Why Video Must Become Part of Your Strategic Plan
Many consumers spend what seems like 24/7 with their mobile devices. Most admit to using their mobile device while also watching another device. (Have you ever spent your evening on the couch thumbing through Instagram while re-watching The Office for the eleventh time, or is that just me?) Anyways, most of the content we are consuming is video. Video has taken over your Facebook feed, Instagram, and more. And it’s not just teens watching YouTube; they claim to reach more people between ages 18-34 just on mobile devices than any TV network does on all devices (Source: YouTube).
With video becoming the core of media content consumed, it can be surprising how little time and budget that many marketers are spending on adding more video content into their strategic plans. Unlike the “golden age” of television, it’s not just large national brands that have the budget to invest in video. Video is more prevalent, more accessible, and more cost-efficient than ever before. The paradigm has shifted and so should your strategy.
Video Consumption Stats
So let’s dive into some staggering stats about video content consumption.
85% of adults consume content on multiple devices at the same time. (Source: Google)
More than 500 million Facebook users are watching videos on Facebook every day. (Source: Forbes)
It is projected that 82% of all IP traffic data will be video by 2022. (Source: Cisco)
85% of videos on Facebook are watched without sound. (Source: Digiday)
Video Marketing Stats
Now let’s look at a couple survey stats on the use of video as a business marketing tool.
In early 2017, 63% of businesses were using video as a marketing tool. By the start of 2018, that had risen to 81%. Now, in 2019, the number has increased again to 87%. (Source: Wyzowl)
In 2018, using video content (63% of marketers surveyed) has surpassed using blogging content (60% of surveyed) as a marketing asset. (Source: Social Media Examiner)
The Democratization of Video Distribution
In the “old world” of advertising (before the digital era), video was a high-priced commodity with only one distribution method—television. And this model of content distribution was very inefficient: produce one generalized message and blast it to the masses. Sure, you could possibly target select channels, times of day, or particular shows to advertise around, but this was still very low targeting options when it comes to segmenting and getting your content in front of the right audience.
Now, in today’s digital world, video content has been democratized. Tons of video content can be created, uploaded, and distributed to the public by anyone. Your audiences are consuming video content on tons of different platforms (YouTube, Vimeo, Facebook, Instagram, Twitter, LinkedIn, Snapchat, Netflix, Hulu, and thousands of business websites). Consumers are choosing video more and more as their preferred form of media, not just for entertainment but also to learn about a new product, service, company, or even to learn new skills.
Targeting your audience with video content is now more cost effective than ever as well. You can pump out content on all these platforms natively and reach your followers with engaging content. Also, on platforms like Facebook, Instagram, YouTube, Hulu, and LinkedIn, you can target video ads to your niche audiences with all sorts of demographic traits (location, age, gender, education levels, interests, and more). You can target by specific industries and even down to the company they work for (especially in LinkedIn). In the old model of television ads, you had to create basically one ad and blast it to everyone and hope some of your primary audience was watching. Now, you can create different ad content for each of these target niche groups to maximize your ROI!
It’s Time to Assess Your Strategy
By now, it would be surprising to find an entrepreneur or marketing professional who doesn’t see the benefit of investing in video as a core part of their content marketing strategy. But here’s a simple assessment for you: how much of your marketing budget are you investing in video content creation and distribution?
Video can be used to improve every step of the consumer’s journey—from increasing web traffic, keeping visitors on your website longer, converting them into leads or customers, and helping improve the customer experience by reducing support calls.
For many businesses, it’s time to double down on video and find ways to make video a core component of your marketing strategy. Regular, engaging video content can increase your brand equity and improve your brand perception, leading to an increase in your customer base and sales.
So let’s start a conversation about how we can jumpstart your video marketing plan with fresh and engaging content. Fill out our online form and we’ll get back in touch with you quickly!