Video Marketing: The Ultimate Guide 2024 -Tips to Grow Your Business

Why video marketing? When launching a campaign, you aim to engage as many potential customers as you can to promote your brand, product or service successfully. Statistics show that the engagement rate for visuals, especially video, is much higher than for text or audio.

You can include video marketing in your marketing strategy in many ways. From online advertisements to customer testimonials and many more, video marketing can serve your marketing campaign in many ways.

Video content grabs attention and drives action unlike any other medium. An incredible 92% of customers now report engaging with branded video monthly. Yet only a fraction of businesses have tapped into video’s immense potential for awareness, lead generation and conversions. Why is that?

Most assume video seems too complex, expensive and labor-intensive to produce at scale. However, advancing technology and best practices make implementing high-impact video marketing very accessible in 2023 even with modest budgets.

Follow our comprehensive guide to unlocking the immense power of video for your brand this year. We’ll overview actionable tips around ideation, production, optimization and measurement guiding you to video success. With the right strategy, any business can now land on that coveted first page of video search results and delight audiences in under 60 seconds. Let’s dissect the key trends, formats and platforms shaping video’s future. It’s showtime!

Why Is It Beneficial?

Today, the benefits of video marketing exceed the benefits of many other forms of marketing. Because of its ability to connect with the audience and incorporate all other forms of content into one, video marketing has a wide range of benefits in promoting ideas, products or services. As your primary goal is – of course – to make money through your business, a fact to keep in mind is that customers are 70-85% more likely to purchase after watching a video about it.

Works Wonders for SEO

Posting your videos on YouTube means great things for your Search Engine Optimisation (SEO). The video will help boost likes, shares and backlinks to your site. Google uses time spent on your site to determine if your site is useful to customers searching a certain term or phrase. The more time spent, on your site through video the more Google interprets this as a sign that you are providing the appropriate information. Also, remember that YouTube is owned by Google, so focus on tagging your videos on YouTube and take full advantage of SEO.

Conversion Rates Go Higher and Higher

Your conversion rate equals the number of audience members that comment or reply per post. You should aim to have a high conversion rate because that means that you’re reaching your target audience and they’re talking about your product or service. Video marketing will increase your conversion rate since people are more likely to talk or buy your product if they see a video of it.

Increased Accessibility All Over

A block of text is not always the most appealing means of communication. Most people would rather watch a video than read an article about the same thing. The incorporation of images, audio and text in one medium means that it is accessible to a larger sector of people and increases the likelihood of customers coming across your product.

It is important that your video caters to the number of different learning styles like visual, aural and kinesthetic. The more you provide for the more people that will check out your video content. 

Highly Effective

You can grab your audience’s attention in many ways but it’s about what sticks with them after that. Through video marketing, your viewers are more likely to remember something about your videos in the long run and ultimately your marketing strategy is more effective. 

Touch Their Emotional Side

Attempt to appeal to the audience’s emotions as well as logic. Videos can make use of the emotional angle more than any other medium through music, visuals and other effects. You can appeal to a person’s emotions by simply adding a face to the brand, and trying a more personal approach. Whether you get them weeping tears of sorrow or laughter, use the emotional connection of a video to benefit your business.

At the end of the day, videos are a means of entertainment and it is up to you to make use of it in a way that sends your idea or message. The more entertaining your video is, the more likely they are to watch, like and share it. Build Connections and Relations

Video marketing helps you build connections with your audience and touch on the idea of trust. Many corporations’ ultimate goal is to develop trust with their audience, an idea that is bound to be effective in the short and the long-run. Depending on the kind of videos you decide to publish, you will be able to give your viewers a behind-the-scenes insight and a clearer idea of what your brand is really about.

Guaranteed ROI

Making use of video marketing will not only affect the way your customers feel about your brand, but also what they do about it to eventually lead to financial benefits. As we’re living in a technologically advanced world, creating a video no longer requires expensive technology and programmes.

