Why Video Should Be Your Next Major Investment
Video is the future of marketing and sales. There’s no doubt about it anymore — from prospecting videos to social media content to webinars to product demos and more, customers want to engage with your brand in video format.
Cisco reports that by the end of this year, video content will account for 82% of all online traffic. The amount of online video people watch has nearly doubled since just 2018.
More than 90% of digital marketers now say video is an important part of their strategy and the large majority report it earns them positive ROI. The pandemic has accelerated video’s rise even more, making online events, meetings, and messages the norm.
The takeaway: your company needs to be utilizing video as part of your marketing and sales strategy. If you aren’t already doing it, video should be a major investment you make in the very near future.
Let’s explore 6 of the most important reasons to get on board with the video era, including ways video can drive real growth for your business.
- Video content has high-impact applications at every stage of the funnel, including initial engagement, lead conversion, retention and more.
- Video creation is now both affordable and accessible for every business — it does not require formal production experience or expensive equipment.
- Consumers prefer video over text for learning about new products and services.
- Today’s average consumer watches a staggering 13+ hours of digital media content daily.
- Video content drives business growth through better lead generation, higher conversion rates, and increased customer engagement.
4 Reasons You Should Invest in Video
You’ll use it at every stage of the funnel
A major benefit to video adoption is its end-to-end applicability across the marketing and sales cycle.
Video is now an essential part of content marketing, which has transformed top-of-the-funnel engagement over the past decade. Nearly three-quarters (73%) of online users report they prefer video for learning about new products and services over text. Prospecting videos are also growing in popularity as a way to stand out in the crowded inboxes of high-potential leads.
Online events like webinars and conferences have broken down geographic limitations to event engagement and created new opportunities to convert new customers and retain existing ones.
In other words: use cases for video are wide ranging and impactful. It’s not an investment that will be limited to one team or one step in the sales process. When you adopt video, it can help to transform your entire growth strategy.
It’s affordable and accessible
Gone are the days of expensive video equipment and high-level production experience being necessary to execute a video strategy.
While both of those things can and should be used in certain scenarios (think feature videos for your website or complex online events), most video content can be created using equipment you already have and with limited formal experience. For example: High-quality webinar events are executed all the time using slide decks and a Zoom meeting room.
Prospecting videos can be created using built-in webcams. Social media stories are created with iPhones. The world’s most well-known brands are joining in on popular video trends on “casual” platforms like TikTok.
A recent survey of video marketers found that more than half spend under $300 per video created, and a third spend less than $100.
Your company’s video strategy needs to be well-executed, but it doesn’t have to be complicated or expensive. If you’ve had hesitations about video content for these reasons, it’s time to let them go and get on board with the affordable, accessible options available for every business.
It stands out in a world of content overload
The average professional now receives 120+ emails daily. Adults consume a whopping 13 hours of digital media content every day. By 2024, the amount of online video people consume will surpass TV. One recent survey found that people are watching video while they perform other tasks throughout their day — checking email, working out, eating a meal, and commuting.
This is the most straightforward reason of all to make video your next major investment: people want to consume it, and they already do for more than half of their day every day! Creating video content is simply a smart strategy — it’s meeting customers where they are, and engaging them with the exact type of content they want to see.
It shows high ROI potential
The numbers don’t lie when it comes to video ROI in marketing and sales. HubSpot reports 87% of marketers say video earns them positive returns, and 86% say it’s specifically effective for generating leads. A separate study found that close rates increased by 50% for sales reps who leverage prospecting videos and other video content as part of their process.
Ultimately, investing in video impacts your bottom line for the better, increasing sales revenue and driving overall company growth.
Our outbound email software and lead generation services are custom-built for startups, consultancies, marketing agencies, and other B2B organizations. Schedule a quick call with us and find out how we can help you win more clients.