In my time as a video production professional I've seen an extreme shift in the way business owners view advertising. Gone are the days of small businesses relying on word of mouth and return customers to keep the money flowing. Owners know that the marketplace is bigger and more competitive than it ever has been, even in smaller cities.
Big companies have been using commercial video since television began, and there's a reason for that; It works. That being said, it has largely remained a "big company" luxury as most small businesses can't afford the cost of production, let alone the distribution costs involved (cable, satellite, etc.).
The good news is social media has leveled the playing field. What once cost hundreds or thousands of dollars for meaningful distribution, now costs tens of dollars. You can reach the audience you want, for the amount you want, exactly when you want. Everyone is starting to notice and the stats back that up.
1. The use of video advertising increased 17% in 2017. (Wyzowl)
2. 65% of those who don't currently use video, say they plan to start in 2018 and 99% of those who already do use video, say they'll continue to do so in 2018.
3. 76% of businesses using video marketing reported an increase in traffic due to video. (Wyzowl)
4. Video is predicted to make up to 80% of all global internet traffic by 2019. (Tubular Insights)
5. Businesses that used video marketing grew revenue 49% faster than businesses that didn't in 2017. (Vidyard)
6. Intent to purchase rose by 97% and brand association by 139% when potential customers enjoyed a video ad. (Kissmetrics)
7. 80% of viewers can recall a video ad they’ve seen in the past 30 days. (Forbes)
8. 72% of consumers prefer video to learn about a product or service, even if text is available on the same page. (Wyzowl)
9. Organic Facebook engagement is highest on posts with videos (13.9%)
10. 85% of consumers say they'd like to see more marketing video from businesses.
Suddenly, the shift I've seen in the way owners view video marketing makes sense. It's easily the most effective use of an advertising budget. Not only that, small video production companies are cropping up that are actually worth their salt (ahem... Macromedia Productions...), willing to go the extra mile to create captivating ads, and can meet the budget requirements of pretty much any business. Video matters and more than that, good video matters.
Video marketing isn't only the now, it's the future. Are you prepared?