Do a quick search on the Internet to see what kind of return on investment (ROI) you can expect for marketing videos and you’ll find astounding figures that will probably make you wonder why you aren’t using them already.
Nowadays consumers want to see video content that explains what products offer. As a result, an increasing number of marketing professionals will tell you that marketing videos for business offer the best ROI for content.
There’s a lot of research data out there that shows this to be true. For instance, Forbes cites research that shows 65 percent of business execs are visiting vendor websites after watching their marketing videos. Hubspot’s marketing stats show that consumers who saw a product in a video are twice as likely to buy it than those who didn’t watch the video. Their stats also show that company revenue is likely to increase by at least 49 percent if their marketing team used good videos to promote products. If that’s not enough to convince you, more than half of marketing people who took part in Hubspot research were convinced that video content provided the highest ROI.
Insight From a Research Report on the ROI of Video Marketing
A few years ago the respected UK-based Aberdeen Group cautiously reported that video was a “significant and growing part of the content marketing mix”. The company’s research showed that the “best-in-class” marketers of content were very likely to use videos for marketing and that those companies that already followed this route generally reported “better performance”.
The Aberdeen report analyzed why good videos for business would result in conversions and ROI for companies of various types.
Starting with the presumption that “facts tell, but stories sell”, they noted that both sales and marketing information could make a much clearer and more powerful message. Another factor was that the cost of producing good quality marketing videos had dropped. Further, while 44 percent of companies were known to outsource video production, even those that chose to go the in-house route were contributing to the trend that is making marketing videos a more regular part of the way products and services are marketed.
Their research report noted that the creation of video content often requires a lot more work than any other form of content for marketing. But unlike PDFs and infographics, videos are portable and can be tracked and distributed across a range of different channels.
When it comes to measuring the ROI of video marketing the professionals at Aberdeen looked at website conversion of content into something that could be sold. They found that the cost of leads was about 25 percent less for companies that were using videos for marketing. Additionally, they concluded that the companies that chose to use videos needed 37 percent fewer unique site visits to get a lead or marketing response.
Taking a slightly different stance they pointed out the importance of companies being able to out-perform their competitors in terms of:
- Providing information
- Entertaining
- Teaching
The report recommended that if companies weren’t already using videos for marketing they should consider doing so immediately.
Tips to Improve Videos for Business
Just using videos for marketing is going to help, but there is always room for improvement. For instance, marketing videos for business should:
- Be original so that they give your business the edge over competitors.
- Promote conversion to your product with a call to action.
- Be used to assess the interest of viewers and effectiveness of your marketing drive.
Good video management is also key, and quality is essential.
There is no doubt that video marketing is huge, but you really do need a good video if you want it to result in conversion and provide you with a decent ROI.
Atlanta Media Pros are video production specialists who understand the value of video marketing. Call us now and ask how $750 can get you four minutes of content.