Types of Video marketing and reasons why it works like magic.
“Most of the traffic on the internet today is video, and that will continue to trend upward for the foreseeable future. Thus video in your marketing is a must. Today, a new potential customer will look at your site, find the video, or leave. If you want them to stick around, include some video. This is even more true on social media sites” — Warren Whitlock.
Do you know that the second most visited website in the world is a video sharing website? Your guess is right, the big O YouTube. Forbes reported that 5 billion videos are watched on YouTube every single day and about 30 million viewers visit per day. Now, Imagine your business in the middle of this figure stream.
The importance of video contents in digital marketing cannot be oversold even if you want to, it speaks for itself.
Video marketing is blowing up and anyone who is seriously passionate about promoting their businesses should consider video marketing. Especially on social media, as social media rises through the internet ranks, video marketing rises with it. It has become the most defining strategy in digital marketing. There are so many self-comprehensive psychologies behind the success of video marketing. It is not a myth, yet, some marketers are still lagging behind and find it difficult to adopt.
Video marketing is not all hats and no cow, there are few mind-blowing analysis and statistics that highlight its success. The following were reported on the sixth edition of Wyzowl’s video marketing statistics;
- 85% of businesses use video as a marketing tool, with a 2% decrease compare to the 87% in 2019 but compared to the 61% in 2016, it is a comfortable rise and success.
- 92% of marketers say it’s an important part of their marketing strategy, while 99% of them say they will continue using it.
- 87% of video marketers say video has increased traffic to their website.
- 81% of video marketers say video has helped increase the average time visitor spend on-page.
- 95% of video marketers say video has helped increase user understanding of their products and service.
- 83% of video marketers say video has helped them generate leads.
- 80% of video marketers say video has directly helped increase sales.
- 43% of video marketers say video has reduced the number of support calls they’ve received.
- 89% of video marketers say the video, in general, gives them good ROI.
- 95% of video marketers plan to increase their spending on video marketing and 59% of non-video marketers say they expect to start using video as a marketing tool in 2020.
This statistic is an eye-opener to the importance of video marketing.
There are different types of videos used in marketing but this article would discuss 5 of them, 5 types of video contents that are doing well online and can be a turning point for your business.
1. Explainer Videos:
This type of video is used to help your prospects understand why they need your products and services. This video usually takes a cliché path of telling fictional stories, you will have to narrate the problem a customer faces and how the customer overcomes the problem by adopting the company’s solution.
This type of video has a 72% rate of conversion, comfortably more than any other types of video, according to Wyzowl. 96% of people have watched an explainer video to learn more about a product or services.
2. Testimonial Videos:
In this video, you will show your prospects that your products and services can and will solve their specific problem by featuring your most satisfied and loyal customers.
This is where the saying “let somebody else blow your trumpet” comes to play.
The prospects would want to be the next person in that video, hence buy your product. A satisfied customer will always remain your best advocate and unsolicited marketer. Reach out to your customers and shoot that testimonial now.
3. Sales Video:
Simple as it sounds, this type of video basically sells. This video tells and asks your prospects to buy your product. Imagine asking your clients to buy a product while smiling at them from their screens, of course, this will be two times effective than just asking them by text copies.
The aim of this video is to categorically, with or without ceremony get the “schmoney.”
This video has its conversion rate of 42%.
4. Expert Interview Videos:
Shooting interviews with industry experts and thoughts leaders is one of the best practices of getting customers to trust your product.
In this type of video, you will seek some established and trusted authorities in your industry to share their reviews and endorsements of your products. This will normally crack open the default reluctance of a prospective because the same experts who encourage the reluctance in the first place are already in your corner urging people to go on and try your product.
This video usually goes a long way in generating leads and sales.
5. How-to Videos:
This is an instructional type of video where you show your audience ways of navigating through a particular process. You can educate them on how to solve a problem or how to use your product.
This is where you cut short the journey of your prospective and save them time and effort as they are likely to have seen the video before buying your product. And this way, your videos would have already equipped them with the necessary know-how.
There are other types of marketing videos like Demo videos, animation videos, etc.
The psychology behind the success of video marketing
As I said, there are some self-comprehensive psychologies of video marketing that are as obvious as a speeding truck. Video marketing is a cheat, it appeals to both emotion and logic. Here are a few of the reasons behind the never failed success of video marketing; If you’re ready, come with me and consume this few out of many;
1. Video build trust
A business that does not have the trust of its customers can’t thrive. The big idea behind content marketing is to build trust and long-term relationship, to sell a story they can relate with and buy, as long as people trust you they will continue to buy from you.
Video does that, video allows prospective have a close feel of the product you’re marketing. It gives them confidence, like the saying… “what you see, is what you get.”
People will trust the message more when they see Bill Gate endorsing your product in a video than when they read the same word quoted in a text. They will believe your testimonials and case studies on video than on text. Video gives some sort of assurance and that is what you should be gunning for. Always assure your customers you have the right solution to their problem when/if you truly have.
2. Video grabs attention:
The attention that other marketing strategies may likely miss, video would gather them up in a plate and have them for dinner.
