In 2020, more than the 80% of all web traffic will be from video consumption (source: Cisco). Today, the percentage is already an impressive 75%. In addition, 55% of internet users watch at least one video per day, every day of the year (source: Invisia).
These impressive numbers indicate the rapid growth of video usage in every industry by every discipline, especially marketing, where they are largely considered as the most effective media to generate interest, conversions, and customer loyalty.
Technology has improved dramatically in the past five years. If companies used to randomly publish videos on Youtube – hoping that some millennial could find it among the intricacies of the web – now they can rely on specialized platforms that allow businesses of any size to create, share and measure several types of videos.
However, many still see video marketing as expensive, complicated and hard to measure. True, it was once — but not anymore.
Below is a list of the most common myths about video marketing:
1. Videos are too expensive
To produce a single episode of Westworld, or Game of Thrones, it takes about 10 million dollars. But these productions have little in common with the videos that most business need, whether they are small, local companies, or multinational enterprises.
Videos don’t need to be expensive to be effective and engaging. Today, users increasingly appreciate characteristics like clarity and authenticity, which don’t require huge budgets. As a matter of fact, corporate videos produced with extensive budgets often communicate an unpleasant feeling of inauthenticity that fails at creating empathy in the viewer, ultimately reducing the effectiveness of the video.
2. Videos are too hard to produce
Many marketers, particularly among small companies, tend to be skeptical and uncertain about video production. To come up with a video, they imagine long, complicated processes that begin with a storyboard, and continue with endless brainstorming and meetings, with the need to face challenges such as finding professional actors and equipment (and maybe even hiring a professional director, complete with proper chair and clapperboard!).
However, today’s video-marketing is light years away from this Hollywood imaginary. In reality, it only takes a handful of resources to produce video material. This is especially true with animated videos, which it turns out is the best solution to maximize the price/quality ratio (we discussed it in detail here).
3. “Our company doesn’t need videos”
Many believe that videos are useful only to B2C companies that want to sell goods and services directly to the final consumer. However, both B2B and B2C are “B2H” (Business-to-Human). In other words, you always aim at persuading someone. It would be a great mistake to forget this. In addition, people like videos in general, no matter what their goal. We can easily see this human bias all around us. Videos are now everywhere; just think of the numbers we discussed at the beginning of the article.
There is a whole world of opportunities for companies that still don’t use video platforms. The most important thing to do in order to understand how you could improve your business with videos is to ask yourself what your client wants, and how to achieve this.
In this sense, the most effective approach to video marketing is personalization. For instance, the Personalized Videos provided by Doxee allow companies to create extremely-flexible and dynamic videos that are easily adapted to the needs of individual clients or consumers. For this reason, personalized videos turn out to be valuable resource in several business industries – from banks to telecommunications providers, and from insurance to public administration.
4. Video marketing’s results are hard to measure
An effective and accurate analysis of the video’s data analytics is anything but obvious. But only if you use basic services, like the ones provided by Youtube or Vimeo. These platforms, in fact, provide only basic information about your videos’ performance: number of views, number of likes, and a few other data points. Data that are partial, and insufficient for a comprehensive understanding of your target’s behavior. To give one example: what if your videos are seen by many people, but 95% of them stop watching after the first ten seconds? You’ll never know about it.
Unlike the free platforms described above, professional video services such as Doxee’s Personalized Videos can provide much more detailed analytics tools. For instance, how your customers watch your videos, what they like or don’t like, where they stop, skip forward, or skip back. All data that are of enormous value to fully understand your target and, potentially, improve your marketing strategy.
5. Videos only serve a few purposes
This is the easiest myth to dispel. Videos offer the most dynamic and flexible type of content among all other media. They can be reshaped and adapted to serve virtually any kind of purpose, commercial or otherwise. In terms of performance, videos typically increase click-through rate (for instance, the percentage of open email messages), encourage sharing with other users (e.g. via social media), and increase the average time spent online by viewers. In other words, video content is the most engaging channel you can find out there.
From a functional point of view, videos can serve multiple purposes, and take various forms: educational, emotional, walk-through, and event-immersion. But they can also be used for demand generation, internal and external corporate communication, and many more traditional business-oriented communications.
Find out more about the potential of video marketing for your business.
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