5 Ways to Grow Your Business With Video Marketing

by Elizabeth Chen 19 December 2022

Should you pivot to video? Isn’t that expensive?

Over the years, we’ve seen the demand for video increase, while the cost of video production has decreased. Video marketing is becoming growingly popular and shows no signs of slowing down. 

Here’s something you might not know:

  • 72% of people prefer video over text when learning about a product or service.
  • People retain 95% of a message when they watch it in a video, compared to 10% when reading text. 

If you are thinking about starting video marketing, now is the time. Here are 5 reasons why you should incorporate video in your marketing strategy to grow your business. 

What is video marketing? 

Video marketing is the use of video to raise awareness, create engagement, and drive sales. It is a marketing approach that involves planning to create, curate, and utilise videos to capture the attention of target audiences. 

According to Wyzowl’s 2022 video marketing report, 86% of businesses already use video as a marketing tool and this number will only keep growing. Why? Online users love consuming video content. On almost every social platform, videos get more engagement than text or static images.  

Top 5 Reasons Why Video Marketing is Important for Business

It’s not hard to see why video marketing is so popular. Videos are engaging and easy to digest! But that’s not the only reason – videos can help you interact with your customers, grow your business and drive results. 

1. Video boosts conversions and sales 

Website & landing pages

On average, websites that use video have a conversion rate of 4.8%, compared to 2.9% for those that don’t. 

Video can showcase your products in a way that text descriptions and static images never could. Including a video on your landing page, especially at the top of your page, can boost your conversion rate by up to 86%. 

Social media 

64% of consumers purchase a product after watching social videos created by brands.

eCommerce brands, service businesses and Tech companies are moving to create organic video content across all key platforms to increase their social media presence and to also educate shoppers in the buying journey. 

Selling B2B

Recently there has been extreme growth for companies selling within the B2B space. With 70% of B2B customers watching video as part of their customer journey, and B2B marketers getting 83% more qualified leads with video content as part of their marketing funnel, it is becoming more important for companies within competitive B2B spaces to invest more into video content.

2. Video supports Email Marketing

Video goes hand-in-hand with email marketing. Getting the attention of your recipient in a crowded inbox can be difficult. Research shows that open rates can increase by 6% by simply including the term “video” in your email subject line.

More and more marketers are including video content in their email campaigns. Video can help boost engagement and enhance the effectiveness of your email campaigns. 

The ideal email copy length is 50 to 125 words – that’s not a lot. Incorporating video in your email campaigns is an effective way to showcase new products, communicate your brand culture and more, without overwhelming your audience with text. 

According to Campaign Monitor, video in email campaigns can increase open rates by 19% and click rates by 65% while reducing unsubscribe rates by 26% – that’s pretty impressive. 

3. Video can help improve SEO

Google prioritises providing the best search results to search engine users, and video content is a key part of the front page. Google prioritises websites with rich multimedia, therefore including video on your website can help improve SEO. 

Businesses that use video marketing reported a 76% increase in traffic. Although we will never know what is under the hood for Google’s algorithm, we can improve our chances of landing on the first page of the video section by:

  1. Optimising video titles, captions and descriptions for relevant search queries
  2. Creating high-quality video content: this can be achieved through applying content creation best practices

Shoppers are twice as likely to make a purchase after watching a product review video. So in response, Google has been prioritising this kind of content to help buyers with their product research. 

For each video created, you are able to include crucial links that help your prospective customers move through the buyer journey. 

4. Video is more engaging

Video content consumption is growing rapidly and has increased by 52% over the past few years, across all of the core social media channels like TikTok, YouTube, Instagram and Facebook. 

It is more important than ever to invest in video content creation, as internet users are consuming more video content than ever with a weekly average of 16 hours a week. Why? Because video is more engaging.

Video lets you tap into the emotions of your audience. Through video, you can tell a story and make an emotional connection. Customers who feel emotionally connected to the brand are twice as likely to buy the product or service. And they are four times as likely to defend that purchase after the fact.

5. Video builds trust

Video content within your marketing mix does not just include internally produced content. Externally produced content from influencers is the sole reason why influencer marketing has become so popular as a marketing channel for all digitally focused businesses. 

52% of marketers say that video helps them build trust with potential customers. Product reviews and endorsements from influencers and customer testimonial videos have been proven to provide trust to customers in the consideration and decision-making stage of the funnel.

Prospective buyers who end up on an e-commerce website are 184% likely to purchase after watching user-generated content. And users will want to see more authentic video content with real people in 2023.

Video is a great way for you to reach more people, connect with your customers and drive conversions. If you are considering adding video to your marketing strategy, we can help! Visit our website at www.rumblr.com.au, or drop us a line: hello@rumblr.com.au

by Elizabeth Chen