Online video consumption continues to rise globally. This popularity makes video marketing an important tool in any business strategy in 2021. In fact, according to Wyzowl’s State of Video Marketing 2021 report, 93% of marketers who use video say that it is an important part of their marketing strategy, 1% higher than in 2020.
With the average attention span dropping from 12 seconds in 2000 to 8 seconds today, businesses are looking for innovative solutions to retain existing customers and reach new audiences. Digital marketing videos capture attention. According to science, the human brain can process visuals 60,000 times faster than text. As a result, customers retain 95% of a marketing message when watching a video, compared to only 10% from text-based messages. These statistics expose the importance of video marketing in 2021.
This blog explores video marketing and how important it will be in 2021. We also highlight how your business can enhance its video marketing strategy.
What Is Video Marketing?
Video marketing is using videos to promote and market your product or service. Video content provides more than just entertainment; it educates consumers on your products or services, increases customer engagement with your brand and channels, and, above all, helps reach new audiences. In fact, evidence from Wyzowl suggests that people are twice as likely to share video content with their friends than any other type of content.
The possibilities for video marketing are near limitless. Digital marketing videos should suit the vision, goals, and needs of your brand and audience. Video content ideas include product or service demos, brand videos presenting an advertising campaign, event videos showcasing community outreach, expert interviews to increase brand validity, and customer testimonials to increase brand trust.
Why is Video Marketing Important For Your Business in 2021?
An Invaluable Marketing Tool
Video marketing is important in 2021 because of the wealth of benefits it brings. First and foremost, it is an invaluable marketing tool. According to Wyzowl, 94% of video marketers state that video has helped increase user understanding of their product or service. Additionally, 84% of people say they have been convinced to buy a product or service by watching a brand’s video. As a result, digital marketing videos provide a creative solution to educating new and old customers whilst also increasing sales.
Positive Return on Investment (ROI)
With many companies suffering from pandemic restrictions, brands are looking for new ways to deliver a positive ROI in 2021. According to Wyzowl, 87% of video marketers say video gives them a good ROI. Moreover, 78% claim video has directly increased sales. These figures expose the power video content marketing has in advancing your business and, therefore, its importance in 2021.
According to Zenith Media, the average person will spend 100 minutes each day watching online videos in 2021. This figure marks an increase from 84 minutes in 2020. Video content marketing, therefore, adheres to what consumers want. Also, it is important to recognise that people watch nearly 50% of all video on a mobile device. While this enables your digital marketing videos to be accessed almost anywhere, it reminds businesses to make their content mobile compatible.
Search Engine Optimisation (SEO)
The popularity of content marketing has soared in recent years due to its benefits in increasing business standings in search engine rankings. Focusing on video SEO and using keywords in your marketing content will increase the discoverability of your business.
One reason for making video content marketing important in 2021 is its ability to help measure the success of your business. Video content provides metrics that can help grow your business, such as view count, social platform interaction, video completion, click-through rate, and conversion rate. Measure these metrics against your Key Performance Indicators (KPIs) to understand what consumers want and improve conversion rates and sale numbers.
Video Marketing Platforms
YouTube is the world’s second-most visited website, as well as the second-most used social platform. It has more than two billion logged-in monthly users, or rather potential customers, and people watch more than a billion hours of YouTube videos a day. These facts alone expose the popularity of video content and, therefore, the importance of YouTube marketing in your 2021 business marketing strategy.
YouTube marketing is proven to advance a business. Studies have shown that 70% of viewers bought from a brand after seeing it on YouTube. YouTube provides two forms of advertisement. Firstly, you can upload content to your channel for free to promote and advertise your brand. Views, channel subscriptions, and account clicks, amongst other metrics, can indicate and measure success.
Secondly, your business can use YouTube’s various advertising options for sophisticated targeting. YouTube has three main types of video ads: skippable in-stream ads, non-skippable in-stream ads, and video discovery ads, plus non-video ads like overlays and banners. YouTube advertising offers your business the opportunity to reach existing and new customers. This reach is enhanced if you target your ads based upon user interests and history.
Other video hosting platforms include Vimeo, Wistia, and Vidyard.
Social Media Video Marketing
Video content marketing extends far beyond the realms of YouTube. Social media platforms, such as Facebook, Twitter, and Instagram, are valuable video marketing tools. As of 2019 and 2020, the average daily social media usage of internet users worldwide amounted to 145 minutes a day, revealing how important social media video marketing will be in 2021.
Digital marketing videos under two minutes typically reach the highest engagement level. Nevertheless, while two-minute videos are ideal for YouTube, other channels require shorter lengths to hold attention, such as 30-second videos on Instagram and one-minute videos on Facebook. Understanding each platform has its benefits. According to LinkedIn, video ads earn 30% more engagement than non-video ads, exposing the power of social media video marketing.
Social media video advertising also provides an opportunity for varied content. Live videos showcasing demos or company events, for example, can increase brand trust and brand inclusivity. Live videos can also increase dwelling time on your channel. Alternatively, user-generated video content can be reposted or retweeted onto your accounts to promote your business, increasing brand reliability. This content is predominantly submitted voluntarily, making it an unparalleled tool in marketing strategy.
Beyond the traditional social media platforms, Tiktok is rising in popularity fast, especially amongst younger audiences. After launching in 2016, this video platform now has 800 million active users worldwide. Tiktok videos can be up to one minute in length, ensuring viewers stay engaged with your marketing message.
Social media video marketing strategy must consider platform demographics. If directed to your target audience, in 2021, social media digital marketing videos will reach new customers and increase conversion rates.
Website Video Content Marketing
Evidence suggests that video on landing pages is capable of increasing conversions by 80%. This figure is partly due to videos increasing the dwelling time of consumers on your page. According to Wyzowl, a video has helped increase the average time visitors spend on a business page by 83%. Including website video/s in your video marketing strategy is, therefore, important in helping your business thrive.
Enhance Your Video Marketing Strategy with Digital Signage
With an estimated 6.0 million private sector businesses existing in the UK in 2020, the market is becoming increasingly competitive. While adopting a video marketing strategy for your business is important to increase sales in 2021, making your digital marketing videos stand out is crucial. Digital signage provides a solution to this.
Digital signage software and hardware can project video content onto large electronic screens at a specific location. Evidence indicates that digital signage effectively captures 400% more views than static signage (Intel Corp), clearly signposting how digital signage exceeds print and traditional media. By displaying your digital marketing videos on digital displays, your business holds the ability to stand out miles above the competition.
Video content marketing for digital signage can take various forms. You can display videos from your website or social media channels, marketing campaigns, or specifically designed digital signage ads. By presenting video marketing through digital signage, people will remember your brand. This increase in brand awareness has the potential to increase your business sales; research by RedC reveals that 82% of consumers searching online favour familiar brands. As a result, video must be understood as an important content idea for your digital display, allowing your brand to communicate a message within seconds and capture consumer attention.
So how important is video marketing in 2021? The simple answer is very. Significantly, research by Wyzowl reveals that 85% of people would like to see more video from brands in 2021. Do not let your business fall behind.
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