Tuesday, 7 October 2014

Enhancing business through video promotion

Video marketing is increasing in its relevancy and value as the most effective content marketing tool. No wonder why marketers from brands across the world have included it in their digital marketing mix.

The factors that have led to the ascendancy of video as a marketing tool are numerous. The following statistics justify its popularity with marketers:

·        Videos enjoy a wide audience reach. Youtube alone has over 1 billion unique visitors each month.
  •       Viewers watch more than 4 billion hours of video every month on Youtube.
  •       About 92% of online video viewers share exciting ones with their friends.
  •            52% of consumers revealed that videos influence their online purchase decisions.
  •           It is projected that video will account for 69% of all internet traffic in 2017.
  •            The virality potential of videos is high. For example 3 VW marketing videos had a combined viewership of 155 million.
  •             If one picture paints a 1000 words then 1 minute of video is worth 1.8 million words.
  •            72% of marketers agree that video has a better conversion rate than any other content format.

Why is video marketing important?

The above statistics confirm that videos widen the reach of a marketing message and enhances a company’s engagement with its customers. These are very critical business success factors.

The videos can be uploaded onto the company’s website or external hosting platforms like Youtube, Vimeo and Yookos. A video that sits on a company’s website increases the time that users stay on the site and also helps in its ranking from an SEO perspective.

Distributing the video onto external platforms improves the visibility of the brand and builds its reputation.

The importance of strategy

However, a key determinant of a video’s popularity and effectiveness is the extent to which its creators match their audience’s passion points with creative and compelling content. 

Video marketing seeks to satisfy the informational and entertainment needs of the targeted audience whilst meeting business goals at the same time.

Just like with any other marketing campaign, strategy is key to success. According to one expert “first define a strategically relevant and powerful content territory for your brand. 

This should like at the intersection of your audience’s passion and your value proposition. What unique content can your brand bring to your consumers to earn their loyalty?”

What are the elements of a good video marketing strategy?

A result-oriented video marketing strategy should include the following elements:

·        Business goals: The video marketing campaign should help in the achievement of the company’s goals.

·        Target audience: This should be clearly defined and its psychographics factored in the creation of the video. This will improve the chances of emotional connectivity.

·        Promotional strategy: How will be the video be promoted both online and offline.

·        Video must match business goals: What are the business goals of the video? Is it educational, brand awareness, downloads of an app or purely informational?

Lack of a clear strategy leads to the failure of a campaign or a viral video that has no direction.

A properly executed video marketing campaign will ultimately lead to:

  •         High brand awareness
  •         Improved brand reputation
  •         Increased conversions
  •        Greater sales
  •         Enhanced product knowledge

Marketers should incorporate video in their digital marketing mix as it is the best marketing tool. The results of effective video marketing campaigns speak for themselves.

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