Videos are things that almost everybody knows. So, understanding what video marketing is should be no problem at all. Over the years, video marketing has become more and more popular among marketers and has become an essential component in any marketing portfolio.
What is Video Marketing?
When you use videos to promote your products or services, increase consumer engagements, educate consumers about your business offerings, and reach your target audience on digital and social channels, you carry out video marketing.
In a nutshell, video marketing for businesses uses video to promote products or services among the target consumers. But, for marketing to yield results, there is the need to formulate an effective video strategy for business. A well-formulated strategy and creativity are the core elements of online video marketing. You have to deliver your brand message to attain your marketing goals.
Why is Video Marketing Important?
The importance of video marketing stems from the proven receptiveness of people compared to the other forms of media. Video has become the most preferred and impactful media nowadays. And what is more, the latest devices and connectivity and communication platforms, like social media, YouTube, and Netflix, have evolved to deliver video content smoothly, just like text and images.
Notably, a detailed and well-written product or service description often fails to attain the level of engagement and ease of consumption of a video. And that also says why businesses should have a video marketing strategy for their marketing campaigns.
The Key Benefits of Video Marketing for Businesses
Audiences’ love for videos is not the only benefit for businesses to include video in their marketing strategies. Many other benefits dictate why video should be a top priority for marketers. Here is the list:
Getting people’s attention has become hard due to the fast world we live in today. And it is where videos can help by drawing attention and captivating your target audience, giving the desired spin to your strategy.
As videos attract people’s attention, you can easily communicate with your audience. With video content marketing, you can propagate your brand’s mission or educate your audience about how your products or services work. Videos also enable you to share an exciting story with your audience.
Consumers’ trust is an essential element for every business to flourish. Videos can help you to lessen the complexities associated with your brand.
With videos, you can use a narrative to appeal to the emotions of your audience. You can connect with them more intimately. It will help you to humanize your brand, build credibility, and foster consumer trust. Testimonial videos also help in building consumer trust.
As people like watching videos, you can leverage it by including engaging and informative video content to help to boost conversion. A video marketing analysis shows that the inclusion of a video on a landing page can increase conversion rates by 80 percent. Moreover, observation shows that consumers are more likely to buy a product or service after watching a video about it.
Higher SERP Ranking
The duration of people staying on a page is one of the critical criteria for Google to rank pages in search engine results. You can make visitors stay longer on your page by including an engaging video as visitors watch interesting video content. As you might already know, YouTube is the second largest online search engine, so your page containing a video gets higher chances of featuring high on SERPs by being present on it.
Formulating a Video Marketing Strategy
After knowing what video marketing and its advantages to businesses are, you should dig a bit deeper to discover the effective ways to formulate a video content marketing plan. To formulate an impactful video marketing strategy, you have to:
Analyze the Competition
Understanding how your competitors are marketing their products or services is the first thing to do before developing your video marketing tactics. Know their product types and how they differ from your offerings. Most importantly, analyze how your competitors are using video as part of their marketing strategy.
Check their websites and social media channels to understand how your competitors use video to convey their messages to consumers. Also, scan their blogs and other content types to figure out how they put everything together to make videos work for their businesses. In these ways, you can discover the strengths and weaknesses of your competitors’ video marketing strategies.
It will also help if you answer the following questions:
-> What types of videos are your competitors creating?
-> What are your competitors’ purposes for using videos—improving conversions, educating prospects, or boosting brand awareness?
-> Which communication channels are they using the most?
-> Are they using traditional channels apart from social media platforms?
-> What topics are they covering, and what is the depth of coverage?
-> What is the tone in their digital video marketing content?
-> Are their videos appealing to their audiences?
-> How many pieces of video content do they release per week, month or year?
Find the answers, which will help you to develop inputs to construct your video marketing plan. You can also engage a company that provides YouTube video marketing services to run a video marketing campaign for you.
Next, define the goals you want to achieve through your video marketing campaign. Make yourself clear about what you want to achieve–attract new prospects, build authority, foster consumer trust, or prompt potential buyers to make purchases.
You have to make videos that conform to the buyers’ journey to help you attain your goals. Say you want to introduce your brand to consumers, you should use a video that suits the awareness stage. Likewise, if you will explain your products and services to your audience, you need a video that conforms to the consideration stage. And if you want to prompt potential buyers to purchase your offerings, you need to use a video that caters to the decision stage.
Types of Marketing Videos
Once you formulate your strategy, it is time to decide what types of videos to implement in your marketing campaign. The popular video types are:
The fundamental goal of explainer videos is to start a conversation around your product or service to enable the viewer to understand why your offerings exist. These are usually short animated videos of less than 2 minutes of duration that explain everything about your offerings in simple, straightforward, and engaging ways, helping you generate leads.
