Video is much more effective than the text or other content that’s why almost all businesses use video for numerous business processes extensively. There are many ways the enterprises use videos such as marketing, explainer, product demo, and many others. According to a prominent researcher working with Forrester Research Company, Dr. James McQuivey, the impact of just one minute video is almost equivalent to about 1.8 million words.
This article will talk about the importance, impact, and major trends of video marketing in the modern eCommerce and mCommerce business environments. To accomplish the technical requirements related to eCommerce and video marketing of your business,find here the most useful information that your business can benefit from.
Importance of Video Marketing
Video marketing has become a very powerful tool in all types of business in modern business ecosystems. The ratio of companies using video as a marketing tool has reached 87% in the first quarter of 2019. Earlier, it was 63% in 2017 and 81% at the end of 2018. That means 100% of companies using video as a marketing tool is just around the corner. You can start an e-commerce business with by hiring any Magento eCommerce Website Development and start selling things by promoting it via videos.
Video interacts with human through multiple perception channels and creates exciting impact to act on the message. The major perception channels include visual, audial, and emotional. The newer technologies improve the quality of audio, video, and sensations, which lead to triggering of high-voltage sensation in humans.
Video marketing is offering higher and faster ROI to the enterprises by increasing conversion rate. The role of videos in all major marketing strategies has become so pivotal, especially in content marketing strategies.
Video Marketing in eCommerce Field
A huge ratio of91% of the marketers believes that video is a very important tool in developing effective marketing strategies for eCommerce businesses, according to the state of video marketing report 2019. The impact on human through video is many times more than the text or other forms of content. A research expert at Forrester once said, just one minute video is more valuable than over 1.8 million words in human perception.
eCommerce field is fully based on technology and content; there is no direct involvement of humans in customer interaction. So, better content like video can establish an emotional connection between the content and the audience more effectively.
Owing to the effectiveness and popularity of video blogging (vlogging), many marketers are considering how to make money vlogging for enterprises. According to the video marketing report 2019, more than 68% of people prefer to use video for learning any product, brand or service. This report further found out that video marketing increase user understanding (94%), traffic (84%), and dwell time (80%). More than 81% of people believe that video marketing generates leads and increase customer loyalty. In the nutshell, video marketing is a major component to make your marketing strategy successful.
Video Traffic Trends
According to theCisco Systems, the video traffic will be about 82% of the total IP traffic worldwide in 2022 with over 33% CAGR between 2017 and 2022. The virtual reality (VR) and augmented reality (AR) traffic will increase twelve-fold during this five year period. Business process automation, customer relationship, entertainment, gaming, and other sectors are other major domains where video traffic will increase substantially.
If we have a look at the status of video marketing trends 2019 report, we will find that over 34% of people watch videos fully on mobile devices as compared to the 17% of people who watch videos fully on desktop devices. The others share both mobile and desktop devices. So, watching videos on mobile devices is a new trend, which has already surpassed desktop viewership.
5 Powerful Video Marketing Trends in 2020
Video has already hit the marketing ground very hard in the past few years. The power of video marketing has increased substantially in the marketing domain. The use of new technologies and trends in video marketing are emerging. Let’s have a look at the powerful video marketing trends that will prevail in 2020.
#1 100% Video Marketing Around the Corner
According to the WYZOWL research report, the use of video in the marketing sector has reached 91% in the first quarter of 2019 from 81% in 2018 and 63% in 2017. The average growth of video content in the digital market has noticed a huge double digit growth for the last 3 to 4 years. This exponential growth also increased volume of online sales and revenue of the businesses. If this trend continues, we can expect 100% of businesses using video marketing extensively in their respective marketing strategies.
In another latest survey, it was found that more than 91% of the marketers want to use video content in their marketing strategies and campaigns in 2019 owing to the success rate of videos.
#2 Voice Over Videos
The voice-over videos are becoming a new trend for establishing a proper connection between the video and the audience through the human voice. The animated videos are easy to develop and cost comparatively less; when those videos are given voice-over touch, they become more effective and productive for the businesses. Moreover, the technical how-to-guides are other important content that leave a good impression on the marketing. The voice-over on those how-to-guides make the learning curve easier and create a great user experience. An impressive voice over the videos gives the soul to the video that connects with the audience more effectively. This trend will prevail in video marketing in the coming years.
