Online Video Advertising: Does it really work and is it worth the hassle?
Gone are the days of slow buffering and poor connections. In our ever-expanding online society, videos are being watched on a daily, even hourly basis. Video is more mobile than ever and is fast becoming an integral part of our society. This accessibility has led to a huge rise in the number of businesses who implement video into their marketing strategies. Businesses now advertise their services and products through the video platform, using video to depict their products as modern, aesthetic and eye catching.
Before tackling the potential headache of changing your company’s marketing strategy some questions must be asked. To start with, does online video advertising really work? Are businesses using video marketing strategies and do they think that it’s worth it? And how should you go about creating videos for your company anyway?
In short, is video marketing worth the hassle?
Let’s start at the beginning: does video marketing really work and are businesses finding video advertising effective?
According to a recent survey of over 5,000 marketers conducted by the Content Marketing Institute, 86% of B2C businesses use general content marketing to attract and retain customers. Relating to video specifically, 76% of B2B businesses have implemented a video marketing tactic. When these businesses were asked to rate the effectiveness of video marketing, an impressive 60% gave the method 4 or 5 out of 5. This ultimately meant that videos were the third most effective marketing strategy for companies, behind in-person events and webinars/webcasts.
But why does using online video marketing work?
Video advertising is exactly that: it displays the product visually and highlights its most desirable qualities. The marketing tactic is effective because it provides the potential customer with imaginative visual and auditory stimuli. On a more general note, video also lends itself to sharing and can quickly reach a global audience with the right marketing in place.
Often, the content emotionally connects with the viewer. This is a similar strategy to that of television adverts and, as anybody could tell you, establishing an emotional connection between the viewer and the product enables an easier sale.
Not only this, the video style often plays into the business’ branding. This works twofold: repeat customers fall instinctively into their previous emotional connection with the business, and new customers quickly get an idea of what the business is about.
We have determined that a majority of businesses not only use video marketing but would also describe it as effective. We have also briefly touched on how online video connects with potential customers. The final question posed is how should you go about creating videos for your company?
There are a variety of ways to implement a video marketing strategy into your business. You could hire an in-house team, but this could be argued to put the onus on you. Often, in-house teams are somewhat limited in terms of location, video style and creative ideas. Companies like Wooshii offer a solution to this: through a single point of contact, they provide you access to tens of thousands of video makers around the world with the knowledge of which type of video will work best for your product or company. This way, a layer of worldwide video makers is added to your business and the stress of creating video is off your hands.
The speed at which customers can now access and stream online video, let alone the way in which video has been embraced by consumers, has greatly affected how businesses do business. Video is now firmly embedded in online marketing campaigns and businesses who implement the strategy effectively are reaping the rewards.