It wasn’t all that long ago that we were talking about how mobile was growing and the impact it would have in changing the marketing landscape. Been there, done that. So what’s the next thing that will revolutionize the marketplace? There’s a good chance it is video.
Video already makes up 64 percent of all internet traffic, according to Cisco’s 2014 Visual Networking Index, and it’s forecast to grow to 80 percent of all traffic by 2019. The popularity of video has spread to advertising and marketing, as well, with eMarketer estimating that $7.77 billion will be spent on online video advertising in 2015.
Spend on video advertising is expected to almost double in the next four years, to $14.38 billion, with mobile growing at an average rate of 65 percent each year. Even the much-maligned desktop will experience growth in video advertising at an average rate of 11.5 percent per year.
This growth extends across all sizes of advertisers. The Local Search Association (LSA) just released a white paper titled Online Video’s Next Frontier – Local, and our research shows that SMBs’ use of online video in marketing has doubled in the last year alone.
While only seven percent of small local businesses with annual marketing budgets of less than $10,000 used video last year, 12 percent use it this year, an increase of 71 percent.
For those SMBs with marketing budgets of more than $10,000, 37 percent use video this year, an increase of 131 percent over last year.
The reason for such rapid growth in video advertising is its effectiveness. If a picture is worth a thousand words, a video is worth much more. Forrester estimates that one minute of video equates to 1.8 million words of text in the message communicated.
The effectiveness of video is more than just volume. Even with that much information crammed into one message, consumers remember videos. The Online Publishers Association states that 80 percent of users recall watching a video ad in the past month, with a whopping 46 percent of those taking some follow-up action, such as looking for more information or visiting the advertiser’s website.
LSA’s white paper cites similar numbers. LSA surveyed 2,000 consumers and found that 44 percent of buyers viewed an online video while searching for local products and services. Fifty-three percent of viewers contacted the business after watching a video, 51 percent visited the business website, and 33 percent visited the store. Seventy-one percent of viewers ended up making a purchase.
Performance numbers like these explain the high satisfaction rates SMBs have with online video. LSA’s white paper reports that 70 percent of local businesses were satisfied with the performance of their online video marketing, suggesting this is an area where marketers can boost their reputation with clients.
There remain some obstacles to using video, especially for small businesses. LSA’s white paper reports that 47 percent of respondents cited lack of budget as an obstacle, and 45 percent said they lacked in-house expertise to create compelling content.
Yet technology is making video ever more accessible, and there are ways to simplify video production to overcome those obstacles. Jon Barocas, CEO of bieMEDIA, a provider of online video marketing content, states, “The price of online video production is dropping dramatically due to the technology required to shoot, edit and distribute online video.”
Perhaps the most successful example of low-cost video is Dollar Shave Club’s promotion that went viral. The video cost $4,500 and generated 12,000 orders within 48 hours. That was three years ago; today, the video has almost 20 million views.
While that may be an anomaly, it certainly demonstrates that you don’t need a six-figure budget to create a compelling video. Here are several ways local businesses can keep video production simple and inexpensive:
Use simpler video formats. Videos don’t have to be movies with actors and special effects.
Keep videos short. A study released this year from Microsoft revealed that people have shorter attention spans than goldfish: eight seconds. Yet it is surprising how much information can be communicated in a short time via video. Check out this six-second Vine video from Lowes:
Cut the script. Since video communicates so much on its own visually, sometimes you don’t even need a script for it. Check out this video from Brazilian restaurant and bar 512 Espaco Cultural.
Bundle services. Including video with other bundled services such as websites, landing pages and enhanced listings can help keep costs down.
Even the best video is useless unless it can be found. Here are some tips about how to use video to improve SEO and get your website and your video found.
Video will only continue to grow in popularity and accessibility. Consumers like video, use video and remember video. Those are all great components for a successful marketing strategy.
It’s also becoming much more affordable and accessible for local businesses. Make sure to use video both for the marketing power it brings and for its increasing importance to your site’s SEO.
The post The Rise of Video: 8 Tips to Boost Your Site’s SEO With Video appeared first on Search Engine Land.