In today’s fast-paced digital landscape, video marketing has emerged as a powerful tool that no business can afford to ignore. As you consider your marketing budget for the remainder of 2024, it’s crucial to allocate resources to avenues that guarantee a high return on investment (ROI). Video marketing not only promises impressive results but also offers a myriad of benefits that can elevate your brand to new heights.
At Reels in Motion, with 20 years of experience in the video business, we understand the immense power video holds in unleashing a brand’s full potential. We also know it can seem daunting and complex. These key insights will help you cut through the noise.
If you’d like a free video marketing audit for your brand, get in touch. We’ll help bring your vision to life and make video marketing a breeze.
Let’s delve into why video marketing should be a cornerstone of your 2024 marketing strategy.
The Benefits of Video Marketing
Increased Engagement
Videos capture attention more effectively than text or images, making them a powerful tool in video marketing. Research shows that people are more likely to watch and engage with videos than any other type of content. By utilising video marketing strategies, businesses can significantly enhance user engagement, encouraging longer site visits and higher interaction rates. Video content marketing not only attracts viewers but also keeps them engaged, leading to a deeper connection with your brand.
Better Conversion Rates
Marketing videos can drive higher conversion rates, making them essential for any video marketing strategy. According to video marketing statistics, adding a marketing video to your landing page can increase conversions by up to 80% (Eyeview, 2024). This comes as no surprise, with videos having the ability to explain products and services clearly and concisely. These compelling videos can easily address potential customer pain points, leading them down the sales funnel more effectively than solely text-based content. Additionally, paid advertising utilising videos, such as across Facebook and Google, has been proven to consistently deliver more results, with Gartner reporting that 64% of customers are more likely to buy a product online after watching a video ad.
Improved SEO
Google loves video content! What’s more, optimised videos can enhance your search engine rankings, playing a crucial role in your digital marketing video strategy. Search engines prioritise websites with rich multimedia content, and well-optimised marketing videos can help you rank higher in search results because ultimately it means your page is going to be more useful to the customer.
You may have seen that Google displays a thumbnail next to a search result, what’s called a “rich snippet,” and it’s been proven that if this appears, users are much more likely to click.
To achieve this, search engines will want the video to be the champion of the page, so it’ll need to be embedded and indexed correctly, it will need to be the focus of the page rather than a secondary, and you’ll need to ensure that the video has the relevant context. It can also increase your SEO because search engines favour websites that have a good user experience, which video offers. Visitors are much more likely to spend time on the page to finish watching the video, video also encourages more click-through and share actions on the page, as well as those all-important conversions.
Increased Brand Awareness
Video marketing significantly boosts brand awareness by providing a memorable and shareable format for your message. High-quality marketing videos help establish and strengthen your brand identity, making it easier for audiences to remember and recognise your brand. Producing unique videos that reflect your brand’s values and voice can create a lasting impression on your target audience and differentiate you from competitors.
Higher Shareability
Videos are more likely to be shared than other types of content, amplifying your reach and visibility. Social media platforms not only favour video content, but users are more inclined to share engaging videos with their network. By leveraging video marketing techniques and creating compelling, shareable content, you can increase your video’s chances of going viral and/or being shared, thus expanding your brand’s reach and attracting new customers organically.
Social Video Platforms
In addition to traditional video marketing, social video platforms such as Instagram Reels and TikTok offer immense potential for boosting engagement and brand awareness. These platforms favour short, engaging videos that can quickly capture attention and drive interaction. By creating and sharing short-form videos tailored to these platforms, businesses can tap into a vast audience and foster a sense of community. TikTok and Instagram Reels are particularly effective for showcasing your brand’s personality, highlighting product features, and participating in trending challenges to increase visibility.
So, if it’s so great I hear you ask, why doesn’t everyone do it?
Busting Myths: Why Marketing Teams Avoid Video Marketing
Let’s look at some of the reasons why people tend to avoid video marketing, and hopefully, we can bust some of the myths:
It’s Too Expensive
Parting ways with that marketing budget that you’ve negotiated may send shivers down your spine. Admittedly, video production can be expensive – however, it all depends on what you need and the scale of the video you are aiming to produce. If you need something that has actors, voiceovers, popular music, and different locations, that will cost more than a set of product videos you are shooting in a studio, for example. That needn’t put you off; however, video production agencies and services will work with you based on what budget you have available.
It’s Hard to Track
While traditional forms of video advertising were harder to attribute direct ROI to, such as national television advertising, it’s now easier than ever to track how your videos perform. You can utilise functions such as A/B split testing, add trackable links, set SEO parameters, and look at engagement metrics to truly understand how your video marketing is performing. This means you can know those all-important CPC, CPA, and financial returns for the videos you put out there. What’s more, you can now use trackable television and streaming advertising to target specific individuals, locations, and demographics and cross-reference that with your CRM data – so you can understand exactly how your ad performed.
Takes Up a Lot of Resources
We get it, with marketing teams often being small, it can feel like you won’t have the time or ability to manage a video marketing campaign. By partnering with an experienced video production agency, however, they can take the pressure off your shoulders. They can manage the budget, timescales, creative brief, filming, and edits. This means you can focus on developing a distribution strategy and ensuring your videos reach the right people. If you’re doing it in-house, however, you can also make the process easier for yourself by planning as much as possible, doing research, utilising project planning documents, and ensuring you determine core milestones and objectives. Using these planning documents will help you manage your resources, and it’s going to ensure that your video marketing project keeps on track and saves you heaps of time.
Conclusion
Hopefully, by now you have a deeper understanding as to why video marketing is important, and why it should be utilised within your 2024 marketing strategy and beyond. Incorporating video into your marketing efforts not only enhances engagement and conversion rates but also improves SEO and brand awareness. Despite the perceived challenges, the benefits far outweigh the drawbacks. By planning carefully and possibly partnering with a professional video production agency, you can create impactful videos that drive results.
If you would like any more information at this stage, feel free to get in touch with us. We’re here to help you harness the power of video marketing and achieve your business goals.
If you’d like to see how we’ve helped other businesses with their video marketing projects, check out our showreel.
