Why Video Marketing?
“Online video advertising is more expansive, less expensive, searchable, shareable—incomparable—expedient, significant—most magnificent—instantly trackable, easily testable, precise in targeting—effective marketing.” — Joel Ackerman
1. More expansive. People spend more time online than they do watching TV. And when your ad is online it’s online 24 hours a day. When it’s on TV, it’s on 30-seconds a day. In 2013, for the first time, people spent more time online than they spent watching TV. Over 40% of their time devoted to media was spent online. And it’s only going up.
2. Less expensive. Impressions online are way cheaper than on TV and most online sales have better margins than at retail.
3. Searchable. When someone wants to buy something, where do they go? Do they go to the TV and wait for a commercial about it? Online you can target people looking to buy. TV can only target passive buyers. (It may find active buyers but it can’t target them.)
4. Shareable. Of course, it’s almost impossible for people to share TV commercials, because they come and go. Even if they could, they don’t. Online, on the other hand, people share ads with each other all the time! Every time your facebook or youtube ads are shared that means you’re getting free advertising. Get free views with every purchase: use online video!
5. Expedient. When you advertise on TV, viewers still have to pick up a phone and go to a computer to buy, so your calls to action are often wasted. Online, customers can buy immediately! because taking action is a click away–convenient and practical. They can buy immediately, share immediately, or comment immediately. Whether they’re engaging or buying, you win.
6. Significant. Right now, it’s still a story when a company makes a splash online. Just by employing online video marketing, you can establish yourself as a leader in your industry. And if your competitors already have video–all the more reason, if you want to compete with them. “But my competitor uses video, and I’m still winning the majority share of business.” You won’t for long if you don’t adopt digital video into your marketing.
7. Instantly trackable. Every move, or lack thereof, is recorded online. You can see the results of your online video in real time as in-depth analytics are recorded for you. You can track how many people see your video, how long they watched it, if they clicked to your website and much more.
8. Easily testable. While in TV, testing dozens of subtle variations of your video would be very costly and difficult, online it’s easy as pie.
9. Precise in targeting. In TV, you can control the general geographic area that sees your ad, and by selecting the channel and time in which your ad runs, you can get a general idea of the demographics and interests of your audience–generally. Online, thanks to the meticulous info-gathering (stealing?) by Google, you can target precisely the geographics, demographics and psychographics of your target audience.
Those are the 9 reasons why there is a mad scramble by big brands and start-ups alike to start making online video marketing work for them. They know they have to. Do they know how to?