As a small business owner, the amount of time you have in a day is very limited. Having to wear so many hats (sales, marketing, finance, HR, the list goes on and on) can get exhausting! Let's not forget that you still need to make time for family, friends and a little bit of self care. With that being said, you need to make sure that each hour you put into your business, counts. So, is video marketing something you need to spend your time and money on?
Here are some stats to help you decide.
1. I had to start this off with a good one! A massive 73% of visitors who watch product videos will make a purchase. Meaning your products are much more likely to sell if you create videos for them. Think about it, when you think about ads, most of us think about the incredible ads we see on TV (I.E. the annual Coke-Cola christmas ad). Companies pour 1000s (sometimes millions) of pounds into producing content that will remain in the viewers mind for years to come.
2. Could you have guessed that a whopping 92% of marketers who use video say it's an important part of their marketing strategy? And this percentage is only on the rise as it was 78% in 2015. In fact, over half of marketers invest in some sort of product-related video.
3. 71% of consumers prefer video over other marketing content. It makes sense when you think about it, I'd rather watch The Real Housewives of New Jersey star Teresa throw a table over someone than see a picture of it! The more a person can visualise something, the easier it is to convince them they need it in their lives.
4. If your target audience were born between the mid-to-late 1990s to the early 2010s then you'll be interested in this stat. 87% of Gen Z favour branded videos or ads that show someone talking about a product. Generally, people in this age group will research products, look for video-based ads, demos, tutorials, unboxings, and video reviews from influencers in order to see how well the product works and what it looks like in real life.
5. Finally, 55% of consumers use videos for purchase decisions. Consumers in their 20s and 30s rely on videos a lot more but, that does not mean the rest of the general population do not. Over half of people in all age groups use video to make a purchasing decision. So what does this mean for you?
Should you spend all of your profit on a glossy new video ad?
At the end of the day, it's hard to argue with the evidence; authentic videos can lead to a greater sense of trust for potential buyers. Whether you are an ecommerce company or a SAAS, a video shows your customer your offering in a completely new way and could make the difference between a sale and an abandoned cart. You can create anything from a simple tutorial that demonstrates your product or service to a sleek promotional ad.
At the end of the day, video is the number one content type used by marketers to sell products and services. All those professionals can't be wrong!
Remember, you do not alway need to break the bank to get great quality content. Affordable Web Design offers an incredible video production package at an extremely low price point. View the details here.