As a marketer, you can't ignore the powerful impact that video has in helping you to engage your target audience. It's anticipated that businesses will spend more on digital marketing in 2018 than any other year. While there are many ways that businesses are choosing to spend their online marketing budgets, the statistics outlined above suggest that video content should be part of the investment.
Considering that consumers are spending so much time watching videos online, it makes sense that businesses are capitalizing on this trend with video advertisements. According to the latest eMarketer forecast, video content now accounts for 25 percent of all digital advertising. This forecast projects that businesses will spend $27.8 billion in online video ad spending in 2018.
Video Advertising On Social Media
Video advertising on social media channels is where businesses are spending the bulk of their video budgets. Of these social platforms, Facebook (including Instagram) accounts for the largest share in spending with $6.81 billion. YouTube comes in second, accounting for $3.36 billion in video advertising.
Social media advertising experts predict that Facebook will continue to experience double digit growth in video ad revenue through 2020.
With more consumers cutting the cord with traditional cable and turning to the internet to stream video content, creating digital video ads needs to be a priority for your business in 2018 and going forward.
Is Video Advertising Right for Your Business?
The vast majority of American consumers that use the internet are watching video content online. Video gives your business a unique opportunity to connect with your audience in a very real and authentic way, perhaps more so than any other medium of content. In fact, video can be so powerful that a recent study predicts that 80 percent of all content in 2019 will be video content.
Benefits of Video Content
However, despite so much energy around video advertising, you may be wondering if this type of content is right for your business. Outlined below are several benefits for using video to connect with your audience:
1. Video Converts.
If your business is focused on increasing conversions, you need to incorporate video into your digital advertising strategy. Research shows that adding a video advertisement to a product description increases the conversion rate up to 35 percent.
2. Video Engages Mobile Users.
According to the latest research, 78 percent of video content is viewed on mobile devices. When consumers are watching video on mobile devices, they're more likely to watch video advertisements in their entirety.
3. Video Content is Search Engine Friendly.
If you want to improve your search ranking, video can help. When you create video content that your audience actually watches, it signals to search engines that users are engaged and the content is relevant. These are two critical factors that search engines like Google use to determine how content ranks.
4. Video Increases Comprehension.
If you need to explain something complex to your audience, use video as the audio and visual components can help to break down complicated subject matter in a way that's easier for your audience to digest. Many marketers are using video to share product demonstrations and how-to guides, which resonate well with viewers and can be bookmarked for future reference.
5. Video Conveys an Abundance of Information in a Short Amount of Time.
When you have a lot of information to share with your audience, consider using video instead of text. Because you can convey more information with video in a shorter period of time, you'll be more likely to keep your audience engaged.
6. Video Performance is Easy to Track.
If you're sharing video content on social platforms like Facebook, the built-in features make it easy for you to track views, likes, shares, and social interactions. Being aware of these analytics will allow you to make tweaks to your video content strategy to optimize results in the future.
All in all, consider the massive quantity of video content that consumers are viewing online, it's critical that your business makes video part of your digital marketing strategy.
How New York Ave Can Help
Getting started with video can be overwhelming, but our team at New York Ave is here to help. By partnering with our creative agency, we can help you to create a well-balanced digital marketing strategy that includes compelling video content.
Contact us at New York Ave to learn more about our personalized approach to digital marketing and how we can help you use video to peak your audience's interest, inform them of your products and services, convert them, and establish a base of loyal customers.