where 86% of businesses share video content; and social media, a primary video-placement medium for 77% of businesses. Email is not far behind.
According to Animoto, 64% of consumers who watch a marketing video on Facebook say it influences their purchasing choices.
DeLuca says a good part of her success comes from consistently running the videos on social media platforms. This regular and steady presence generates a lot of followers and paying customers. Hariton’s YouTube videos enhance SEO and lead to queries about her services. This marketing tactic can also lead to brand loyalty and consistent customers.
Moody says her spa client posts videos on all of its social media channels, primarily targeting existing customers who follow the spa regularly and always want to know what’s coming up by way of services and products.
Crafting The Right Strategy
Katie Pritchard, in her Impact article “25 New Video Marketing Statistics to Fuel Your Strategy in 2019,” shares some insights into the value of crafting a refined marketing strategy:
She says video marketers get 66% more qualified leads per year than other businesses, and that businesses using advanced video analytics were twice as likely to report that returns on their video investments are improving.
Moody explains that video content is a large part of her marketing strategy.
For example, Moody’s video campaign for one of her clients involves creating weekly videos that promote a monthly treatment special to highlight skin-care advice, along with related product reviews. Moody says such videos generate business for her client in a few ways.
“They have established a solid brand and put a ‘face’ behind the brand,” she says. “They promote products and services in a fun, quick way, and they provide a way to establish the brand/company as experts in what they do by offering tips and tricks to clients –or potential clients — for free.”
Establishing The Video Advantage
Many companies believe in video. They invest a good portion of their budgets into video creation, with 60% of businesses saying they spend more than 25% of their marketing budgets on video, according to Magisto.
Know how you want to leverage video to maximize messaging and profits. Typically, businesses use videos to:
• Connect with the targeted and existing audience
• Build customer engagement
• Drive leads
• Boost conversion and sales
• Position brands or build brand awareness
• Target and educate a particular market
Also, determine the types of videos you want to produce. Remember, you don’t have to limit them. Varied formats tap into unique audiences in different ways.
Videos clearly can benefit a business’ bottom line. They are a critical part of the customer journey, with purchases often being the final leg of that journey.
You worked so hard to gain the customer’s interest with a professional video, make sure their transaction is smooth. Reach out to Talus Pay for a quote today!