The aim is to reach the targeted audience and once the video reaches them, it can’t possibly miss their attention. Once the video is good and the content is topnotch, they will be glued to their screens. Videos give your marketing a more dramatic touch, people love and are always attentive to drama, gist and gossips. They love virtual storytelling than audio or textual, hence their attentiveness.
Your targeted audience needs your products and services, the catch now is to make them buy from you. So make your video entertaining and interactive, don’t spare their attention. Make a badass video that takes it all.
3. Videos ignite emotion:
Have you ever read or heard someone’s story before and it sounded basic, but felt totally different when you watch them narrating it? If you have, then you’ve witnessed the power of visual, the power of sight. Videos can make ordinary things look extraordinary.
Videos capture all essence of emotion, from gesticulations to facial expressions, to the whole mood, and the audience can see and feel it too. And once a customer can relate with emotion from the video, once the video hits an emotional cord, that’s a customer in the bag. Videos allow you to make a direct appeal to the emotional centre of a person’s brain. Videos allow people to put a face to a concept so that they know who to hold responsible.
Remember people buy emotion and later justify their buying with logic… so stuff your video with enough amount of emotion. But not too much, you don’t want to overkill.
4. Video boosts conversion and sales rate:
No matter how you deploy video content, no matter which platform, the video will always yield. Video can really make you some good money.
87% and 80% of video marketers say video has increased traffic to their website and sales respectively. 84% of people say that they’ve been convinced to buy a product or service by watching a brand video.
5. Videos have the sentiments of SEO:
Google loves videos so much that a page with video has the potential of ranking higher. Videos can increase your search engine ranking, open rates, click-through rates and conversion.
YouTube is owned by Google, there is a very productive sentiment in that infrastructure.
Can you see it? Okay here, won’t you be happy with someone who gives your baby candy than a person who doesn’t? Exactly why a website with a YouTube linked video is much likely top a search in google.
Video is a goldmine for SEOs, just keep a properly tagged and keyword-rich video and see how it works like magic for your SEOs.
6. Video is easy to access:
The statement I really wanted to use was “everywhere you go”, there is absolutely nowhere to hide from videos on the internet. Like an obsessed lover, it is there anywhere you find yourself in the digital space.
There is countless video platform on the internet, YouTube, Facebook, TikTok, Snapchat and hosts of others. The accessibility is vast, consumers are the spoil of platforms to view from and that also leaves you with a whole lot of choices to market on. Once you know the ones your audience frequent, put your video on there and continue raking in the orders.
With a smartphone in hand, the consumer can access your video anywhere, anytime and the same goes for you too.
7. Videos encourages social shares:
People are twice likely to share video content with their friends than any other type of content. If your video is good and entertaining, consumer would share it to their friends and families. They’d want their friends and families to enjoy the same fascinating experience your video gives them.
So create educating, entertaining and engaging videos to encourage social shares.
Emotions can not exactly be converted into ROI but social shares can increase traffic to your site, and you can take it from there. Remember, once your viewers begin to share your content, they have automatically become your unsolicited marketers, goldmines, and money showers. You need to keep delivering awesome videos to market your awesome product as always.
The importance of video in marketing can’t be overemphasized. Soon video marketing will be almost all there is online. The head of forecasting at Zenith Jonathan Barnard said “the consumption of online video is growing rapidly and the average person will spend half as much time viewing online video as they spend viewing conventional TV this year. The fast-expanding supply of audiences is fueling rapid growth in demand from advertisers, making online video the fastest-growing digital channel by advertising expenditure.”
Zenith reported that people will spend 100 minutes watching online videos in 2021. And it’s even more than that in China and Sweden, estimated to be around 103 minutes per day. Cisco’s Visual Networking Index also estimates that video viewing will account for 82% of all internet traffic by 2022. Facebook has already hinted that all Facebook will be by 2022 is video.
So what are you waiting for? Make that video today.
Now, it has been categorically proven that if you are not leveraging video marketing, you are losing money. Because there is no in-between in business; if you are not making it, you are losing it.
Meanwhile, all these statistics were prior to the Corona Virus pandemic; when the world was busy with normal day-to-day activities. Things have changed.
According to Daily Mail UK, an estimated 3.9 billion people have been ordered to remain at home as governments take extreme measures to tackle the novel virus; schools are shutting down, people now work from home, no large social gathering. Social distancing, self-isolation and quarantine has relieved the world of busy schedules, we now have enough free time and flexibility.
So think about it from this angle, Is there any good in this bad for digital marketing?
Yes, there is.
What can video marketing get in this time? The answer is “limitless”. The potential of digital marketing in this period is on the pedestal. If a man can stay 60 minutes on YouTube before the pandemic, how much longer can he stay now?
Every day, since lockdown, there have been new video challenges on social media, carrying different hashtags. People are self-curating video contents to keep them busy and entertained. Smart Video marketers will jump on this, either creating engaging video challenges or jumping on the existing ones, directly or indirectly marketing their products and services.
It is an idea that you should consider, make that video introducing your brand, or products in a very creative, entertaining, and no selling way.
Employ everything that has been stated above and see how your business will witness a huge turnaround.