Video is one of the most powerful and effective marketing tools available for businesses today. It can help you communicate your message clearly, engage your audience, attract mobile users, improve your email marketing campaigns, increase your return on investment, boost your conversion and sales, and more. Here are some video marketing statistics that show why you should use video for your business, and some examples of different types of videos that you can create for various purposes.
Video Increases Brand Awareness and Traffic
According to a survey by Wyzowl, 86% of businesses use video as a marketing tool, and 92% of them consider it an important part of their marketing strategy. Video can help you showcase your brand personality, values, and products in a captivating way that attracts attention and builds trust.
Video can also drive more traffic to your website and social media platforms. According to Renderforest, 78% of businesses agree that video increases traffic, and 83% of video marketers say that video helps them generate leads. Video can also improve your SEO ranking, as Google favors websites that have video content. According to Cisco, online videos will make up more than 82% of all consumer internet traffic by 2022, so you don’t want to miss out on this opportunity.
One type of video that can help you increase brand awareness and traffic is an explainer video. This is a short video that explains what your product or service does and why it brings value to your customers. It usually addresses a problem that your customers have and shows how your solution can solve it. Explainer videos are good for the early discovery stages of the buyer’s journey, when potential customers are looking for information and answers.
For example, Frame.io, the cloud-based video collaboration platform, created an explainer video to show how their product works and how it can help video professionals streamline their workflow.
Video Boosts Conversion and Sales
One of the main goals of any business is to increase sales and revenue. Video can help you achieve that by showcasing the benefits and features of your products or services, demonstrating how they work, answering common questions, and providing social proof. According to Wyzowl, 84% of people say that they’ve been convinced to buy a product or service by watching a brand’s video.
Video can also increase your conversion rate on your website or landing pages. According to Renderforest, 44% of people are more likely to buy a product after watching a video about it. According to HubSpot, adding a video to your landing page can boost conversions by up to 80%.
One type of video that can help you boost conversion and sales is a product video. This is a video that shows your product’s features and benefits in action, often with examples or testimonials from real customers. Product videos are good for the consideration and decision stages of the buyer’s journey, when potential customers are comparing different options and looking for reasons to buy.
For example, Dollar Shave Club, the subscription-based razor company, created a product video that went viral and helped them grow their customer base exponentially. The video was humorous, engaging, and informative, showing how their product works and why it’s better than the alternatives.
Video Engages Mobile Users and Social Media Users
Video is the perfect format for mobile users, who are constantly on the go and prefer short and snackable content. According to Elite Content Marketer, 66% of people would rather watch a short video about a product or service than read a text. According to Statista, 85% of all internet users in the United States watched online video content monthly on any of their devices in 2020.
Video is also the most popular and shareable type of content on social media platforms, such as Facebook, Instagram, YouTube, TikTok, and LinkedIn. According to HubSpot, 91% of marketers said that video has become an important tool for businesses and brands during the pandemic. According to Wyzowl, 93% of marketers say they’ve landed a new customer thanks to a video on social media.
One type of video that can help you engage mobile users and social media users is a promo video. This is a short video that creates hype or excitement around your product or service, often with catchy music, visuals, and text. Promo videos are good for the awareness stage of the buyer’s journey, when potential customers are looking for something new and interesting.
For example, Spotify created a promo video to announce their Wrapped feature, which shows users their personalized music statistics for the year.
Video Improves Email Marketing and Customer Retention
Email marketing is still one of the most effective ways to communicate with your existing customers and prospects. However, with so many emails flooding people’s inboxes every day, it can be hard to stand out and get your message across. Video can help you improve your email marketing performance by increasing your open rates, click-through rates, and conversions. According to Wyzowl, 87% of video marketers say that video has increased traffic to their website, and 80% say that video has directly helped increase sales.
Video can also help you retain your customers and reduce churn. According to HubSpot, 51% of marketing professionals worldwide name video as the type of content with the best ROI. Video can help you educate your customers on how to use your product or service, provide them with tips and tricks, update them on new features or changes, and show them that you care about their feedback and satisfaction.
One type of video that can help you improve your email marketing and customer retention is an onboarding video. This is a video that welcomes new customers or subscribers and guides them through the first steps of using your product or service. Onboarding videos are good for the post-purchase stage of the buyer’s journey, when customers need support and reassurance that they made the right choice.
