If a picture is worth 1,000 words than a video has the power to speak volumes. It’s no wonder that videos are so effective at engaging customers. They can hold their attention for longer periods and deliver more dynamic content than photos or even text alone.
Including video in your marketing strategy is no longer an option – it’s a necessity. It is one of the most effective forms of online marketing and can have a significant impact on your bottom line.
What is video marketing?
Video marketing is a new form of communication. They can be used for promoting and educating customers, engaging audiences on digital channels like Facebook or Instagram stories–even generating leads through email sequences.
There are many benefits of video marketing, but some of the most impactful include:
- Increased understanding of your product or service,
- Stay visible longer on social feeds
- Higher conversion rates, and
- Improved search engine ranking
Video is also a great way to build trust with potential customers and establish your brand identity. You can use video on your website, social media channels, and email marketing campaigns. You can also create product demonstration videos, customer testimonials, and brand awareness videos. The sky’s the limit when it comes to video marketing.
A recent study by Wyzowl found that video marketing is worth it. The company conducted research in 2022 and discovered:
- 92% of businesses feel video marketing is an important part of their strategy.
- 78% of people have watched an explainer video to learn more about a product or service.
- 55% of people watch videos online every day.
- 86% of businesses use video as a marketing tool.
And according to Forrester Research, including video in an email leads to a whopping 200-300% increase in click-through rate.
Which video type should you use to market your business?
There are many types of videos that businesses can create, but not all will be effective. Before diving into the numbers on this topic let’s take a quick look at some popular video marketing genres/ formats:
- User-generated video content
User-generated videos are exactly what they sound like: videos that are created by your users, not by your company. These can be testimonials, product reviews, how-to videos, or anything else that showcases your product or service in a positive light.
UGC videos are powerful because they come from a source that is perceived to be more trustworthy than an advertisement or commercial. When potential customers see that other people like them are using and enjoying your product, they are much more likely to take the plunge and buy it themselves.
Explainer videos are a type of video content that is used to explain a complex concept in a simple, easy-to-understand way. They are usually short (between one and two minutes long) and use visuals, such as illustrations and animations, to help explain the concept.
Explainer videos often start with a problem that the viewer is facing, and then they go on to explain how the product or service can help solve that problem. They usually end with a call to action, such as inviting the viewer to try the product or service.
Video testimonials are a type of video content that features a customer or client talking about their experience with a product or service. Testimonials can be positive or negative, but they are typically positive.
Testimonials are often used by businesses as a way to build trust and credibility with potential customers. They can also be used to show the results that a product or service can achieve.
Product / How-to video
Product videos are a type of video content that is used to showcase a product or service. They often include demonstrations of how the product works, as well as testimonials from satisfied customers. Product videos can be used on a company’s website, social media, and email to help boost sales and conversion rates.
Educational content video
Educational videos are a type of video content that is designed to teach the viewer about a particular topic. They can be used in a classroom setting, or they can be distributed online through platforms like YouTube or Vimeo.
Educational videos often use visuals, such as illustrations and animations, to help explain the concept being taught.
Short-form social media video
It’s no secret that Instagram, TikTok, and other social media sites are popular sources of video content. Short-form videos are typically under one minute in length and are designed to be consumed quickly by the viewer. They often include things like Vine videos, Snapchat stories, and Instagram stories.
If you are still on the fence about using video marketing, these statistics may push you over. Check out these five video marketing stats that will show you just how powerful this medium can be.
- 97% of marketers say that video has helped increase user understanding of their product or service. (HubSpot)
- 93% of marketers use video marketing in their overall marketing strategy.
- 66% of people cite videos as their number one source of information.
- 84% of people say they’ve been convinced to buy a product or service by watching a brand’s video (Optinmonster).
- People watch on average 16 hours of video content every week which is an increase of 52% over the last two years.
These statistics show that video is one of the most effective forms of online marketing and can have a significant impact on your bottom line. If you aren’t already using video in your marketing initiatives, now is the time to start. You’ll be glad you did.