Considering that your videos are mostly going to be viewed online, customers are not expecting top-quality videos. Businesses should always strive towards as good quality as possible as you will reap the rewards for putting the effort in. Eventually, this will lead to an increase in your sales and a  higher return on investment.

Thank Goodness for Mobile Marketing

Through video marketing, you will be able to reach your customers almost anywhere at any time. Thanks to modern technology and the widespread use of mobile devices, people are constantly watching videos on their phones.

Watching a video on your phone or tablet usually means that you’re watching it in full screen, and your entire attention is directed towards it. That way, you can ensure that your viewers are fully encapsulated with your video experience. On the other hand, even if they are watching it on a desktop while multitasking, the audio factor still comes into play.

Video Marketing for Business Growth Statistics      

Consumer Statistics:

It is important to look at what your consumer want, these statistics should help. 

• The average user spends 88% more time on a website with a video.
• 92% of mobile video viewers share the videos they like with their friends.
• 51% of marketing professionals believe videos are the best ROI.
• People can remember 95% of a message from a video compared to only 10% from an article.
• Marketers who incorporate videos into their strategy gain 49% more revenue than marketers who don’t.
• In 2017, 69% of all consumer internet traffic came from Internet video traffic; that number will increase to 80% by 2019.
• 79% of consumers prefer watching a video about the product over reading about it.
• According to Aberdeen Group, video marketers achieve a 54% increase in brand awareness.
• 84% of consumers bought a product after watching a video about it.
• About 50% of consumers look for a video before visiting a store.
• 91% of consumers watched an explainer video to learn more about a product or service.   

Social Media Statistics:

Social media is a great tool to boost your video content to a larger audience. 

• 26.4% of marketers say that Youtube will be their main video sharing platform in the next year.
• More than half of Youtube video consumption is done through mobile.
• 10 billion videos are viewed on Snapchat per day.
• Videos on Twitter are six times more likely to be retweeted than photos.
• Youtube users share 400 hours of video every minute.
• 90% of Twitter video views are through mobile.
• 82% of Twitter users watch videos on Twitter.
• People watch more than 500 million hours of video content on Youtube each day.
• 49% of consumers watch branded videos on Facebook, 32% on Youtube, 24% on Instagram, 22% on Snapchat and 22% on Twitter.  

Developing a Video Marketing Campaign

Video marketing is nothing new, for years generations have been tuning into TVs and watching movies. However, thanks to mobile devices and the internet, we can now use video marketing to make money! If you plan to use video marketing you should develop a video marketing strategy, decide whether or not videos are going to be the core focus of your campaign, and what other means of marketing you will want to include as well.

In terms of video marketing, there are numerous types of videos you may choose to create. You can create a product explainer to show how your product is used in real life and provide a more approachable sale. You can also decide to create a customer testimonial video, and show what customers really think of your product or brand. In many ways, you can choose to converge more than one type of video in one! The more creative you get, the better.

In this next section, you will learn how to develop a video marketing campaign. Just like any other marketing campaign, you will need a lot of planning, and many hands to get the job done! If you wish for video to be the centre of your marketing campaign, here are some steps you can follow and a few ideas of what you need to keep in mind.

Conduct Your Market Research

Every marketing campaign has a blueprint, in this case, your video marketing blueprint consists of your market research. Surveying the market for trends and highlights gives you an advantage when releasing your video marketing campaign.  Keep these questions in mind when conducting your market research:

• Who is your target audience?
• What is the goal?
• Where is the going to live?
• When are you going to publish?
• What is your budget?

