For most organizations, digital marketing strategy is an ever-expanding network of campaigns and objectives that incorporates new opportunities emerging online. Basic efforts like SEO and SEM have been joined by social media, content marketing and mobile technology, among other new developments. Although video has been online for years, video advertising and video creation have often been relegated only to major organizations with deep marketing pockets. But times are changing: Video creation is more accessible than ever, and consumers are making more purchasing decisions on the heels of this influence. To remain relevant among its audience, each brand needs to invest in video as a part of its overall digital strategy. Still not convinced? Here are some key reasons.
The Web's Second-Largest Search Engine: YouTube
For all the clout Google carries, it isn't the only driver of online search results. Its videocentric property, YouTube, has ascended to the No. 2 spot in terms of search engine rankings, according to Koozai. While YouTube is typically thought of as a video hosting destination — and it still is, make no mistake — the platform has become far more integral as a resource for finding content.
It's simple math, then: Brands that want to be found online must make themselves able to be found. Building a video presence on YouTube is one way to get the job done.
Video tends to draw high engagement in several forms. The most common such channel is social media, where video possesses powerful viral potential. But video can also drive conversation in the form of comments and even video-based replies, notes Koozai. Brands should be mindful of the ways in which videos can foster a stronger relationship with their audience, thereby pushing closer to overall digital objectives.
Improving Analytics Tools
A lack of strong analytics tools may have been a challenge of measuring campaign performance in the past, but no more. Analytics tools are built into some of the top video management platforms, including YouTube, Wistia and Vimeo, but you can supplement these data insights — or build upon them — with external tools and software specifically designed to track video performance. With these tools at your disposal, video can become an easy-to-observe digital campaign where ROI and other tangible performance metrics offer clear insights into how well you are using this medium.
Video Consumption Is Soaring
Online video continues to grow in popularity, hitting all-time highs in consumption in 2014. According to TubeFilter, video advertising revenues hit the $1.5 billion mark last year, and those figures only continue to trend upwards. Video engagement and consumption rates are rising — according to Digiday, Americans aged 18–64 now watch an average of 27 minutes of digital video per day, up from 13 minutes per day in mid-2012. This growth is especially evident in mobile, where Ericsson notes that video traffic is expected to grow 60 percent annually through 2018.
Given the influx of video creation agencies that aim to provide brands with affordable, scalable video solutions, video is readily accessible to companies ready to take the plunge. The evidence is there — now it's time for action.