Video Marketing

With the growing popularity of social media, the demand for innovative marketing strategies increases as well to match consumer demands. A marketing method that significantly grows consumer awareness is video marketing. Use of videos on social media increases the brand’s engagement with its online audience and builds trust with its customers, unlike other traditional methods. Using video marketing is a great way to communicate your brand’s story, mission, and purpose.

Two of the top reasons why marketers should use video marketing include increased brand awareness and increased engagement among consumers. Research has shown that consumers retain sixty-five percent of information for three days longer when the information was accompanied by a visual aid. The importance of this statistic is that your brand will be on the top of people’s minds for longer. Your product will be the first solution when a consumer has a problem and is in need of a solution. Videos are a great method to use on social media platforms such as Facebook, Instagram, Snapchat, and Twitter. Since videos are the most effective method to communicate information to consumers, launching a well-produced video is crucial to growing your brand.

It is incredible that Facebook users watch five-hundred million videos each day, and ten billion videos are watched on Snapchat. These are two platforms that have the potential to increase your brand awareness significantly.

Compared to reading long text descriptions about a product or company, it has been proven that videos are a more effective tool when communicating information. Four-hundred percent as many consumers prefer to watch a video than read a text description. This is especially useful when launching sponsored ads, newsletters, or blog posts because the viewer is more likely to watch it compared to reading a text ad. It’s no surprise that consumers would rather watch a quick video to learn about a product instead of reading a long page full of text.

The use of “explainer videos” is an excellent method to use when breaking down a complicated process, explaining how product features work and communicating the benefits of your company due to their personal nature. “74 percent of people who get an opportunity to see a product in action via an explainer video will buy it.” (Wyzowl) Being able to teach complex concepts to consumers in a friendly manner compels viewers to take action.

In 2012, Dollar Shave Club debatably launched the most successful and effective explainer video of all time. The title of the video was “Our Blades Are F**king Great”. Their risky approach having their founder explain their shaving club in a humorous manner using swear words, visual gags, and off-the-wall references really paid off. They spend a minimal amount of money on their videos, yet they reached over 20 million consumers. Within two days of launching the video, over twelve-thousand people signed up for their service. Dollar Shave Club has disrupted the marketing world by using social media marketing outlets such as YouTube, Facebook, Twitter, and Instagram to spread the word about their products. Dollar Shave Club’s success can also be attributed to their word of mouth marketing that followed the launch of their videos. Their videos transformed a boring product such as a razor into a funny and memorable experience. Their brand was brought up in conversations across the world, whether it was on television talk shows, news channels, or simply in conversations among friends. Videos can not only be effective at creating conversations, but they can cost significantly less than other marketing methods. Traditional methods used by Gillette and P&G’s strategy of investing a lot of money on R&D and TV advertisements to market their products. The video cost them four and a half thousand dollars to create, similar videos created by other companies would have cost roughly fifty-thousand dollars.

To expand on Dollar Shave Club’s use of word of mouth marketing, this form is so valuable because consumers trust it more than any other marketing form. “92% of consumers believe recommendations from friends and family over all forms of advertising.” (Nielson) Therefore, if you launch a video that gets people talking, you are sure to bring in more buyers.

When companies launch their videos on social media platforms, they must take several aspects into consideration. The first aspect you must consider is your Target Market. You must fully understand your audience and target market before launching your video to the world. You must create content that aligns with the trends of these groups and use channels that they are most likely to be using daily. The tone of voice needs to connect with the target viewers in order for them to be compelled to take action.

The second aspect to consider is the cost. After you understand your consumers, you can create a marketing campaign that is personalized to their tastes and avoid unnecessary costs. For example, if your target market is Millennials; creating short videos for Snapchat, Twitter, and Instagram will be better than TV advertisements. Be careful, social media platforms including Facebook, Twitter, and Instagram charge companies significant amounts of money to launch video advertisements on their sites. The costs of implementing these ads are well worth it. In some cases, consumers are not presented with the choice to skip the ad during the videos they are currently streaming. Determining the optimal platform to launch their videos is crucial to successfully reach their target consumers and to avoid unnecessary costs.

The value that video marketing brings to companies has increased significantly over the past several years and will continue to grow with the popularity of social media. Video marketing provides marketers endless opportunities to grow their brand and connect with consumers, it will be interesting to see how this method of marketing continues to grow and adapt to future trends.

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