Why Video is Important for Business
Updated: May 2
Why is video production the most essential marketing tool for businesses in 2022?
Since the Covid-19 pandemic video consumption has increased rapidly! An estimated 78% of people worldwide are watching content online weekly and 55% of those people are consuming some kind video content daily. In these uncertain times, this marketing tool has proven to be a commodity worth its weight in gold.
Businesses that have not yet included video as a part of their marketing strategy have a dire need to reevaluate and strategize to include this medium as soon as possible. As of 2022, it dominates consumer internet traffic making up more than 82% of what is consumed online. That is 15% higher than in 2017.
Overall in the last three years, consumers have increased their viewership by a staggering 96%. One-Third of an individual’s time spent on the internet is spent watching content and that’s not just the time spent watching tik toks, favorite esports streamers, or other sources of entertainment. 9 out of 10 people have confirmed that they prefer and are eager to learn about products and services they are interested in through video.
Video has become perhaps the most essential marketing tool in this day and age. YouTube alone draws in 2 billion viewers each month. These viewers, on average, view an average of 5 billion videos each day. Globally, 40% of shoppers have purchased products or services they discovered on YouTube.
This isn’t surprising considering viewers pay twice as much attention to what they watch on YouTube compared to watching television. YouTube is just one resource businesses have available to them to reach their audience. Resources like these or even simply having a website can help draw in larger audiences to what a business has to offer.
Getting started producing content for your business can be a daunting task. There are many different things to consider. First off, the length is incredibly important. Everyone has skipped past a video that they just don’t have time or patience for.
Typically 65% of people skip online ads, and only the top 5% of all videos are watched to total completion. Considering this, it’s important to note that videos have a 50% higher retention rate when they are 90 seconds or less. So it's important to try and keep videos under two minutes.
Where to Post Business Videos
Next, location, location, location. YouTube is clearly the most popular place for video consumption. However, social media platforms such as Facebook, LinkedIn, and Instagram should not be overlooked.
Facebook boasts the highest organic engagement for this type of media, on all social media. On LinkedIn, marketers report a 75% percent success rate when they post using video. And 30% of Instagrammers report purchasing products after discovering them on Instagram.
Remember Your Audience
Third, remember to keep your audience in mind. The entire purpose of video is to make connections with real people. Focus on creating content that is alluring to them.
73% of consumers worldwide confirm that they want to be entertained when watching something online. Some of the most common and easiest videos made are Explainers, How-to, Product Demos, and Testimonials.
Tell Your Story
Video is such an effective marketing tool for the same reason going to the movies is so much fun. It is visual medium that has the ability to connect to an audience in a way that other mediums fall short and that is because of it’s ability to tell a story. Today’s audiences need visuals to allow them to see and hear how products will impact their life and video can accomplish this through storytelling.
Visual content is an impactful medium that has the ability to leave a lasting impression on its consumers and has a higher likelihood they will choose your product or service. Storytelling allows people an opportunity to process information faster and grants them empathy so they can relate to the brand.
85% of businesses have gotten on board with video production as a part of their marketing strategy. No matter the business model, video can support this.
Businesses can showcase their best qualities and help make a bold statement of who they are and what they have to offer.
If you’re looking to get started with video content for your business, MEM Media will help you create an effective marketing strategy and some stunning content to go along with it. We’ve already reached millions of viewers worldwide and we can help you do the same! Reach out today to get started. Good Luck! SOURCES