According to a Youtube blog posted in May 2011, “In one hour roughly, 240 hours of video will be uploaded to the Internet, approximately 11 million videos will be watched (for an average of more than 3 billion views per day), and we’re only talking about one video sharing site out of hundreds.”
That was two years ago and the growth in video consumption has been astounding. Youtube is now acknowledged as being the second most used search engine on Earth.
A 2011 Cisco Systems forecast said that the number of online video consumers will double to 1.5 billion by 2015, with total online video consumption predicted to quadruple.
Facebook also recently reported that more than 150 years’ worth of videos had been viewed in a single day.
Video has become so accessible that analysts predict that 90% of the internet’s usage will be watching online video by the end of 2013. As Forrester Research’s Reineke Reitsma recently noted: “Videos are definitely one of the strongest forms of media in our society today,” and increasingly they are being used by corporations to “help inform people in determining purchasing decisions.”
Why you should take video seriously
While the internet has provided a quick and efficient platform to reach business consumers globally, video provides a unique and complete means to inform and entertain them and influence their buying decisions.
Video, quite simply, is a lot more interesting to consume than more traditional forms of marketing because it combines all of the key ingredients of human storytelling – imagery, sound, motion and content – into a single medium.
By its self-guided and repeatable nature, the internet has also made watching videos convenient. Videos can now be easily watched and shared on almost any digital device and across individual networks.
Forrester Research has found that your brand is 53 times more likely to appear on the first page of Google’s organic search results if you have a video incorporated into your online marketing efforts.
Videos may not directly earn revenue; but businesses can use video marketing as another tactic to improve consumer engagement, click-throughs and traffic. An Implix study found that including video in your emails increased open rates by 5.6% and click-through-rates by 96.38% when compared to emails that did not contain videos.
Detailed demo videos, that explain your products or services, also ensure that your online customers do not feel as if they have lost that physical in-store experience. Your customer service department will also be able to devote more time elsewhere because they will no longer be burdened with obvious questions such as, “How does the product work?” when there is a video.
Video is becoming critical on so many levels. No business can afford not to have a video for its products and services…