Seeing is Believing
– American Proverb
It is a line that everyone has used at least once in his or her life and there is a good reason for this…because there is real truth in it. When given a choice of whether or not they would voluntarily read a book in the future, a recent Harvard University study showed that 80% of high school graduates would never pick up a book again. We live in a visual, instant gratification world where most people do not have the time or patience to actually read something. If given the choice between reading or watching, the data is clear…people will choose to watch.
This is especially true in the business world, where we are all strapped for time as we look to address specific business needs and grow our businesses. When time is money, no one has the time to invest in reading volumes of text hoping they find that one nugget of information or that perfect solution that addresses their unique needs. The use of video to market goods and services is a natural solution to tap into current consumer behavior patterns. Video enriches the consumer experience by educating the consumers about product or services, putting a face on a company, and building a company brand. Video uniquely sets off an emotional, visceral response that traditional marketing methods simply cannot do. By hitting consumers at this instinctive, emotional level, you can influence their decisions unlike any other marketing approach.
This is not to say that organizations should abandon all other forms of traditional marketing in favor of the use of video marketing. However the use of video to market goods and services is no longer a “nice to have” – it is a “must have” element of any marketing mix. This is true whether the video is being watched on a TV screen or a computer screen or a mobile device. Video is a viable, vital aspect of every marketing program.
Because of video marketing’s effective and efficient means of reaching prospective customers with the promotion of products or services, it is only natural that video is one of the most effective online communication strategies. Video over the web has a tremendous impact to website visitors. Internet marketing video combines the advantages of traditional TV advertising and face-to-face meetings with the Internet’s most important characteristics, interaction and engagement. The data strongly supports the effectiveness of this approach. Last year alone, according to eMarketer, “video spending will reach $1.5 billion, up 48% from last year.” And according to ComScore “63% of total U.S. internet users are reached by video advertising. These consumers account for 83% of online sales, making them highly valuable targets.” The data shows that the use of online video has a positive correlation to conversion in a consumer call to action, but it is also effective in usages where the call to action is to educate rather than purchase.
There doesn’t seem to be an end to this trend. The accepted gold standard of Internet analysis and forecast, Cisco’s annual Visual Networking Index, supports the usage and future viability of video as a major component, if not the primary driver of, Internet activity in the future.
There are a number of factors that are causing this growth, including the continued spread of broadband and the rise of mobile device browsing. But the biggest reason for this increased bandwidth demand is online video. Because more consumers demand video, and more businesses offer it, according to Cisco, it’s the single content variety most responsible for current and predicted growth in online activity.
Be it via traditional marketing methods such as television or DVD advertising and marketing or through trying to expand and enhance your online marketing effectiveness, video needs to be a primary component of your marketing mix.