Whether the mere thought makes you cringe, or you just wouldn’t know where to start, we’re afraid there’s no getting away from it.
We now spend a frankly mind-boggling 17 HOURS per week on average consuming online video content, with more than three billion internet users watching, streaming or downloading video at least once a month last year.
Okay, that data probably includes people watching TV and movies, and all stats have to be interrogated and reviewed in context, but you don’t have to investigate too deeply to know video has risen up the list to become the most powerful form of marketing to promote your business today.
When all the data is saying the same thing, and it mirrors what works for our clients, and you can see with your own eyes how people around you use video, it’s fairly safe to act upon.
Let’s have a quick look at what some of those stats are telling us:
- Online videos can reach a whopping 92% of the global audience. While music, memes and live streams make up most of them, other content such as tutorials or how-tos, educational videos and products reviews also have a decent global penetration of around 25%. (Statista)
- 91% of businesses now use video as a marketing tool (Wyzowl)
- Testimonials, explainer videos, product demos and sales videos are among the most popular formats in video content (Statista)
- Consumers love video content – 91% have watched a video to learn more about a product or service and 82% have then been convinced to buy (Wyzowl)
- 90% of marketers say video marketing has given them a good return on investment (Wyzowl)
- 92% of businesses are satisfied with the ROI of their social media video marketing (Animoto)
Of course none of this is telling us anything we didn’t already know. We know consumers like video format; that they find it more digestible, more informative and relevant and just generally more enjoyable. We’ve highlighted video as a crucial element of a business’s digital marketing strategy before.
Video-based search
We also know YouTube is the second most visited site on the internet, where people are actively searching for video content, and we have witnessed the monumental rise of TikTok in recent years.
However, the newer trend is the growing opportunity for businesses on TikTok, which is now becoming much more than an entertainment hub.
The platform is rapidly emerging as a search engine tool which consumers are using to look for products, services and information.
Data from a recent Adobe study showed 41% of Americans have used TikTok as a search engine, rising to 49% of Millennials and 64% of Gen Z. And it’s not just younger people using the platform either, 14% of baby boomers and 29% of Gen X have also used TikTok to search.
Far from trending dance challenges or cat videos, the top searches are for recipes, DIY tips, fashion advice, workout routines, beauty advice, product recommendations, products and services, health tips, new restaurants and books.
As well as entering any relevant search terms, users can filter their search based on additional criteria such as video type, length and upload date.
What do businesses think?
More than half of businesses surveyed in the Adobe research had used TikTok to promote their business, allocating 15% of their budget and posting an average nine times per month.
They reported that certain types of content, such as video tutorials, reviews, trending challenges and memes, personal stories, short text slide shows and Q&As, performed better on TikTok than other search engine results pages.
More generally, video-based search also results in a 41% higher clickthrough rate than text-based content.
Putting the strategy behind the video-based approach
Visual content can be much more effective as an informational or inspirational tool compared to text only. Imagine a video walk-through of your brand new restaurant compared to a text description, or a demonstration of a business using a new tool compared to a drawing or photograph of the same.
A testimonial of a real customer vouching for your service, rather than a paragraph of text on a graphic, a walk-though explainer video of how to set up a software system as opposed to a written guide, a video of someone making a recipe using a product you sell, compared to a standalone advert – the opportunities for video are literally endless.
Not only can you use video in all your digital marketing, you can now also use it to leverage the power of the search engine.
Obviously there needs to be some strategy behind this approach to make sure your video features in the search results. This involves employing the same tactics as you would for your wider search engine optimisation campaign. It means knowing what your audience is looking for, what type of content they respond to, what your keywords are, what trends might be relevant and so on.
While there’s clearly plenty of untapped potential in TikTok – and video as a search engine in general – it’s often worth investing in some expert help to create a specific strategy. This ensures the necessary time and expertise can be invested into creating content that actually converts into sales.
To discuss the potential power of video marketing for your business, get in touch with the EBY team today.