The phrase “content is king” came center stage in 1996 when Microsoft founder, Bill Gates, coined this term in a memo released to his company. Within the statement, Gates can be quoted as hypothesizing, “Content is where I expect much of the real money will be made on the Internet, just as it was in broadcasting.”
Well, suffice it to say, the predictions have been proven accurate, and the future of the internet is now. If your company hasn’t yet adopted video content as part of its digital marketing strategy, then your business might as well be sitting on the sidelines while simultaneously driving consumers straight to your competition’s front door.
Why? Because content is still king, and yes, that includes video. Neglecting video is hurting your business. Here are four reasons why.
Your competition is using it
This one might be fairly obvious, but it still warrants mentioning. According to HubSpot, 87% of marketers are using video as a tool, and 90% of marketers “feel the level of competition and noise has increased in the past year.”
More and more marketing teams are loosening their purse strings to allow for the rise in video content marketing, not merely because they feel like it, but due mainly in part to the facts.
- Youtube is the second largest search engine (next to Google) and feeds over 1 billion hours of content to the consumer, every day
- 85% of US internet users watch video content on an internet-compatible device
- 54% of consumers want to see more video content from a brand they trust
So, if your company isn’t using video content, then chances are incredibly high your competition is.
You’re losing your ranking on Google
A report conducted by Wyzowl uncovered 68% of people said they’d much rather learn about new products and services by watching a video, while a recent Forbes article states the average user will spend 88% more time on a website with video.
With far less text to read and infographics to interpret, the consumer can immerse themselves in action-packed, emotion-filled, engaging content, thus increasing your website’s dwell time – “the length of time a person spends looking at a webpage after they’ve clicked a link on a SERP page, but before clicking back to the SERP results.” Once your dwell time increases, so, too, does Google’s ability to see value in your site. When your site’s value goes up, then so does your ranking in Google.
You’re not increasing your brand value
Video is an excellent way to show, explain, and demonstrate your company’s product offerings, which make tutorials and how-to videos some of the most captivating content out there. These videos illustrate how products work, showcase their benefits, and provide peace of mind to consumers before purchase.
When your company engages in a product by telling its story and proving a high degree of knowledge on the subject, the consumer is more apt to trust your brand and your products.
You’re wasting money on traditional advertising and marketing
Do you remember the last time you were able to interact with a billboard, or maybe the most recent instance when you could track data on the number of articles read in a magazine? Traditional marketing and advertising methods have come quite a long way from the time of newspapers, TV, radio, and catalogs; however, these messages leave a lot to be desired, especially when it comes to peak consumer engagement.
As technology has advanced, so have our capabilities in extracting data from our marketing efforts. Being able to monitor the ROI of your digital strategy, primarily through video content, is a beneficial tool when tweaking your plan to increase engagement and sales.
If a picture is worth a thousand words, then a video is worth, at least...1.8 million? Although measuring a video’s worth in words can be somewhat subjective, this projection of assumed value definitely gets the idea across.
Video is easily accessible, easy to consume, and captures the attention of the audience for more extended periods of time.
Contact Primitive Social to learn how one of our video marketing specialists can help your business.