5 reasons why you need a video marketing strategy

the-rise-of-social-video-in-2015

Effective social media marketers understand that engaging people on social media requires establishing some kind of connection with their audience. 

While social media connections can be made in a number of ways, there is one primary motive that underpins all human connections and is common to all social engagement.

The secret to connecting with people on social

To truly engage a customer through social media, a social media marketer needs to provide them with something of value.   This involves making a value proposition. 

Value propositions can take several forms.   Some of these can include:

– a financial value proposition (saving someone money).   

save money

– a practical value proposition (saving someone time).

save time

– an emotional value proposition (providing someone with a positive emotional experience).

make someone laugh

While there are literally an infinite number of value propositions that can be made, a social media marketer needs to determine how they are going to present this value proposition.  That’s where the importance of social video comes in.

The magnitude and increased value of social video

Social media influencer Gary Vaynerchuk doesn’t mince words when it comes to social video.

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Here is how Gary Vee puts it: 

The single most important strategy in content marketing today is video. Whether it’s video on Facebook, Twitter, Snapchat or Youtube, the content you need to be thinking about creating and marketing on social for your business is video. Period.”

He goes on to say, in no uncertain terms:

“No matter what you’re selling, no matter what your company does, if you don’t have a video marketing strategy for the biggest video platforms, you are going to lose. And in case you haven’t noticed, the platforms of distribution for video content online have shifted drastically over the last 18 months. Facebook is getting more daily minutes watched than YouTube, Snapchat’s daily views are now in the billions, and video on Twitter has taken listening and one to one branding to a whole new level.”

The recent meteoric rise of social video is evident in the staggering increase of videos being produced and watched every day. 

To make this point, recently Facebook founder and CEO, Mark Zuckerberg announced at the company’s third-quarter earnings call, that Facebook is generating 8 billion video views per day.   

According to data from Facebook:

The number of video posts per person has increased 75 % globally and 94 % in the U.S.

The amount of video from people and brands in the Facebook News Feed has increased 3.6 times year-over-year.

More than 50 % of people who visit Facebook in the U.S. every day watch at least one video.

According to a report by Cisco, by 2019, video will account for 80 % of global internet traffic.

Given the increased importance of video in the digital and social media landscapes, following are 5 reasons why social video is critical to a company’s marketing efforts.

1. More social networks are rolling out native video, demonstrating its growing value.

Facebook, Twitter, Instagram, and Snapchat all have their own video features. And then there are the platforms whose main function is social video sharing, such as Vine and YouTube. For live video there’s Periscope, Meerkat, and Facebook, which has updated its News Feed algorithm to favour live video.

2. Social video owns the all-important 18 to 33 year-old demographic.

Millennials are spending less time watching television (if they even still own one) and more time watching video on their mobile devices and laptops. It is estimated that by 2030, millennials will comprise 75 percent of the global workforce, making it hard to ignore video platforms that resonate well with this key audience.

3. Video is unique in its ability to connect with viewers.

If a picture is worth a thousand words, how many more words is a video worth?   There can be no denying that the combination of moving pictures and accompanying audio has the ability to move and engage people like nothing else.

4. Businesses are leveraging social video in increasing numbers.

A 2016 survey by the Web Marketing Video Council found that 61 percent of businesses are using video as a marketing tool. In the previous year, 66 percent of those businesses were not using video at all. It’s clear that companies are quickly recognizing the growing power of video.

5. Social media videos can deliver impressive Return on Investment (ROI).

72 percent of businesses who use video say it has increased website conversion rates.

In fact, a recent study showed some impressive statistics regarding video conversion rates.

social-media-statistics-india-study-2015-8-638

The statistics clearly demonstrate that video is increasingly dominating the social media landscape.  Organizations would do well to increasingly harness and leverage video to provide added value to their stakeholders and customers.

For more information on the growing role of social video and tips on how to use video to expand your social reach, following are some links of interest:

The rise of video marketing on social and how it affects your business

Why Video is the Social Media Trend to Watch in 2016

A Guide to Social Video, and Where it Fits in Your Marketing Plan

I want to hear from you

* Have you ever participated in a live video broadcast using an app such as Facebook Live, Periscope or Meerkat?  If so, what was your experience like?

* Will the rise in video on social media impact the way you do social?  If so, in which way will you be changing your social media habits and practices?

I want to hear from you.  Please join me in the conversation.

Connect with me on LinkedIn.