Video is the new darling of the internet. Or perhaps not so new – as it’s been around for years.
But as the favourite visual medium above all others – its time has now come.
Recent changes in the past few years in delivery mechanisms (broadband, mobile networks and even satellite) have made video streaming an everyday ‘norm’. And video demand will only continue to increase as these delivery services improve.
Fibre broadband is now everywhere – so-called superfast fibre is fast on its heels, and as for mobile – we are currently seeing the roll-out of 5G across many countries which offers speeds of around of 20 times faster than the current 4G service.
The question remains, however, whether video offers a good ROI.
To answer, you’d be best doing the maths yourself, as every business is different, but for that, you will need some numbers to begin with. All you need is to know how well your business is doing now, and then apply the following percentages.
Our job here is to give you enough information so that you can calculate for yourself whether video is a marketing tool will help your business.
Video marketing – the attraction factor
So to begin with – will using video as a part of your marketing strategy help bring people to your website or eCommerce store?
Well, there are a couple of stats to look at here.
Social media (we will assume you are utilising at least this amazing marketing tool) loves video content. Social video generates 1200% more shares than text and images combined, although it is important to recognise that quality matters.
The study also suggests that 62% of consumers are more likely to have a negative perception of a brand that publishes poor-quality video content, so your video content needs to be professional, not something thrown together on a smartphone.
And the demand for video content is increasing; 54% of consumers say they want more of it from a business they support, whilst marketers get 66% more qualified leads per year from using video.
Video marketing – the Google factor
Google ranking has one of the largest impacts on business success, simply because for a huge majority of customers, it is the gateway to your eCommerce site.
Google defines who finds you.
Recent studies have shown that video drives a 157% increase in organic traffic from SERPs.
What is more, if you are currently working hard on your ranking and are slowly getting towards the coveted first-page spot, keep in mind that your website is 53% more likely to appear on the first page of results from a Google search if you have a video on the landing page.
Meanwhile, in a survey just last year, 87% of marketing professionals said they use video as a marketing tool because they can see the results and know it is cost-effective.
Video marketing – the sales factor
There are a host of facts and figures floating around in the above sections, but they all go to demonstrate one thing – video leads to increased sales.
A consumer who views a product video is up to 144% more likely to add that product to their cart than a consumer who watches no video.
And increased sales (crunch the numbers for your own business) leads a majority of marketers to realise that the ROI of video makes it very much worth it.
Marketers who use video grow revenue 49% faster year-on-year than their competitors who don’t.
One final word on sales – video on a landing page can increase conversions by 80% or more.
Video marketing – the final analysis
If you are not already convinced yourself that video is no longer a luxury but an essential part of your online marketing strategy, then take a deeper look at why you need to market with video today.
After that, only one question remains – if video is so cost-effective, then why isn’t everyone doing it?
The reason, it turns out, involves a couple more numbers – 20% of non-video marketers say they don’t use video for marketing as they feel it is too expensive.
The same report also says that 17% of them don’t use video for marketing as they don’t know where to start.
Well if you fall into either one of those groups – we have good news!
Video is no longer outside of your budget – whatever it is. High-quality video production no longer means high-priced!
Rather than scale pricing as your order size increases, Splento has scaled their entire video production process instead, so that lower prices are available for everyone – regardless of the size of the order or length of video you require.
We produce your fully edited video within 48 hours (guaranteed), and all for a fixed rate of just £149 ($299) per hour, which means we can guarantee our services will fit your budget too.
What is still true, however, is that a poorly made video will do your company more harm than good, so wherever you go, find a visual media company you can trust, with a track record and a portfolio you can see for yourself.
We hope you found this article useful – and when you stop, and start to think about it, you too will realise that video marketing will help your business.
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