If you have not jumped on the video marketing train yet, now is the best time to grab a ticket. Why? Because the verdict is in. A staggering 78 percent of consumers prefer videos!
The fact that videos have been cited by Hubspot as the top content disruptor in 2018 is no coincidence. Today more than ever, it has become increasingly apparent that videos have become this key component marketing campaigns can no longer do without.
Gone are the days when marketers treat their brand’s marketing strategy as nothing more that a stagnant game plan on a piece of paper. Nowadays, they are required to bring it to life if they want to succeed or at least stay afloat. And yes, an impeccable corporate video is exactly the electroshock therapy needed to successfully revive any brand’s flatlining marketing strategy.
The appeal of videos has proven timeless. They can do something mere texts and even images can’t pull off. Videos can create real and instantaneous connectivity and interaction with consumers. In addition, they can also provide a medium where people can comment and react in real time. And that’s just for starters.
Video Marketing Statistics
Before we dive into the reasons for investing in a corporate video production, let’s answer one of the key questions brands ask—is video marketing really worth it? Savvy marketers reply with a resounding yes! However, for those who are not convinced, the following statistics should change their minds.
- According to eMarketer, 4 times as many consumers prefer watching a video about a product as opposed to reading about it
- Almost 50 percent of online users look for videos that are related to a product or service prior to visiting a store
- Companies that use videos enjoy 27 percent higher clickthrough rates and 34 percent higher conversion rates
- A staggering 80 percent of consumers find demonstration videos helpful when making purchases
- Placing the word “video” in the email subject line has been proven to increase clickthrough rates by 65 percent and open rates by 19 percent
- Year-over-year revenue of brands that use video marketing has grown 49 percent faster
- Incorporating a video in a blog post can attract at least three times as many inbound links compared to blog posts without a video
- At least 60 percent of site visitors will watch a video than read texts
- Video ads have the highest average clickthrough rate among all digital ad formats, 1.84 percent
- On average, visitors spend 2.6x more time on pages that have videos
The Corporate Video Revolution
What are corporate videos?
The landscape of corporate videos have evolved dramatically. Many years prior, budget constraints have limited corporate videos to internal communications. Also, back then, only massive corporations with huge marketing budgets can afford corporate video production and commercial-broadcast videos.
Nowadays, corporate videos are everywhere. In fact, a staggering 96 percent of B2B companies are now integrating corporate videos in their content marketing.
What are the different types of corporate videos?
There’s no denying videos are now considered the best way to connect and engage with customers. There are diverse types of videos a company can produce and each comes with awesome and unique benefits.
Let’s explore some of the corporate video types that deliver impeccable results.
- Corporate Communication Videos
Some people can probably remember those days when Xeroxed company wide memos or poorly crafted (and lengthy) emails tackling new blanket directives or recent policy changes were the thing.
Fortunately, modern technology has given companies a better and more effective means to communicate. Nowadays, many companies have turned to corporate communication videos to tell stories, inform, persuade, and grab the attention of employees, influencers, and customers.
Come to think of it, how do brands get people to buy into a service or product if consumers don’t have a clear understanding of what they are offering to begin with? What better way to get employees to support and understand recent company directives than a video straight from the company’s CEO?
In the same manner, if a company restructures or rolls out new investor initiatives, a well-produced video on the landing page of the company website can be a truly effective way to deliver complex details in a manner that’s coherent, elegant, and interesting.
- Marketing Videos
At this time and age, customers use multiple screens at various times to tap into information they want. To address this need, brands have to create a marketing strategy with a laser-focused and clear message designed to keep the customer’s attention and keep it.
Using video production techniques such as time-lapse, 3D imaging, and animation, the company’s message gets seen, understood, and even shared on social media. With that said, brands now consider making engaging, compelling, and interesting videos using the latest video production trends and technology a wise investment.
- Corporate Training Videos
Many firms work with industrial psychologists and corporate coaches to “train trainers” and teach company employees how to work best within the culture of the company. Other brands on the other hand allocate a huge budget on training conferences to ensure employees understand and apply effective sales techniques, new safety guidelines, and customer service procedures accordingly.
