Leveraging video in advertising is one of the best marketing plays you can make, and it is effective in building your customer base in the short-term and long-term. 80% of millenials initially turn to video when making a purchase decision, and 70% turn to video post-purchase when considering an additional purchase from the same company.
Interacting with your current and potential customers via video is an important and valuable strategy–provided that the execution is right. We at Gruen incorporate a feedback loop between the creative and the data to optimize your video’s–and your investment’s–impact on your customers.
Video Builds Brand Awareness
Video is the most effective way to both get in front of your customers’ eyes while simultaneously conveying who you are and what you do. It is captivating, evocative, and can have a lasting effect that goes beyond the conveyance of product and price. It is your carefully crafted link to the customers’ emotions and memory. Studies have shown that the average viewer remembers 95% of a message when it is watched, whereas only 10% when read.
Consumers prefer videos.
Beyond building awareness, people prefer watching videos. In a 2018 HubSpot survey, 54% of consumers wanted to see more video content from a brand or business they support. And businesses are responding to this demand. Mobile video usage has increased by nearly 10 million daily viewing minutes in the last two years (Mary Meeker). Cisco further projects that global internet traffic from videos will make up 82% of all consumer internet traffic by 2021. Consumers prefer videos and award their viewing time to websites offering them.
Video increases Brand Recall
When a consumer later desires a product or service that you offer, you want to pop up in their mind. Brand Recall is the extent to which a brand name is remembered for a particular product or service, and video is extremely effective at building this. Why? Because video is engaging and memorable.
Brand recall goes beyond the recollection of your brand name. It includes associations with slogans, trustworthiness, and promotions. A good video incorporates associations that further build brand recognition so that when the time comes for a consumer to buy, they turn to you.
Common types of videos include:
All of these serve unique purposes, and their success will vary by industry. Consulting with a marketing professional who has experience in market research and optimization will help you find the best fit for your company’s goals, and to improve results with time.
Forrester Research found that your content is 50 times more likely to make it to the first page of Google results if it includes video. There are a few reasons for this. First, a video is captivating and leaves the viewer on the page for a longer period of time–signaling to Google that they have found your site relevant to the query. Second, if the video has been made right, people will return to the site and increase its traffic. Third, People will link to your video if they find it engaging, whether it be through websites, social media, or other means.
Furthermore, if you can surround the video with optimizations, then you will set yourself up to blow the competition away. However, keep in mind that the key is to embed the video in a way that does not slow down your site. Failure to do so will have a negative effect on your search engine rankings, so it is important to consult with an SEO expert on execution.
Whatever your marketing effort may be, the key is to have a plan and process for improvement. Platforms change. People change. Technology changes. Have a plan to adapt to change, and constantly increase the return on your investment.