Moovly did the math. If one photo is truly worth 1,000 words, then a one-minute video is the equivalent of 15 million words.
What does that mean for your business? It means that professional video production should be a significant part of your marketing budget. While “significant” is relative, professional videography should account for a large portion of your marketing budget regardless of the industry you’re in. If it doesn’t, the odds are good you’re missing out on a lot of opportunities that could take your operation to the next level of success.
If you’re skeptical about the ability of professional video production to propel your business to the next level, consider the following five reasons that demonstrate why professional videography is so important to businesses of all sizes.
Consumers Prefer Video Content
According to Wyzowl, nearly 80 percent of consumers prefer to watch a video to get more information about a product instead of reading about the product. There’s plenty of evidence that supports the fact that consumers like videos more than written content. For instance, approximately 500 million people watch videos on Facebook on a daily basis. About 10 billion videos are viewed on Snapchat every day. Around 82 percent of the individuals who use Twitter use the platform to watch videos.
People aren’t just watching videos at their desks. They’re also watching videos on the go. And they’re doing so often. According to YouTube, video consumption on mobile devices increases 100 percent year-over-year.
Improves Search Engine Ranking
Even if you’re not tech savvy or a daily user of social media, you’ve probably heard that Google now owns YouTube. Since Google purchased YouTube, videos have become increasingly important to how your company’s website will rank in online searches. According to Moovly, websites with embedded videos are 53 times more likely to rank first in a search conducted using Google compared to websites that don’t have videos.
An Opportunity to Explain
Using professional videography gives you the opportunity to explain something about your product or service, which is critical to building trust in your brand as well as your individual goods or services. If you don’t think explainer videos are important, think again.
An estimated 91 percent of consumers have viewed a video that explained a product or service. Out of the businesses that have an explainer video on their homepage, 62 percent claim the clip is an effective marketing tool. Approximately 97 percent of those businesses also claimed that their explainer videos improved consumers’ understanding of their goods or services and 81 percent credited their explainer videos with boosting sales.
Increases Revenue Quicker
Research shows that marketers who use video successfully increase their revenue 49 percent quicker than those who don’t. To demonstrate professional video production’s ability to improve your bottom line even more, 52 percent of marketers located around the world cite video as the content that has the best return on investment.
If they had the right resources readily available (e.g. time, budget), 43 percent of marketing professionals say they’d create additional video content. With 71 percent of marketers claiming that video conversion rates exceed the conversion rates produced by other content, it’s easy to understand why so many marketers would produce more videos if they were able to do so.
Increases Engagement and Click Through Rate
In today’s business environment, it’s increasingly important for businesses to engage consumers. Using professionally made videos is a great way to engage consumers and increase your click through rates.
Shoppers are 10 times more likely to engage with video content than they are with other kinds of content. With an average click through rate of 1.84 percent, video advertisements have the highest click through rate compared to other types of online ads. If an introductory email includes a video, the corresponding click through rate generally increases by a whopping 96 percent.
If you’re convinced that you need to start factoring professional video production into your marketing budget, contact NW Media Collective Inc. We’ve produced dozens of effective videos for local and international businesses and we can do the same for your organization. Give us a call or contact NW Media Collective Inc. online to learn more about our video production services today!