Strategic Video Growth – Part 1
This week we are going to be talking about the impact of video in a 3-part series.
Part 1 looks at the rise of video and its importance in delivering a content strategy to help drive business growth.
Part 2 will look at the various channels and execution of Video content.
Part 3 will look at one of our clients as a case study to show the impact Video has had on consumer engagement and results.
The Rise of Video & How It Can Help Your Business Growth:
If you are not using video as part of your social strategy and content strategy as a business, then you are already behind everyone else including your competitors. It doesn’t matter what your business does whether it’s B2B or B2C, the rise of video content and engagement has killed the organic social media post. Online video drives better engagement, live video is seeing huge response rates, 80% of all internet traffic will be video by 2019.
Here are some important statistics to keep in mind:
- 90% of consumers say video can help them make buying decisions
- Mentioning the word ‘video’ in your email subject line increases open rates by 19%
- Video on landing pages can increase conversions by up to 80%
- 500,000,000 people watch video on Facebook every day
- 1/3 of time people spend online is devoted to video
Video is on the rise too, in 2017 74% of all internet traffic was video, this is set to increase to 80% in 2019. Statistics for 2021 show that 13% of traffic will be live videos. So, Video is on the rise and killing traditional engagement methods through social, but this is an opportunity for you and your business.
Creating video content is getting cheaper due to increase in demand. Not all video has to be Live, there is an increase in animated video’s that drive the cost down. Recently we have seen that consumers prefer short videos of up to 10 seconds with a higher viewability rate, this has developed because of the high volume of Ad Skips after 5 seconds on YouTube pre-roll ads. Consumers are more receptive to watch a video that lasts 5 to 10 seconds especially if they are un-skippable. The short video times also reduces cost and production compared to creating the old tradition 30 second and 2-minute videos.
Depending on your business objectives Video can significantly improve key aspects of your business growth from Sales and Brand Awareness through to promoting a great workplace and improving staff retention. With a well-developed Media Strategy and Video Content Plan you can expect to see a significant uplift in performance. Video is now consumed across many digital channels from Social, YouTube and Vimeo, Mobile, Video Display, In-App through to Digital Outdoor Screens. Video can now be placed in more strategic places to help you connect with your desired audience at a deeper level but also the helps create that one to one communication.
So, whether you are looking to increase sales, drive brand awareness, engage with a specific audience or promote your workplace to attract the best talent, make sure Video is the content strategy you employ.
In our next post on Wednesday 8th we will be discussing how you can effectively execute video through various channels. On Friday the 10th we will be going through a Case Study example of how Video has improved one of our clients results, so stay tuned for more Video Insights this week.