Video, Video, and More Video
I think its safe to say that "Content Marketing" has been in full swing for quite awhile - and brands are putting out exorbitant amounts of content in many forms at an unbelievable rate. This has accomplished many things but first and foremost it has given us a ton of data and allowed us to gauge what forms of content are most effective. What do people want to see? What do people want to share? What is going to give you the highest ROI? We have a much wider range of numbers to measure than ever before.
So what is the most effective? Well, the boring answer is it varies. It depends on what you are doing and where you are doing it. However - most of the time - the hands down winner is video. People like videos way more than blogs, pictures, podcasts, case studies, or any of the million other forms of content that marketers are putting out on a daily basis. Video can be pricey, there is no denying that, but in terms of your ROI - is the expense of video really worth it?
TL;DR: Videos are the most interesting form of content right now. Using videos along with other types of content makes everything perform better. The advertising and marketing industries as a whole expect to increase their investments into videos because they perform so well.
The answer is yes. Here's what the stats say:
Marketing Land reported 72% of ad agencies think online video advertising is just as effective as—if not more than—television advertising. PR Daily, 2015.
That is actually a really huge stat right there. Because of the amount of people switching from the old model of enjoying their media from the television solely - to the current model of enjoying media on phones, tablets, computers, and television - the effectiveness of tv commercials has dwindled and the effectiveness of online advertisements has exploded - at a significant savings - Youtube and Vimeo are much cheaper than what the broadcast channels charge to air your tv spot.
Videos on landing pages increase conversions by 86%. Social Fresh, 2014.
This is a great metric to gauge the effectiveness of video. Videos are much more effective at funneling prospects into the ecosystem that allows a company to sell to them. Landing pages are very important to many companies' content marketing strategies and increasing conversions by 86% can lead to a significant increase in sales.
Blog posts incorporating video attract 3x as many inbound links as blog posts without video. - MOZ
The success doesn't just end with landing pages. Videos and alternate forms of media are extremely efficient at increasing your SEO, and inbound links to your blog TRIPLE. It shows that videos are shared and clicked on in a much higher rate than any other form of media.
75% of smartphone owners watch videos on their phones; 26% at least once per day. NewsCred, 2014.
Pretty much everyone agrees that everything is going mobile - and user habits show that people prefer to spend more time watching a video on mobile compared to any other type of content.
Enjoyment of video increases purchase intent by 97% and brand association by 139%. - Mediapost
If someone likes your video their intent to purchase will almost double! Other than a significant drop in price there is no other more effective way to increase purchasing intent to such a high degree.
The most effective stats for me, are what the professionals in the field plan on doing in the future. These people look at success metrics and analyze the effectiveness of all their strategies all day long. They invest in the forms they feel will be the most successful. If the industry as a whole is moving towards video I feel pretty confident that so far it is performing successfully for the vast majority of brands.
- 65% of respondents have said they plan to increase spends on online videos in 2015. Regalix, 2015.
- The use of video content for marketing increased 73% this year. Digital Marketing Phillipines, 2014.
- By 2017, online video will make up nearly 70% of consumer Internet traffic. - CISCO
- 75% of executives said they watch work-related videos on business-related websites at least weekly; more than half (52%) watch work-related videos on YouTube at least weekly. (forbes)
- 62% of marketers report using video in their content marketing. -The Content Council
- 73% of B2B marketers use video as a content marketing tactic. -Content Marketing Institute
- $118.4 billion will be spent on online advertising, including content marketing, video and social media in 2013. -Emarketer
- 61% of young executives say they will rely more heavily on business-class video in the next 5-10 years.-CISCO
Take these stats into account when you are planning your next big marketing push. We know everything always comes down to budget - but if your budget allows - we recommend video, video, and more video.
Drop us a line if you are thinking a video might be in your near future.