Why should businesses invest in video production?
The art of storytelling has transformed over a period of time. Corporate world too has aligned themselves to this change. As per a study worldwide, video consumption has crossed 1 hour per day in 2018. Video consumption is estimated to account for almost 80% of traffic over the internet and add to it the Billions of views that Facebook and YouTube are generating, video content becomes a huge arsenal in the hands of businesses. As per another study, video on the landing page increases conversion rate by 80% and 64% users are more likely to buy a product online. Let’s understand how a corporate video can help you and why should businesses invest in video production?
Video consumption is exploding:
Today, a majority of the corporate video content is hosted online, published on the company’s official webpage and shared across social media platforms, or emailed to the stakeholders. Any form of video content created for any business houses, company, corporation, or organization, is referred to as a Corporate Video. A corporate video is used as an umbrella to define all sorts of video communications used for internal or external corporate messaging.
Nowadays, these videos have become an integral part of any company’s communication strategy. These could be employer branding videos, training and safety videos, promotional films, investor relationship, and shareholder videos, facility videos, market updates, new product development videos, executive proposal videos, and even customer testimonial videos. Today with high penetration of smartphones and better internet connectivity, these corporate videos reach out easily through social media uploads and in a way, helps in creating a company’s image among the public.
Statistics on video consumption and its impact:
- Video on landing pages increases conversion rate by 80%
- 90% of users say that product videos are helpful in the decision process
- Video in an email increases Click-through rates by 200-300%
- Video ad recall after one month of watching a video and is as high as 80%
- Over 8 billion videos or 100 million hours of videos are watched on Facebook every day
Importance and Benefits of Corporate Videos:
The Internet has changed the way corporations connected with their employees, vendors, clients, stakeholders, and customers. Corporate videos work best when they focus on a specific kind of pointed messaging instead of being lengthy or vague. They are especially beneficial to get the message across to a large group of audiences, on a budget and in less time. Motion graphics and background music make it an attractive proposition.
- Build a captivating story – interesting storyline always intrigues viewers’ attention; building a great script with the help of short clips, interviews, the daily life of an employee, and major CSR activities undertaken, can create an engaging video. Video production companies have their expertise to create such remarkable stories. Consumers don’t buy products; they buy stories associated with the products. Videos are the best-suited tool to deliver that story with high engagement.
- Enhanced SEO – video content always generates better search engine rating. To audiences, viewing is more entertaining than reading an all text report. It is also a known fact that videos have high recall as compared to texts. Viewers also enjoy videos which are nicely edited and presented.
- Engage in Social Media – the best part of the video is that it can be easily shared across social media platforms, and one can engage in various forms of conversation. Discussions, remarks, and comments made on these videos provide valuable feedback on how to improve a firm’s image further. The sheer magnitude of traffic received by social media can be tapped on by creating original and crisp corporate videos.
- Engage consumers, stakeholders, and employees alike- videos can help you improve engagement across all the segments of your markets right from consumers, stakeholders, and employees.
Is it worth investing in Corporate Video production?
Having video embedded in a website can significantly improve both the amount and quality of traffic to a website. Videos can also help to build engagement with the audiences as they tend to spend more time on the websites that feature a video. Great corporate videos can also convey a large amount of information in a relatively short period, making it perfect for explaining complex projects or products. While 96% of B2B firms are getting benefitted by plugging videos into their content marketing strategy, 44% find it challenging in measuring the ROI of their video marketing investment.
However, a well-crafted video can do wonders. It can entice customers and other stakeholders, and help build an image in their mind. A well-made video can be used to pitch for new client and business, by highlighting crucial information of a company’s products and services through an audio-visual story. In a relatively complex world, where everybody runs short of time, compelling corporate videos form the best way to convey the key message entertainingly and crisply.
Trends in Corporate Video Production
Today most of the internet traffic is driven by video related content, and this will further surge by 2020. As per Video Solution Benchmark Report, 2019 by IBM and Brandlive- video is helping 81% of companies meet or exceed their business objective, and hence this trend will continue in the coming years too. Some of the key trends that should be kept in mind are as follows:
- Live Video: the popularity of live streaming on social media channels such as Facebook, Instagram, Twitter has gained tremendous momentum. The live video encourages more audience engagement and retains viewers longer than any pre-recorded video. Live videos with Q&A sessions also helps in getting immense traction.
- Video Homepages: This trend of creating video homepages have intrigued the viewers. These are the best story-telling devices and have been used by most of the businesses to inform, engage, and persuade their potential customers. With high speed, internet connectivity accessing a video homepage is all attractive and adds the cool quotient to the business.
- Video Valets: This trend is catching up with the customer service industry. This enables a customer to interact with a company representative via webcam, face to face. By this way, dissatisfied and disgruntled customers can get their problems solved within a jiffy.
- Branded video content: This mode is fast gaining popularity across social media platforms. Viral contents are produced, which are co-branded by bigger business houses. The challenge, however, is to create a corporate video with audience appeal without it looking like a blatant advertisement.
- Shoppable video: A shoppable video is an interactive video which enables the user to visit landing pages of products/services when they click on products displayed while watching the video. Brands can display shoppable video the landing page of their website or via social media channels that can attract customers and direct them to their product pages.
Currently, many business firms, both big and small, have turned to video production as a useful marketing tool for building brand awareness. As a result, the video industry is booming. It has proven to be effective, when the parent site hosts its videos or uses YouTube, or having a video on the homepage to explain the business. Moreover, videos are easier to absorb than texts, and they bring in a human touch to your communication. A successful video not only helps the company to grow in leaps and bounds but in a way, aids the growth of videos market.