The global rise of TikTok has hammered home just how much we love videos. In fact, the average person now spends 17 hours a week watching such content, whether it’s TikTok itself, YouTube, a new Netflix series, or a blockbuster movie.
Brands have been quick to jump on the bandwagon and use videos to their advantage. Research shows that 71% of B2B marketers alone now rely on video marketing, and worldwide video ad spending reached a mammoth $37.4 (£30.19) billion in 2021. This is a figure that’s expected to increase to $45.5 (£36.72) billion by 2025.
But what benefits exactly can brands gain from this type of marketing?
1. Greater audience reach through mobile
While the likes of Coca-Cola and McDonald’s can afford to burn billions of pounds a year plastering their products across billboards, TV adverts, flyers and more, most brands don’t have this luxury. However, with the majority of consumers glued to their mobiles these days, it’s easier than ever for businesses to ensure the world sees their products or services — and at a fraction of the cost of traditional methods. And when it comes to mobile marketing, videos are a godsend.
90% of consumers now watch videos on their mobile phones, particularly with the rise of apps like TikTok in recent times. Think of how many times you’ve been scrolling through TikTok or Instagram and you’ve been shown a video ad. These promotions are perfect for the platforms in question considering they fit in seamlessly with the existing content. As such, videos make for an ideal marketing method on these mediums.
2. Easier mediums to convey information
Humans are naturally wired to enjoy watching and listening to things, something that makes videos an incredibly powerful marketing tool. As video marketing agency Pitch puts it: “Videos can get to the crux of the matter in almost no time at all, landing key brand messages and grabbing the attention of the consumer. This overall makes for incredibly effective marketing content that drives passion for your brand.”
Studies have shown that viewers retain 95% of a message when they watch it in a video, in comparison to only 10% when reading it in text. Consequently, video can often be a more effective marketing approach than text-based methods like email marketing, print advertising, and pay-per-click (PPC) advertising.
3. More opportunity to demonstrate brand personality
In the digital era, customers have continuous access to a brand’s activities and communication, enabling unprecedented interaction opportunities. Because of this, consumers now place greater importance on a brand’s personality than before. Examples range from Nike’s excited, energetic personality, to Starbucks’s sophisticated style. Statistics show that 57% of consumers purchase brands with strong identities, while 55% stop following companies due to their online communication style.
So, how can businesses convey their identity effectively? Video content is an incredibly potent tool for achieving this goal. From behind-the-scenes videos showcasing a brand’s workspace and team, or the visual representation of the brand through elements like music, graphics, and colours, there are numerous ways video marketing can be harnessed to show off a brand’s personality.