Video: The One Essential Of Any Marketing Strategy
- 20 August, 2019 13:46
There is no doubt that video is an important marketing tool. In fact, about 87 per cent of businesses use video as a part of their marketing strategies. Why? Because in an age of decreasing attention spans, video is an easily-consumed, easy-to-share medium. It allows businesses to create an engaging way to impart crucial information to consumers when and where they want to consume it.
The use of video is also highly effective, with some studies suggesting it is up to 600 per cent more effective than traditional marketing mediums, according to digital design agency Diode Digital.
The Interactive Advertising Bureau (IAB) also reports there was $1.4 billion spent on video advertising in 2018, with video now representing eight per cent of the Australian ad market. Video is also the fastest-growing digital advertising segment, up 26 per cent since 2017.
However, for video to be effective it must also be developed and implemented in a strategic, considered way, tailored to specific audiences, using appropriate creative and metrics.
The great news is, video marketing does not need to be complicated or expensive. Companies can pull together marketing videos quickly, professionally, and at a reasonable cost.
Developing a Holistic Video Strategy
Consumers today want their marketing information to be broken down into bite-sized, shareable formats so they cannot only engage with a brand but also be able to share across YouTube, Facebook, Twitter, SnapChat and now, TikTok.
However, what kind of video this is depends on need – for both the consumer and the business. For example, in many cases a two-minute video or less will be the most suitable form for imparting important information or a call to action. However, long form video is better for building brand affinity, recognition, and trust, as it facilitates an emotional connection between a business and consumer.
Viewers of video retain 95 per cent of the information they see on video, compared to only 10 per cent of written materials, so video is an important channel when delivering key messages. Additionally, video can serve a lot of purposes in a marketing strategy, from testimonials, product information, landing pages, blog articles, informative webinars, and when trying to reach younger generations, social.
There is a lot of noise and competition in the brand space, and it is increasingly difficult for marketers to get consumer attention. However, a good video strategy can also break through the noise and buyer apathy, regardless of channel.
Video should be created as a part of the overall marketing strategy, with the end viewer in mind first, before any creative is made. Video must also mirror the customer journey, be promoted on the channel to best reach those target consumers, and include measurable metrics, so marketers can easily see the success of a video and adjust creative as necessary.
Brand trust, Personalisation, and Storytelling
The most effective videos tell a story. They evoke an emotion, address pain points or present an actionable solution, making storytelling an important element of any video marketing strategy.
Storytelling is simply being open with the consumer, and allowing them access into a business’ inner workings or a behind-the-scenes story. There are three components to successful storytelling: the plot, the conflict, and the resolution. To truly connect with the audience, there needs to be a clear storyline, so the viewer feels the pain of the conflict the same way the subject in the video does. Then to finish out the video, the viewer needs to feel the same sense of relief with the resolution. Length of video matters much less in an emotion-evoking story that simply illustrates the change a product or service brings to the world.
Great storytelling also requires two key things: authenticity and value creation. Consumers are savvy, and can easily see if a story is false. To be authentic, a story must be lived from inside the business before it reaches the consumer. Lip service will not cut it. As for value creation, this flows from the genuine desire to solve a consumer problem or make life better for the consumer. In other words, don’t make storytelling about selling something. Instead, concentrate on making an emotional connection and offering a solution to a common issue.
If videos offer value, allow insight into a business, and are not overtly sales-orientated, they can create both brand trust/affinity, and brand value, not to mention a happy consumer who feels nurtured and is keen to come back.
Video is a vital part of any marketing strategy; in fact, it can be the most effective part, when done right. Find out more about how to create a successful video marketing strategy in this practical eBook.
To learn more, visit www.brightcove.com.