Business

Why Having a Video Marketing Strategy is Important for Marketers

This column is authored by Laura Lewis, Business Head, Streamhash.com

video marketingThere is a huge deluge of video content on social media platforms and popular video hosting services such as YouTube. The upbeat news is that many digital marketers have realized the importance of live video strategy that can grant opportune times. However, there still remains a good chunk of content marketers who focus solely on lengthy blog posts and not on videos.  And when it comes to the reasons why certain adamant content marketers seldom focus on live video strategy, even the pundits don’t venture a guess. It is in this backdrop I would like to elucidate the importance of live video strategy.  I shall also describe why you should own a live streaming software turnkey. And yes, this article also throws insights on video marketing strategy which you can use in social media as well.

Videos Take Your Product Sales to the Highest Gear

The trigger in most cases is a landing page which cajoles audiences to buy your products or opt for your service. Landing pages with videos are known to increase your conversions by as high as 80%. One of my prospective clients owns 7 websites, each pertaining to a different category. He ensures that landing pages are deployed with videos. All the initiatives have helped him gain high paying customers.

It is a known fact that infographic content is easy to comprehend. Video content is the easiest to understand.

To understand the importance of live video strategy, we recently conducted a survey by soliciting responses of ten thousand respondents.

Survey Method
Number of Respondents
Questionnaire 5000
Interview 1500
Cross Sectional Survey 1500
Longitudinal Survey 1500
Focus Group Discussions 250
Panel Study 250

To not get encumbered and subsequently disillusioned by the trends, we resorted to the following sampling methods:

  1. Snowball Sampling
  2. Simple Random Sampling
  3. Cluster Sampling
  4. Systematic Sampling
  5. Multistage Sampling
  6. Stratified Sampling

My team of Business Intelligence Executives and Market Research Analysts overhauled the surveys and came up with the following brownie insights:

  1. Brands that showcase poor quality videos are bound to nurture negative perceptions in the minds of audiences. Nearly 63.5% of the respondents agreed to this proposition.
  2. Videos incorporated in landing pages boost conversions by more than 80%. This fact was stated in the earlier paragraph.
  3. Not so long ago, I advised my clients to embed videos in emails. Well, the suggestion was a consequence of more than 10 years of experience in digital marketing. I wasn’t surprised when my clients asserted that videos increased click-through-rate by 300 percent.
  4. Many businesses fail to track brand association. We informed our respondents of cross sectional surveyto keep an eye on brand association. It was a pleasant surprise when the survey report threw an absolute stunner: Videos increase brand association by 150%
  5. I would like to make yet another astute observation–More than 80% of audiences prefer watching a live product demonstration rather than going through volumes and volumes of text.

Videos Yield Great ROI

Let me disclose this with incredible honesty: Video production is one of the toughest jobs. You should take care of quality. To deftly avoid low latency snags, it is important to have high bandwidth. Moreover, professional HD camera should be with a very good live streaming software. The good news is that video production entails one-time investment. Barring bandwidth costs, recurring costs are nil.

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Thanks to many online video editing tools which are available at affordable rates, businesses can edit videos with effortless ease. Coming to the survey, 75% of the respondents opined that live video strategy yields great ROI. Quantification of ROI gains is beyond the scope of this article.

Ballyhoo is nothing, Trust is everything

Videos galvanize trust which in-turn fosters long term relationships. The very foundation of conversion funnel in sales hinges on trust. Elite audiences who trust your venture will advocate for your products. Let me bring this fact to your notice- Elite audiences often spearhead social media campaigns which ignite emotions of all and sundry. Hence, never ever think of diluting your brand by creating poor quality videos.

The bottom line is that if you simply engage in extravagant fuss without focusing on building trust, your venture will not find resonance with your prospective clients. The fact that 65% of respondents asserted that videos infuse confidence in their minds is absolutely incorruptible.

Video is Indispensable in this Social Media World

McKinsey’s Social Media Marketing Industry report states that more than 60% of social marketers used videos in 2015. In 2016, the number rose to 73%.  Social Media pundits predict that this figure is bound to touch 90% by the end of 2017. The fact that social networking sites have made it easier for content marketers to focus on videos is an upbeat news. For instance, Facebook has launched 360 degree view. Also, there is a popular video centric app for teenagers called Life Stage. It was developed to combat the ever growing popularity of Snapchat among teenagers. Facebook’s Livevideo feature is known to many. Twitter’s take on live video streaming is Periscope. Instagram’s 60-seconds video feature lends a fillip to the fraternity of content marketers. Instagram’s Stories is yet another popular video feature which requires a special mention.