A well-produced and well-conceived corporate training video can lessen hassles and reduce costs dramatically. Also, using corporate training videos can help brands leverage resources effectively and train employees in a way that is both engaging and effective.
Why do businesses need corporate videos?
Marketers can attest video is one of the primary ingredients of any successful marketing campaign and research and statistics have proven this to be true. The average business now publish as many as 18 videos per month and many consumers are embracing this type of content wholeheartedly. In fact, 85 percent of consumers say they look forward to seeing more videos from brands.
The trend shows no signs of slowing down. And it’s not really surprising. For starters, video can support and achieve multiple business and marketing goals including customer experience, retention, sales, customer retention, and many more.
Below are 7 compelling reasons why businesses should invest in corporate videos.
- It helps boost website traffic
When it comes to increasing website traffic and keeping visitors on the company site longer, video is deemed a highly effective tool. Nowadays, brands post videos on social media and other content platforms to drive people to the site. A whopping 76 percent of marketers attest videos have helped them successfully achieve said objective.
One of the notable companies that has seen results using this strategy is Home Depot. The well-known home improvement brand creates and posts impactful videos on their Facebook page featuring some of their products. They also include a website link in their captions so viewers of the video can easily explore each products more.
- It helps brands win new sales
Marketing and sales teams are now using videos to convert prospects and be a step ahead of the pack. While digital ads and email drip campaigns are also helpful in creating customer touch points, videos have proven to be a more dynamic and compelling option when it comes to telling their story and winning new sales.
Undoubtedly, videos have the power to showcase and promote products in ways photos and texts can’t, making them a indispensable tool in the sales process. Statistics back this up with 81 percent of people claiming a brand’s video convinced them to purchase a product or service.
- It helps brands educate new users
When it comes to the perfect tool that can help new customers and prospects better understand a product or service, videos take the top spot. An unbelievable 97 percent of marketers affirm that videos have helped their users gain a better understanding of the products and services they are offering. In addition, 95 percent of consumers watch explainer videos to obtain relevant information about a product or service they are interested in.
- It helps brands address commonly asked service and support questions
Customer service and quality support are both critical to customer retention. Fortunately, there’s no need for customer service teams to manage these aspects anymore. At present, many brands have turned to videos as a way to answer questions proactively. At least 47 percent of brands claim this strategy has effectively helped minimise support queries.
Aside from answering frequently asked questions, videos can also be used to provide visual instructions on how one can complete specific tasks. This is a win-win since it will not only help customers save time, it can also help brands save money that will otherwise go to costly customer support teams.
- It helps boost a brand’s popularity
Regardless of the social site brands are active in, it’s easy to see videos are currently dominating the content game. When scrolling through Instagram, Twitter, Facebook or other popular social media platforms, videos are predominant and are shared at a much higher rate than blogs.
When videos are posted online, brands are sharing content that has the potential to impact the business in a really profound way. This is especially true if the video goes viral. The commanding popularity of videos is quite evident with 92 percent of mobile video audiences sharing them according to a research conducted by Hubspot.
- It helps brands stay relevant and competitive
The idea that videos are here to stay is no longer up for debate. Many studies and signs point to videos eventually dominating the Internet in the not so distant future. In fact, a Cisco study predicted that by 2019, videos will comprise at least four-fifths of the traffic online.
Clearly, videos will continue to dominate in the coming years and leveraging on its power now gives brands a leg up on its competitors. Those that wait until later to jump in on the bandwagon are sure to get left behind.
- It provides measurable return of investment (ROI)
One good thing about videos is brands can easily gauge its success and determine if it’s well worth the investment. Websites like Youtube and Wistia have tools that can track relevant metrics like unique views, shares, likes, etc. so brands can easily keep tabs if their efforts and investment are paying off accordingly.
There’s no doubt the video marketing landscape will continue to evolve dramatically. However, one thing is constant—when used accordingly, videos will not only help you be a step of the pack, it can also help you effortlessly take your business all the way to the top.
Need a topnotch corporate video for your business? The team of experts at Reelmedia is just a mouse click away. Get in touch with us and let us know how we can help!