The Value of Video Marketing
Did you know video is projected to claim more than 80% of all web traffic by 2019? According to inc.com, “you want to take big creative steps forward in establishing your business within the video internet marketing revolution. What used to be a future reality conversation held only in ‘techie’ circles is now in the present and this new reality is now setting the stage for the future of marketing.”
So what exactly differentiates you from the rest when it comes to branding yourself as a company, or even a product? The answer is simple: having visual appeal in the eyes of the consumer/follower.
We’re living in the age of visual entertainment, where we consume information so fast that visual content has become how we learn, retain, and understand everything around us. Content development is one of the main components when having a marketing initiative behind your brand or product, which is why incorporating video advertising/marketing should be on your dossier.
Now, with resources and channels such as Facebook / Instagram Video Ads, Live-Stream, Snapchat, YouTube Marketing, and Periscope, the possibilities are endless when taking that first step into your Video Marketing initiative. By simply curating an Instagram Story with videos of your team hard at work, for instance, you not only bring value to your company but illustrate to clients/consumers that you’re willing to showcase your core value, what you stand for and/or what you have to offer.
Four Questions to Ask Yourself
First things first, you need to have a specific strategic video marketing campaign on different platforms – and you want to get back to the fundamental questions driving it:
- Are you simply trying to draw in followers?
- Do you want to showcase your business/brand or product?
- What type of audience are you trying to target?
- What attainable goals are you willing to commit to?
These are the types of questions you must ask yourself when taking the video marketing approach. It’s the simple difference between posting an organic video on social and having a paid video with a strategic outlook on what the campaigns initiatives are.
Video Ads / Live-Stream
According to Social Media Examiner, “video gets three times the engagement compared to other content, and it’s largely underutilized”. Facebook offers video advertising which increases exposure surrounding your brand or product, and also leverages awareness as well. If you’re marketing something specific, whether it’s an event, special deal, or even your services as a company, incorporating video is essential to your marketing efforts.
Facebook Video Ad Case Study: LIMA
LIMA conducted a campaign before Licensing Expo 2017 to create more awareness for our Licensing University program taking place at the show. We ran two Facebook Video campaigns to give a visual of the sessions at the show and to increase overall traffic to the site. Each campaign ran from May 16th – 21st, and the initial engagement was rather surprising for the short period of time they were live.
We created simple testimonial videos – no longer than one minute each – from some of the moderators for Licensing University, explaining the general scope of what their individual sessions would entail. Two of the testimonials we chose to promote via Facebook advertising were Basics of Licensing and Everything You Need to Know About Royalty Rates – evergreen topics that we were confident would have a wide audience appeal:
- Basics of Licensing: for this video, we had the pleasure of working with Ira Mayer, who filmed a fun “show-and-tell” clip about how licensing is all around us. In a mere five day, our ad reached 3050 users, 1243 views, and 68 clicks. Note: you want as low a cost-per-click as possible for each campaign – it’s a basic formula of the more people that click, the lower your financial expenditure on the campaign. For the Basics video, our cost-per-click came in at $1.93 – for perspective, the B2B industry average is $2.52.
- Everything You Need to Know About Royalty Rates: Maura Regan’s video got massive results in terms of engagement. The campaign reached over 4425 users, 2132 views, and 95 clicks. Our CPC for this session came in at $1.87.
Our objective was to increase traffic to licensing.org – looking back at the numbers, we were effective at creating buzz around Licensing University while successfully bringing visitors to our website to learn more.
Now more than ever is the time to step into the spotlight and showcase your company, brand, or product. People from all over the web are waiting to visually see what you’re made of, what core values you stand by and what you have to offer. So before starting your first video marketing initiative, just make sure your objective is clear, you know what audience you want to target, and you have a set goal to accomplish.
By: Steve Sparacino – Social Media & Marketing Coordinator – LIMA