Online video, one of the fastest-growing marketing tactics in today’s business environment, is proving to be a powerful tool for achieving sales goals.
As the pixels that make up smartphone screens continue to give viewers an even clearer picture, online video grows more popular in the professional realm. The dramatic growth of online video is detailed in the 2014 Online Video Production Trends Report. The result of a survey of video production professionals, the report reveals the percentage of production work that survey participants performed for specific online uses. The high demand in these categories provides strong testimony to the success of online video in achieving the desired objectives of the clients. The report identifies the following as the top five business uses for video:
1. Company websites
This use tops the survey results, with company website video production accounting for 80.8 percent of projects. For the same reason department stores benefit from stunning window displays, your business can benefit from using video on your website. Incorporating video into your website offers the following benefits:
- Reinforces branding
- Encourages visitor engagement, making them more likely to convert to leads
- Directs visitors where you want them to go on your website, and what actions you want them to take
2. Social media engagement
With survey results reporting 69.2 percent of video production business generated from content created for social media, more companies than ever recognize the importance of video in engaging visitors, followers and fans of their social media pages.
Video is instrumental in social sharing, which helps spread brand awareness and drives website traffic. In a study by Zumm Social of 42 brands over seven consumer categories, video was the most commonly shared type of content for 34 of the brands. Overall, video can optimize your company’s social media presence to drive traffic to your website and boost the conversion process in the following ways:
- Product demo videos
- How-to videos
- Behind-the-scenes videos that provide a look at a (non-proprietary) process or company culture
- Company participation at a trade show, charitable event, etc.
3. Generate sales leads
With video production companies reporting 39.3 percent of business coming from videos created to generate sales leads, this use represents a significant recognition of the success of online video in growing business. Reasons for video’s lead generation success include the following:
- Speed of downloads across Internet-enabled devices, from desktops to mobile phones
- Engagement through combining entertainment or positive messaging with marketing
- The sensory appeal of video itself, attracting viewers in a way that images and text alone cannot
According to the Online Publishers Association, nearly half of the online users who watch a video ad take action by either seeking more information, visiting the website, or even visiting the business itself. Of these leads, 12 percent will make a purchase. With the large number of online users viewing videos each day, that 12 percent can represent a significant increase in sales.
4. Cost-effective employee training
The ability of video to “show and tell” resulted in survey respondents reporting that 38.1 percent of their business consisted of video content for employee training and education.
According to Forbes.com, 75 percent of business executives watch work-related videos, leading to increased industry knowledge. A growing number of companies recognize that providing training programs through online videos to all employees can improve performance on a company-wide basis.
With the ability to rewind and re-watch video, employees can get the most out of their training – while the company can be sure information is delivered in a consistent manner. A recent study by the Sasha Foundation found that the average cost of turnover and training of a new employee for an $8 per hour position is $9,444.47. Adopting online video as a training tool is an investment that can help companies contain cost over the long term.
5. Deliver management communications
Also high on the survey’s list is the expanding number of companies and organizations utilizing online video to communicate messages from management – accounting for 34.9 percent of business.
Video is increasingly favored as a way for organizations to quickly and clearly deliver messages to internal and external audiences for a wide range of applications, including:
- Public service announcements
- Press releases
- Policy changes