Video is a powerful marketing medium that is not used to its full potential by a lot of brands. 86% of consumers want to see more videos from businesses in 2020 – quench their thirst and you could increase your market share, sales, and brand recognition.
The hunger for video content is partly down to the improvement of smartphones and internet coverage worldwide. More people can access video content on the go than ever before. The average internet user prefers watching videos to any other form of content, so why not give the people what they want.
89% of video marketers share that video offers them a good ROI. It might be the best ROI form of marketing in your industry – take the plunge and find out for yourself. In this article, you’ll learn about the challenges and best practices to launch a successful video marketing campaign.
I bet you have heard of the saying, “a picture can tell a thousand words”. If that’s true, then imagine what a video could do for engaging your audience and explaining complicated concepts. In a nutshell, video marketing is the act of creating and distributing videos across multiple platforms. The aim is to raise brand awareness, increase sales and educate customers about your products/services.
Still not sold on the merits of video marketing? Here are a few advantages to help you decide:
Great example of this is the Dollar Shave Club. Their video campaign went viral and helped add rocket fuel to their growth.
Tracking the right video marketing KPI’s allows you to figure out the success of a video marketing campaign. Keeping an eye on the metrics can help you identify the strengths and weaknesses of video campaigns so you can make adjustments in the future. Double down on what works and discard what doesn’t.
Here are a few of the KPI’s to keep an eye on for your next video marketing campaign:
4Your video marketing strategy must change gears as your audience transitions through the sales funnel. Showing a video before the audience member is ready to receive the content can backfire. Read onwards for a guide on how to tackle each phase of the sales funnel.
The goal of this phase is to identify the problem your products are trying to solve and why they can. Helpful educational content should be at the forefront of the strategy. Your content needs to stand out of a crowd. This can be done by creating something viral or getting across your unique selling point.
Short videos will win in this phase since viewers may not have the patience to watch a long video from an unknown brand. Also, don’t give specific product information at this phase as the audience is not yet at the buying stage.
Videos types to use in the awareness phase:
The consideration phase is about introducing your products and keeping potential buyers engaged so they learn more about the benefits. Social proofed content is a good idea because it displays value organically. Also, the content must be practical, so deliver content with facts, experimental data and case studies. Provide enough information so they can make an educated decision in the conversion phase of the sales funnel. Don’t push sales at this point. Be patient, the financially rewarding phase is just around the corner.
Video types to use in this phase:
The aim here is to help your potential buyers make the right decision and convert as many of them as possible. To achieve this you need to highlight the benefits of your products and why they can solve the problem better than the competition.
Also, create a sense of urgency so viewers have a real reason to buy right now. The biggest mistake brands make in phase 3 is pushing too hard. Bombarding your prospects with sales calls and multiple emails per day will only aggravate them.
The trust you built up in phase 1 and 2 will come to fruition here. Hesitant buyers are more likely to pull the trigger if they trust your brand and believe in your message. Therefore, phase 3 will be significantly easier if you lay the groundwork in the previous phases.
Video types to use in this phase:
You are more likely to sell to existing customers than new ones. Therefore, you must incorporate a customer retention phase into your video marketing strategy. Start by doing more of the same – provide value without asking for anything in return. Offer up more educational content and news that would be of interest to the audience.
Ask customers for feedback and make them feel involved in the product development process. Casual customers will become loyal if they feel that the brand cares about the opinion of the buying community.
Encourage buyers to spread the word about your products and the experiences you’ve had. This could be in the form of testimonials, social media posts or leaving a review.
Video types to use in this phase:
Retargeted users are more likely to convert by 43%. Therefore, it’s an effective strategy to increase the ROI of your video marketing campaign. It works because the average customer needs to see an offer several times before they are ready to buy.
Video retargeting works like this:
Step 1: a shopper lands on your website and browses through a bunch of products. Tracking software is used to analyze the browsing behavior to assess what products the potential buyer is interested in.
Step 2: the shopper leaves your website without completing the purchase and continues to browse the internet. Meanwhile, the retargeting algorithm calculates the purchase intent to determine the correct product recommendations.
Step 3: video advertisements are displayed around the internet to lure the customer back to your website and complete the purchase. Ideally, the potential buyer clicks on one of the video ads and ends up buying from your website.
The video retargeting best practices include:
Struggling to come up for ideas to launch a comprehensive video marketing campaign? Then repurpose the content you already have. For example, you could transform an article that performed well to see if it gets the same success in video form. This allows you to explain things at a deeper level or address parts of the article that readers were confused about. Alternatively, you could transform a podcast into video by adding animation. You have a lot of creative freedom with animated videos to engage the audience. Just like turning this blog post into a video to increase our reach.
Likewise, you can repurpose video content into other formats to get more value out of a shoot. Videos can be repurposed into short social media clips, educational/instructional videos, screenshots, GIF’s, trailers, podcasts, written content and soundbites. Branching a single video into various forms of content helps keep the message consistent. That’s important to avoid confusing customers if they see your brand message in various formats around the internet.
Repurposing video saves money as time is not wasted coming up with content ideas and you can reuse current assets. Consequently, the cost of creating videos is lower, which means the odds of turning a profit increases. It’s a good practice to take a look at the best performing content and repurpose it first.
You can also reach new audiences with video content. You may write the best article in the world, but segments of your audience will not care to read it, because they only consume video content.
Finally, video gives you another avenue to engage viewers with the same content. For example, let’s say you shared an article that failed to get the response you were looking for. Release a video that’s virtually the same content and you may have a much higher engagement rate – it’s that simple.
Creating videos can be dirt cheap or expensive depending on your methodology. You could invest in equipment and software to handle the shooting and production of the video yourself. It’s a viable long term strategy if you want full control of the process.
Alternatively, you can outsource the job to a video marketing agency. An established agency would have most likely worked with a business in your industry before and understand your audience – maybe even better than you do. Leveraging the experience of a marketing agency is a smart choice for new businesses that lack the expertise to handle their own video marketing campaign.
Keeping costs down means you can create more campaigns and increase ROI. Here are a few ideas for reducing costs:
Getting started with video marketing is a no-brainer. Your business could take operations to the next level by expanding the customer base, showcasing your brand clearly and generating more sales than ever before. Don’t leave the competition unchallenged in the fight for the most views, conversions and user engagement from marketing videos.
Stuck for video content ideas? You’ll be surprised by the volume of ideas you can generate when you know where to look. Consider interviewing people from within your industry, showcase cool case studies, explain any concept your audience would find interesting, review non-competing products and get your entire office involved in the idea creation process. Look for inspiration from the top-performing video marketing campaigns in your industry to come up with ideas of your own.
Don’t procrastinate! Start your video marketing journey sooner rather than later – your business could be waiting for that critical step to evolve and become an industry leader that other businesses look up to. Do you like the sounds of that? Then consider using our professional video marketing services at Ladder.io to start your journey.
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