At last month’s HPS Masterclass at the Groucho Club in Soho, a packed house of clever marketing and production peeps heard how and why video has become the not-so-secret weapon for marketers with their fingers on the pulse.
There’s been a sharp rise in the number of businesses that now use video as part of their marketing armoury. In 2017, the figure was 63%. But according to WYZOWL Now it’s as high as 81%. According to Cisco by 2022, online videos will make up more than 82% of all consumer internet traffic. That’s 15 times higher than it was in 2017.
So why is everyone jumping on the video bandwagon?
The simple answer, video works.
Viewers retain 95% of a message when they watch it in a video, compared to 10% when reading it in a text. You can increase your conversions by 80% just by adding a product video to your home page. Equally impressive, 74% of users who watch an explainer video about a product subsequently go on to buy it.
How come video is so powerful?
Video generates far more emotional cues than an image can, with the ability to tell a story and appeal to a wider range of senses. This is important as campaigns with emotional content have been shown to perform almost twice as well as campaigns containing only rational content. With shrinking production costs and shortening production times, it’s now much easier than it used to be to convince an organisation of the value of video. Particularly as 83% of businesses are saying that video provides good return on investment. This tallies with the view of consumers, with 87% agreeing that they would like to see more video from brands in 2019. Better still, video can be used right up to the point of purchase with 50% of shoppers saying they use online video on their mobiles while they’re actually shopping in store.
Tips for planning video content
If you’re just starting out with video advertising, start by creating content with very small budgets, to see if it can work for your brand. If you don’t have one yet, hire an in-house video producer who can own the voice of your brand that’s generated by your films. Split test variants of the videos you’re using for advertising, not just variables within the targeting and supporting ad copy. Remember that video isn’t just for brand awareness and can be used to drive action too. Try direct response, conversion-focused video ads and see how they perform.
Tips for creating video content
To keep costs down, you can shoot and edit your films yourself. For the best results, use a tripod and don’t neglect your video’s audio, always allocating budget for sound design. In terms of the most appropriate budget for your videos, the masterclass featured a captivating case study by WISTIA with the same idea shot three ways for £1k, £10k and 100K.
If you want to see the results and grab some more hints and tips on award-winning video campaigns, then sign up to our next session on 17 May 2019.
If you’d like help with video marketing in the context of the buyer journey ping James or Em a note on firstname.lastname@example.org or use the contact button below.