There are some persuasive stats about web video keeping brands ahead: 70% of marketing professionals report that video converts better than any other marketing medium. Internet users have been measured spending 88% more time on websites that have video. Using the word video in the subject line of a promotional email boosts opening rates by 19%, click through rates by 65% and reduces unsubscribe rates by 26%. Consumers are 64% more likely to buy a product or service after watching a video about it…
2016 is the year marketers have begun to realise that video is essential. But companies haven’t all caught up yet, only 24% of brands are currently using online video to market to customers.
24% means that if you want a competitive edge all you need is to be in the quarter of brands utilising video and doing it well, and you will be ahead.
Interestingly the brands who are using video are marked out by their foresight and inventiveness but not by size of company or marketing spend. Both large and small brands are using video with great results and count themselves in that 24%.
For example McDonald’s – who mastered TV commercials early and reaped the profits of driving their brand in that medium – have invested in online video, in-store video and internal video for training and development. Gempacked have used marketing video that shows how to use components they sell for jewellery making with great success without seeming to be advertising at all.
At the other end of the spectrum small business owners at the forefront are getting canny about how to use video cleverly to market online. Small businesses using slick yet quirky, unassuming videos that connect viewers with the story of the brand and the community of people behind and around that brand are having astonishing successes.
Marketers who are at the top of their game are changing their process from planning a marketing campaign and getting video made for it, to reaching for really great brand ideas and identities, making great video to support that and planning a marketing campaign around the videos.
If you want ROI from your marketing the evidence shows you need to make sure you join the 24% and partner with good creatives to make video work for your brand.
If you are based in Sydney or wider Australia and would like more information about filmstretch’s set price video packages click here.
Photo by Jenn Vargas on Flickr and used here with Creative Commons license.