We sometimes hear the following question when talking to potential clients:
“Is the cost of a video really worth it?
Obviously, we’re biased because we create videos every day and see how they help bring a client’s product or service to life. But, we also understand that to those not in the business of making videos, it’s not always easy to see their value as compared to other marketing spends.
So, in an effort to answer this question, we’ve compiled some statistics that we hope will help.
These two figures jumped out of this blog from Adobe:
- 51.9% of marketing professionals worldwide name video as the type of content with the best ROI
- Retailers cite 40% increases in purchases as a result of video
What does this tell us? Quite simply, it shows that people like to learn about a product before they buy it and that video is a very effective tool to educate and inform.
In fact, the following statistics in this Benchmark Report from Demand Metric and Vidyard speak to that effectiveness:
- 74% of marketing professionals report that video converts better than any other medium
If the goal is converting prospects into customers, video is getting the job done better than other options. Why wouldn’t you want to leverage it?
Once the decision is made to utilize video, what types of videos are the most popular?
- Explainer videos and product feature videos are utilized by 59% of the respondents surveyed
Over the last couple of years, we’ve seen an increase in the number of clients interested in combining various elements of a traditional explainer video (infographics, kinetic typography, character animation) with product screenshots.
In addition, we’re producing a lot more videos including an emotive vibe through the use of stock video and/or b-roll with those infographic and screenshot elements. Videos aren’t just the “hairy arm at a whiteboard” or snarky cartoon character anymore. They are becoming much more cinematic, stylish and evocative. And RocketWheel is a thought leader in this creative movement.
Cisco tells us:
- 80% of all internet traffic will be video by 2019 — That’s up from 64% in 2014
What this demonstrates is that if you’re not employing a video strategy for your online presence, get started now. And beyond that, with all that traffic converging, your videos need to stand out from the crowd for maximum impact.
And all of that traffic is going to be heavily accessed via mobile. Digest these figures for a moment:
- Halfway through 2015, mobile video plays exceeded 44% — A rise of 74% from 2014 and up an astounding 844% since 2012
People can’t walk down the street or be anywhere without their mobile devices. Just ask my mother as she scowls at the person whose phone goes off in church. You have a captive audience at your fingertips. Take advantage of that. But be sure that your videos look just as good on a phone as they do on your computer or tablet.
Deciding how best to spend your marketing dollars is crucial to the success of your business. What you spend on a video may seem expensive initially compared to traditional paper marketing collateral and tradeshow swag, but what these figures highlight is that video is a strategy worth the investment. As the saying goes, “You get what you pay for.”
About the author: Kelly Reiterman is the lead copywriter and content producer at RocketWheel. She disseminates information from creative briefs, marketing materials and client conversations into crisp, understandable and engaging copy.