If you're doing everything you can to make your brand stand out from the crowd, you already know the phenomenal value of video in marketing.
Once primarily a broadcast medium, video now leverages the immense amount of data available to deliver hyper-relevant, and often heavily personalized, messages across the customer lifecycle.
The data on the relevance and effectiveness of video is simply staggering:
- One third of online activity is spent watching video.
- 92 percent of mobile video viewers share videos with others.
- Marketers who use video grow revenue 49% faster than non-video users.
- Social video generates 1200% more shares than text and images combined.
- And four times as many consumers would rather watch a video about a product, rather than read about it.
We're living in a fast-paced world and video is the best medium for communicating messages at tempo, so it's no wonder 51.9% of marketers worldwide name video as the type of content with the best ROI.
You're missing a trick if video is not an integral part of your marketing and communications plan, and trust me your bottom line will suffer. In fact, businesses using video grow company revenue 49% faster year-over-year than organizations without video.
That being said, video marketing has its complexities and warrants careful, thoughtful and holistic planning of your strategy for every point of the customer life cycle.
Here are a few of our pro-tips for creating a purposeful video content marketing strategy:
It's All in the Planning
Perhaps the most important stage of planning is fleshing out the precise rationale behind your video content. As the saying goes, fail to plan, plan to fail. Ask yourself some key questions here so you can plan methodically. Who is your target audience here? What key messages are you trying to communicate? What tone and style do you want the videos to have? What's your call to action? Which burning questions do your clients most want answering? These are just a few key questions you should be asking yourself before you go anywhere near a video. It can be helpful to write this all out in detail as it will give you the opportunity to structure your thought process and ensure both planning and execution is streamlined with your overarching objectives.
Remember, when you outline your goals for video campaigns, they should be S.M.A.R.T. – Specific, Measurable, Attainable, Relevant and Time-bound.
If you're overly ambitious or impractical about setting goals, you risk:
- Impacting negatively on your team's morale
- Not understanding indicators of success
- Overcorrecting or not correcting problems
Alongside writing out your objectives and rationale, identify key people who will lead and take ownership of the production. This will likely include in-house management working with external agencies. Clearly defining the scope of responsibilities for every stage is key for effective implementation.
Where Does Video Make Sense?
Take a holistic, bird's eye view of the products and services you offer, as well as the different stages of the customer lifecycle as they pertain to your business. Depending on the resources available to you, video marketing may be more useful in certain areas than others. See where video makes the most sense and is the most effective use of your resources. For example:
It's a no-brainer; video is now the preferred medium through which customers like to be communicated to. Around 60% of people who visit a business website prefer to watch a video about it rather than read text. Leveraging video for product demonstrations is not only incredibly effective for onboarding clients, it also signals to your clients that you understand them and their preference to absorb messages through video. It demonstrates respect for the precious time they are giving you during their busy lives.
Video reduces the likelihood of friction as clients get to grips with changes to products or services. This point is key when you consider that “51% of B2B companies avoid vendors after a bad customer service experience with them.”
Change is always a tough pill for clients to swallow and when not effectively explained can lead to panic, frustration and an incessantly ringing customer service line.
As Macchiavelli once wrote, "There is nothing more difficult to take in hand, more perilous to conduct, or more uncertain in its success, than to take the lead in the introduction of a new order of things."
Fear not, Macchiavelli, for video is here now and has the power to simply and effectively explain any changes through messages delivered in bite-sized chunks that your customer can digest without grabbing for the Antacids.
With one minute of video said to be worth the equivalent 1.8MM words according it is the utmost effective medium out there to explain complex products and changes, such as insurance policies, escrow accounts or pro-rated phone bills.
Identify where it makes sense to personalize. Personalized Video is a marketing behemoth that is truly unparalleled when it comes to grabbing the attention of your clients. Merely mentioning a personalized video in the subject line of e-mail campaigns can increase the open rate by up to 272%! When implementing personalized video campaigns, major brands like Monarch airlines found a whopping 99% of viewers watched their video until completion. Similarly, Cadbury achieved a cool 65% CTR with recipients of their Personalized Video campaign, as well as a 33% conversion rate of viewers who completed a subsequent promotion form.
Personalized Video is incredibly effective at every stage of the customer lifecycle. It can be used to welcome new clients in a personable way, explain new products relevant to specific customers, explain individualized bills and statements, promote up-selling through customized offers, and increase retention through personalized loyalty schemes.
Perhaps most effectively of all, Personalized Video is an opportunity to wow your customers. Sometimes you don't just want to clearly communicate to your clients; you want to knock their socks off. Personalized Video is super effective here as its inherent 'story-telling nature' surprises and delights customers since it was unexpected but welcome. This is particularly true for emotional moments such as birthdays, anniversaries and gifts. Just be sure your video content includes a storytelling arc in a way that grabs the attention of the customer and draws an emotional reaction. Emotion is an incredibly powerful motivator and is particularly useful for achieving objectives outside of the hard sell, for example downloading an app or other software, enrolling into online services, and promoting with a special offer.
In summary, video marketing is a super effective and dynamic tool unparalleled in its ability to engage customers, increase brand loyalty and explain new products and services. However, its technical complexity and reliance on data requires thoughtful and strategic planning. Clearly outlining target audiences, messages and objectives is key to developing an effective strategy, as is thoughtfully choosing where in the customer lifecycle you should focus your video efforts. Implementing a personalized video experience will guarantee an impressive ROI and reel in your customers for those moments when you truly want to wow them.
If you found this useful and you'd like to do incredible things with the latest marketing tools and data-driven video marketing strategy, we invite you to download this ultimate guide to seamlessly and easily launching your first video campaign.