7 Key Benefits of Video Marketing to Enhance Business Growth

In 2020, nearly 96 % witnessed an increase in their online video consumption. Furthermore, by 2022, the average person is expected to devote about 100 minutes, each day, watching videos.

These statistics emphasize the fact, whether you like it or not, video marketing is going to be a must-have approach for the expansion of business. Digitalization has increased the scope of competition in today's business world, making it tough for organizations to stand out in such a competitive market. Henceforth, the trend of video marketing gained popularity and helped many brands and big corporations to connect with their target audience at an intimate level.

Before diving right into the advantages of video marketing, let us have a look at a couple of the eye-opening statistics of video marketing.

According to a Statista survey published in 2020, 82 percent of teenagers and young people in the United Kingdom aged 15 to 25 use YouTube to access video material. As a result, video-sharing sites have become more popular than Facebook, Whatsapp, and Instagram.

E-commerce businesses experience 34% more online conversion in sales when they use video content compared to those who do not use video in their business,

Including video content in product purchasing platforms, reduce return rates by 25%.

Since technological advancements keep people busier, they do not have time to read lengthy descriptions of your company that describes your business. They simply want to invest in products that will impress them in a short period. A straightforward solution to this problem is to incorporate video content to demonstrate your innovation while underlining your USP (unique selling proposition) and generating a positive impact on your shoppers.

Moving ahead, let us highlight the key advantages of video marketing to understand the need for the concept in an efficient manner.

7 significant advantages of video marketing

Persuades buying decision

Visual content makes your product more reliable and gives a sense of authenticity to your company’s product by giving visual presentations of the product. Many consumers claim that product video encompasses their whole shopping process from pre to post-purchase. This opens a door of opportunity especially for small businesses to gain an edge over their competitors. By using effective and creative video marketing strategies small businesses can gain loyalty and build trust with their target audience at the initial stage.

To validate the above said, a recent survey by Animoto surveyed 1,000 U.S. customers and states that almost 73% nearly contributes to three-quarters of respondents, believing that a video explaining a product or services can positively persuade their decision of buying.

Takeaway tip - Businesses can use multiple video formats for the delivery of messages but how-to tutorials and testimonial videos are more impactful than any other format.

Offers greater ROI

As per the report given by Wyzwol, 89% of the marketers claim that video gives them great ROI, 83% assert that video provides lead generation. In the same report, 87% say that video increases traffic, and 80% agree with the increased sales.

Every business is competing for earning profit and such proven reports highlight the key achievement of video marketing strategy. It helps in getting a higher return on what you are investing in the form of traffic and leads on various platforms.

Video increases the chance of conversion rates because of the visual representation of facts and product details that helps in better comprehension of the brand’s identity and product usage.

Take away tip - Research about the needs of your audience and then invest in the right format according to the requirements.

Enhances Google rankings

Did you know that video has a 50 percent higher chance of ranking organically in Google than plain text results? Do you still have doubts about including videos on your website?

Nobody can deny that Google adores videos, and that merely including videos on your website or platform improves your chances of ranking on the first page.

Ranking on the top page will enable businesses to boost their visibility. This enables a better chance of reaching businesses' target audience and promoting their products in order to increase sales and escalate business growth.

On the other hand, adding videos is pointless if the content is of bad quality. Even if you rank first, if the quality of your video content is poor, it will not make a difference in making an impact on your customers. Hence, maintaining video content quality is almost as important as adding videos to impact and attract new consumers.

Take away tip - Adding transcripts in your video can assist you in ranking higher on SERPs (search engine results pages) because google signals transcripts more efficiently.

Increases purview of storytelling

Video storytelling is the new trend in the video market in which brands tell their story to their consumers to get attention and to form a personal bond with their target audience.

To continue, video increases the purview of storytelling because the video being an audio-visual medium dramatizes the narrative. When used various angles and background music, assist in making a better impression and help in grabbing the attention of the viewers.

On the same hand, choosing an effective appeal is a very important component that affects your narrative. Depending on your product or service, you can choose any appeal ranging from humor to emotional. Any appeal that relates the most to your business can be chosen in creating an impactful narrative for your brand.

Take away tip - Adding your whole team and your prominent clients to your narrative or storyline can increase the chances of hooking your audience for good.

Optimizes social media

Everybody is addicted to social media nowadays and pitching to your clients via social media is a great tactic to increase sales. To substantiate, nearly half of the social media users prefer video over any other form of content and 85% of the users demand more videos from brands.

To continue, short videos like Reels on Instagram and TikTok have become new addictions of social media users. There are millions of users who scroll on social media for hours and this opens a wide opportunity for businesses to make interactive videos and attract the attention of their target audiences.

When people see an innovative idea in your video, it creates an urge to know more about your brand. Along with this, users’ urge to visit your business increases and there are chances that generated leads might get converted into a loyal consumer through a video on social media.

Take away tip - Try to add a fun element according to your audience’s need in the first 5 to 10 seconds of your video to attain attention from viewers.

Escalates retention power

Consumers retain 95% of the message delivered through video compared to the 10% of a message while reading in a text format. This implies that visualization of the content in the video helps the consumers to remember the product for a longer time.

Remember, when you were learning the basics of the alphabet, your parents or teachers would show you various videos along with illustrations to help you remember the letters? Today, the visualization of your business’s message through a video can help your customers recall your brand. People talk about your brand when they remember your brand. This recollection of your brand will assist you in leaving an impact on your consumers which might help you in converting your business into a big brand.

Take away tip - Use one tagline or one kind of music every time because it will make a continuous flow of retention with your consumers.

Educates your customer

If you are bringing innovation to the market of your industry, it is crucial for your customers to know what you sell and why they need to choose your product above your competitors. In fact, according to a survey, 83% of people prefer videos to gain knowledge and access information rather than reading it in a text format.

Think of it as a cycle, better concepts of educating through video will lead to more engagement of your business, and there will be more customers who will be inclined towards making a purchase from your business. More purchases will lead to the expansion of your business and increase profit.

Take away tip - Create various lengths of video in order to hook your audience according to their preferred length.

To recapitulate, ideo Mand to invest in the appropriate video marketing format for accelerating their company's growth. These advantages will help you in understanding the concept of video marketing in a better way and will assist in earning profits in an efficient manner.