If you’re a business that’s relied on tried-and-true marketing tactics like articles, buyer’s guides and paid search, it’s time to follow proven strategies that are getting a great return on investment. According to emarketer, 62 percent of businesses cite articles as getting the best ROI worldwide. Right behind featured articles, performer, scoring 52 percent.
Here are just some of the reasons why video is achieving such an impressive ROI.
You can track it
Compared to the 16 percent of marketers who successfully track metrics of non-video content, 43 percent of video marketers can track its metrics across a variety of mediums, like social media, a blog and website. With video, businesses can track how long viewers watch a video, score leads, and incorporate engagement data into customer relationship management systems, and then make course adjustments as necessary to get a better return.
It drives B2B
B2B marketers are also seeing success with video marketing. In B2B Magazine, a study showed that 53 percent of businesses were satisfied with results from video, as compared to only 51 percent for social, 47 percent for games, and 46 percent for live events. Further, when making buying decisions, B2Bs turn to video more than 50 percent of the time. When B2B tech buyers look for information, they turn videos at a surprisingly high percentage: 95 percent. Eighty-two percent of these buyers engage with videos by sharing them or posting them on social media sites.
Video is a unique type of content that pairs well with almost every other type of marketing strategy. For example, you can pair a video with a registration page, landing page, survey, and more. Videos also work at almost every stage of the buying cycle, too, from attraction to engagement to conversion.
Consumers are drawn to video for a number of reasons. They’re more attracted to visual content (like videos or graphics) than text-only deliverables, and they respond to the visual story told in videos. Videos are an inherently more effective way to tell a story, and get consumers to remember a story. As such, businesses who create a brand voice to compel an audience to action with videos get effective outcomes.
It gets results
All of these benefits are well and good, but it often comes down to cold, hard numbers when businesses make marketing decisions. The good news is, video marketing gets ROI. Businesses using best practices get these kind of results:
- Improved conversion rates: 7.6% (versus 4.5 percent for the industry average).
- An increase every year in unique website traffic: 23% (versus 8.8 increase for the industry average).
- An increase every year in revenue growth directly attributable to marketing: 17% (versus 5.6% for the industry average).
- A growth in revenue in general: 20% (versus 6.8% for the industry average).
Small businesses struggling to generate a return from their marketing efforts are wise to turn to video marketing, as it’s a proven way to increase leads, traffic and revenue. For businesses without video as an arsenal in their marketing toolboxes, it’s time to consider how to work videos into the mix. For businesses not yet seeing ROI with video, expert help can drive efforts toward a higher return.
No longer is the question, Does video marketing work? The question is, How will a video marketing strategy fit into how my small business does marketing? The answer to that question will help you get a return on investment like those following best practices.