The short answer is video. According to Cisco, by 2018 roughly 69 percent of all mobile traffic will be video views. However, last year, only 25 to 30 percent of major brands were investing in video marketing. With only a third of major companies realizing its worth, now is the best time to get ahead of the curve with video.
Not quite convinced video marketing should be a part of your 2015 marketing budget? Here's what you need to know.
You might have heard the calculations that one minute of video is equal to 1.8 million words or our brains process video 60,000 times faster than text. While the numbers may still be up for debate, we can all agree looking at a picture is interpreted by the brain faster than reading a description of that picture.
For example, imagine a curved line where all points are equal from the center. If you’re thinking of a circle, then you are right. However, you may have been imagining something else or your brain showed you a curved line and it had to process the line moving around center point then connecting the starting and ending point.
The concept is when you’re reading text, your brain has to create an image in your mind of what you are reading so you can comprehend it. When watching a video, though, the brain doesn’t have to create those images. This allows you to easily convey your message and reach people quickly and effectively—even within their short attention spans.
It’s true, videos perform well when it comes to conversions. Forbes says at least 75 percent of executives watch business related videos on websites at least once a week. At least 100 million Internet users watch video every day. Back in 2012, Wistia performed a study where it determined emails with videos had a 300 percent higher click through rate than emails without video. Also, online shoppers are 64 percent more likely to buy a product on an online retail site after watch a video.
Videos help add a human element to your website you may not be able to achieve with photos and text. According to Susan Weinschenk, Ph.D. the reason people are more drawn to video is because we are hardwired to pay more attention to the human face. Also, the human voice allows us to more easily process data and convert it useful information.
Earlier this year, comScore data was released that stated 55 percent of all Internet traffic was derived from mobile devices in January, and, according to Invido, 92 percent of mobile video viewers share videos with others. That means if you have a mobile friendly, responsive website with a video or if you have a YouTube channel, people on mobile devices are more likely to watch and share your video with others.
Your budget is one of the most important parts of your business. Figuring out where to allocate your resources requires knowledge and discernment. Even if you don’t have a lot of money to set aside, you can easily start making videos for under $150 (click here to find out how).
Need expert assistance to create your 2015 budget? We're here to help! Join us October 29 at 1 p.m. EST for our latest webinar, "Creating an Inbound Marketing Budget for 2015." Click here to register!