Remember when "Video Killed the Radio Star?" It turns out that "video wasn’t done killing!"
The 1979 hit by the Buggles “Video Killed the Radio Star” will always act as a reminder that as we innovate technology, the old mediums become less important can eventually “die off”. While we still have radio, it’s popularity has dwindled and today people prefer the power of streaming music they want to hear without the clatter of unwanted ads.
Similarly, the Internet has evolved and it seems that ‘video’ has a thirst for blood once more. This time around in the world of online marketing. Video has become a key strategy for brands of all sizes to engage their target audience and with the tools to create compelling videos becoming ever more accessible, the demand for video marketing increases.
The Ruthless Power of Video Marketing
While "written content" will be forever needed to some degree, video content has become a more effective means of getting the message across in a quicker timeframe. The average internet user has an abysmal attention span, even lower than the dumbest goldfish. This is why it has become so important to utilize those precious "8-seconds" before a user loses interests and swims to another fish bowl.
However, just like the market "favored video over radio" back in the early 80s; market trends show us that the market continues to favor video over pretty much every other marketing medium available.
Here’s some statistics to illustrate the "love for video":
- Video counts for 50% of all mobile traffic
- 55% of Internet users watch video every day, 78% watch them weekly
- An estimated 79% of Consumer Internet Traffic will come from video by 2018
- 64% of Consumers are more likely to ‘buy’ after watching a video
To be honest, the list can go on and on and on.
This should give you an indication that if you don’t have video as a part of your marketing budget, you should definitely start to consider it as the future market trends suggest that ‘video will go on killing it’ over time.
Explainer Videos and Retention
While the "video marketing spectrum" is quite vast, there are different types of videos to focus on. You have everything from sales videos, hype videos, viral videos, tutorials and explainer videos. They also all come in a various shapes and sizes.
Explainer videos however have become an important part of maintaining user engagement within their websites. Not only has this marketing tactic increased user retention on many big sites like Dropbox and Work.com, it also increased conversions between 10%-20%.
It’s simply a more effective way to introduce your brand, educate your prospect in a fun and engaging manner. People are predominantly visual learners and with video you stimulate both visual and auditory learners. A quick, short and engaging video allows your users to quickly grasp your ‘intent’ and can motivate them to take action much quicker than ‘written copy’.
This is one of the reasons why the demand for video marketing has increased so drastically in 2015.
The Bloody Bottom Line
Video marketing has taken the world by storm and with further innovations in the realms of holographic marketing, video will only become more powerful. As a business or a brand, implementing video within your marketing budget is a solid investment, especially if done correctly. You can gain mass exposure with a small budget and reach your desired audience with higher efficiency.
Video did kill the radio star, and has continued killing ever since. The question is, will you use video to ‘kill it’ for you?