There are numerous reasons why video marketing is critical for your business, including brand identity development, website traffic generation, and lead generation. Revenue growth is also at the top of the list, as marketing is ineffective unless you convert enough sales to sustain your business. While video can help you build a social media following, capture the attention of your target audience, and earn the trust of potential customers, these accomplishments are largely meaningless unless they result in revenue.
As such, it’s critical to understand the role video plays in revenue generation and how it outperforms other content formats in terms of revenue growth.
Video aids in the decision-making process for your prospects. Nowadays, an increasing number of people use the internet to research products and determine the best option for their specific needs. Video informs them of their options and assists them in making decisions. They require visual demonstrations of products in action in order to make informed choices, and text cannot adequately convey features and benefits.
Video entices visitors to linger longer on a website or landing page. Visitors who watch your video content are more likely to stick around and navigate to other pages, review other products, and become acquainted with your company. The more time they spend on your site, the more exposed they are to your offerings – which increases their likelihood of making a purchase.
Video content has a higher retention rate than other types of content. When asked about online videos they’ve viewed in the last 30 days, the vast majority of internet users recall the information contained within the video. Even better, many of them follow through after viewing. They conduct additional research on the subject, visit a website, or conduct an internet search to learn more about the company that produced the video.
After watching a video, more people will purchase a product. When viewers see a video promoting one of your company’s products, they are 64 percent more likely to purchase it. Product demonstrations are an excellent format for video because they demonstrate how you solve problems and meet your target audience’s business needs.
Video increases engagement, which results in increased sales. While it’s difficult to enliven text content sufficiently to entice prospects to read a lengthy article, the visual and audio components of a video will captivate them. The critical point to remember is that your imagery and sound must have energy in order to capture and maintain viewers’ attention throughout the duration of the video.
With video, you can reach a larger number of mobile users. The Pew Research Center reports that nearly two-thirds of Americans own a smartphone. They consume an enormous amount of video on these devices daily, and you can effectively reach them by presenting your content in the format they clearly prefer. You’ll capture and hold your prospects’ attention – even more than they do when watching video on a desktop or laptop.
When you consider how critical revenue is to your business’s survival, it’s easy to see why you can’t afford to overlook the opportunities presented by video marketing. Naturally, video complements your other content marketing assets, enhancing their efficiency and effectiveness. This results in an increase in your online exposure, allowing you to reach a larger portion of your target audience. Video is one of your most effective marketing tactics due to its role in increasing revenue and achieving other business objectives.
