For big companies with deep pockets, video marketing is a no-brainer!
However, for small businesses, video marketing can be a big risk if not done properly.
Producing videos has shown to be an excellent first step, for my business owners, but having a video marketing strategy for that video is by FAR the single most important thing they can do to increase their online presence.
They need to be strategic & have a well-planned video strategy to ensure a positive return on their investment.
What is Video Marketing?
Video marketing is the practice of creating videos as part of a broader marketing campaign. This includes posting regular videos on social media platforms like Facebook, Instagram and YouTube, as well as videos featuring branded content on your website.
The term "video marketing" is often used interchangeably with the terms "online video," "web video" and "video advertising." However, there are some key differences between each of those terms. Online video refers to online videos that you upload to a site such as YouTube. Web video refers to webpages that include embedded video and video advertising is defined as advertisements that play within a video player on platforms like Hulu or Instagram to reach potential clients.
In short, marketing videos encompass many types of videos, including branded videos, video testimonials, promotional videos, explainer videos, tutorials, animations, corporate videos, demo videos and more.
The goal of video marketing is to reach potential customers where they're most likely to spend their time online. And while some people might watch videos on Facebook, others prefer to go directly to YouTube.
Why Does Video Make People More Likely to Buy?
Whether it's used for entertainment, education, or advertising, video is one of the most powerful tools for connecting businesses with customers because it taps into our brains' natural hard-wiring and utilizes the power of human psychology.
Storytelling: Whether they're told by a person, book, or even a 30-sec commercial, people respond best to stories. Videos pull at our heartstrings and capture our attention better than any other medium. This is because humans are social creatures, so it's easy for our brains to empathize with characters and get immersed in a story. That's why advertising is a trillion industry because they know the neurological effect stories have on the human brain, it taps into the same innate instincts that ultimately helps turn viewers into paying customers. In fact, according to this study, emotional response to a commercial has a far greater influence on a consumer’s intent to buy than the actual commercial’s content.
Retention: The human brain evolved to be extremely efficient; it's hardwired to find the best way to absorb information without spending too many calories. This same principle applies to video and why it makes selling so easy. The average viewer remembers 95 percent of a message when it's watched, compared to 10 percent of text-based messages (ScienceDirect). This is why video makes it so much easier to grab your audiences' attention and educate them about your products and services.
Attention: Why is it so much easier to watch a movie than read a book? According to the ClevelandClinic it’s partly because the human brain is primarily an image processor. This is why humans respond to and process visuals better than any other kind of stimulus. The human brain processes images 60,000 times faster than text, and 90% of the information transmitted to our brains is visual. By using video marketing, you aren't just instantly connecting with audiences, but explaining your products and services at lightning speed.
When done correctly, video content can help businesses build trust, credibility, and propel their audiences into action. Now that we understand why video works, let's look at some ways you can implement the best practices into your video marketing strategy.
Top Benefits of Video Marketing You Can Expect For Your Small Business
- Increased Ranking: YouTube is the second most popular search engine behind Google. By uploading and optimizing your video content to YouTube you can boost your ranking in Google searches. Just by adding your video to your website, you could increase your ranking by 20%. This could be a make or break for a small business since most people never venture past the first page. Need help with ranking your videos on the 1st page? Here's a free tutorial!
- Organic Growth: By investing in high-quality video production and optimizing them for search, you can start attracting visitors to your site organically! No need to pay for traffic; the quality and quantity of your organic traffic will grow over time. It increases conversion rates by 41% when compared to businesses that don’t use video marketing as their primary business strategy (SerpWatch). So, what does that mean for your business? More organic traffic, more leads, and ultimately more sales.
- More Sales: One of the greatest benefits that small business owners can gain from video marketing is nudging their internet users toward online purchases. A recent study by Forbes revealed that people spend 88% more money on websites that use video, compared to those that solely used text-based production descriptions.
- Boost click-through rates: Videos are one of the best ways small businesses can interact with their customers online, but what's the best way to ensure it gets seen? (or even gets opened). You guessed it - videos! Just by adding a video to your email messages, you can increase your click-through rate by 300%.
