READING TIME: 3 MINUTES
I spoke about the relevance and future of video content marketing at the 43rd „APA Digitaldialog“ on October 25. In this post I want to present you my 4 reasons why to allocate some budget for video. Read this article and you’ll get substantial arguments for an increased video budget.
Whenever a year is drawing to an end, one question arises in the heads of many marketing responsibles: How much of the marketing budget should be allocated for which marketing tactic. In times where video content marketing is much more than an “up-and-coming” marketing tool, it seems obvious to increase spendings. And it’s worth it. Read the following article and understand why.
Reason 1: Video content marketing drives business results
I want to refer to some facts of an info graphic from HubSpot:
- – A video in a newsletter leads to 200-300 percent increase in click-through rate
- – The conversion rate of a landing page increases by 80% because of implementing a video
- – Users who watched a video are 64% more likely to buy a product online
- – 90 percent of users claim that watching a product video is helpful in the decision process
Toping these facts off, let’s quote Cisco, who states that 82% of all web traffic will be video by 2020. No question, the importance of video content marketing is continously increasing.
Reason 2: Videos dominate social networks
Do you still remember the days, when you skimmed through your Facebook time feed, looking for the latest and most interesting photos posted by your friends and love brands? Well, these days are gone. Where once photos were, are now videos – it’s as simple as that. The iconic turn seems to be in a phase, where everything’s shifting to moving image. Videos on Facebook for example generate more than 8 billion views per month. Even on Instagram this trend becomes noticeable – above all, because the social network increased its maximum video length from 30 seconds to one minute. The continues move to video in social media marketing is also related to excellent engagement statistics. The content marketing video below is an impressive example, how the New York Times uses video in social media to drive user engagement.
Reason 3: Creating videos is not as expensive as you think
There are two key factors, why generating video content becomes more and more simple. For one thing technological progress is constantly pushing back technical limits (with the latest smartphone generations it’s even possible to record 4K videos). And for another thing “there is a strong trend towards rough videos with live character”, says Alexis Johann, Managing Director of Styria digital one, at the 43rd „APA Digitaldialog“. This fact is for instance proved by the recent video ad campaign of Facebook, which will be broadcasted all over the world. Have a look at the two examples below and keep in mind that this company has a tremendous ad budget. It’s fascinating that they decided not to choose high-polish videos for advertising.
The reason for this trend is that young audiences, especially millennials, are looking for authentic content without compromises. An article published by the Huffington Post states: “Only about 1% of millennials claim that a compelling ad influences them”.
Moreover it’s highly interesting that vertical video seems to become the standard video format for mobile. Only two years ago, vertical video was considered as an absolute no-go in the film business.
But how does all that influence production costs for videos?
Today’s ongoing technological progress combined with sinking quality standards in video production leads to lower barriers for businesses with small marketing budgets. It’s important however to not compromise on the narrative quality of a story. A great storyline is the fundament of each video – for a step-by-step guide for brand storytelling, click here.
Reason 4: A video is worth a thousand pictures
According to Dr. James McQuivey (Forrester) one minute of video is equal to 1.8 million words. Fascinating, isn’t it? Although this comparison seems to be unbelievable at first sight, Dr. McQuivey is definitely right: Video is the most substantial and efficient content type when it comes to communicating things, you can’t explain by using words. An example: Imagine a text, which wants to describe a customer’s face filled with joy, because your company solved a long existing problem for him. Difficult right? A video-based customer success story instead, is the perfect way to show your clients emotions in an authentic way and to share them with your community – so show, don’t tell and pay more attention to video content marketing
2015 Jeremy Tai Abbett, Creative Evangelist at Google, predicted: “In future everything’s gonna be video”. And obviously he’s right.
— Max Sommer (@MaxSomm) 8. Mai 2015
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PS: If you are interested in another good read concerning video, have a look at this post. Gregor, a colleague from COS15, wrote (in German) about how to improve fundraising with video content.