These videos educate your audience about the problems and the corresponding solutions related to your products and services. Educational videos are a means to depict that your brand cares about customers’ concerns. These videos help in exposing your overall brand, build authority, foster consumer trust, and improve organic ranking on search engines.
How-To videos are also a kind of educational video but have a different structure and language. These videos give instructions to make a visitor understand the steps for completing a task or process. These videos help you increase your online presence, foster trust, and improve website traffic.
The video advertisements you commonly see are commercial videos. These videos focused on promoting a brand’s products or services. Commercial videos project a brand meaningfully by highlighting the best features and unique values to attract potential customers. These videos help you to increase brand awareness, attract new customers, and boost website traffic.
Customer Testimonial Videos
In these videos, your customers share their positive experiences with your products or services. Customer testimonial videos are among the best video marketing tools to make consumers understand the value of your brand.
Brands explain how their products or services work through product videos, which show the key features and benefits of the offerings. These videos help you build trust in consumers about your brand and get them closer to buying decisions.
Company Story Videos
Through company culture videos, you can demonstrate your brand’s culture and identity using the art of storytelling. These videos help you to build loyal relationships with consumers.
FAQ videos help in addressing the common doubts of consumers about your brand. FAQ videos help generate leads and increase conversions by providing precise information about your products or services.
Social Media Videos
The importance of video in social media is growing day by day. Social media videos are meant for sharing on social media, and the videos play an extended role, from explainer videos to commercial or product videos.
Social media video marketing helps you engage with your audience, boost brand awareness, and redirect traffic to your website.
Video Production Stages
Next comes producing the videos to implement in your marketing strategy. Video production, typically, comprises of three stages:
It is the initial stage of video production. You can regard the stage as a video strategy guide as the pre-production stage charts out the entire path of video production. You need to clearly define the content of the video, get feedback from all relevant team members, and book and schedule your shoot.
It is the stage when you shoot the video, which comes to life. Do not fail to ensure that the video has high-quality audio and visuals.
Post-production involves editing and graphic creation, which are the task of experienced editors. But ensure that visual, audio, and graphic effects are alright.
SEO Video Marketing
Out of the many benefits of video marketing, boosting SEO is one. Your website needs to rank higher in search engine results to enable visitors to find your brand name and know about your products and services. With SEO video marketing, you can improve your website’s ranking in search engine results as Google ranks a page with a video higher in search results.
But, videos elicit good SEO results only if you include the right keywords (long-tail keywords perform better) and include a catchy title. If you do not have the right resources to carry out an effective SEO campaign, you can hire a reputed corporate video marketing agency for the purpose.
Promoting Your Video Marketing Strategy
To make your video marketing strategy work, you need to put the videos in front of consumers. There are three primary communication channels you can use to distribute your videos, and those are:
Owned media is the set of communication channels you own and have complete control over them. Your website, emails, social media accounts, and blogs can be your owned media through which you can distribute your videos to consumers.
As the name suggests, the communication channels you pay for distributing your videos are the paid media. Search ads, social media ads, third-party website ads, sponsored content (blogs or articles), and promotion through an influencer on social media are examples of primary paid media channels.
Earned media distribution involves people sharing content for you. Social media shares and product reviews are the best examples of earned media distribution. It is also a good idea to delegate the task of the promotion to a reliable YouTube video promotion company.
Measuring Video Marketing Strategy Success
Finally, it is time to measure the performance of your video marketing campaign to determine whether it has been successful. The following are the metrics to measure the performance:
The number of times visitors viewed your video is the view count. The more are the counts; the more is the success.
The percentage of visitors who played your video among the total number of visits is the play rate, which helps figure out how appealing your video is to your audience. A low play rate indicates the need for optimizing your content.
Social Sharing and Comments
Comments and sharing on social media are good indicators of the success of your video marketing strategy. Comments help you understand your video’s impressions on consumers, and sharing helps your video reach more people.
The number of times your video gets played in its entirety is the video completion. If the number is more, you can regard your video marketing as successful.
Click-Through Rate (CTR)
The percentage of the number of times visitors clicked your call-to-action (CTA) divided by the number of times people viewed your video is the CTR. It is an effective metric to let you know how impactful your video is in encouraging people to buy your products or services. If you find a low CTR, consider redesigning your CTA.
The percentage of the number of times visitors completed what you wanted, divided by the number of clicks on your CTA is the conversion rate. A higher rate indicates the success of your video marketing strategy.
We believe that the video marketing tips described in this article will be immensely beneficial for your business. As video marketing has become a crucial marketing tactic, you should not fail to implement it in your overall marketing strategy.