Create Your Strategy  

Once you have gathered your market research, it’s now time to develop your marketing strategy. This is where the magic happens. Your video marketing strategy includes understanding the types of videos your market needs, and how you are going to meet your customers needs. Here are a few types of videos you can choose to incorporate in your video marketing strategy that will enhance your campaign’s results:

• Brand Storytelling: this is your chance to show your company’s bigger, larger vision and mission, and provide the ideas and feeling leading all your products and services.
• Explainers: showcase how one of your products work, this could be done in various forms depending on your product and its nature.
• Educational Content: if you need your customers to understand something in order to influence them to buy your product, this is where you should be heading. Teach them something, and make your product the solution to the problem you pose.
• About Us: sometimes it is more effective to make your viewers understand more about you, rather than what you want them to buy. Take them on a tour of the office, or interview the CEO and provide them with a closer look on the inside.
• Advertising: this could be done on its own, or as part of a bigger video marketing campaign. Take a product, and make it the centre of your video in order to generate exposure and eventual sales.
• Promotions: creating a time-sensitive promotion is an effective way to generate quick, and immediate sales. To announce this and spread it amongst your target audience, you can use video marketing as a means of communication.  
• 360-Degree and Virtual Reality: using this new and hip type of technology is enough to gain a lot of attention today. Using 360 degree videos you can take your customer on virtual tours and give them a chance to experience your product or service in real life.
• Augmented Reality: similar to virtual reality, augmented reality is the full immersion experience. Your viewers will be totally amused by your creation and will definitely remember something from their augmented reality experience.
• Event Videos: hosting a live event sometimes limits your audience reach to those who attend it. Taking videos of the event means that you can use the footage to replay to other customers and encourage them to come to other upcoming events.
• Animations: not only children are amused by cartoons, animations can grab almost anyone’s attention. It doesn’t have to incorporate cartoon characters and a plot line (although it could), you can use animations and graphics to make anything appealing.

Developing your video marketing campaign is only the first part, now it’s time to try everything in real life. To get the best results, most corporations hire a video production company who will help them create quality content and help reach their target sales. Begin your search for your production company, keeping in mind your budget and style of production you want. Here are some examples of video production companies around the world that you may choose to contact:

• Frozen Fire FIlms
• Hive Studio
• Skeleton Productions
• Bruce Clay
• Blue Corona
• Stickyeyes
• TwoFour54
• Red Creek
• Indigo Productions
• Cambridge Filmworks

Understand, Analyse and Change

Once you publish your videos, your job isn’t done. To keep track of your videos performance and learn how to improve. Keep looking at these aspects to understand what you’re doing right and where you’re going wrong. Take a look at these metrics for each of your videos:

• View Count – the number of times your video has been viewed.
• Play Rate – the percentage of people played your video divided by the number of impressions received.
• Conversion Rate – the number of visitors that completed your action divided by the number of clicks on CTA.
• Click-Through Rate – oftentimes people click your CTA divided by the number of views.
• Video Completions – the number of times a video is played till the end.
• Bounce Rate – single-page session on your website.  
• Time on Page – the amount of time viewers spend on your page.
• Completion Rate – the number of times your video was watched entirely divided by the number of people who played it.
• Social Sharing and Comments – how many people share and comment on your video through social media.

Challenges of Video Marketing

Compared to the struggles many marketers had to face before, you’re at an advantage. Creating videos no longer requires a huge budget and a highly skill marketing team, but if you want to go all the way, here’s some things you should keep in mind and may be little bumps along the way.  

Cost

Making videos could be really costly, the cost of equipment, the editing software and hiring the people will have the skills to get the job done all adds up to take a significant place in your budget. Also, at the hand of the consumer, watching videos online could take up data that they would rather use for something else.

Marketing Team

Gathering a skilled marketing team could be challenging. There might not be as many people with the talent and creativity to put together the videos you need for your video marketing. It is important that your marketing team and video production team are on the same page and share the same vision.

Get Started!

Your first video marketing campaign might not be your greatest, but you have to start somewhere. 

Which is why you need to publish, analyse, edit and repeat with every video marketing technique you try. Keeping all the information above in mind, now it’s time to get started on your video marketing campaign! Remember that creativity is key and innovation is not too far from your reach.