Start-ups and small businesses face fierce and direct competition from big giants. It has become more difficult than ever before to capture the attention of potential customers even if you have a unique idea. So what can you do? Go where your customers are! Your business success hinges on producing the right video content to differentiate your brand.
Today, people prefer to consumer video and spend one-third of their online time watching videos. So whether you are an eCommerce store, IT company or a heavy equipment manufacturer, video marketing is the answer to all of your business growth goals.
Video marketing has been around for a while. In fact, 2016 has been called the year of video. Every business, from entrepreneurs to large enterprises, is now incorporating videos in their marketing plan with the purpose of educating customers, promoting products or services, for branding, and much more.
Read on to learn about how visual marketing can help you boost your business.
A recent study has found that over 74% of viewers who watched an explainer video ended up buying the product. Videos have the power to showcase your product or service in a way that images cannot. Video is a compelling to tell your product features and convince people to buy it. Another survey revealed that 76 percent of marketers say video has helped them increase sales.
Success Story: Blendtec
Blendtec started a video series “Will It Blend” and increased their sales five times. They started producing videos in which they showed blending of iPhones, golf balls and more in their kitchen blenders and increased sales for a fraction of the costs.
Moral of the story: Leverage videos to show people how good your products are and how it can help them in their daily activities. You will see an increase in website or social media traffic and increase in conversion rates.
Video marketing is an interactive content marketing tool. 82% of businesses already use video content as part of their marketing strategy with high level of success. A professional looking video not only helps your brand to tell a compelling story but also showcase your products or services and their key features and benefits in an amazing way.
Videos work exceptionally well to drive contextual, organic traffic to your site. They engage with the video content and spend more time on your site. Increase in organic traffic results in higher ranking on the search engines, thereby driving more and more potential customers to your website. However, make sure to optimize the video content for mobile users.
Success Story: The Home Depot
The Home Depot is an eCommerce store that supplies construction products, tools, furniture, kitchen remodeling, appliances and more. The company saw a solid growth in site traffic with video. It created “How to,” “Tips for DIY projects” and decorating ideas to attract more visitors to its site, and finally became successful in driving the traffic to its various product categories.
Moral of the story: Do not promote your products directly, but use videos to tell people about the potential uses and benefits of your products. Such videos will keep customers longer at your site and drive sales.
Customers are demanding and they want their issues to be resolved quickly. Their expectations are high and constantly change. They judge a company based on their quality of customer service.This is why your service team needs to include video marketing to provide the best possible experience to demanding customers.
Your customer services should focus on three key areas to increase customer satisfaction including customer engagement, troubleshooting and knowledge management. Instead of emailing them back and forth, send them personalized videos. Videos can help your brand engage customers in the process of solving their problems and educating them.
Success Story: Deutsche Bank
Deutsche Bank is a global provider of financial solutions to individuals, institutions, and corporates. The bank knows how to help its customers through videos and build trust and loyalty among potential and existing users.
It posts videos on its YouTube channel related to how to transfer money or carry out other banking transactions securely and also gives advice to customers on its products to create transparency. This video strategy has helped the bank to increase its retention rate and acquisition ratio.
Moral of the story: Videos as part of the customer support strategy helps your customers to know that you understand their problems and are willing to help them in every possible way. This will reduce the number of support queries and save you money on customer services team.
Strong customer engagement means higher conversion, increase in retention rate, and a lower churn rate. Lower customer engagement his creates huge revenue losses for a company when a customer is not fully engaged. But the biggest problem is that there are plenty of companies out there that don’t know how to leverage videos to increase customer engagement.
Social videos are the best answer to this problem. Customers today are visual learners and love to use social media. You can create fun and engaging short-form videos to deliver an awesome customer experience.
Success Story: Oreo
Oreo needs no introduction. We looked at Oreo’s use of social media channels and will tell you how your business can learn from the company’ video activities. They shoot short teaser videos about a new product they are releasing or a big event or something funny to engage with the customers.
Oreo’s social videos have good design and simplicity. These videos are designed to be highly shareable, and each of their video gets 400-500 tweets or comments.
Moral of the story: Plan out your video strategy and ensure to have a great designer in your team to make your ideas into a reality just like Oreo.
Get Excellent ROI
Video marketing does not need a big budget. A good smartphone and planning would you help you get higher return on investment. Customers do not expect high-level production quality videos but one that they can view on their smartphones easily and the videos should help them, educate them, and engage them with the brand.
A well-designed video can lead to significant financial payoff in the form of more views, more shares, more clicks, and ultimately more sales.
Success Story: Tech Data Corporation
Tech Data Corp is a multinational distribution company specializing in IT products and services. Videos play a starring role in the company’s growth. They have incorporated videos in marketing, sales, and customer service programs, and seeing tremendous success in all fields.
Moral of the story: Leverage videos extensively across all your digital, demand generation, social media and other marketing communication channels to get higher ROI.
Conclusion
Video is an ultimate marketing tool in today’s contemporary business world. It is engaging, effective, and more importantly affordable. Now that you know the power of video marketing, it is important to plan your strategy that suits your brand image.
Partner with a video marketing company to leverage the expertise and technology of their professionals and create a history like the companies we have mentioned above.
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