Video marketing has been on the rise these last three years, but the COVID-19 pandemic has made its growth rate explode. While everyone was quarantined in their own homes for months, they managed to watch 12.2 billion minutes of video content in 2020, including branded content, virtual events, and social media video content.
According to the State of Video Marketing 2021, 85 percent of consumers are excited to see more video content from brands this year. This means digital marketers have a new expectation to meet if they want to keep delighting their target audience.
The quick rise of this trend brings us to the question: is video marketing worth it? Do the benefits of video production outweigh the costs? The answer is yes, video does give a high return on investment. Here’s why:
The ROI of Video Content Marketing
Video content is now more cost-effective to create than ever, and you have various options on how you want to do it. There are plenty of outsourcing services that offer affordable rates, which are ideal if you don’t want to hire an in-house team.
You can also do the production in-house without having to invest in premium equipment. It’s now possible to shoot high-quality, 4K videos using smartphones then post-process them on free editing apps.
Aside from having low production costs, video content also delivers some impactful benefits in the form of engagement, brand recognition, and even conversions.
The 2021 State of Video Marketing report says that video has helped marketers drive more website traffic, generate more leads, increase the average time visitors spend on their website, and boost their sales. Ultimately, 87 percent of marketers confirmed that video gives them a positive ROI.
How to Boost Conversions through Video Content Marketing
Of course, the best way to get high returns on your video production costs is to use this marketing tool to drive conversions. Follow these tips to boost your sales through video marketing:
- Publish different types of video content: People consume all sorts of video content, depending on what kind of information they need at the time. Some of the most popular types of videos are tutorials, product demos, sponsored vlogs, and personalized videos. Live videos on social media platforms have also grown more amid the pandemic.
- Encourage user-generated content: Inviting customers to contribute their own videos is a smart way to gather feedback. People love watching user-generated videos because these seem more authentic, and they feel more confident in supporting a brand that’s honest and listens to customers.
- Optimize your videos for mobile: Ninety percent of consumers watch videos on their smartphones. So make sure the specs of your videos are compatible with mobile, from the resolution to the font size of the captions.
The bottom line is that the demand for videos is increasing, so ignoring this marketing tool means you’re losing out on opportunities to attract a bigger audience and drive more sales. More and more marketers are also leveraging video marketing to grow their brands. It’s imperative that you keep up with your competition to stay relevant to your audiences.
As long as you tailor your strategy to the needs and expectations of your audiences, video content marketing can bring you tremendous rewards in the form of engagement, leads, and conversions.
Video Production Company in Phoenix
Build Epic Consulting offers video production and virtual event services in Phoenix. We’ll help you visualize, produce, and edit any type of video you want, from branded content to virtual events.
Share your project idea with our video production team, and we’ll make sure it makes a mark on your audience. Contact us today to discuss your video ideas.