The Cost of Video Marketing and Why It Matters

With the omnipresence of high-speed internet, the masses are now privy to a larger bandwidth than ever before. This allows marketers to take advantage of video technology in a novel and revolutionary way. Innovation in mobile technology allows for convenient production and consumption of video content. The volume of this type of content is only expected to rise through the foreseeable future.

Perhaps you harbor some reluctance when it comes to video marketing. You may think the format you currently operate with is sufficient and shows no signs of obsolescence. But rest assured, sooner or later, you’re going to want to refine your marketing strategy to make use of this engaging technology and its enormous potential.

Keeping up with Competition

According to studies, a growing majority of companies now employ video marketing as part of their efforts. Failing to do so too will leave your company’s presence looking antiquated by comparison. This occurs with every innovation in technology and it remains the case that early adopters are rewarded for their adaptability.

Larger companies use video marketing more often than smaller companies, but since generating video content is relatively inexpensive these days, the net profit of your enterprise doesn’t need to be a limiting factor. In fact, if a smaller company chooses to market with video, they’ll have that much of an advantage over comparably-sized competition.

That said, there are sometimes larger-scale video marketing efforts that may require additional funding that you simply do not have. This may be a case in which a personal loan is in order.

Conversion Rates

The rate at which visitors becomes paying customers is known as the conversion rate. Studies show that implementing video marketing can reliably raise this number. It makes sense, since a video can showcase products or services in ways that are more engaging than simple text or pictures; video brings them to life.

Arguably, our dominant senses are those of sight and hearing, and video capitalizes on both. A lot of information can be provided by text, but a video is able to ensnare potential customers in a more powerful way.

Cost to Benefit Ratio

Businesses that use video content generally rave about the return on investment they receive. This is a trend likely to continue, as technology continues both to improve and become less expensive. This puts the power of video content creation in the hands of an ever-greater number of people.

To strategize the cost-to-benefit ratio, using a video cost calculator is your first step. People enjoy watching content that serves a purpose—if not for education, then for just good, old-fashioned entertainment. When video content appeals to the audience, other money-making factors come into play. How many views, clicks, adsense? The possibilities sprout from there.

Video content doesn’t need to be perfect. In fact, in cases like live-broadcasting on Facebook, Snapchat, or Instagram, a little messiness can add to the overall genuine feeling. However, the video always needs to sufficiently describe the product or service in question. Studies reveal that poor design or low quality matter less in terms of importance when compared to how well the product is described.

Search Engine Rankings

Search engine optimization is yet another benefit to be had from video content. Since videos can maintain visitor attention, they improve statistics pertaining to time on site. This translates to a higher search engine ranking. Improving your search engine score is a worthwhile endeavor, as investing funds in this prove to be more cost-effective than other approaches, such as pay-per-click campaigns.

Another effective method of drawing attention to your cause is creating YouTube content and having links back to your website. Search engines pay attention to YouTube visitor time as well, so it helps to have attention-grabbing titles that persuade people to click.

These YouTube video titles shouldn’t be lies, as that results in a poor video rating, which in turn negatively affects search rankings. However, certain keywords are better than others regarding attracting cyber-traffic. Finding balance here is key.

Video Content Is Mobile Friendly

Mobile technology is an effective medium for video content. Over 90% of consumers watch video content on mobile devices. There’s little reason to believe this will change any time soon, as mobile technology only becomes more ubiquitous.

It’s also been shown that consumers feel a more personal connection with brands they become familiar with via mobile phones as opposed to through TV. This means that companies need to be aware of the personal experience they deliver through mobile media.

Power to Engage Even the Laziest Consumers

Most analysts agree modern customers have less patience than ever before, which necessitates a compelling presentation to maintain attention. This is where video marketing comes in, as it has the power to quickly and effectively show what you’re offering.

While visuals are important to make an attention-grabbing video, this should not come at the expense of sound. Video is an opportunity to capitalize on both senses and doing so effectively can double your competitive edge.