- Increased Credibility: Video content marketing allows you to boost your consumer trust by positioning yourself as the face of your local market. Think about it, if you're a local coffee shop, and you produce videos about different types of beans, new roasts, and brewing tips. You position yourself as a coffee expert in the mind of your local viewers and become the go-to spot on everyone's mind.
5 Ways To Use Video Marketing for Small Businesses
1.) Tell Your Story With A Brand Video
As a small business owner, you want to ensure that people know what sets you apart from the competition. However, once you've gotten their attention, you'll need to keep it and a sure-fire way to leave a lasting impression is a Brand Story Video. This video style introduces your business, your team, and what sets you apart from your competition. They help build customer loyalty and trust by connecting emotionally with audiences. One of the advantages of having a branded video is that it gives you the ability to always make a good first impression. In fact, studies show that just using an intro video increases conversions by up to 200%.
2.) Launch a New Product With Promo Video
A product video is an educational-style video that helps consumers understand the product's qualities, features, and benefits. Where most product videos go wrong, is they just focus on the facts and not enough on the emotional resolutions the product offers. To separate a good product video from a great one, they need to show how their products solve their customers' problems. By understanding your target audience's pain points, you're better able to resonate with their stage in the buyer's journey and drive them into action.
3.) Create a Demo Video on How your Service Works
These types of videos are an excellent way to educate your audience and answer commonly researched questions. They help you establish yourself as an authority figure in your industry and build trust with potential customers. Videos like these include explainer videos, animated videos, FAQs, and case studies videos. By providing free value, explaining complex processes and addressing their questions, your videos will be the first things they see when searching online for answers. You don't need to sell your product directly; instead, focus on highlighting how your services can help them solve their problem.
4.) Build Social Proof with Testimonial Video
A recent study found that people trust testimonials over advertisements 97% of the time and 60% of buyers trust online reviews as much as personal recommendations. With that data in mind, the best way to showcase your products and services is to let your happy customers do the promoting for you. In addition to being cost-effective to produce, customer testimonial videos are much less likely to annoy your audience than traditional advertisements. They allow you to build relationships with current and prospective customers while providing a tangible example of why your business is better than the competition.
5.) Increase Website Traffic With Social Media Videos
These video ads are short, sweet, and to the point. They effectively capture the essence of your business, products, and services without losing your audience's interest. Social media videos are the perfect way to connect with prospective customers because they are already spending time on those platforms. According to a recent study by BrightEdge, 93% of marketers say they've scored at least one new customer through videos posted on social channels. When done right, they can instantly capture consumer attention and lead them right to your website.
While this isn't a definitive list of small business videos, they're the best ones to start with if you want the biggest impact. Unfortunately with their rise in popularity, videos alone aren't enough for long-term success. That's why your video production company must be able to provide a custom marketing strategy, so you can maximize your video investment.
Challenges of Video Marketing
In today's world, there are many ways to produce high quality video content, including smartphones, webcams, drones, 360° cameras, & GoPro's. There's no shortage of tools available to help you create professional-looking videos. However, it takes more than just technology to make great video content; it requires creativity, planning, and strategy.
Video content marketing is one of the most powerful forms of digital marketing because it allows businesses to connect directly with customers and prospects. Video marketing provides a number of benefits, such as improving brand awareness, increasing traffic to landing pages and boosting conversion rates. But creating great video content isn't easy. You need to know what works, what doesn't work, and how to use each type of content effectively.
You must start by determining your target audience. Who are they? What problems do they face? Where do they spend their time online? If you don't know where to begin, try asking yourself questions like "What do I wish I knew about my market?" or "Who am I trying to reach?" This information will allow you to develop personas for who you're trying to target.
A big mistake a lot of business owners make is trying to add several messages into one video, leaving the viewer confused on the key point or service they provide.
Producing a video for your small business doesn't need to be stressful; in fact, with the right team and strategy - it can be fun and produce a positive ROI.
If you're in South Florida and looking to get started in video production, we'd love to help! We're an award-winning video production company and have a thorough knowledge of the entire production process and can help reach your video goals and get the job done - the first time.