A well thought corporate video production made especially for your business is not only the best way to communicate with your audience, but it can also increase conversions. It is a strategy that is increasingly being utilized by businesses around the world. The year 2020 saw almost 90% of businesses include video in their marketing campaigns. A global internet forecast report has predicted that by 2023, 82% of all internet traffic will be video traffic!
Time spending online
Since the pandemic has started and stay-at-home mandates have been put in place, consumers, in general, have had a bigger increase in their online activity, as much as 30% in the last year. When it comes to the online content activities of users, a mind-boggling 90% of them are watching videos. An average of 3 hours and 20 minutes are spent on social media platforms daily which is the main source of researching brands.
A smart business will use this opportunity to improve consumer engagement, click-throughs, and site traffic with an appealing and informative video. Video marketing can help your business reach new heights. However, when it comes to corporate video production, always opt for specialists who are competent in creating high-quality videos that can boost your brand visibility.
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How video dominates the online marketing world?
Numbers always paint a better picture when it comes to drawing up business and marketing strategies. There are many studies, reports, and statistics vouching for the unparalleled power of video in bringing new consumers and churning out revenue.
Let’s take a look at some percentages which demonstrate how people consume video content. Also, check the effect it has on business value and brand connection.
- 76% of businesses saw an increase in website traffic after including video.
- 94% of businesses report that customers have increased their understanding of their products and services through demo videos.
- 83% of businesses agree that video provided better returns on investment.
- Video marketing strategies increase website traffic by 84%, lead generation by 81%, and dwell time on websites by 80%.
- 57% of consumers are more confident about a purchase after watching the product demo video.
- Videos convinced 77% of consumers to buy a product while it made 74% of them learn about new products and subsequently buy them.
- Videos on social media generate 1,200% more shares compared to text or images. Imagine the amount of reach this achieves!
When an overwhelming 90% of public consumers are agreeing that corporate and brand videos are helping them to make their buying decisions, it would be foolish not to cash on it. Of course, the content noise is also increasing and the competition to stand out is also getting tough. Still, it would definitely pay to sharpen the video production strategies.
Why video production is important for businesses?
When we watch videos, we retain the information longer. Simply put, it is a richer and easier experience to remember rather than reading text or glancing at an image. As video consumption statistics skyrocket, brands too are preferring to present their services, products, and ideas in the form of a video.
1. Video is one of the most effective marketing tools
Corporate video production makes visually appealing information that is easily understood keeping viewers interested. A video can explain any product or service better than other mediums. The appealing visuals of the video are capable of better engaging your target audience. Besides, messages received through video are retained longer and more accurately. All this contributes to increase the purchase intent of a consumer and driving brand awareness and recognition.
2. Video increases sales margins
The majority of consumers today look for a video before buying a product or opting for a service. These are videos of product demos, service explanations, reviews, recommendations, how-to, explainers, etc. For a business, this means that video production increases the likelihood of capturing the attention of not only the target audience but a bigger market as well. You are giving them what they want and, in doing so, reaping all the benefits that video marketing provides. Marketing campaigns that used video production grew their conversion rates by 20% and their revenue 49% times faster.
3. Video effectively portrays the brand identity
Along with revenue, the other most important thing for any business is brand identity. The recognition of the business brand is equally important as the awareness of it, it leads to brand loyalty. Visual representation strongly shows the personality of a brand; it allows viewers to identify with the culture and vision of a business, and understand what the business can accomplish. Marketing campaigns with a video increased brand awareness by 54%.
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4. Video content keeps you on top of search results
The top ranking on search engine results pages comes from good content. Now, if a business includes a video on the landing page, the consumers who prefer to learn about services or products via video over other formats consider its good content and therefore, spend more time on the page. The search engines, in turn, connect this factor to the presence of excellent content and boosts the rankings of the page.
5. Video can explain any concept clearly
Visual cues are good at demonstrating and explaining any information about all kinds of products and services. This is why video is better than text alone when it comes to understanding something. No matter who your target audience is, they will prefer to watch an explainer video rather than go through an instruction manual. This is especially true for technical or medical products, software, or financial services.
6. Social media platforms are more receptive to branded videos
Social media is an essential domain for online marketing. The consumer of today is interested in everything that is trending on either Facebook, Instagram, LinkedIn, Snapchat, Twitter, or the YouTube channels. The best part about these platforms is their substantial reach and their preference for sharing videos. People like to share videos on these platforms if they are informative as well as entertaining.
Social media videos can guarantee new customers according to 93% of marketers. For a business, video production for social media should be a high-priority campaign strategy when 1 in 3 is looking to social media for brand information. For example, around 80% of the Australian population are now active social media users. It is an impelling and coercive means to increase brand consciousness and engross your audience. This rings true especially when 73% of buyers admit to being influenced by the social media presence of a brand.
Video production is about successfully combining great ideas with equally great execution. It has to be useful and informative and at the same time engaging too. This winning combination stands to make consumers happy who will then reward you for your investment.
Give your video production the edge of improvement
There are many studies that show how people watch videos without sound, prefer vertical over horizontal videos, etc. This does not mean that your video marketing can sacrifice the quality of sound over visuals.
Consumer today expects their experience to be optimized for efficiency. They want options of using multiple senses depending on the context. In short, your brand’s corporate video production should be faultless. This is achievable through diversification and regular testing.
First, definitely focus on the need for short and speedy videos for mobile consumption, however, creatively diversify to include all viewing patterns. This is to say that along with 30-second snackable videos also opt for longer interactive and immersive videos.
Second, you cannot measure the results of video marketing by the duration of a video alone. Rather you should measure the business value of a video in terms of its creativity, type of platform, and audience demographic. Measuring the right factors allows variety in creatives. It also makes fine-tuning video production for better results cost-effective, with faster turnaround.
Third, don’t lose sight of the end goal. Your videos should attract views, drive traffic back to the website, and generate new leads. Just producing a video and posting it is not going to get all this done. Promoting the content is of paramount importance, think cross-channel promotion, making the video shareable, including it in email marketing, etc.
Again, corporate video production is not just about making videos, it is about achieving the benefits that video production brings to a business. This is where a professional video production agency rises above the others. Businesses can identify the right video production partner by the presence of these markers in a production agency’s strategy.
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Don’t let your business blend in with the rest
In a recent interview with Nic Hawkins, the Executive Director of Vmation, we have discussed the mentality and thoughts of professional video producers. As he stated,
“Reach a new audience, provide valuable information in an interesting way, and convert viewers into customers. The success of corporate video production, however, is heavily dependent on producing and publishing them in tandem with proven digital marketing strategies. This key criterion is why producers are obsessed with perfecting the art of corporate video production and why you should let them create one for your business.”
You have seen the data numbers and the verdict is that corporate video production works wonders for a business. What’s more, the people love it and will lap up quality content eagerly in the foreseeable future too. Accelerate your brand’s rate of relevance in a fast-changing world, start making a difference with corporate video production today!
