Gone are the days where witty copy and glossy creative are enough to bait and hook new users. Today consumers want and expect more. They want compelling, visual content. They want a connection. They want video. Read below for the top four reasons brands should be spending more on video marketing.
We’ve all seen it. Brands that have elaborate, overdone static creatives plastered across their Instagram page. Their ads consist of text heavy graphics that were all the rage in 2013. As a modern marketer you have to shake your head and wonder if they really think this content is attracting new customers.
If you’re a brand and you aren’t investing in video marketing in 2021, you’re doing it wrong. There’s no other way around it. Let’s look at some stats.
According to recent reporting, the number of businesses using video as marketing tool as increased by 41% since 2016.
Over 93% of marketers who use video today say that it’s an integral tool of their marketing strategy in comparison to just 78% in 2015.
The most commonly-created types of videos are explainer videos (73%), social media videos (67%), presentation videos (51%), sales videos (41%) and ads (41% and quickly climbing). This further proves that the rapid growth of video spans far beyond the walls of social.
7 out of 10 marketers say their video budget will increase this year after experiencing unprecedented success with the art form in 2020 and 24% used video in their strategy for the first time in 2020. While there were surely those who slashed marketing and production budgets due to the pandemic, those who made the call to increase came out with the win.
If I haven’t convinced you just yet, I’ve listed out the top four ways video can not only increase your revenue, but how it can serve as a driver behind brand awareness and audience growth.
1. Increase Social Performance
Video on social is currently proving to be the most powerful business asset for increasing followers, brand awareness and yes, driving sales.
The heavy hitters (Instagram, Pinterest, Facebook, Twitter and LinkedIn) have all recently shifted priorities to video as its first choice of content and it has been its top performing as well. It goes without saying that this has always been TikTok’s forte.
Video is typically the top performing piece of content because of the fact that it’s able to capture a viewer’s attention for a longer duration of time. The longer a piece of content is viewed, the more likely the platform’s algorithm will share said content to a wider spread audience. Think about it. How long do you stare at a static image in comparison to a video that automatically starts playing once it’s in front of you?
This has directly resulted in the fact that video content receives the most engagement on Instagram and why there are over 2 billion video views on Twitter daily.
Earlier this year, Pinterest CMO, Andrea Mallard, noted how their platform plans to attract marketers with a new approach on video and content creators. “We want to continue to invest in video to provide our users with more dynamic experiences, like how-to tutorials, and more engaging, immersive storytelling from brands. So we are taking these first important steps to build a creator ecosystem around story pins so that a new generation of creators can create great content and enrich the lives of pinners.”
Videos also have a greater tendency to circulate amongst users for a longer time period compared to competing content. If you’ve posted a Reel, you’ve probably noticed that its performance continues on a positive trend for days, and sometimes weeks, before hitting a plateau. That being said, video content has the immediate potential to reach a wider audience over a larger period of time.
When it comes to posting video on social, avoid cookie cutter tendencies. The same square formatted video isn’t meant for Instagram, Twitter, Facebook and LinkedIn. Each platform deserves its unique variation of a video. This doesn’t mean you need to create four different videos, but should be strategic about how you go about cutting micro content from what’s already been shot.
For example, an online learning platform is looking to showcase their new course. The full course will live on the site behind a pay wall. They’ll create a :30–1:00 trailer for ads, post behind-the-scenes content from the course shoot on IG stories, share a snippet from the course instructor on their Instagram feed explaining and showing some of the top takeaways from the course, and post a press release and 2–3 minute trailer on their LinkedIn. All from preexisting content. Welcome to the world of micro content.
Video on social is a no brainer. When done right, it has the ability to not only maintain an engaged audience, but can serve as a powerful tool in acquiring new users.
2. Low Cost, High Return
“This is great, but how does this help bring in profit?” Say no more.
I want to be clear about this section’s title. Not all video is low cost. As a producer in the industry, I’m one of the biggest advocates for investing the proper amount into content, doing it the right way and finishing with a polished piece of art.
On the contrary that 1.) isn’t always an option given budget and 2.) isn’t always needed.
Throughout my career in social marketing, I’ve learned that not every piece of content needs to be glossy and perfect. *Please note that this does not mean it doesn’t need to be high res. High res, always, like your life depends on it.
