Why Online Video Marketing is the Future?
4 Major Benefits of Online Video Marketing
According to Wyzowl, around 85% of businesses say they use video as a marketing tool. That's a lot, but not surprising considering how video makes such a powerful impact – 84% of people say watching video has convinced them to buy a brand's product or service.
The past decade has seen video evolve from a luxury to a norm for businesses. For some, it's become a necessity. Modern enterprises are adapting to their consumers and changing the way they operate so they can give their customers what they want – that includes the 86% who want more videos coming from brands.
So what's the best way to go around online video marketing, and how can you leverage the power of video in your marketing strategy?
Here are a couple of things you should consider for your video marketing strategy.
Generate Leads through Greater Engagement and Interactivity
Videos are more engaging and easy to consume than other types of digital content. Around 66% of people say they prefer to watch a video to learn about a product or service instead of other media like plain text articles or infographics. Adding annotations and interactive elements like surveys or downloadable presentations to your video creates a more immersive experience, highlights key points and information, and increases customer engagement.
Live streaming goes one step further, allowing customers to interact and ask questions through features such as live chat and Q&A in real-time. Brands can address customer queries and concerns immediately and better convey the value of their product or service.
The higher the level of engagement, the more invested a customer becomes in a product or service, and the more likely they are to make a purchase.
Improve SEO and Content Discoverability
Companies that use videos generate 41% more web traffic than those who don't. People are more likely to view articles and visit webpages with a video. But did you know videos also help increase your content's ranking in search engines? An engaging video makes people spend more time on your webpage and increase 'dwell time,' a concept mentioned before in a blog by Bing. As implied, dwell time refers to the time people spend on your webpage. If you have more dwell time, search engines recognize your page as valuable and increase its chances of appearing higher up in search results.
Videos also help increase SEO by using enrichment tools like transcriptions and closed captions to create text for search engines to crawl. This makes your content not only more discoverable but also ensures everyone can access your content, which is essential for reaching as many potential customers as possible.
Educate Your Customers and Promote Your Brand
Online video advertising is a great way to promote your products and services. Scheduling a live webcast to announce a new, upcoming product or service is excellent for building hype and drawing attention from potential customers. You can save on time and resources, reach a large number of customers regardless of their location. You can also increase awareness for your brand.
Videos are also a great way to educate customers about a product. In fact, out of the 86% who want more videos from brands, a plurality of 36% say they want educational or explainer style videos. You can hold live sessions for product demos or create on-demand tutorial videos so your customers can learn and educate themselves about your product or service on their own time.
Measure and Analyze Audience Behavior
To give the customer what they want, you need to understand what they like and what they're looking for. Video analytics give insights into what customers find interesting and what attracts their attention. You can see what kind of videos your audience prefers to watch, how engaging your content is, and which part catches their attention the most to help you understand what they like and mold your business strategy accordingly. You can also see what time and days your content gets the most views and attention. Knowing how your customers behave and how your content resonates with them helps in better preparing for the next phase of your marketing strategy and making future business decisions.
Another way to get to know what your customers want is directly from themselves. Adding surveys to videos or conducting live sessions where customers can ask questions and share their expectations through live chat helps get a clear idea of what they want.
An innovative way to identify your customers and demographic is to use AI to identify your customers. Brands can use live streaming to record customers who visit their public outlets on camera and leverage AI to identify age, gender, sentiments, and similar metrics. This helps the brand identify their customer demographic and their purchasing behavior, and work on their online video marketing strategy accordingly.
Another important analytics is video completion data, which can be provided if your online video player has these capabilities.
Being able to truly understand what your customers need and want is crucial for planning your marketing strategy, decision making, and defining your organizational direction.
The bottom line, you should start including more videos on all of your channels, whether it's YouTube, your social media, or videos embedded on your website or blog. Video marketing is the future!