The business value of video content
Video has become the stand-out form of content over the last decade for a number of reasons. With the current and projected changes in consumer behaviour and technology, the flexible power of video is highlighted as the preferred tool of choice for marketers and brands looking attract new customers and boost their business. Here we offer some examples of different types of video content and their uses to demonstrate the potential of video for your business.
Your customers prefer Video to other forms of content
According to Wyzowl, when asked how they would rather learn about a company’s product or services, 69% of people said they would prefer to watch a short video. This stands in contrast to 18% who would rather read a text-based article. Furthermore, people today are also twice as likely to share video content with friends than any other form of content such as articles or social media posts. With its massive variety of uses, it is of no surprise that people prefer video to all other types of content. Videos are engaging and entertaining at the same time. This is because videos are easy to access and have the highest relatability of all forms of content. Essentially, video makes it easier for the consumer to identify with a brand’s vision, product and services.
Why marketers are taking notice
As consumers are being increasingly drawn to video content, so too should today’s marketers. A staggering 84% of people say they have been convinced to purchase a product by watching a brand’s video. Similarly, 87% of marketers also report how video has increased traffic to their websites.
Types of video content
Demo & How-To Videos
Both act as great educational sources of information for potential customers, providing them with excellent customer service. They equip customers with the knowledge needed to gain an understanding of the brand’s identity as well as taking the viewer on a tour of products and services. Adobe utilises this to great effect with programs like Adobe Rush providing tutorials on how to use its software, pitched at various levels depending on the experience of the individual.
Brand videos showcase a company’s vision and mission along with its products and services, with the goal of showcasing their driving ethos and building awareness and curiosity around their brand. Sometimes shot as a long-form video, they can use an engaging story to keep the viewer connected while infusing the company’s messages throughout. See below for an example from Patagonia, who do this well with their long and short-form videos which display their values and selling points through stories and mini documentaries.
Case Study / Customer Testimonials
An excellent way to showcase a company's strengths and displaying to potential customers that they are a good fit for their requirements. Gathering testimonial videos showing satisfied customers will put the minds of any unsure potential customers at rest, while working wonders for a company’s reputation.
If a business is hosting an event of any kind designed to drive awareness of their offering, they may want to produce a highlight reel or some other video documentation of the event. This will extend the reach of the event, giving viewers an engaging update on the status of the brand. An example of this is the various rich media pieces created by the V&A Museum with the aim of attracting more visitors to their collections, including the adoption of trends such as ASMR to boost the popularity and reach of the video.
Brands may choose to conduct interviews with either current staff, influencers or customers in order to further publicise a product and provide some insight to viewers on the quality of a product/service. This also gives an insight into the inner workings of a company to demystify it, and to inject personality into a business that may appear faceless without an element of human interaction.
With their strong visual capabilities, animated videos are an excellent format for difficult concepts or for displaying a fun, creative side to a company’s identity. Mailchimp has produced a series of great examples - view one below.
Most social media platforms include the Live feature. Be it through Facebook Live, Instagram’s live stories or Twitter’s fleets capability, live video gives viewers a special, interactive behind the scenes look into your business. According to a 2017 study by Forrester, users watch live video 10-20 times longer than on-demand video, and there is an element of exclusivity about these videos that make viewers feel as though they are privy to a one-off event.
360° and Virtual Reality Videos
With 360° videos, viewers are able to scroll around the content, viewing it from every angle. Offering a spherical view, it allows viewers to experience a location or event. It is commonly used in sports coverage, nature and heritage display and destination-based advertising. An example of this the video below, produced by National Geographic.
Virtual Reality allows viewers to navigate and control their experience. VR can be experienced through devices such as the Oculus Rift and Google Cardboard. This technology is used in a variety of sectors, including education, architecture, interior design, real estate and tourism to name a few.
This style of video utilises a digital layer which is added to a current view of the real world. An example is the IKEA Place app which allows you to see what a piece of their furniture would look in your home.
The sheer amount of uses to be had for video content is a key contribution to its success. As technology progresses, the capabilities of video can only increase as time goes on.
where is video content being consumed?
The vast majority of the population are on social media these days, and there has never been a more online space to advertise products and engage audiences. Over time, social media has evolved during the last decade with an increasing emphasis on accommodating video content. It not only provides an excellent platform for content but also offers the opportunity to comment and kickstart a conversation.
Meanwhile, the massive social reach and viral potential of video has long been recognised by social media platforms like Facebook and Instagram. Sites like Twitter and LinkedIn, platforms known for their textual content, have also been gradually optimised for video. In fact, as of 2019 videos had generated more than 300 million impressions on LinkedIn, while Twitter recorded over 2 billion views per day. There are also the obvious additions of YouTube, Snapchat and TikTok which are all comprised of video content. As YouTube records 2 billion active users alone, social media has cemented itself as the optimal environment for video marketing both now and for the foreseeable future.
Video for Future Generations
From Baby Boomers, to Generation X, to Millennials, the desire to consume video content has gradually increased. However, enter Gen Z. Cisco estimates that video will account for 82% of global internet traffic by 2022. This is a substantial rise from 75% in 2017. The main reason for this is the changes in consumer behaviours. As stated in a previous article, Generation Z has been a major drive in the use of video in marketing. They now make up 40% of the consumer population as of 2020 and this figure will likely continue rising. Another example is the influencer market, which relies on video to establish a connection with their following, which is typically younger people. As the younger generations age they become more aware, consuming more content and becoming more likely to purchase goods. As younger generations are clearly engaged by video content, the evidence suggests the upward trend of video will continue into the future.
Video has become a crucial part of marketing today. It is flexible, can be used to engage audiences in many industries, and comes in a wide variety of forms to fit any marketing requirement. Its effectiveness in engaging new audiences and establishing a connection with the customer is also second to none. It has become one of the keys to attracting future generations, and provides a solid return on investment when used effectively.
Read our other articles in our series on video marketing here:
For more information on how video can work for your business, see our video production services. Get in touch with one of our friendly team on 01787 388038 or email firstname.lastname@example.org.