We live in a digitally-charged world, where content sharing has become a norm. The emergence of new technologies like smartphones and web 2.0 made this possible, providing every individual with access to digital content seamlessly. So how does video fit into this equation? Apart from it being entertaining, videos are useful and informative in communicating a brand’s value propositions.
To show you a glimpse of its significance, a survey from Brightcove’s 2018 Video Marketing Survey found that 53% out of 4,446 adults engage with a brand after viewing one of their videos on social media. Furthermore, it is also reported that 76% of the consumers purchase a product or service after viewing a video. Encompassing video as a marketing tactic is becoming more and more relevant for both consumers and marketers alike. Research also highlights that incorporating videos on landing pages is capable of increasing conversion rate by over 80%. Finally, from the viewpoint of email marketing, by including the word “Video” in an email subject line is able to drive open rate by 19%, which is significant in value for increasing the odds in driving conversions. With such favourable statistics, what makes video such an engaging medium?
Types of Video Content
Figure 1: The State of Video Marketing 2018 (Demand Metric 2018)
Video content can be implemented across a variety of channels such as websites, social media, email marketing, Youtube and campaign landing pages. A Benchmark Study Report by Demand Metric show some examples of the type of video content in the market (Figure 1). Evidently, webinars are gaining traction as a form of thought leadership that accentuate brand credibility. The usage of video should not be an impulsive guessing game, but should be viewed as a tactical medium with relevant metrics attached to drive more value and performance. An extensive inbound strategy optimises the value of video marketing by taking a buyer’s journey into consideration.
Role of Inbound Strategy Using Video Marketing
Figure 2: Inbound Marketing Strategy (Hubspot 2019)
In the context of an inbound strategy proposed by Hubspot 2019 The Ultimate Guide to Video Marketing, buyers will go through the following stages which are Attract, Convert, Close and Delight (Figure 2). The goal is to convert strangers to visitors, visitors to leads, leads to customers and finally from customers to advocates of your business. Below is a brief example by Hubspot in executing an inbound strategy by leveraging video as the main hook in capturing viewers attention.
At this stage, it is important to capture your audience’s attention and lead them to your website by providing valuable information that helps to solve their problems. Video is effective as a medium because it is easier to digest, entertaining and engaging, it takes less effort to process the information. Develop an in-depth thought leadership video that discusses topics related to your industry in solving a specific problem and embed the video into your website. Create a short teaser video that will be published in social media with a strong call-to-action that leads the audience to your website to view the video.
At this stage, it is time to convert visitors into leads by highlighting a conversion touchpoint that can help capture a customer’s credentials like email address. This can be done by including a form beside your video with a headline informing viewers to leave their email address if they want to receive similar content in their inbox.
You have just converted your first lead! Now what? When visitors have intentionally left their email address, it is a good indicator that they want to hear from you again. Be proactive in nurturing the leads with more valuable video content regularly through email marketing initiatives while prompting them to become customers. Remember to include the word “video” in your campaigns to drive higher open rates.
Congratulations on scoring your first customer! But does the buyer’s journey ends here? Most definitely not. A pivotal component concluding the inbound strategy is to keep customers “delighted” and to prompt them to be brand amplifiers of their own.
This can be achieved by sending customers relevant and curated content tailored to their behaviour on an ongoing basis. Remember to continuously adapt and improvise on content to keep it fresh.
Setting Clear Objectives
At this point, you have developed a well-rounded inbound strategy with the right type of video content in the right channels. However, you are not quite done yet. Defining the video marketing goals and metrics is the turning point that will make or break your entire campaign, it is the cream of the crop that should not be overlooked or undermined. Before launching the campaign, it is advised to determine your primary video goal. When developing your goals, be sure that it aligns with your audience persona, a fundamental framework to benchmark on is to conduct Segmentation, Targeting and Positioning (STP) analysis which will help identify your audience even better.
When it comes to understanding the true value of your video, metrics are popular indicators to help measure the performance of your set goals. Apart from view count, there are many other metrics you can analyse to observe the behaviour of the video and the impact it has on your goals. Below are some examples that will help get you started.
Table 1: Metrics for analysing video performance
Video marketing can be a powerful instrument in getting the results you desire when used strategically. Defining your audiences, setting clear goals and curating video content that is tailored to your targeted audience are crucial in achieving your business goal. Apart from time and effort, the inbound strategy also requires consistency and agility in adapting to your audience behaviour by observing the abovementioned key metrics.
- Advantage, B., Partner, B., Stories, C., Cloud, V., Suite, V., Suite, E., Experiences, O., Broadcasters, P., Webinars, 2., University, B., Index, V., Us, A. and Us, C. (2019). New Research from Brightcove Finds Video Content Impacts Product and Service Purchases, Particularly by Millennial Consumers | Brightcove. [online] Brightcove. Available at: https://www.brightcove.com/en/company/press/new-research-brightcove-finds-video-content-impacts-product-and-service-purchases-particularly- [Accessed 18 Dec. 2019].
- Conley, A. (2019). The Ultimate Guide to Video Marketing. [online] Blog.hubspot.com. Available at: https://blog.hubspot.com/marketing/video-marketing [Accessed 18 Dec. 2019].
- Plus, G. (2019). The State of Video Marketing Benchmark Report | Demand Metric. [online] Demandmetric.com. Available at: https://www.demandmetric.com/content/state-video-marketing-benchmark-report-0 [Accessed 18 Dec. 2019].