8 Reasons Video Marketing is Essential to Business Growth in 2023
92% of marketers say it’s an important part of their marketing strategyThere’s no question about it — video is going to be the most effective marketing tool in 2023 and the foreseeable future.
In 2020, 92% of marketers say that video is an important part of their marketing strategy. This has grown from 78% in 2015, showing that the importance of video is only growing.
So what is it that makes video so important? Well, according to 88% of marketers, video marketing provides them with a positive ROI. When you consider that only 33% said the same in 2015, it shows that consumer sentiment toward videos is much stronger now.
Only 18% of traffic will be left for users to browse websites, read articles and blog posts, skim emails, and scroll through non-video social media posts.
87% of businesses are already using video marketing, according to a Wyzowl survey.
If video isn’t already a substantial part of your marketing strategy, you’re missing out on much of your potential customer base.
Let’s be honest. Video isn’t the cheapest form of marketing content.
WHY INVEST IN VIDEO MARKETING FOR YOUR BUSINESS?
But when you invest the time and money necessary to develop a strong video marketing plan, your results will astound!
Video marketing nearly guarantees you’ll accomplish these 8 common business goals:
You run a business — of course conversions and sales are your #1 priority.
1. Increase conversions & sales.
The good news? Because of their engaging nature, videos are the perfect way to convert online consumers to profitable customers.
In fact, 84% of people say they have been convinced to buy a product or service by watching a brand’s video (Wyzowl survey).
The survey found that 84% of video marketers say their video efforts helped them with lead generation in 2020.
2. Track your ROI.The higher price tag on a video marketing campaign can be daunting.
But honestly...video marketing is ALWAYS worth it.
HubSpot conducted a recent survey that found over 93% of video marketers say it’s an important part of their marketing strategy.
PLUS, you can actually measure the results from your video campaign.
By tracking impressions, play rate, viewer engagement, lead generation, and Call-to-Action (CTA) link clicks from your initial video marketing efforts, you can gather all the data you need to decide how to improve your subsequent video campaigns.
And if that’s not enough, videos can be repurposed easily across a range of platforms, from your website to social media to email newsletters and campaigns. When you make video a part of your 2023 marketing budget, you’ll get the biggest bang for your buck.
Consumers evaluate your website and marketing content with a highly skeptical eye — and possibly a predetermined reason NOT to spend money on your product or service.
3. Build customer trust.
Work to gain your customer’s trust.
That means you have to provide the sort of marketing content your customers would actually enjoy — i.e. video!
Not only do videos offer your customers interesting content, but they also humanize your company. Your message will be far more believable if internet users can actually watch and listen to a real person talk about your product or service.
Google LOVES video!
4. Boost your SEO.
When deciding how to rank webpages on the Search Engine Results Page (SERP), Google gives ranking priority to pages that have videos. So not only is video a wonderful marketing tool, but it’s a powerful Search Engine Optimization (SEO) strategy as well.
And your company needs all the help with SEO you can get. Less than 10% of webpages get organic traffic from web searches (Ahrefs).
Not only does Google prefer online video content, but so do most mobile users.
5. Engage mobile users.
And these days, more people are consuming content on their phones than ever before. Pew Research Center found that 85% of Americans currently own a smartphone.
What are people doing on their smartphones?
Mobile users spend up to several hours a day consuming video content on social media platforms, like Facebook, Instagram, and, of course, TikTok. In fact, TikTok — an app entirely dedicated to sharing and watching videos — was the most downloaded app in 2020 (App Annie).
And exactly how much video is consumed on phones?
According to eMarketer, 75% of all videos are played on mobile devices. That’s a lot!
Video is the most digestible form of marketing content out there.
6. Simplify product/service explanations.
When learning about a product or service, most people prefer brief video explanations over lengthy written explanations — like blog posts, articles, and product page text.
That’s why videos are great for companies with complicated products or services. Plus, if your business is looking to develop its brand in a specific way, video content is key.
An astounding 94% of video marketers say video has helped increase user understanding of their products or services (Wyzowl survey).
Not only do videos provide simple explanations, but they are also frankly more engaging to a broader audience.
7. Intrigue lazy buyers.
Extremely easy to consume and intriguing from the start, videos are precisely what modern consumers are looking for on the internet. When text and video options are offered on the same webpage, 72% of people would choose the video to learn more about a product or service (Wyzowl survey).
And according to the 2020 survey, 85% of people said they would like to see more video from brands in 2021.
Your customers have spoken — they want more video!
Simply put — people love sharing videos.
8. Secure more social shares.
In fact, people are twice as likely to share videos with friends as they are to share any other form of content, including social media posts, blog posts, articles, and product pages (Wyzowl survey).
Small Biz Trends found that videos on social media are 12 times more likely to be shared than text and images combined! And a whopping 92% of mobile video consumers said they share videos with others.
IMPLEMENTING A VIDEO STRATEGYUnfortunately, developing a video marketing strategy that’s optimized for conversions, search engine ranking, and positive user experience isn’t as simple as recording content with a smartphone camera.
An effective video marketing campaign requires lots of planning and creative thinking — from choosing the right kind of video to writing a powerful script to executing the actual video production.
Our marketing team at BlueTone Media has the experience and expertise your company needs to create stunning explainer videos, brand or promo videos, pre-roll videos, and more.
Want some examples of our work?
Check out our explainer video (that explains explainer videos).
Looking for a slick, engaging brand video? We develop those, too!
Interested? Or need more examples? Let’s start building your 2023 video marketing strategy! Reach out to us today.