#3 Virtual Reality (VR)
The use of Virtual Reality (VR) technology is still in its initial stages, but it is still a very promising technology, which will become a big trend in the coming years. About 11% of the marketers are using VR 3D technology for marketing purposes. There is a huge growth in the wearable gadgets in the global market. The wearables use multiple sensor to enjoy the video content in 3D environment. The video content related to marketing stuff will increase excitement in the viewers to purchase the products or services. Thus, the revenue of the business increases significantly. The growth of VR is expected to remain over 54.84% from 2018 through 2023. Many experts and researchers believe that this trend will increase in 2020.
#4 Targeted Video Platforms
The creation of videos same for all platform is not a valid proposition now. The marketers choose platforms as per age group. Facebook has a large majority of older age people, while Instagram has the audience of younger age. As far as the professional platforms are concerned, most of the marketers use LinkedIn and similar types of platforms. If you don’t choose the right platform for your video content, the impact will be very low. You can get the best results when you analyze this aspect of focused marketing. In the future, marketers will create and market their videos accordingly in the future.
#5 Storytelling Video
It has been found in many research studies that storytelling videos are the most favorite for the audience in the present day marketplace. Based on this data-driven analysis, many platforms have started the options of sharing stories. You should have already used one on Facebook or on any other social networking platform. The effectiveness of storytelling videos is expanding hugely that compels the marketers to use storytelling formats of videos in the modern digital marketing. This trend is increasing consistently. The storytelling style of videos connects with the audience more effectively and produces the most desired business results. Storytelling videos will remain among the top trends of video marketing in 2020.
Types of Video Content Every Marketer Should Use in 2020
Digital marketing has become very complex and it uses numerous types and categories of contents to develop a marketing strategy. Video marketing is a very powerful tool that is extensively used by marketers in numerous ways to create effective marketing campaigns.
An expert marketer uses the videos in his/her marketing strategies in the following categories.
An explainer video is the basic form of video that paves the way for an effective marketing strategy. Owing to the effectiveness of the explainer video marketers choose this form of video for the targeted audience to learn about the product or service in a video no longer than 120 seconds.
These forms of videos are extensively used for providing the know-how about the technical aspects of the product and how to use that product. The demo videos are highly popular in the audience to learn about the service or product as compared to the text content.
Company Story Video
Marketers use video to introduce the company to the audience. The core values, mission, and goals of the company are presented to the viewers. The company environment, the message of the company founder and its employees can be effectively presented in this type of video and used for marketing purposes.
Live Social Videos
This is one of the most effective video marketing trends that digital marketers use extensively to develop a human connection with the audience. These kinds of videos can also be interactive so that the customer connects with the company and its products. Facebook and other channels are used for live social videos for marketing purposes.
Commercial videos are in use for many decades now. This trend still continues in the modern digital marketing sector for eCommerce as well as for the traditional forms of businesses. The video advertisements of less than 30 seconds produce a very impressive impact on the audience to introduce the product with an exciting touch. The global market size of commercial videos is gigantic owing to the use of celebrities and prominent figures in the ads. It is a huge multi-billion market, and so is its impact on the businesses.
Text-based testimonials are less effective as compared to the video-based testimonials. These videos create confidence and self-assurance in the audience. Testimonial videos also help in developing exceptional customer service strategies by promoting the services and support of the company.
Other than the above-mentioned ways of using videos for marketing purposes, retention, customer support, and step by step guides are other important ways in which the videos can be used for marketing purposes.
The impact of video marketing on sales is huge because:
- It is easier and more attractive for viewers
- It leaves a better and long lasting impression
- It is more exciting than text or other content
- It is compatible with new technologies and innovative ideas
- It has become the most used content on the internet
- All social platforms support video content very effective propagation of information
- Video content is transitioning as the top content for digital marketing in the future
Thus, it is very important for your business to choose the latest trends of video marketing mentioned in this article.