The ‘Reel’ Deal: The Power of Video as a Marketing Tool
May 7, 2018
Why video marketing?
Video allows advertisers to tell a story very quickly, and in a way that consumers have become accustomed to through their consumption of movie, television, and online streaming. Second, it gives advertisers the ability to connect to the viewer’s emotions, which helps them connect with the marketed brand in a meaningful way. Advertisers can create videos that possess a very specific intent, targeting niche audiences and getting precise reactions, in mere seconds. Produced and utilized correctly, video marketing can be a highly effective tool in growing brand awareness, fostering consumer loyalty, and capitalizing on return on investment (ROI) in a budget-friendly way. The following techniques must be taken into consideration when employing video marketing as a tool:
Live video marketing: Thanks to live streaming services being added to many of the big social media platforms, like Facebook Live, Twitter’s Periscope, and Instagram (though they are only temporary stories), live video has become increasingly common. Statistics have shown that consumers spend three times longer watching live videos than pre-recorded videos, which gives you a huge opportunity to share your message.
Virtual reality (VR) and 360 video: At the forefront of marketing trends in 2018, these types of video have the potential to make a tremendous impact on how video is created and watched. Virtual reality (VR) video encourages viewers to interact with content rather than sitting back and simply watching while 360 video gives users a sense of immersive space. YouTube’s 360 videos and VR in addition to Facebook’s VR headset are only two examples of how the future of video is increasingly favoring innovative production and experiential videos.
Video funnels: In the same way that email campaigns can encourage further loyalty from opted-in recipients, video funnels can be utilized over time to drive audiences from “awareness” to “action” phases using videos. Facebook and other platforms not only build custom audiences according to their behaviors but also re-target/modify audiences based on these behaviors.
So, how are these techniques applied? The following principles may be used as a guideline when developing a video marketing strategy:
Based on consumer insights, create a video marketing narrative that speaks to the target audience.
To capitalize on video marketing’s ability to connect with the viewer, it is necessary to develop consumer-specific messaging that resonates with the target audience. For this reason, it is vital to dedicate time to gathering consumer insights and data before launching a video. Unlike text, which can be easily modified if it’s not drawing attention, video generally has to be remade entirely and re-launched if changes to messaging are required. As an advertiser, here’s the bottom line: Do the research, study the target audience, and get it right the first time.
Set goals and establish Key Performance Indicators (KPIs) for video marketing campaigns.
It’s impossible to determine whether or not a campaign is successful without establishing measurable goals and KPIs. By definition, KPIs are measurable values that demonstrate how effectively a company, marketing campaign, etc. is achieving key objectives. As with other marketing strategies, A/B testing helps to set parameters for KPIs and tweak messaging for target audiences accordingly. Not to get too technical, but A/B testing is a controlled experiment used in web analytics with two variants, A and B. It’s just another helpful tool to determine what is and isn’t working.
Understand what type of video is correct for your specific goals and the platform you’re utilizing.
Video can be presented to your audience in a variety of ways, including:
- Facebook, Pinterest, LinkedIn, Twitter, Snapchat and other social media
- Embedded on a dedicated website
Research is necessary to determine where your audience is and which platform is best suited for specific messaging. Social media platforms that are more fluid, such as Twitter and Facebook, make it easier to share content, but that content can have an abbreviated shelf life. That means that these platforms are often better for short-form and live video, or for promoted content that is part of a paid-media campaign.
Longer videos might be better suited to YouTube or traditional media platforms. YouTube is an excellent platform for a series of related videos because it’s easy to create a playlist and encourage subscriptions for viewers to follow along. With YouTube, the active browsing feature allows advertisers to use SEO to attract audiences—a great alternative to paid advertising that can simultaneously offer added value.
Create cost-effective, impactful videos.
While there are multiple factors to keep in mind when creating a video, branding is among the most important. In the same way, websites and social media profiles are branded for immediate recognition, videos should also immediately signal brand identity to viewers. In this vein, the story that a video tells about a brand is central in conveying to viewers what the central message is about.
Independent advertisers may create videos in-house or a video marketing agency can create them. In-house video allows companies/independent advertisers more control over video and makes it easier to feature personal touches, such as messages from actual employees, patrons, etc. Depending on video experience, however, in-house production can cost more over time due to lost work productivity and money as video creation techniques are learned in real-time. Experienced creators at an agency can give clients a professional-looking video immediately, but sometimes this comes at a premium. Regardless of which option advertisers choose, clear communication with technical and creative team members are critical in creating a final product that communicates key messaging in an effective, inventive way.
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