Benefits of video marketing for service companies.

Demand of using video as a marketing tool is increasing as video is employed by many organizations in telling targeted consumers and audients their story, getting the word out about a new product or service, as well as recruiting employees or vendors. So, how can a service business benefit from video?

 

Before exploring the benefits of video marketing, there are several facts to know about using video in business:

  • 65% of millennials classify themselves as visual learners.
  • 59% of millennials will watch an entire one minute video.
  • Syndicast predicts that 74% of web traffic will be video by 2017.
  • 65% of executives have visited a vendors’ site after watching a video. (39% have called a vender after watching a vide)
  • 92% of mobile video viewers share videos with others
  • The  average internet user spends 88% more time on a website with video.
  • 64% of consumers are more likely to buy a product after watching a video about it.
Sources: (Guerin, 2015)
Benefits that online video brings to a business:
  1. Attracting new customers or targeted customers– An explanatory short video on homepage or social media pages enables new customers to understand a business’s products and services easily.
  2. Facilitating announcement of a new product or service– Video is a great way to get the word out and generate buzz for a new product or service. Moreover, an effective product/service announcing video will encouraged viewers to visit the product’s homepage for detail information, thus bring in traffic.
  3. Moving the customer through the business’s sales cycle– Effective video will move customers from attention and interest to conviction and action, thus boost company’s sale. Therefore, a deep thoughts on effective marketing video are necessary while making video marketing.
  4. Recruiting new employees/ inviting vendors– Having a video that feature company employees, show team working with business vendors, promote the culture of an organization can be very influential and effective in reaching the right and suitable employees or vendors. Here is a recruiting video from Apple Inc.
  5.  Validating business– Having customers to tell their story (customer testimonials) in the form of video provide an easy way to help validate business, build positive buzz about services and also create element of social proof. HP is one of the organizations who employed customer testimonial on its HP toner in form of video. Moreover, such video not only show who the business target demographic is, how customers were served well, but indirectly helps the business in reaching it targeted customers and excluding the customers they don’t want to work with.
  6. Sharing best practice– Both live and recorded video can be used to create a community for business’s clients by bringing its vendors and suppliers together for sharing best practice. This is also allow business to maintain a long-term and healthy relationship with its clients.
  7. Facilitating website’s search engine rankings– Video is searchable content on the internet and thus help in search engine optimizing.
After understanding the benefits of video marketing, there are 12 ways that a business can integrate video into its marketing. For further detail about the function of each video click here.
  1. Company overview video
  2. Video bio
  3. Explanatory video
  4. Training video
  5. Educational video
  6. Video press release
  7. Website FAQ
  8. Email video
  9. Presentation video
  10. Call-to-action video
  11. Trade show video
  12. Lobby video
In sum, use of video marketing is getting important due to the increasing number of video viewers. Therefore, a small business should wisely utilize the video marketing in differentiating itself from competitors and targeting valuable customers. However, some limitation of video marketing such as technical issues and time-consuming production should be taken into consideration so that a business could gain a maximum positive effects from it just like Walmart a successful video marketing case.
References:

Lancaster, J. 2010, Online Video Marketing 101, Penton Media, Inc., Penton Business Media, Inc. and their subsidiaries, Overland Park.

Luke, K 2013, ’12 Ways to Integrate Video into Your Marketing’, Journal Of Financial Planning, 26, 9, pp. 18-19, Business Source Premier, EBSCOhost, viewed 30 January 2016.

Ozer, J. 2009, “deep thoughts on MARKETING VIDEOS”, EventDV, [Online], vol. 22, no. 6, pp. 48.

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