The average consumer now expects businesses to have video. It's no longer an option, or a way to stand amongst the competition-- but a necessity in effective branding and marketing strategy. It’s been shown that 25% of consumers will completely lose interest in your product or service if you don’t have a video explaining its value or use! If multi-billion dollar companies are shifting their focus to respond to the demand for video, then local businesses need to make financial investments towards how consumers expectation and how they are absorbing information.
1. Analyze your market
This isn’t really a trend but a step to add in your execution, because what good is a video without the tools to effectively get the most out of it. You have to rethink how your demographic views social media and realize that it's no longer a young man's sport. With Instagram reaching over 700 million monthly users, there aren’t just millennials using the app… in fact the most impressive growth curve on Instagram is women in their 40’s! By doing the research up front and finding out where your consumers are spending their time digitally, you can save yourself a lot of time by advertising to your most populated platform.
2. Properly strategizing on each platform
If you are still using old tactics expecting more results, you have to rewire the way you market yourself on social media. 73% of marketers say that video gets the best ROI, but just having a video doesn’t work anymore, you need a thought out strategy in order to reap its benefits. Now business owners and marketers have to create video content to efficiently perform across all their social accounts. You can find out how here (insert blog link)
3. Influencer marketing
Influencers (commonly found on Youtube and Instagram) have harnessed the power of branding awareness. They’ve gained the trust, and credibility of their wide fan base and this can be a huge advantage if they are in your industry. According to Nielsen, brands who share content through industry influencer have seen 3 -10 times more conversions in their sales then solo advertisements.
4. Virtual Reality and 360-degree videos
This isn’t science fiction anymore, Virtual Reality will be the next big revolutionary way we interact within the internet! While 360-degree video hasn’t been around for too long it’s receiving amazing results! Magnifyre conducted a split test comparing a traditional video with a 360-degree video, they promoted the same content on Facebook and discovered that the 360-degree videos are watched 2x more!
5. Live Video is still on the rise!
Major social networks like Facebook, Instagram and Twitter have updated their platforms in response to the consumer demand for live videos! According to Livestream, the number of viewers watching Live Videos have increased by 81% in late 2016. Live streaming is a great entry way for businesses to start incorporating video because it doesn’t require too much planning, financial resources or a polished final product.
In order to keep up with your competitors and stay relevant in consumer culture, you have to take serious steps towards improving your video marketing. Video content isn’t an option for businesses, it’s a necessity! It’s been announced by Cisco that by 2020, 79% of internet traffic will be video. Stop resisting consumer behavior and incorporate video into your marketing and by a part of a profitable statistic!