Video is having a moment. Zoom sessions have replaced conference calls. Musicians get their big breaks on TikTok instead of over the radio airwaves. And more screens are streaming YouTube videos than network programming.
No matter what product or service you offer or who you offer it to, it’s highly probable that your target audience watches video in some shape or form. So if you want to capture their interest and attention, you’re more likely to do it through a video platform than a TV commercial, radio spot, or newspaper ad. If you haven’t done it yet, there’s no better time to add video production to your business marketing repertoire.
Not convinced? The following facts drawn from statistics in Wyzowl’s new report The State of Video Marketing 2021 might change your mind.
1. Everyone else is doing it
Yes, we’ve all been warned that this is a terrible reason to join in (something about jumping off a bridge, as I recall). But when it comes to video marketing, the “everyone else” in the statement aren’t your childhood friends — they’re your business competitors. According to the Wyzowl report, 86% of businesses are already using video as a marketing tool — that’s a 41% increase since 2016. If you’re among the 14% of businesses not utilizing video to reach your potential customers, it’s time to join the bandwagon.
2. It works
We can learn a lot from trial and error, but in business, every error costs money. The ultimate goal of advertising is to generate revenue, right? Well, video generates interest, which in turn leads to more sales, which ultimately results in increased revenue. Just look at these stats from Wyzowl:
- 86% of video marketers say video increased traffic to their website.
- 78% say video has directly helped to increase sales.
- 84% say video helped them generate leads.
- 87% say video, in general, gives them a good return on their investment.
3. It supplements sales and support
How many calls, comments, or chats do you field with questions about your product or service? What if there was a way to demonstrate how your product works or show people how your service can help them without direct contact with a sales representative or customer service person?
Guess what — there is a way, and it’s video. Do you sell cosmetics? In 2020, YouTube views of beauty tutorial videos increased nearly 50% per Hootsuite. Do you teach yoga? Last year saw a 215% increase in daily uploads of videos related to self-care. If it’s possible to demonstrate how your product works or services operate, how you can solve a problem, or how you can improve someone’s life, showing that in a video will have a larger impact than a phone call.
Wyzowl reports that an incredible 94% of video marketers say video has helped increase user understanding of their product or service, and 43% say it has decreased the number of support calls they receive.
4. It’s the best way to tell your story
Another old adage is “seeing is believing.” Seeing your product or service, your team members, and your company’s personality firsthand, with their own eyes, helps your audience understand, get to know, and hopefully believe in your brand. Plus, there are so many different types of video and places to share it that you have plenty of opportunities to be as creative as you’d like. Here are just a few options:
- YouTube videos — 87% of business marketers are using YouTube for explainer, promotional, and other types of video, and 87% of those reported it was effective.
- Webinars — hosting webinars (either live or recorded) was successful for 91% of marketers who tried it in 2020.
- Facebook/LinkedIn/Instagram videos — After YouTube, these three platforms are the most popular for business marketers.
5. It’s easier than you think
Respondents to the Wyzowl survey who said they don’t use video cited a variety of reasons:
- 17% don’t know where to start.
- 17% think it’s too expensive.
- 16% say they don’t have time.
The good news is, producing video for your brand doesn’t necessarily have to be complicated, costly, or time-consuming. In fact, you can create amazing and professional-looking video with no filming experience using your mobile device … and our next blog post will show you how.