Many businesses have not taken the plunge into the creation of quality video for their brand because they don’t think they need it. Some typical concerns about video are the expense, the time and planning. Whatever the excuse is, companies need to look past them because video is now essential to pace ahead of competition. What businesses don’t realize is the return on investment far exceeds a brand’s time and money spent on video production. Here are a few reasons every company needs to make room in their budget for video now.
First and foremost, customers want it!
Diode Digital found that before reading any text, 60% of site visitors will watch a video if one is available. One of the many reasons for this is that visuals are processed by the brain much faster than text. Forrester researcher Dr. James McQuivey estimates that one minute of video is equal to 1.8 million words. This statistic is one that simply can’t be ignored! Sharing video will allow a company’s audience to easily and quickly connect with their content.
Your audience will be more engaged with your story.
In addition to the ease of processing a message, videos also receive great engagement rates. According to Tremor Video, 75% of online video viewers have interacted with an online video ad within the past month. Viewers are also much more likely to share a video than a text. An enormous 92% of mobile video consumers share videos with others, according to Invodo.
This data backs up our mission here at The Storyteller Agency. If you share your message with someone through storytelling, they are much more likely to engage and become an advocate for your brand. Visual storytelling has proven to be one of the most successful ways to communicate.
Video has many uses.
One video can be used for so many reasons. A company can use the same video on their website, social media outlets, presentations, advertisements, email marketing and more. There is no limit to the expanse of video offerings, and with evergreen content like video, it will only continue to gain in importance and online traffic over time.
Your competition is using video.
According to eMarketer, sixty-eight percent of U.S. marketers plan to increase their digital video budgets in the next year. Companies that do not participate in this visual storytelling trend will soon be overshadowed by their competition’s video marketing.
Video has proven to be effective.
Video marketing has proven to drive sales for many companies. One great example is BlendTec’s “Will It Blend” Video series. BlendTec simply created and shared YouTube videos blending everyday objects in their blenders, including iPhones and sneakers. These videos resulted in a 5 times increase in sales! This company came up with a funny way to tell their stories through videos. By communicating their message in a way that resonated with their audience, BlendTec’s return was much greater than their initial investment.
According to Forbes, video now generates three times as many monthly visitors to a website as plain text posts, and a report published by Forrester stated that including video in an email leads to a whopping 200-300% increase in click-through rate. Those are both huge returns, accomplished simply by changing just one component of a company’s marketing!