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Video marketing is almost a requirement in this digital age. Millions of companies, big or small, are dipping their toes into creating video for their social media accounts and websites. You can see this by the 25% growth in revenue worldwide for online video advertising in 2017.
Video content, in many cases, offers the best return on investment among other types of content. Digital content consumption has grown explosively in the past few years, thanks to modern devices becoming more and more accessible to consumers. Cisco predicts that globally, video traffic will account for 82% of all consumer Internet traffic by 2021, up from 73% in 2016.
In order to prepare for your video marketing over the coming year, the guys at Breadnbeyond have researched what happened in the video marketing industry throughout 2017 and made more than 30 predictions on the state of video marketing in 2018 across social media platforms.
But before we jump into that, let’s take a look at why you should start implementing video marketing for your business!
Videos Have Various Types of ROI
The return on investment from a video can come in many forms: leads, views, sales, search ranking—you name it. Video is now the most consumed type of content, with an astonishing number of videos being watched across multiple platforms:
Of the businesses who used video in 2017, 83% said they believed it provided a good return on investment.
You’ll never hear me say that blogging doesn’t have its place in content marketing, but the numbers show a growing preference for video for some types of content. For instance, 84% of consumers have been convinced to make a purchase after watching a brand’s video!
Videos Grab Attention in the Overflow of Social Media Content
Social media floods your timeline—there are new things to see every time you hit reload. There’s so much information to take in that we can only skim and scroll to get the highlights, stopping occasionally when something catches our interest.
Video has an advantage there, since more social media platforms provide in-app video playback in a full-screen frame. A good, eye-catching video thumbnail can be the difference in whether someone scrolls by or decides to watch.
People Stay Longer on a Landing Page with Video
Let’s face it: bounce rate is the enemy of every website. You can track yours with Google Analytics and see how many of your visitors click onto one of your pages only to almost immediately hit the back button or close the tab or just type in a new URL.
Highbounce rates are usually indicative of a disconnect between what your page is ranking for and what it’s actually providing. If a visitor lands on your page and thinks, “Well, that’s not what I’m looking for,” that’s a sign that improvements can be made.
The main problem with most landing pages is the overwhelming amount of text, so by focusing the visitor’s attention on a video instead, you increase the likelihood that they’ll stay. A survey found that 6 out of 10 executives agreed that if both text and video are available on the same topic, they are more likely to choose video.
Not only does video help keep visitors on your site, they can increase conversions by 80% or more. And pages and websites that include video have been shown to rank higher in search engines.
The State of Video Marketing in 2018
Now that we’ve talked about several reason why video content works for your business, let’s talk about how the video marketing industry will unravel in 2018. The guys over at Breadnbeyond compiled 30+ predictions about the state of video marketing in 2018 in this handy infographic for you:
Courtesy of: Breadnbeyond
Andre Oentoro is the founder of Breadnbeyond, an award-winning explainer video production company. He helps businesses increase conversion rates, close more sales, and get positive ROI from explainer videos (in that order). Download his latest guide to Choosing the Best Explainer Video Production Company and learn how to get the most value out of your explainer video.
Catherine has a degree in English literature and a passion for all things marketing. As Digital Specialist, her focus is on web design, search engine optimization, social media, online presence management, and project coordination.