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Impact of video marketing is rapidly growing: companies looking for ways to make video production cheaper and more effective

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Posted March 22, 2018

Long gone are the days when the entire marketing was understood as a static form of business-related content, often presented as a promotional article or a simple advertisement. Currently marketing takes on new technologically-advanced forms that have potential to bring not only more efficiency for the business owner, but generally is more acceptable to the consumers as well.

Producing video using dedicated crew and specialized equipment has never been cheap. Image credit: Bill Rice via Flickr, CC BY 2.0

This effect is essentially achieved through greatly increased levels of interactivity. Many experts agree that internet use is constantly shifting towards mobile devices, such as smartphones and tablet computers, where consumption of dynamic content – especially in a form of video – has gained a dominating position over the recent 5-10 years. For example, Cisco Visual Networking Index states that the global IP video traffic should reach 82 percent of all consumer Internet traffic by 2021, while the number of video information consumption should grow from 3 to 4 times compared to the present time.

What these statistics mean for businesses? One thing is obvious: a fast transition from the ‘classic’ types of content marketing to the video marketing is a necessity in order to retain the competitive edge. Even today, including a video in your marketing campaign has a substantial potential to increase sales or customer reach. According to Forbes, 64% of customers are more inclined to purchase the product online when they have a chance to watch even a short video about this product; 90% of customers say video helps them to make right decision when selecting their purchase.

Although levels of adoption of video marketing varies among business entities, as many as 81% of companies use videos to increase their brand awareness, engagement, lead generation, and sales. This number is staggering, considering the fact that the video production brings additional costs that can be quite significant, especially for small-to-medium businesses. So it’s no wonder that companies are looking for new ways to reduce associated costs.

One good example of how software companies are reacting to this video content cost reduction trend is the case of EasyHi and their innovative product Promo video maker. Compared to regular video making tools, this subscription-based online service simplifies and streamlines the entire creative process by using readily-available components, such as fully-licensed collections of video, audio, and graphic elements, which can be used to construct high-quality video clips.

Even though the level of creative freedom when using the above-mentioned tool is not the same as when hiring the video-making specialists, the total budget for video-based campaigns gets reduced to a minimum, while the time required to get the final piece of content and make it work is decreased from days (maybe months) to sometimes just several minutes.

And what about the efficiency of the video marketing? It is surely logical to measure the ROI or return on investment of every visually-enhanced marketing campaign. But for this purpose you also do not have to hire someone to do the job, nor should you worry about making your video viral. There are specific and easy to understand key performance indicators such as time on landing page, CTR on landing page, etc., and if you use YouTube or similar service to host your videos, these platforms typically have user-friendly control panels and visualized analytics that help to tune in to the needs of the potential customers.

If you still have doubts about how complex the video marketing is, just remember that the bigger (and more expensive) rarely is the best solution of them all: videos up to 2 minutes get the most engagement, and you should put the most effort into just 3 first seconds of your video content to capture and connect with your audience.

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