How Much Is A Video Really Worth To Your Business?
February 21, 2017
Video marketing is on the rise.
Consumers like to engage with high quality video content from their favorite brands, and the video marketing sector is continuing to swell as companies begin to realize the benefits that well-produced, engaging video content can have in their consumer marketing strategy.
But just how valuable is video marketing content to your business? To answer that, let’s look at the raw statistics and numbers behind the world of video marketing, talk about the benefits that video marketing gives you, and hear what you’re missing out on if you don’t adopt a video marketing strategy.
Video Marketing By The Numbers
Numbers don’t lie – and the numbers that back up the importance of video marketing are staggering, to say the least. According to HubSpot:
- Placing a video on a landing page can boost conversion rates by up to 80%
- 92% of mobile video consumers will share a video they enjoyed with others
- 64% of all consumers are more likely to purchase a product online after seeing a video about it
- 80% of video consumers can recall the specifics of a video that they’ve seen within the last 30 days.
- Video ads increase purchase intent by up to 97%, and positive brand associations by up to 139%
These are just a few of the statistics that HubSpot has uncovered related to consumer video habits – see a full list here.
Benefits Of Video
According to a researcher Liraz Margalit, Ph. D., a consumer research specialist published in Psychology Today, there’s a reason behind these behaviors.
People are lazy (not you, of course). And visual information like video is processed up to 60,000 times faster than text. This allows the brain to mostly shut down – there’s no interpretation required when watching a video. You just watch what’s shown to you.
This has an additional benefit – processing power is freed up for emotional connections. It’s easier for us to connect to an image shown to us on-screen than it is when we’re reading text, and that emotional connection is extremely powerful, aiding a consumer when they’re making a buying decision.
Visual information like video is processed up to 60,000 times faster than text.
People are also more willing to watch a video than they are to read an entire wall of words; and this also allows them to continue navigating your website, as watching a video takes less cognitive exertion.
The Costs Of Not Using Video
Most companies are mainly concerned with cost when it comes to video. True, video production can be expensive – but think about the costs of not using video.
- Decreased SEO profile – Google loves videos!
- Lack of understanding of your product/service
- Visitors to your website are less likely to convert
- You won’t be listed on YouTube – the #2 search engine in the world
- You’ll be less exposed to executive decision-makers (Execs love watching video)
- Your product or service will be less memorable.
Given the increased engagement and conversion rates generated by effective videos, video can prove to be a very worthwhile investment for many businesses. We can help you gauge what types of results you might experience by using video. After all, you’re already paying for not using video, so why not pay to use it, instead?
Cross & Crown – Your Video Marketing Partner
At Cross & Crown, We create visual stories in captivating, interesting ways. Each company is unique – each brand is different, and everyone has a story to tell.
So we focus on finding out what makes your company different, and we give you more than some cookie-cutter, pre-packaged video solution. At Cross & Crown, we can craft:
- Branding videos
- Explainer videos
- Product videos
- Interview videos
- Testimonial videos
- Event videos
If you’d like to see a sample of our work, check out our video work, or visit us online to learn more about our services, our past clients, and how we can help you add video into your business and marketing strategy.