Boost Your Business with Video Marketing
Competition remains stiff in all industries. Any edge a company can obtain benefits them in numerous ways, yet many business owners find they don’t know where to start to move ahead of their competition. Business video marketing is one way to do so, but only when it is done right. Why is video marketing for companies of such importance, and how can one incorporate this technique into their overall marketing plan?
The Benefits of Video Marketing
Adform recently conducted a study, one which found that rich media adverts tend to attract consumers. In fact, Adform found that the click through rates increased by as much 267 percent when compared to rates seen with traditional banner ads. Experts believe this is due in large part to the premium location of the ads on various publisher sites, the larger sizes, and the high impact format. Individuals cannot miss these ads and therefore are more likely to click through on one which interests them.
Engagement rates vary by campaign also, and businesses need to keep this in mind when developing their marketing strategy. Engagement rates for rich media mobile campaigns came in at 16.85 percent in the Adform study, much higher than the 2.14 percent seen with standard banners. Mobile display ads lagged behind both rich media and standard banner ads, coming in at only 1.62 percent. This trend continues in other areas also. In-screen impression percentages remain highest for rich media banners, coming in at 66 percent, and the average play time tends to be longer, when compared to regular video ads. Users must click on the rich media ad before it will play, and this affects engagement rates.
Marketing analysts point out that CTR rates do vary by industry. Rich media sports ads tend to achieve the highest click through rates, 5.29 percent, with style and fashion coming in second, with a rich media click through rate of .74 percent. The same holds true for engagement rates, although the gap isn’t as wide in this category. News rich media advertisements typically have the lowest click through and engagement rates.
These trends don’t occur in all areas, nevertheless. Although sports leads in the category of in-screen impressions, personal finance takes second place. News actually leads all categories when it comes to average engagement time, with news coming in second here also. These two industries also take first and second, respectively, in the category of average play time.
Imagine watching your rates increase in every area. With the help of rich media ads, you easily achieve this goal. In fact, eMarketer predicts companies will spend $3.73 billion this year on this type of advertising, an increase of 41.7 percent. Although growth is expected to slow slightly next year, to approximately 38 percent, rich media advertising spending is expected to still hit $5.15 billion. Surprisingly, this will only account for 7.14 percent of digital ad spending in the United States in 2014 and 8.8 percent the following year.
Now that you know how effective rich media ads are, you may wonder how to incorporate videos into your overall marketing plan. There are a number of ways to do so, and following are a few you may wish to use.
Explain a New Concept to Consumers
Individuals love to upgrade their electronics on a regular basis, yet may hesitate to do so, thanks to the high cost of doing so. Envision a world where components from the current device may be used to create a new one, one which also incorporates the newest technology. Imagine how quickly these devices would sell. Now apply this concept to one or more items you have available for customers.
With the help of rich media, you’ll find you can get a concept across that consumers may not otherwise understand or fully grasp. With the help of hand-drawn style elements and fluid animations, you can explain the concept step by step, answering questions consumers may have. The video ensures consumers understand exactly what makes your product or service different and how it will be of benefit to them.
Many make use of GoAnimate or Powtoon to make this type of video, as no experience is needed to do so. Before you try your hand at this, however, you’ll want to create a script for the video. Have a few people not affiliated with your company or industry read over this script, as you want to ensure others can easily understand the information being presented. Avoid technology and industry jargon while creating this video also, to ensure it appeals to a broad range of individuals, the ones most likely to be searching for what you are offering.
Tell Your Customers a Story
Think of the best commercials you have seen on TV. Chances are they tell you a story. Remember the “God Made a Farmer” ad produced for RAM Trucks, the one with Paul Harvey’s voice in the background. If you haven’t been fortunate enough to see this ad yet, check it out. It’s one you will recall for years to come and yet barely even mentions the product it is trying to sell. You want to recreate this effect with your ads. Although consumers won’t learn much about the actual trucks in the ad, most will find something they can relate to. Remember this as you create your own ad, and find something your customers will relate to when it comes to what you are providing.
As you go to create an ad, do so using one of many services designed for this purpose. Some opt to use a program such as Keynote or PowerPoint, music, and photos to create the video, yet others opt to create their corporate video marketing using a service like Animoto. Doing so allows the user to create the video and then upload to their website or to social networks. Determine which is best for the type of video you wish to create.
Silence Is Golden
In direct contrast to videos telling a story, consider making a video with absolutely no words. Here you demonstrate the benefits of your product or service without any sound, letting it speak for itself. Imagine videos that pop up on social media sites when you have your phone turned down. Effective videos allow you to figure out what is going on, even if you never turn the volume up. This is what you are trying to replicate with this style of media marketing for businesses. Real life footage is often good for this type of video, especially when the video has a happy ending.
A number of apps allow you to capture video of this type, although many do limit the video in terms of size. Instagram Video is one such app, but those who want something longer may choose to make use of Cameo. With this app, a user can take a number of short videos, connecting them to make one long one, one that flows from scene to scene seamlessly. Many who use applications such as this on a regular basis find they wish to explore using this technique, expanding their skills over time.
Allow Consumers a Peek Into Your Company
The Social Network, a movie about Facebook founder Mark Zuckerbert, grossed almost $97 million in the United States alone. Many wonder what made this movie so popular, and the answer to this question is very simple. People are fascinated by those who make it big in an industry and how they managed to do so. Everyone must start somewhere, therefore learning about how someone made it big interests most.
If you wish to give your customers an insight into how your company started, make use of Code School. With this program, you’ll find you can share this information with customers through business marketing using video. Everyone opening their own business dreams of being successful, and your video demonstrates to them that they can, that you started out as an average person with big dreams, and they can too, based on where you are now.
Many, rather than trying to travel to various locations, make use of programs like Skype to conduct the interviews. They then record and edit the resulting work, although some of the polish and style seen with professional videos will be lost. Most find this to be perfectly acceptable, as it gives the video its own unique charm and personality. Every business starts with one step, and you are showing what this step is for the interviewees.
Make use of video business marketing wherever possible. Doing so allows you to appeal to the widest range of customers. If clients don’t like one video, they may pass on it completely. With numerous to select from, however, odds are they will click on the one they do like. Potential customers also prefer rich media videos, as they find they can learn a great deal in a short period of time. Don’t overlook this marketing strategy. With outstanding business marketing videos, ones you can make at very little cost to you, you’ll find click through and engagement rates go up, and the same is true for in-screen impressions and average play time. The more videos you put out there, the more attention you will attract, and that is the important thing.