People watch an astounding 5 billion videos on YouTube every day and they’re putting in an average of 16 hours a week into viewing online video content. Nearly 85% of people who watch an “explainer” video about a product they’re interested in will make the purchase. Given these stats, it makes sense that video marketing content can be up to 1,200% more impactful on consumers than text or images alone.
According to Statista, video marketing spending is forecast to grow from $34.2 billion in 2020 to $63.3 billion in 2025. All but 1% of businesses currently using video marketing will continue to use it, which means the odds are extremely high that your competition is leveraging this valuable tool.
Top Benefits of Video Marketing
Video content creators are able to convey information in an efficient manner. Viewers absorb it more readily than they do text, which means you’ll experience the following when you utilize video marketing:
- Improved SEO
Video really hooks the consumer, which means when they land on your site to watch a video, they stay on your page longer. Google’s algorithm takes note and you get your search engine ranking boosted. - Higher Conversion Rates
It’s possible to increase conversions by up to 80% by using video. Viewers experience an emotional response to video, which helps inform their buying decisions. - ROI
While quality is important, you don’t need a Hollywood-size budget to create compelling video content. Given the conversion rates, the money you do spend will be quickly recouped. - Improved Customer Loyalty
You can only build trust and loyalty with your target audience if you connect with them on an emotional level. Video is the mechanism that helps to develop a bond because you’re able to show your brand’s personality while also imparting information that is important to your audience.
There are many reasons why businesses use video marketing and they will probably differ from one to the other, but the evidence is clear that using video correctly can help make a positive impact on the target audience.
Partner With a Video Marketing Specialist
To reap the rewards that so many talk about seeing with their video content, you must plan ahead, know your target audience and have the skills to create the kind of content that is going to be impactful. Our team at SJC can help you can accomplish those goals.