And the undisputed video social networking giant YouTube has been the apple’s eye of the entire entertainment industry. People love sharing informative and insightful content. Most importantly, people like sharing emotional and entertaining content and social media platforms are known to facilitate sharing. Remember, if the number of shares is high, traffic to your website will be high.

Live Videos can help you tap Mobile users

Mobile consumption is increasing at a phenomenal rate. With the number of smartphone users increasing by leaps and bounds, the size of your live video audiences is bound to get bigger and bigger. According to a report released by the world’s most popular search engine company Google, smartphone users are twice as likely as TV viewers to develop personal rapport with brands. And yes, smartphone users are 1.4 times as likely as desktop viewers to develop personal connection with brands. Brands and businesses should comprehensively capitalize this fact.

Live Videos Engage Even the Laziest Audience

The best thing about lazy audiences is that there is no best thing. Live streaming videos are capable of engaging lazy audiences. Don’t take me wrong- the average customer is lazy. He doesn’t have enough patience to go through lengthy product descriptions and voluminous modules. This is where live videos can come extremely handy.

Live Video Marketing is Affordable

Contrary to the popular opinions, video marketing is just getting cheaper and a lot more affordable. With platforms and video production tools galore, it all boils down to choosing the right live streaming software to muster audiences to your venture.

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Video Marketing Strategies for Social Media

Here is a brief on video marketing strategies for social media:

  1. Leverage YouTube

What’s the world’s biggest video search engine? It’s a no-brainer. Create all the possible following types of videos and leverage YouTube to the fullest:

  • Tutorial videos
  • Product demo videos
  • Webinars
  • Instructional videos
  • Event Videos
  • Real Time videos
  • Interview videos
  • Entertainment videos

For your audiences to subscribe to your YouTube channel, you should provide gripping content. Also, it is imperative to update channel feed on a regular basis. Needless to say, you will be at a great disadvantage if you fail to share your videos to popular social networking platforms

  1. Video Ads

Video ads are of two types:

  • Demand Generation
  • Demand Fulfillment

Facebook Ads come under the broad umbrella of demand generation ads. On the other hand, Google search engine ads come under the broad umbrella of demand fulfillment ads. If your unique product or value offering creates demand, you should resort to Facebook Ads. If there is already demand for your existing products or services and if you intend to gain further traction, you should resort to Google search engine ads. Facebook posts that include a video have an exceptional track record of 100% more engagement.

  1. Capitalize on User-Generated Content

In the world of social media and digital marketing, perception is reality.It is therefore important to know what your customers think of your brand / venture. Conduct Facebook polls and Twitter campaigns. Ask them to create testimonial videos. Put the best testimonial videos on your website’s landing page. If you are a packaging or a drop shipping company, ask your viewers to send unboxing videos. This tactic also works for electronic companies like Sony, Samsung etc. It is a memorable experience to know what goes in a customer’s mind when he / she is unboxing a packaged electronic good.

  1. Become and Aficionado of Instagram and Snap Chat

Instagram and Snap Chat are the most brand-friendly social platforms. To keep rocking, you should create a short 10 seconds video to promote flash sales. At the end of the videos, do not forget to embed a small link that directs viewers to your website.

Reasons to Own a Popular Live Streaming Software

Before buying a live streaming software, take cognizance of the following factors:

Monetization

Live streaming software scripts are aesthetically designed to support multiple monetization options such as:

  • Subscriptions
  • Ads
  • Pay per View
  • Sponsorships

Low Latency

Choose that live streaming software which uses Kurento based media streaming. This type of media streaming minimizes latency.

User Engagement Analytics

The built-in user engagement module is like no other. Not only does it provide insights on which videos performed well and which did not, it throws insights on behavioral patterns of users.

Chat and Comment

Want to chat with your darling audiences? Chat box makes your task simple and easy. The ‘Comments’ feature resembles Periscope’s Comments feature in many ways. This feature has been incorporated to increase the Google ranking of this website.

Social Login

Social login buttons enable users to login through their respective Facebook, Twitter and Instagram accounts. Sharing videos has never been this easy before.

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