For example, Headspace, the meditation app, created an onboarding video that explains how their app works and what benefits it can bring to users.
Video Enhances Internal Training and Communication
Video is not only useful for external marketing purposes, but also for internal training and communication within your organization. Video can help you deliver consistent and engaging training materials to your employees, regardless of their location or time zone. Video can also help you communicate important messages or updates to your team members in a more personal and effective way.
According to Wyzowl, 94% of video marketers say that video has helped increase user understanding of their product or service, and 43% say that video has reduced the number of support calls they receive. Video can also help you save time and money on training costs, as you can reuse and update your videos as needed.
One type of video that can help you enhance your internal training and communication is a training video. This is a video that teaches your employees a specific skill or procedure related to their job role. Training videos are good for improving employee performance, productivity, and retention.
For example, Slack, the collaboration platform, created a training video that shows how to use their app for remote work.
Video Improves Your Website Performance and SEO
Video can also help you improve your website performance and SEO by increasing the time spent on your site, reducing the bounce rate, and providing more value to your visitors. According to Wyzowl, 88% of video marketers say that video gives them a positive ROI, and 94% say that video has helped increase user understanding of their product or service.
Video can also help you rank higher on Google and other search engines, as they value video content and prioritize websites that have it. According to SmartBug Media, Google cares about video because it provides a rich and engaging experience for users, and it often answers their queries better than text alone. Video can also help you rank for more keywords, as you can optimize your video title, description, tags, and transcript for relevant terms.
One type of video that can help you improve your website performance and SEO is a testimonial video. This is a video that features your happy customers or clients sharing their positive experiences with your product or service. Testimonial videos are good for building trust and credibility with your website visitors, and for encouraging them to take action.
For example, Shopify, the e-commerce platform, created a testimonial video that features a successful entrepreneur who uses their service.
Video Follows the Latest Trends and Best Practices
Finally, video can help you stay ahead of the curve and follow the latest trends and best practices in digital marketing. Video is constantly evolving and adapting to new technologies, platforms, formats, and audiences. By using video for your business, you can show that you are innovative and up-to-date with what’s happening in your industry and in the world.
According to Wave.video, some of the top video marketing trends to watch out for in 2023 are:
- Short-form videos: Videos that are 60 seconds or less, often vertical and optimized for mobile devices. Platforms such as TikTok, Instagram Reels, and YouTube Shorts have popularized this format, which is ideal for capturing attention and creating viral content.
- User-generated content: Videos that are created by your customers or fans, often featuring your product or service in action. User-generated content is authentic, relatable, and trustworthy, and can help you increase your brand awareness and loyalty.
- Interactive videos: Videos that allow viewers to interact with them in some way, such as clicking on buttons, choosing options, answering questions, or playing games. Interactive videos are engaging, immersive, and personalized, and can help you increase your conversion and retention rates.
- Silent videos: Videos that can be watched without sound, often with subtitles or captions. Silent videos are convenient for viewers who are in noisy or quiet environments, or who prefer to read rather than listen. Silent videos are also more accessible for people who are deaf or hard of hearing.
- Product videos: Videos that showcase your product’s features and benefits in action, often with examples or testimonials from real customers. Product videos are effective for increasing sales and conversions, as they show how your product works and why it’s better than the alternatives.
One type of video that follows the latest trends and best practices is a live video. This is a video that is broadcasted in real time on platforms such as Facebook Live, Instagram Live, YouTube Live, or LinkedIn Live. Live videos are spontaneous, authentic, and allows you to connect with your audience in real time. Live videos are good for creating a sense of urgency and exclusivity, and for generating feedback and engagement.
Conclusion
Video is a must-have for any business that wants to thrive in the digital age. Video can help you communicate your message effectively, attract and engage your audience, and increase your sales and revenue. It can also help you stand out from the competition and keep up with the latest trends and best practices in digital marketing.
If you want to leverage the power of video for your business, you need to create high-quality and relevant videos that provide value to your customers and prospects. You also need to distribute your videos on the right platforms and channels, and measure their performance and impact. By doing so, you can take your business to the next level with video.