Like it or not, we live in a video-first world and, you will need to incorporate it into your marketing strategy if you want to see growth on your digital platforms.
That’s quite a bold statement to make, but we’re sticking with it and here’s why!
A recent post from Oberlo stated that: “In terms of daily usage, the current global average of video consumption per day stands at 84 minutes, led by China and Sweden, whose populations spent 103 minutes per day in 2019 watching online videos. The global average is expected to increase and hit 100 minutes per day by 2021.”
The simple fact is that online video is accessible to any consumer with a smartphone or computer that has an internet connection. It’s their favourite type of content to see as it’s easy to digest, entertaining and engaging.
Marketers like them because they are generally inexpensive and easy to make, and can give a potentially huge return on investment (ROI) through multiple channels.
According to Miles Bekckler “One minute of video, is worth 1.8 million words of text.” Crazy, right?
He also goes on to say, “Five billion (yes, billion with a B) videos are watched daily on Facebook, and it’s predicted that in just five years it will be an entirely video-based platform.” WOW!
So, what should we be doing?
Danny Ortiz at Cyberclick, reckons there are ten video marketing trends in 2020 to look out for:
- Live Streaming
- Vlogging for Companies
- IGTV and Vertical Videos
- Shoppable Videos
- 360 Degree Videos
- Increased Augmented Reality Campaigns
- Increased Video Mobile Advertising (Videos Ads)
- Greater Commitment to UGC (User Generated Content)
Is it worth it?
In a nutshell, absolutely! Wyzowl reported the following ROI stats from marketers on video marketing in their 2020 report:
- 87% have seen an increase in traffic to their website.
- 81% say it has helped increase the average time visitors spend on their page.
- 95% say it has helped increase user understanding of their product or service.
- 83% say it has helped them generate leads.
- 80% say it has directly helped increase sales.
- 43% say it has reduced the number of support calls they’ve received.
They also claim that “There has been an almost unfaltering rise in the number of marketers reporting a positive ROI from video. Back in 2015, only a third said they got a good ROI. That number more than doubled in the following 12 months, and has since seen further increases, peaking this year at 88%.“
With such damning results, it’s quite clear that with video, you’re not only going to get consumers engaging with (and potentially sharing) your content, but it also opens the door to them turning into profitable leads.
The question you should be asking yourself is how much longer your brand can go without it?
No idea where to start? Get in touch and let us assist you with your digital video journey today!