Over the past year, we’ve noticed a stiff increase of demand for video productions, mostly for the benefit of improving our clients’ websites and with the purpose of increasing the conversion rate of website visitors. I predict that this will become an even bigger trend in the next few years, and that video will increasingly become the way of communicating key messages to clients.
According to a comScore study, released in February 2011, 82.5% of the Internet audience viewed a video online. In a 2010 report from Cisco, 30% of Internet traffic is currently video. By 2013, 90% of Internet traffic will be video. These are impressive statistics, and when looking at the YouTube statistics below, this becomes even more convincing:
YouTube is the second biggest search engine (after Google).
60 hours of video are uploaded every minute, or one hour of video is uploaded to YouTube every second.
Over 4 billion videos are viewed a day.
Over 800 million unique users visit YouTube each month.
Over 3 billion hours of video are watched each month on YouTube.
More video is uploaded to YouTube in one month than the 3 major US networks created in 60 years.
- In 2011, YouTube had more than 1 trillion views or almost 140 views for every person on Earth.
Consider these additional statistics:
When a video is present on a product page of your website, consumers spend 9% more time viewing the page compared to when no video is present.
Virtually 60% of respondents said they would watch video previous to reading text on the same webpage, and 22% said they generally liked watching video more than browsing text for examining business information.
75% of all executives said they watched work-related videos on business websites at least once a week, and more than 50% use YouTube to watch those videos.
65% of executives surveyed by Forbes visit a vendor’s website after viewing a work-related online video.
All of this culminates in the conclusion that you should start implementing a video content strategy if you haven’t done so yet. Here are the top 5 reasons why you need a content strategy for videos for your business:
Your clients want it
All of the trends indicate that your clients want video from you. Not delivering on this desire only means somebody else will.
More content in less time
Video is a unique way of communicating a lot of information in a short period of time. According to Dr. James McQuivey of Forrester Research,watching a minute of video is the equivalent of reading 1.8 million words.
Branding is a complex business. Videos allow you to further craft and shape your brand. Video allows you to convey emotions that you can’t bring across with text and still photos only; it provides you with an opportunity to add different attributes to your brand.
We have clients that use their videos not only on their website, but also push them out through all the other online channels (e.g. YouTube and Social Media). In addition, they often use the videos in presentations in offline settings, e-mail marketing campaigns or on TV in waiting rooms.
Videos improve the overall quality of a website, and how the website is used.
Show your personality and profile
Video allows you to project a better and more personal profile to your company and as well as your clients. For example, lawyers or doctors can give videos a personal touch, which is something that clients very much respond to.
Using videos in E-Mail marketing generates 2-3 times higher click-thru rates compared to static E-Mails.
Video prepares you for the future
Roughly 66% of the world’s mobile data traffic will be video by 2014. All smartphones and most mobile devices are optimized for video consumption. Being able to provide content in video format increases your ability to differentiate yourself from your competition.
So what does all of this mean for us and our businesses? It indicates that people love to consume video and we have to adjust to that fact and serve them with the type of content that they prefer. Yes, a lot of the online video consumption is driven by recreational and entertainment videos. However, there is clear evidence that video is equally prominent and impactful for business purposes.