A viral video might be all it takes to give your business a boost.
If a picture tells a thousand words, then a video expresses a lot more. Based on this trait alone, it comes as no surprise that more businesses are adopting film as a creative avenue to sell their brands.
By the same token, the format’s meteoric rise in online popularity and continuous innovation are also why videos should be recognised as the marketing tool of the future.
Broad Audiences, Great ROI
Studies suggest that over 63 per cent of B2B marketers splashed out for video marketing efforts in 2014. If anything, this money can be considered well-spent as such initiatives were reported to have a whopping 82 per cent conversion rate!
High return-on-investment (ROI) for B2B marketing aside, businesses would also be hard-pressed to admit that videos are the future with their robust audience. Figures released by multinational technology company Cisco estimate that consumer video traffic will make up 80 per cent of all internet traffic by 2019.
Businesses, both big and small, will definitely stand to profit from this trend by taking their brand messages online. Popular streaming sites, social networks, and mobile applications play an important role here, as they serve as consumer outreach platforms, which allow video uploads to serve as effective B2C marketing tools.
YouTube alone has over a billion users, with localised versions in more than 88 countries worldwide, while Facebook caters to approximately 1.65 billion active accounts. This translates into a global network of consumers that businesses can tap into via video advertisements and other digital marketing strategies.
Efficacy & Efficiency: Data-Driven Marketing through Analytic Tools
Aside from providing a sizeable audience base, online videos are widely regarded as a valuable resource for evaluating the effectiveness of a marketing program and/or campaign. Modern-day video platform services, such as Kaltura and YouTube, can help maximise engagement with their in-built SEO and analytic tools.
These tools can be infinitely useful for marketers as they provide useful information crucial for making key business decisions. The number of unique viewers within a time period, view counts and number of playbacks are not just primary determinants of a video’s popularity but are also tied to the quantity of favourable audience responses in the form of conversions and/or exposures.
The icing on the cake? Some of these resources come absolutely free. Google Analytics is one such resource as it allows users to measure results across all of their online marketing efforts (not just videos). This can be especially helpful for small businesses who desire a comprehensive analysis of their growth, minus the prohibitory cost of proprietary tools.
The Rise of New Video Technologies
Just like how there is no right answer to a business’ marketing needs, a broad range of technologies is available for use when it comes to video-making. Stop-motion animation, digital machinima, and of course, live productions are some of the options that are readily accessible to businesses and marketers.
However, two emerging fields of video technology are set to change the face of marketing campaigns. Both Virtual Reality (VR) and 360° videos have experienced an explosive growth in popularity in recent years with their revolutionary take on the visual medium. VR is being touted as a portal into another dimension with its immersive features, whereas 360° videos are gaining in popularity both on Facebook and YouTube. Marketers would do well to pay attention to these digital avenues as they are a novel option for video content distribution and advertising.
Written by: (www.script.com.sg)
Edited & Illustrated by: Script Consultants Pte Ltd