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The proliferation of mobile devices coupled with many social media services expanding their support of video content is making this the heyday of video.
You may be asking yourself why your brand should invest in video. Yeah, it’s cool. But it’s undeniably more expensive to develop than other types of content marketing. The reasoning behind the push for video content may surprise you.
“Facts tell, but stories sell.”
Video lets companies go beyond sales and marketing speak and differentiates brands from competitors, while also increasing information retention.
Take, for example, my favorite content marketing video. Dollar Shave Club’s piece explaining their service intentionally burns a hole in customers’ minds through their funny bone. With one part machete, one part dancing bear suit and one part charismatic wit, you have a recipe for gold.
Besides making me laugh every time I watch the video (which is too many times to count), Dollar Shave Club has created a content marketing unicorn. First posted to YouTube three years ago, the video has amassed a little over 19 million views during its time on the Internet, gained fame among marketers across the industry and introduced millions of customers to its products and overall brand.
How does Dollar Shave Club use its videos as a lead generation tactic versus just a general brand awareness tool? The bulk of the video content created doesn’t live on YouTube. In fact, you have to sign up and follow the brand on its website and/or Facebook account to access exclusive content that has been tailored to the specific channel. This swapping of information for content transforms the videos from simply brilliantly funny to brilliant marketing.
While typically thought of as content best used to build trust between a brand and its customers, many B2B marketers are reporting that video has demonstrated significant value as a lead generation technique. Dollar Shave Club is just one example of a brand using video content successfully for lead generation.
The proof is in the numbers – video is the latest hot lead generation technique
Recent research from the Aberdeen Group has found that companies using video require 37% fewer visitors to achieve the same results as those brands not using video due to differences in average website conversion rates. The average website conversion rate experienced by brands using video is 4.8% — much higher than the 2.9% conversion rate achieved by brands not using video.
But, you may be asking yourself, what about the cost? Conversion rates are great, but is the cost-per-customer acquisition so high that you’re actually losing money? Not at all.
Companies using video demonstrated a lower cost-per-customer acquisition, according to the same study by the Aberdeen Group. Companies using video reported an average cost per marketing-generated lead of $93. Companies not using video reported that same cost at $115. Can you really pass up a lead generation technique that has a cost-per-lead reduction of 19%?
Table: Increases in marketing-generated revenue from video use
Whether you viewed video as a strong B2B lead generation technique prior to this or not, the proof is in the statistic — video is proving itself as a strong lead generation tactic. The medium entices potential new customers to interact with brands beyond the wandering precursory search so many buyers conduct when looking for new products or services.
According to Forrester Research, “Today’s buyers might be anywhere from two-thirds to 90% of the way through their journey before they reach out to the vendor.”
Video’s ability to transmit information quickly allows companies to connect with high-quality leads as they are in their exploratory phase so that the brands can help control the conversation and direct potential customers to the right solution.
Video boosts engagement with low-involvement categories
Video’s power even works for low-involvement B2B companies that typically find their customers don’t interact or pay much attention until disaster strikes or it’s time to pay a bill. Take, for example, utilities or financial services: Both segments offer a valuable service to customers, but unlike other types of purchases, clients are typically not looking to interact more than necessary. But what if you could re-energize your client base? Video content has the ability to attract, educate and re-engage the attention of B2B customers who might otherwise have tuned out messaging.
Consider incorporating video in a number of different customer touch points to increase engagement. Using video in landing pages can boost conversion rates up to 80%, according to Unbounce; while Brainshark reported that including video in emails can help boost open rates by 20% and increase click-through rates by two or three times. By creating helpful resource videos or dynamic vlogs, brands can boost engagement with hard-to-reach customer segments.
Important note: Videos created for a campaign don’t have to live in the Disney Vault. Make the most of the investment by planning a strategic shoot and have a creative video editing team slice and dice the video for multiple projects, while also getting plenty of still images for future campaign uses. Also, don’t forget the power of timing. The video can be used in multiple places and shared or promoted through email, banner ads, embedded in blog posts and social media. Go into the project with the following mindset: “How can we get the most ROI of a video shoot and where can we use this content to achieve our benchmarks?”
Video is an investment, not unlike text content, but it is harder and more expensive to manipulate, which is why planning is crucial. However, when done well, video is worth the investment. Ninety percent of the information transmitted to the brain is visual, and those images are also processed much faster than text – 600,000 times faster. We can get the sense of a visual scene in less than 1/10 of a second.
This ability to quickly convey messages, when done right, means that video is resulting in real customers and real profits. Video’s ability to not only attract attention, but also assist in customer retention and engagement is why it is one of the many types of content marketing suited for lead generation.
If you’re interested in learning more about how video and content marketing can help you strategically connect with high-quality leads, consider contacting J&C for a free content marketing assessment. Leverage the power of content marketing to drive more than website traffic and instead drive conversions.
Topics: Inbound Marketing