Why Video Is The Star Of Your Small Business
As a small business, marketing has to involve a series of clever approaches. After all, you don’t have money to burn so there’s a need to get the greatest return possible on your efforts.
Marketing in the digital era is different than before. Previously, marketing was always usually done in print or via TV and radio broadcast that proved to be prohibitively expensive for all but the largest companies. However, nowadays, it involves a multitude of types of media with much lower costs that have given access to an audience of millions of internet users to even the smallest of enterprises.
One of these new mediums is online video that is currently one of the most effective marketing techniques at our disposal. Video marketing is very effective at generating results. This has led to some surveys suggesting that over 90% of all B2B marketers use it as part of their overall marketing strategy.
But what kind of difference could it make to your small business, and why is it so effective? We will discuss some of these reasons below.
Better Conversion Rates
Compared to text only forms of marketing, video has a much higher conversion rate. The general increase is in the region of 65% with video representing a conversion rate of 4.6% compared to 2.9% for those websites that fail to use it.
The simple fact is, those who view online video are much more engaged in advertising messages than the average TV viewer. This is because you can finally tailor you message to your key demographic, using website cookies and other techniques, so only customers you know will convert sill see your advert.
Lower Spending Rates From Less Visitors
On average, a website that fails to use video has to spend $115 in order to generate a single lead. However, for those websites that use video marketing, that average spend drops to $93 and that is a substantial saving on a per lead basis.
At the same time, the use of video means a website needs 37% less visitors to achieve the same as those websites that don’t use video marketing. In other words, you won’t have to work so hard to generate the same revenue.
People Are More Likely To Engage
What you are aiming for with marketing is to encourage people to engage with you in some way. Video marketing makes that process easier with companies reporting an increase in engagement rates of up to 65%. This is true for any business, including Wellington’s Fine Leather Furniture.
If you compare it to other forms of marketing, then video is way out in front. The average engagement rate is 16.85% which may not sound much, but compare it to mobile ads at 1.62% and other website ads at 2.14% and you then see how good it is.
Shoppers Prefer Visuals
It has been shown on numerous occasions that shoppers are swayed by visuals rather than text alone. The more detailed the visual, then the better they feel and that is why video is such a good idea.
In fact, over 90% of shoppers state that the visual side of things plays an important role in their decision-making process. Also, they are almost twice as likely to actually buy something compared to other forms of advertising when dealing with an e-commerce website.
It Builds Brand Awareness
No matter the size of your business, you must be capable of building brand awareness. The good thing about video is that people are more likely to share it with others. This is especially true on mobile devices.
One study shows that 92% of people that access the Internet via their phone are likely to then share videos to others. This is huge as it means your brand is being shared without you doing anything. This then allows you to focus on other areas knowing your brand is on the move.
Google Loves It
When I say that Google loves video, I mean their SEO algorithms love it. This is partly because of Google owning YouTube, but it’s believed that your chances of being on that coveted page one will increase by more than 50 times because of video.
Also, video attracts links, and Google loves links as that too boosts your SEO. If people like what you do and share it on social media or anywhere else, then this too will help you with Google.
You Have Better Analytics
Being able to analyze a marketing campaign is key to you understanding what works for you or against you. However, it’s harder to determine this from most marketing campaigns. But in this instance, video makes sure it stands out from the crowd.
You can see not only how many people have accessed it, but also how long it had been viewed as an average. By being aware of the dropping off point, it tells you when people got to the part they saw as being most relevant. This means you can tweak and change your strategy as required. This is something which, with other media platforms, you may find hard to do.
These are some of the main reasons as to why you need to give some serious consideration to video marketing for your small business. It needn’t be expensive, and yet the positive influence it can have will outweigh the cost. When so many video marketers are using it as a tool, then are you safe enough in your income to ignore using it as a marketing source?
The decision belongs to you.