If a picture is worth 1,000 words, a video is worth many times more than that. And when used creatively in marketing, a video is also worth big bucks.
Digital consumption trends have shifted heavily toward video over the past six years. According to eMarketer, the average US adult now spends one hour and 17 minutes each day watching digital video–up from just 39 minutes in 2011–and half of that is on mobile devices. Video is so ubiquitous that most online users expect email and social media posts to include a shareable video they can view on their computer, tablet or smartphone.
How ubiquitous? According to the venture capital firm KPCB, online video now accounts for more than 74 percent of online traffic, and half of video content is viewed on mobile devices. More than 78 percent of people watch an online video at least once a week, while 55 percent of people say they watch an online video every day, according to MWP Digital Media.
The benefits don’t just go to monetized videos about cute kittens and laughing babies, either. When included as part of a marketing campaign, video can be the determining factor in generating more leads and sales. And because they are getting easier to create and distribute, videos can have a tremendous impact on ROI. Consider:
- An email containing the word “video” in the subject line increases open rates by about 19 percent.
- Viewers stayed on web pages 2.6 times longer than they did on pages with no video.
- Four times as many customers prefer video about a product over the same information in writing.
- 59 percent of executives say that when both text and video are available on the same topic, they are more likely to watch the video.
- According to a 2009 Forrester Study, “Pages with video are 53 times more likely to rank on the first page of Google search results.”
- Viewers retain 95 percent of messages delivered via video–compare to the 10 percent retention of written messages.
- Marketers who use video see their revenue grow 49 percent faster than non-video users.
But there’s a big difference between making a video for your product or service and creating something customers will watch, share and spread by word of mouth. A stationary talking head looking straight into the camera won’t do it. Instead, think of those real estate videos that give viewers a walking tour of the house. Home listings that include a video receive 403 percent more inquiries than those without.
Are “Viral” Videos the Only Winners?
Don’t make the mistake of thinking that in order to be successful, a video has to “go viral.” It’s great when it happens but it’s difficult to predict. The focus, instead, should be on making a useful, entertaining or enlightening video that promotes your product and brand. According to Wistia, videos of up to two minutes in length get the most engagement. Even if it doesn’t go viral, a video will generate three times as many monthly visitors to a website as plain text.
To figure out if videos are working to bring in new leads, marketer AJ Agrawal says to watch these metrics:
- Time spent on a landing page.
- Percentage of viewers who watch the entire video, not just the first few seconds.
- How many viewers respond to your CTA.
- The number of shares and subscriptions.
- Which videos are the converted leads watching?
Cross-posting your videos on YouTube gives you even more insight with Google Analytics. With videos on the web and YouTube, you can easily tell which subjects and styles are creating engagement across channels and adjust your video strategy accordingly.
Need more convincing? Globally, 52 percent of marketing professionals believe video is the type of content with the best ROI. Would all that video be showing up in your inbox and on websites if it wasn’t producing the ROI those businesses need?
Now that you know why video is a great tool for your marketing toolbox, dig deep to discover the value of your other marketing efforts with our free Marketing ROI Calculator. Check it out!