Programmatic video advertising is expected to grow an additional $10 billion over 2021’s monstrous growth in 2022, according to eMarketer. Many growth brands are seeing the benefits of incorporating this highly engaging medium in their marketing mix.
Twitter reports that users are 10x more likely to engage with a tweet including video, and LinkedIn similarly reports its users are 20x more likely to engage with a LinkedIn post with video embedded.
However, there are still those who are unwilling to make the upfront investment to create these assets, fearing it requires too much money and too much time. That’s understandable, especially for brands operating with a very lean marketing budget.
Here are three reasons why your brand should avoid leaving video out of the marketing strategy.
Losing potential sales. Video is often solely viewed as an awareness tactic to increase brand recognition and consideration, but ultimately is not the driving force behind a sale. While it’s true that video, when done well, does accomplish those upper funnel objectives, it can actually be critical in producing qualified leads and generating sales as well.
According to Hubspot, only 21% of marketers view sales as a success metric for video campaigns, despite 81% indicating video has had a direct impact on their brand’s bottom line.
This is particularly true for quick-hitting, short-form video. Longer-form video is excellent at telling your brand story and generating emotion, but a study by Snap, Magna and IPG media showed that extremely short-form videos of around six seconds in length drive the same amount of ad recall as 15-second ads and are viewed as less invasive (thanks to platforms like TikTok and Snap).
Reducing customer lifetime value. Every brand has heard of the traditional marketing funnel: introducing consumers to a brand, educating them to consider purchase or adoption, and then ultimately driving the message home to get them to convert. Often less of a focus is the importance of an ongoing relationship with customers post-purchase to create brand loyalists and advocates. By ignoring the customer after the conversion or simply adding them to your sales-focused email list rather than building an ongoing engagement, you are sure to lose out.
Video is a great way to facilitate that continued conversation, bringing compelling messaging that builds affinity, showcasing what makes your brand loveable or memorable, and using educational videos to introduce new offerings.
Failing to generate “buzz” about your brand. When was the last time you spoke to your friend about a brand because of a display banner you saw? My guess is you can’t remember -- and maybe you never have.
I bet you can’t say the same thing about video, especially those you watched on your phone or on your connected television. Having an omnichannel video strategy allows your brand to start a conversation with consumers no matter where they are spending time throughout the day: social media, YouTube, Hulu, etc. Simply put, effective video creative generates excitement that static images simply can’t replicate.
Video is a must-have for today’s brands. Don’t lose out on the massive opportunities this channel brings. Remember, you don’t need a major production or even fancy equipment to get started. Even six seconds of UGC video can offer a great starting point.