Video was once a marketing tool reserved for big money businesses. However, the sustained internet growth means that small to medium businesses (SMBs) are increasingly feeling the need to make video part of their budding phase.
NRG Digital knows that video has become a staple in the industry for both businesses and startups looking to make themselves known as a way to capture new audiences as well as in the scaling of business operations. Here are four of the most significant ways video is being used by various players in the industry for boosting their growth.
1. Reaching a Higher Number of Mobile Customers
The mobile market has been the most important group that marketers target for several years running now. With the level of popularity that video has been enjoying, mobile users have become more important than ever.
To get a bit of perspective on this, a study by Cisco states that 60 per cent of mobile internet users only consume video content, which is simply phenomenal to say the least.
This somewhat new concept can be best summarised by a quote that’s probably as old as the first video that was ever recorded: if a picture is worth 1,000 words, then a video is worth at least 10,000. It is by quite a considerable margin the simplest way to squeeze a great deal of useful information into a short period of time.
2. Demonstrating How Products Are Used
Try visualising attempting to explain a complex product or even a simple product that’s difficult to explain using just some stock photos and perhaps a few screenshots. After this, try imagining just how simpler the process would be if you opted for a 30-second video or relatively longer video depending on your product’s complexity.
In the process, you will have the opportunity to clear up areas that are harder to get around or understand – say after a redesign of the website, for example. Prospective customers will have their own preconceived notions, perhaps from past experience or hearsay. You will also have the opportunity to clear up such misconceptions.
Videos such as product demonstrations, for example, can be incredibly useful when it comes to shedding some light on how different your product is from that of your competitors. It may also take the form of an instructional video that shows how the relatively complicated aspects of your product can actually be used. The number of valuable customer questions that you will save due to this is remarkable.
3. Provide Third-Party Proof
Marketers often get over their heads in as much that they forget that mortar and pestle, besides being old-fashioned, is sometimes the most effective solution available. Simply put, recommendations can be incredibly effective when it comes to getting more people to buy your product or service. 80 per cent of people are more likely to make a purchase after people that they trust recommend it to them.
Attempting to penetrate a person’s inner circle and getting them to recommend a product or service might sound like much more work than it is actually worth. However, a social media recommendation increases the possibility of a purchase by 18 per cent more than traditional advertising. It is where the power of video comes in.
4. Growing User Engagement
Engagement has always been a central focus for marketers since it is one of the most effective ways to grow any business. Factors that play a role in the calculation of engagement include likes, comments, shares, how much of the video has been watched, and the number of videos of a similar channel or style are being watched.
Depending on where your company has chosen to focus on most, it would be defined very differently, depending on which of the factors listed above bear the most weight. Its importance is anchored on the fact that more engagement shows that the audience is more invested, which translates to a greater overall impact on people.
Depending on your industry and the type of video you plan to use, it might have to be more informative than entertaining or fast-paced than interesting. In the end, it could take a bit of split (A/B) testing and trial and error to get it right.