Video Marketing is simply using video content as part of your marketing strategy to try and meet your objectives as part of a campaign.
There is a multitude of ways you can include video formats in your content and marketing strategies, including the likes of:
- Client/Customer Testimonials
- Explainer videos
- Review videos
- Live streaming
- User generated content
- ‘Thank you’ videos/Milestones
- Social videos
- Blog videos
The list goes on…
However, we’ve all seen the hype around Video Marketing and the results it has provided for some businesses. So, you’ve done a bit of digging and seen some horror stories; companies being overcharged for minimal work, overextended turnaround times and ultimately unappetizing results.
So, the questions come to mind:
- Is Video Marketing effective?
- Is Video Marketing viable?
- Can Video Marketing work for my business?
To answer the first question, Is Video Marketing Effective? Yes.
As of right now over 78% of people watch online videos every week, and 55% view online videos every day. (HubSpot)
And, if that doesn’t entice you to start your video marketing journey then you might be intrigued to know that “YouTube is the second most trafficked site, after Google” (Alexa.com)
What makes Video so effective is its versatility. One decent sized video can be used across every shareable platform and can be utilized in many ways e.g. cut it into shorter clips for social media snippets, cut out slightly longer segments to leverage/support statements on your website and you can, of course, upload the full-length video to YouTube. It all depends on your objectives.
One good way you can leverage video to form Sign ups is to use and informative video on a subject, as a lead magnet allowing the user to ‘unlock’ the content after signing up for your email newsletters.
In response to the second question, Is Video Marketing viable? Like anything, this depends in the quality of the outcome and therefore the quality investment you put into it. That being said –
“59% of executives say they would rather watch a video than read text.” (Wordstream)
This being one of many statistics that support video content as the best performing media content by a longshot.
(Sprout Socials Facebook stats)
Furthermore, there are 5 main ways you can generate revenue/value from a solid Video Marketing campaign. 3 direct, and 2 indirect.
The 4 predominant ways you can make money directly from Video Marketing are:
- Direct sales
- Platform Advertising
- Traffic
Direct
Direct Sales
Let’s assume you have made a video selling a product or service. The viewers watch its entirety and click on your Call-to-Action at the end. This takes them to your product or landing page and they make a purchase. There you have it, a direct sale. Simple right…
Platform Advertising
Platform Advertising, although this has recently become much more difficult to do due to the recent changes to YouTubes monetization guidelines.
“the eligibility requirement for monetization to 4,000 hours of watch time within the past 12 months and 1,000 subscribers.” (YouTube)
However, if you are one of the select few with YouTube accounts that meet the eligibility criteria then you will earn on average 2-4 USD ($) per 1000 views. Although this amount may not increase your bottom line very much 1 viral video hitting 1,000,000 views could grant you roughly 2000 USD ($) and that’s just for people watching your video.
Traffic
Traffic is basically when you’ve managed to direct someone towards your website and maybe they didn’t buy the product that was shown in your video, but they may still buy something else instead or worse case scenario they don’t buy anything, however you have gained a valuable lead that you can begin to influence and lead down your sales funnel.
Indirect
The 2 indirect methods of making money/generating value through Video Marketing are:
- Branding
- Organic Traffic
Branding
If you make a high-quality video with good and positive messages this will reflect on your brand accordingly which can further manifest in sales down the line. Maybe the viewer isn’t interested in the product you’re advertising right now but could be in the future.
Organic Traffic
It’s a well-known fact that Google loves videos. Websites with video content tend to rank higher although it is important that this video is hosted on your domain. Make sure your metadata, keywords and video sitemap are up to scratch and you’re off! These steps will allow Google to index your video and then you can encourage a click by using great copy and an enticing thumbnail that makes people want to click.
So, the final question. Can Video Marketing work for my Business?
Simply, yes! There is such a broad spectrum of ways that you can approach a Video Marketing campaign and there is bound to be one that suits your business and can provide you with results.
