Video Marketing
Reduce Long Sales Cycles with Video Marketing
Video marketing is no longer an up-and-coming thing. It is here, and it has already taken the world of marketing by storm. Here, we discuss why video marketing is important for businesses, especially those with long sales cycles.
Video Marketing Statistics and Facts
Wyzowl conducted in-depth research on the State of Video Marketing in 2021. Here are a few key stats and figures from the report.
- Around 87% of marketers use video as a marketing tool, and rightfully so, too – video content is in high demand.
- More than 96% of consumers watch an online explainer video to learn more about a product or service before they purchase it.
- 84% of viewers claim that video content helped them make a purchase decision.
- Video also helps increase brand recall and content retention. In fact, an average video retains 37% of viewers till the very end of the video.
- 68% of consumers would rather watch a video than read a block of text, which proves the point that customers prefer visual content over blogs and long-form articles.
These statistics indicate the immense potential for video marketing, especially for businesses with longer sales cycles. A longer sales cycle means that the customer will interact with the brand at different stages with longer intervals between each stage. This is why it is important to stay top-of-mind throughout the stages. The stages vary by brand, but the three main categories include awareness, consideration, and decision-making. Here’s how video marketing can help you win over your customers at every stage.
The Awareness Stage
The awareness stage is the initial stage, where the user first comes in contact with the brand. Here, video marketing can help you capture a customer’s attention. Truth be told, video marketing might very well be the best way forward to capture your audience’s attention and pull them toward your brand.
According to YouTube, as quoted by Forbes, video consumption rises by 100% every year. A survey by HubSpot also found that 54% of online viewers would like to see more video content. Why not make use of videos to increase your business sales? It’s an open goal!
Video is also ideal for your Search Engine Optimization. Google’s algorithms love videos; thus, video content ranks better and can increase organic traffic to the site by over 150%, which helps businesses increase awareness.
Consideration Stage
During the consideration stage, the customer is likely unsure about whether the product or service is right for them or not. Here, videos can help your target audience make the decision to purchase your product or service. If you are running online ads, you can use video to retarget interested prospects to help move them towards a purchase.
93% of brands surveyed, in the State of Marketing Report by Wyzowl, report having gotten a new client through video content posted on social media. Watching a marketing video also boosts purchase intent by up to 70% as per the report’s findings.
Decision-Making Stage
Videos help build trust between customers and brands, and this trust plays an essential role in the decision-making stage. According to a survey by Animoto, around 20% of customers lose interest in a product or service if it doesn’t come with a product video. So, even if you do manage to bring in leads through your traditional marketing strategy, you might not be able to turn them into paying customers if you don’t make use of video marketing.
These statistics are a clear enough answer of why video marketing is important for businesses. It is the main driving force behind social media engagement and is the best-performing content in the digital sphere as per the latest consumer trends.
If you, too, would like to leverage the power of video marketing, reach out to Wahoo Films today. We can create your professional B2B videos, corporate videos, explainer videos, and other types of video content to help you grow your business into a brand and achieve your marketing goals.
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