The Advantages Of Video
Like many small to mid-size business owners, you may not have a video, but it’s certainly time to get one. Entrepreneurs can sometimes be hesitant to have video as a part of their strategy because the Return on Investment (ROI) can seem unclear, they wonder how it will help them get customers, and they are unsure if it’s really necessary. Yet, it is clear. Video is too powerful a tool not be taken advantage of. High-quality video can provide powerful ROI, it builds your brand trust, and in 2017, video can’t be ignored.
1. Provides Powerful ROI: The data is clear, video will give you an excellent return on your investment. According to just some of the data gathered by Business 2 Community:
- Those who watch a video on a website are 64% more likely to buy the product.
- 50% of all people that viewed an online video went on to make a purchase.
- 73% of those using video report positive results to their ROI.
A Positive ROI has been proven through video over and over again. Even though video production takes creative thought and focused effort, the payoff is well worth it. Dollar Shave Club spent just $4,500 on their first video and from that small investment the business received 12,000 new orders in the first 48 hours.
2. Builds Brand Trust: Trust is the foundation of the relationship with your customers and video is a powerful tool to build that. High-quality video is one of the strongest validation tools people use to decide if your product, service, or place of business is right for them. According to Etailing Group’s study, 57% of consumers say that videos gave them more confidence to make a purchase. Video is an easy way to put a face to the business, by showing customers the employees, the CEO, or the facilities. A video may explain what the product is or how it works, or provide heartfelt testimonials from satisfied customers. These all help the viewer understand what you do and who you are, increasing their trust in your brand.
3. Video Can’t Be Ignored: Video is everywhere; on gas station pumps, in the back of taxi cabs, airports, restaurants and bars, and most importantly everyone’s pocket. The power of the multiple screen exposure on phones, computers as well as televisions makes video content impossible to escape. Video, with its immense power to inspire, entertain, and teach is generally viewed as the most interesting and engaging advertisement for a viewer. Demographics are not an obstacle in online video marketing as videos are popular in every age range. With targeted development of both video content and placement you can also target any key demographic you choose.
What are you waiting for? You have potential customers or clients right now that are shopping around and may easily come across a competitor that has a high-quality video that can hook them. Do you?
It’s easy to get started and a small initial investment can pay off quickly. Set up a meeting with your marketing department or start brainstorming with your team. They will be excited and may already have some awesome ideas for videos you can have created to start to spread the word about the great work you do.