Marketing video has never been more important for business. Whether your company is launching a new product in 2020 or you want to provide your customers with engaging information about your brand, marketing video can reach your audience with more effectiveness than traditional sales materials.
In a recent article on trends in video marketing, there were key statistics for 2020 that encapsulated these three takeaways:
#1: Video Content is (Still) King
Since the emergence of You Tube, people have increasingly favored watching over reading on the web. With the proliferation of even more places to view content online and on mobile devices (LinkedIn, Facebook, Snapchat, Instagram, Twitter), marketing video for business is essential. Consider these stats:
- Now, over 80% of businesses use video in their marketing strategy, up 63% from 2019
- Video consumption via mobile is increasing by 100% each year
- 72% of customers report a preference for learning about a product or service through video
A case in point: During a critical Christmas holiday sales window, Wonder Workshop, an innovative toy startup, wanted to have a strong presence on shopping sites like Amazon and Apple Store. We produced several web commercials to highlight key features of their cute robot toy. The spots targeted moms, in particular, as they shopped for that special toy for their child. Moms loved seeing cute kids interacting with the toy and learning more about the ways it could help their child learn about coding. It compelled their decision to “add to cart” and the inventory sold out within 2 weeks.
#2:Video Delivers the Best ROI
Video is the most successful way for businesses to make an impression with their brand, convey information or launch a new product or service, delivering the best bang for the buck.
A case in point: Our client Sony Mobile wanted to educate consumers about a cool new accessory for its Xperia smartphone, the Xperia Ear Duo. We helped them develop a social video campaign which featured their product manager revealing inside tips and cool features of the device as he used itelivering in his everyday life. According to the sales team, these shareable videos led directly to an 140% increase in sales.
With that kind of return, it’s no wonder that recent statistics indicate that 93% of businesses gain a new customer as a result of posting a video on social media.
And remember, once the video content is captured, it can be re-purposed for different audiences and formats with simple re-cutting, adding to your ROI.
#3: Video is Best for B2B Sales
Even if your marketing efforts are aimed at other business leaders rather than consumers, video ranks as the #1 way to communicate. Among business decision makers, 59% of executives prefer watching a video over reading text contentwhen considering a new product or service. LinkedIn is the favored social channel for sharing business-related content and video campaigns have 82% view rates.
Trade show is another weapon in the B2B marketing arsenal and, here again, video is an essential part of standing out and getting your message across in a visually appealing way.
A case in point: Our client Pico Interactive wanted a trade show video to tout the B2B applications of its soon-to-launch VR headset. The existing materials available from the Beijing headquarters featured entertainment applications of the device, so having a sales B2B marketing video that would speak specifically to a business audience was important for the US sales team. In addition to the trade show, the video is also used on the company website and by the sales team in presentations to potential business customers.
Regardless of whether your audience is an existing customer or a potential one, marketing video is the optimal way to tell your story. There are myriad formats to choose from depending on your goals:
- Corporate “image” reels give an overview of your company and its leadership, ethos and vision. These often include interviews with employees and/or testimonials from loyal advocates.
- Social videos can be short and to the point (2 minutes or so), introducing a new product or service or providing more information to the consumer. It’s helpful if these can be designed to play without audio with titles below so that people can “catch the drift” as they scroll through their feed & decide if they want to stop and view it with sound.
- Explainer videos are short informative videos which, as the name suggests, explain a product or service to a potential customer. It’s great if these include some entertaining punch like animations or cool motion graphics
- Trade show trailers and sizzle reels – since trades shows are notoriously noisy, these should be eye-catching and include on screen titles to call out key marketing messages.
- Other types of marketing video can be designed to serve specific needs such as fundraising, recruitment, product demos, tutorials, corporate social responsibility stories, case studies and customer success stories.
Your video production company will want to know all the ways and all the places you envision to use the marketing video so they can design the creative with that in mind. And it’s a good idea to end consumer-facing videos with a call to action so your viewer knows how to take the next step. A few final marketing video stats to keep in mind:
- By making your videos entertaining, the purchase intent will rise to 97%
- 87% of users would like to see more videos from brands
- 97% of video marketers report that video helps user better understand their product or service and increase sales
If you need help putting together an engaging and effective marketing video for business, the experts at Bayside Entertainment can help. They have decades of experience and are always happy to provide a customized quote based on your project parameters.