The modern world is arguably the best time in history for business and marketing, and the reason can be summed up in two words: video advertising. It was only a few short years ago that this phrase applied almost exclusively to television commercials, and the cost of creating a television commercial and having it air on anything other than community stations with 50 total viewers was far beyond the financial reach of the average small business.
Oh, how the world has changed. Today it’s estimated that there is more video content uploaded in any given 30 days than the big three US television networks have created in the past 30 years. This year, online video will account for 74% of all online traffic, with more than half of people watching online videos every single day.
There are two major reasons for this trend as it’s related to the future of video. First, video advertising is unquestioningly the most effective form of marketing. Every study bears this statement out, and it all comes down to the human psychological condition and how the brain receives and absorbs information. Without getting all scientific, video just works. That’s why for over 50 years advertising in film and television, including the more subtle approach of product placement, has been the gold standard for persuasive marketing.
The second reason is the cost factor. As we recently discussed, anyone with a smartphone and a creative mind can now make an effective marketing video with the smartphone they already own and a few hours of effort. The cost barrier for video production simply doesn’t exist anymore, relatively speaking.
We’ve all heard the saying that content is king, and it’s true. That’s why content marketing has definitively conquered SEO marketing online (not that SEO is dead, it’s just different now). In the same way that most people choose to watch the movie instead of reading the book today, content marketing has moved beyond longform text pieces and is now consumed more often in video form.
Last year over 60% of businesses said that they used video as a marketing tool, although 66% of those weren’t doing so just a year earlier, and over 90% of them planned to at least maintain their video advertising budget if not increase it moving forward. Google loves video, and your website is 53% more likely to appear first in search results if you have a video on it. Honestly, we could list pages of statistics that together provide undisputed proof that video advertising is the best thing you can do for your marketing efforts, but here are just a few more to consider:
If your business hasn’t fully embraced video as a major part of your marketing strategy, the statistics say that you’re not only missing out on potential business, you’re being left far behind by your competition. We can help. We at Agency 850 are the experts in professional video production for businesses, whatever your needs may be. Contact us today to see how we can help you make the most of the biggest marketing shift in history.