Why use video marketing?
- According to a recent study by Forrester Research, adding video to a website makes the site SIX times more likely to convert a “browser” into a paying customer.
- The same study showed that only 20% percent of web visitors will sit and read the majority of the text on a website, but 80% percent will watch the same content when presented via video.
- A company web site is also 50 times more likely to be ranked on Google’s front page of if it uses video.
- Online video is becoming a must for any business with a serious online presence. According to an estimate, by 2012 if a website doesn’t contain video content it won’t feature on Google’s first page of search results. Video is an incredibly powerful medium that can engage the viewer in a far more memorable and effective way than text or images alone.
- Retail site visitors who view video stay two minutes longer on a site on average and are 64 per cent more likely to purchase than other visitors, according to Comscore.
[Source: Why Use Video Marketing]
Interesting Internet Marketing Statistics for 2012
- Online video viewers will reach 169.3 million in 2012.
- 53.5% of the population and 70.8% of internet users (up 7.1% from 2011) will watch online video in 2012.
- Mobile video viewers will reach 54.6 million in 2012.
- Smartphone video viewers will reach 51.2 million in 2012.
Ecommerce in 2012
- 88.1% of US internet users ages 14+ will browse or research products online in 2012.
- 83.9% of internet researchers will make at least one purchase via the web during 2012.
- Online shoppers will reach 184.3 million in 2012, up 3.3% from 2011.
- Online buyers will reach 154.6 million in 2012, up 4.4% from 2011.
Defining ROI for Online Video
Enhanced Productivity and Cost Reduction
Since 2002, Bausch & Lomb has employed on-demand, executive Webcasts to keep their 10,000 employees informed about the company’s strategies and long-term business goals. According to company executives, justifying the cost of creating and distributing online videos is as easy as not having to fly two or three of them around to make the same presentation. Now a significant part of the company’s culture, online video is used more frequently and for a greater array of internal communications, such as giving departments the ability to create and upload employee-generated videos for marketing and IT support. Moreover, with only two people on-staff responsible for global communications to employees in 40 countries, these tools have made over-burdened jobs significantly more efficient.
In competition for online buyers, Barnes & Noble did something atypical of retailers – to apply the learnings of cable TV to a retail Internet environment with topical video channels and podcasts designed to entice product enthusiasts. The goal: create an online destination similar to their popular store environments where buyers would want to “hang out.” Looking to super serve online visitors with content, the retailer now adds nearly 300 new videos a month to its site, organized by product category. As a result, the company’s vast multimedia-enabled Website, launched in early 2008, now sees approximately 7 million viewers per month, a 40 percent increase over the previous year.
Through buyer data and customer surveys, the company knows that people who view their videos spend more on average purchases. This has enabled them to find the right combination of content to encourage visitors to return often. Average viewing time has grown to approximately 5 minutes, and video-enhanced product pages now account for two-thirds of all views.
Organizations like semiconductor giant, Intel Corp., for example, find that Web video does more than revamp the rules of traditional media distribution. It has emerged as an entirely new platform for their CEO and other company executives to speak directly with targeted constituent groups, and to assist reporters in developing stories through broadcast-quality video downloads and embeddable video players. Intel has also successfully harnessed the power of video in its social media efforts. Having experienced an almost unexpected popularity of its video portal – which includes more than 500 marketing videos and growing – Intel made it easier for users to identify and share videos originating from Intel’s video archives. This also enables Intel to track specific viewer information, helping the company to monitor performance benchmarks for its online video efforts.
The New Normal
Enterprise ROI is clearly fashionable, and as these examples demonstrate, the online video sector stands out among the few technology sectors this year that can truly deliver. But as the economy improves, is online video here to stay? I suspect we will not – and, in fact – cannot go back. It’s here. Companies, media and government agencies are now consuming online video at a rapid pace. Whether it’s through live Web conferencing or watching videos on a Website, it’s only going to grow.
In fact, at some of the larger corporations, the bigger issue now has been what do we do with it? There are no rules, no boundaries. Could video be used as component of customer support? Instead of getting a person live on the phone, could you actually just watch the short video that shows you how to plug that cable into your computer? What if this was not only better and more convenient for the end-user, but cost your company 62 cents instead of $18 per support call? Clearly, the definition of ROI will depend upon the application.