What is video marketing? Video marketing refers to the incorporation of videos in your online marketing strategies. How you can use videos in marketing, include: video blogs, tutorials, ads, demonstrations, reviews, and testimonials.
Benefits of Video Marketing
- Engages viewers
- It is easier for viewers to remember content in video form
- Videos influence buying decision
- Young people are enticed into purchasing services and products advertised through a video
Video Marketing Study by Brightcove
Production of videos that are in line with your audiences is crucial for better results. Studies have shown that viewers are more likely to engage with a brand after watching a video on social media platforms. It is also a fact that videos increase the intent to purchase by customers. A recent video marketing study conducted by Brightcove has also shown that:
- Interactive video content is about a third of all video content that is being produced currently.
- The study has also revealed that some of the challenges involved in video marketing include: time for production, limited resources, and incompatibility of the videos with some devices.
- 76 percent of buyers have indicated that they have purchased items after watching a video. Notably, 85 percent of these consumers are millennials in the age group 18-35.
- Around 21 percent of consumers say that they prefer video marketing over other forms such as email marketing, case studies, or text adverts because videos are more memorable.
- Around 45 percent of buyers overall and about 56 percent of young people claim that they are able to interact with video content better than other forms of marketing.
- 30 percent of young people want content with links that enable them to buy directly.
- 56 percent of buyers want to watch a video before purchasing electronic items.
- About 52 percent of consumers of household goods also want to watch a video prior to making a decision to buy.
- Software purchases to about 47 percent have also been related to prior watching of a demonstration video or a testimonial.
- When buying personal beauty products, about 27 per cent of buyers want to watch a tutorial on how to use the product or even a testimonial from customers who have tested the products.
Video marketing survey has indicated that young people prefer watching a video to reading content. Furthermore, most consumers are influenced into buying by relevant video content. It is expected that in the future, the use of video for brand marketing will be high. However, brands should use videos that are relevant to their target audience.