Video Marketing: The Savvy Strategy for 2017

Marketers are giving video a lot of attention — and for good reason. Savvy marketers are wielding this powerful tool to increase email leads by 300 percent, boost landing page conversions by 80 percent, and drive a greater number of prospects to purchase — faster.

A single, short video is said to be worth 1.8 million words, and with results like these, it's quickly becoming a marketer's newest and most powerful friend. But what's on the horizon for video marketing? Will it hit a plateau when it comes to results? Will these impressive gains begin to diminish?

Statistics tell a clear story. Video marketing will only continue to grow. In fact, some say that 2017 will be the year of video marketing. Video is projected to claim more than 80 percent of all web traffic by 2019. So what is the current state of video marketing? Here's a quick breakdown.

Video marketing: driving greater ROI

People are watching an increasing number of videos online, and it's not just about entertainment; they are actively seeking product information. What's more, after watching these product-oriented videos, many are taking quick action on what they watched. Ninety percent of these customers say that watching product videos helps with making purchasing decisions. Moreover, 64 percent of customers are more likely to purchase a product online after watching a video about it.

The majority of marketers, 73 percent, report that video is positively impacting ROI. This medium is helping them to not only sell products and services, but also to experience greater growth. A recent Aberdeen report showed that marketers who use video enjoy growth rates that are 49 percent faster than those who don't.

Not just any type of video, however, will create these kinds of results; the content must be engaging. For example, Citrix Online created a video that focused on their GoToMeeting software. The video highlighted customer testimonials to showcase the benefits of using the product. But unlike traditional video, which may showcase testimonials with a "corporate tone," Citrix Online's video is more relatable to their viewers. The company used engaging B-roll footage that plays while the customers explain how they used the product to drive business.

Along with the testimonials, the video flashes to screen shots of GoToMeeting in use so viewers can see immediately how the product works. This makes the video footage more engaging and useful.

Cloud-based invoice company Taulia is helping customers feel more engaged by using this medium. The company created a video that played off an award-winning commercial series titled "Get rid of cable" by DirecTV.

The company shows what could happen if customers don't use their services, and the video employs humor to create an authentic connection.

Customer preferences point to video

YouTube reaches more adults on mobile devices during prime-time TV hours than any cable television network. Plus, 75 percent of business executives watch work-related videos at least once weekly ― which is a very good statistic for B2B marketers to know.

When given a choice, the majority of customers will choose video. In fact, 79 percent say they'd rather watch a video to learn about a product than read text on a page. What's more, 84 percent of those people say they were convinced to make a purchase after watching a brand's video.

Recommended for You

Webcast, June 21st: 5 Keys to Operational Excellence

These customer preferences toward video are also apparent through social sharing. In fact, videos are six times more likely to be retweeted than photos and three times more likely to be shared than other types of content.

Opportunities are expanding quickly

Customers clearly prefer watching video, and as data and research underscore this preference, an increasing number of platforms will be created to meet the demand. Marketers who watch, study, and explore this new medium may experience early adopter benefits. Here are a few tips for keeping a pulse on the changes in video marketing:

Platform knowledge is key. It's crucial for marketers to truly understand each platform in which they produce, publish, and share video content. For example, 85 percent of videos published to Facebook are watched without sound. Having this small piece of data empowers marketers to know that captions are crucial — and music is not.

Real-time data collection and reaction. Marketers also have an opportunity in the future to produce content based on real-time data collection and feedback. They can find out quickly if content resonates with a target audience, as compared to a more traditional reactive approach, where data is measured over a longer period of time.

Live video becomes more popular. A fast-moving trend that marketers should watch is live video. People spend, on average, more than three times more time watching Facebook Live video than video that is replayed. In addition, 80 percent of Livestream's survey respondents reported they would rather watch live video from a brand than read a blog.

Virtual reality will also gain strength as a video marketing trend. It allows customers to take a deeper dive into better understanding the products and services that a brand offers and the key functions of those offerings.

Conversational content and video: a hidden goldmine

Engagement is at the core of brand success. Without it, customers won't grow to love, trust, and rely on your products and services. Video provides one more tool in fostering those relationships in a market that is increasingly competitive.

A study by comScore, a website that measures online engagement, found that 100 million people watch video on the Internet each day. This statistic highlights the overwhelming reach of video and its potential impact on customer engagement.

For example, Deloitte knows their target audience is interested in statistics and predictions. The company delivers this type of data, but recently did so through video to make the results more engaging.

The video below features a senior online marketing manager talking to the director of research in the lab about his predictions for the upcoming year. He quickly highlights these forecasts in an interview format that is short and to the point (under two minutes). The video is quick enough to keep people engaged, but has enough depth to provide value.

Tips for driving greater engagement

Engagement is at the core of video marketing success. Most marketers want to create more videos, but aren't sure where to start in order to experience maximum results. Here are a few ideas to inspire your efforts.

Infuse videos into blogging. Use a video blog post, otherwise known as a "vlog," to break up written content. Optimize this content for mobile use and keep the length to two minutes or less.

Sum up your company's vision. Even written content that is already interesting can be spiced up with the addition of video. A video can show a company's mission quickly, effectively, and with greater engagement on the "About" page. Here's an example of a video that replaces the normal "what we do" website content.

Infuse landing pages with video. Adding a video to a landing page is an incredibly effective way to capture more conversions. According to Unbounce, "Video should be used on your landing page whenever possible. It provides a passive engagement medium where visitors can experience your message with very little effort."

The bottom line

Though marketers have touted video for years, it hasn't even begun to take off compared what's in store for the future. Data clearly shows one important thing: The customer's appetite for video is enormous. As a result, when marketers serve up what customers are craving, great things start to happen. Conversions soar, sales climb, and ROI increases significantly.

But, everything starts and ends with engagement. Find new ways to use video to tell your brand story, unique selling proposition, and how you solve a customer's most pressing pain points — and your brand is much more likely to grow and thrive in the future.

What do you think is on the horizon for video marketing in the coming year?

Source: Video Marketing: The Savvy Strategy for 2017