As the old adage goes a picture is worth a thousand words.
So where does that leave video? The medium that combines them both.
According to a study conducted by Forrester Research it makes one minute of video worth approximately 1.8 million words.
Even those with the most extensive vocabularies have to concede that video is fast becoming the most sought after content.
Whether for news or entertainment, people’s dependence and wish for video content is increasing at an exceptional rate.
YouTube alone receives over one billion unique monthly visits and Facebook’s attempts to corner the market led to an average of 3 billion daily video views at the end of 2013; although that data is somewhat warped by Facebook’s auto-play feature.
Still, such growth is the greatest testament to video’s rising prowess. A rise which is mirrored by the growth of platforms such as Vine and Snapchat- video creation software that highlights the growing popularity of consuming and creating video.
As with any form of content though, quality is key to success. Especially if you want to derive a serious return on your investment.
An amateur video can be more detrimental to a brand than no video content at all.
In fact, the overwhelming expenditure on video marketing by the world’s largest companies demonstrates their desire for quality content.
Red Bull’s ‘Space Jump’ is one such example of the extraordinary lengths the world’s top companies will go to for exposure; and it seems to pay off. The stunt was worth allegedly £100 million to the Red Bull brand, reached a record 52 million web views and helped Red Bull to a 7% increase in sales in the subsequent six months.
But it’s not just the big boys who are utilising video content to great effect. Just as video is now the most accessible form of content to the consumer, it’s also increasingly accessible to businesses of all sizes.
To effectively incorporate video into your content marketing you no longer need a Hollywood-esque blockbuster of a budget.
On the contrary, even start-ups with the smallest budgets can enjoy great success.
The Dollar Shave Company is just one notable example of this, having generated 13 million views following their low budget 2013 ad– that didn’t require anyone leaving terra-firma.
Still there was nothing amateur about the ad. The key to their success was the ads great creativity and professional look.
But ‘going viral’ isn’t the only way to successfully incorporate video into your content marketing strategy.
There are a number of ways that businesses of all sizes can utilise video to great effect.
For example, something as simple as short ‘product videos’ can have an immensely positive influence on people’s perception of a brand.
Research from ComScore suggests that people who view such videos are 84% more likely to purchase the product viewed.
Further research into this area has found that:
– Stacks & Stacks customers who view video are 144% more likely to add to cart (Internet Retailer, 2011)
– Shoeline.com saw a 44% increase in conversions after adding product videos (Internet Retailer, 2009)
If it’s not conversions you’re after and your aim is to improve your traffic to your website, then it’s worth noting that video appears in approximately 70% of the top Google rankings. With email click-through rates improving 96% when the content includes a video; so it might be time to incorporate a film into that newsletter.
For those who frequently spend time dealing with customer queries and the same old FAQs, video can help with that too.
Dell found that after introducing video support alongside their FAQs section customer support queries dropped by 5%.
So it’s no wonder that video is considered the medium of the moment. The opportunities it can generate and problems it can solve for businesses of all sizes demonstrates the effectiveness of video marketing.
Producing video content is a savvy investment to make. After all, the consumer demand for such content is only set to grow- with research indicating that by 2017 video will account for 69% of consumer traffic.
So don’t miss out, it’s time to upgrade your content marketing strategy by incorporating video.