With the emergence of influencer marketing, IG Live and Stories, TikTok, etc., we’ve started to understand that video doesn’t have to be cinematic to be compelling. Let me say that again, video does not have to be cinematic to be compelling.
The most recent example that comes to mind is the ROAS (return on ad spend) that I saw come in from a brand’s paid social ad. For context, the original video being used was from an influencer testimonial, which was paid for by the brand. Once the influencer went live on their channel, the brand then sent this piece of content to their in-house creative team to turn it into a paid social ad (branded watermark, end card, adding the influencer’s handle, etc.).
The edit took maybe 30 minutes, export time included.
The brand saw a 256% ROAS.
My biggest takeaway here is to not overthink it. You don’t need a 5-person crew and an outrageous studio rate to film video. Be creative, be gritty and focus more on what your audience is asking for as opposed to what you think would make a cool commercial for your brand.
UGC (user generated content), brand ambassador programs that intertwine content creation exchanges and repurposing influencer content are just a few ways to keep the cost of production low while still leveraging video.
3. Creating an Internal Content Hub
This is something most brands sleep on. First, what is an internal content hub?
Call it what you will. Content hub, content library, the place where you keep all of your unorganized, unlogged content and send the poor interns into the deep abyss when something is needed. I digress.
Chances are, there’s going to come a time where someone in a meeting says “hey, what about using a part of XYZ video from 2019 for this?” and everyone stares around the room wondering where the heck they’d even begin searching for the final asset let alone the raw files and b-roll.
Every single piece of content that is created by your team should be stored internally with both the final files and working files. That takeover with a brand ambassador could have had a hard hitting quote that could be turned into an ad. The one product shoot you held in 2020 could be the only high res video content you have to leverage in 2021.
My point here is that every piece of video content holds value. If not now, it will later. Log it, store it and keep it organized as you build your video empire.
4. Building a Brand!
If you’ve made it to the last point, I thank you, and you’ll be rewarded with my favorite point of all: brand building.
There is undoubtedly no better way to tell the story of your brand than doing it through the use of video. This is your opportunity to showcase who you are as a brand, what you stand for, the faces behind it all and so much more.
It can all be a bit overwhelming to process, so I typically segment this part into a few categories:
Product/Service Videos: Straight and narrow to the point product videos. Every brand needs them although these aren’t going to be the showstoppers on social. In fact, I wouldn’t even use these for social. These live on your site and can potentially be used in email. If you’re a consumer product brand, create a short, detailed video on every single product you offer and the pain points it solves. If you’re an events company, create a video for every single event you hold, what’s included, how they differentiate, etc. This should be stop number one on your video creation timeline.
Hybrid Videos: The fun videos. These have the ability to showcase your brand with some personality flare. Reels are the first example that come to mind. Think subtlety, yet engaging.
Franchise Series: Recurring content that goes live on the same platform consistently. Examples include a weekly Live Q&A with the CEO, “This or That” games on IG Stories leveraging the native tools within IG, “Where in the World are We now” series for a travel brand. You get the point. Create some concepts and stay consistent enough in creation to keep them going. It’ll keep people coming back.
Behind the Scenes Video Content: Possibly one of the most seamless types of content you can create, yet the most undervalued and underutilized. Believe it not, your audience does care about the people and processes that keep the lights on behind the gloss of it all. Employee spotlights, behind the scene takeovers during shoots or events, taking them to the facility where your product is made and going live. It all matters, cost nothing, and shows your audience that you’re more than the black and white selling points.
Sponsored Content: A dual modality that satisfies the brand and the partner involved. If you’re looking for a way to 1.) increase exposure and 2.) do it at the expense of another brand or company, consider creating a sponsorship process within your content department. This not only helps get that 5-episode docuseries you’ve always wanted to make done, but allows you to cross promote with another brand, which means collecting new leads and potential consumers.
Video is the art form of the moment. I say this consistently across my work because it’s the truth. No other piece of content is going to transcend the presence of your audience as well as video nor will anything come close to bringing your brand to life.
Invest in video. Do what works well for where you are at the moment. Plan to expand your strategy over the coming months and take note of what works well for your audience.