You’ve probably heard that by 2021, 82 percent of global internet traffic will come from video viewership.But, did you know that more than 500 million people are watching video on Facebook alone in a single day? Or, that video posted to social media can boost shares on a post by up to 1200 percent and 92 percent of viewers watching on mobile devices will share that video content with others?
With stats like these it makes sense that marketers who incorporate video into their marketing strategy saw a 49 percent increase in revenue when compared to those who didn’t use video.
Marketing software developer, Hubspot, can attest to the astronomical growth and return on investment developing a video marketing strategy can present. After investing in their video marketing strategy, HubSpot saw their Facebook engagement increase by 500 percent and their overall video views skyrocket from 50,000 to 1 million.
If video marketing is so amazing, then why aren’t we all doing it?
Marketers typically identify one of three reasons for avoiding video marketing: time, budget and skill.
Time
Time is one of our most precious resources. Video production may seem like a long, drawn-out process but developing video for social media channels does not have to be time intensive. Remember, the goal is not to create an Oscar award worthy film, but rather to engage your viewer and achieve your business goals. Research shows this can be done in as little as 60 seconds of video, which is the length consumers tend to prefer.
Budget
Simplicity is equally important to remember when considering your budget. The price tag for video production can be less than appealing when accounting for equipment, software, time and talent, but you don’t have to break the bank to achieve a winning video marketing strategy.
Long-term investments in video production can also significantly amplify your returns. When aligned with an existing marketing strategy, strong business objectives and detailed analytics, Forbes believes you could potentially double your ROI with a strong video marketing strategy.
Skill
While keeping video production in-house may be difficult, it can help reduce some budget woes and simple social media videos can be made rather quickly using readily available tools. Easily downloadable screen recording tools can be used to produce videos showing users how to download your newsletter or app and navigate to your contact page or blog. Stock images and videos paired with eye-catching and engaging text can be used to make a quick slideshow-type video and online applications can help you produce fun, animated shorts. Simple video marketing, particularly on social channels, is often low-skill and high-impact.
Although, in 2018, you may be a little late to the video marketing party, you still have time to catch up and reap the benefits for your business.
So, now that you’re out of excuses, what’s stopping you?
