Over the past few years, there has been a continuous growth in the demand for businesses to use videos as part of their marketing strategy. In fact, it’s been shown that using videos to explain your business can be a make or break for consumers. According to a recent study done by Animoto, 25% of consumers lost interest in a company if it didn’t incorporate videos about their business or product. That’s a significant amount of business to lose from not using video marketing. So why has there been such a tremendous growth in the demand for video marketing?
Based on Animoto’s research, consumers would much rather watch a video about a businesses products or services than read about it. With an on-the-go mentality, a quick sixty second video is much more attractive and fits the busy lifestyle of consumers today rather than reading lengthy and time-consuming articles. Consumers also benefit from watching videos about products by learning how they work and what they can expect before making a purchase. In the study, Animoto found that watching a video about a product or service is most helpful for consumers when deciding whether or not they should make a purchase. In fact, eighty percent of consumers enjoy a video that explains how the product or service works whereas fifty percent of consumers said that they enjoy a video with testimonials to help them through the purchasing process.
This demand for video marketing is only going to continue to increase. According to eMarketer, an independent market research company, $7.8 billion dollars will be spent this year on video marketing alone. By using videos, businesses are able to more quickly and efficiently connect with their consumers.
When it comes to social media, videos have proven to increase consumer engagement. Whether it is via email or through social media channels, consumers shows a greater interest in posts or newsletters including a video than ones that do not. Do you use video to engage with your customers?
Based on this research and the results that Animoto has gathered, it is clear that video marketing is going to become a critical part of every businesses marketing strategy, With the demand for video marketing on the rise, bus will be faced with the challenges of making their videos more compelling and more engaging than those of their competitors. Thankfully, you don’t have to be a video producer to make awesome and creating videos about your products or services. Apps such as Animoto, Prezi and Camtasia are just a few of the many video marketing tools that you can use to create videos that connect with your consumers.
Check out more statistics from Animoto’s research on video marketing here.