1.8 Million Words
1.8 Million Words
That’s the value of one minute of video, according to Dr. James McQuivey of Forrester Research.
That’s the equivalent of 3,600 typical web pages. If you write an average of one web page an hour, it would take you 150 days of writing to achieve the impact of one minute of video.
When you look at it that way, online videos are the single most practical use for your marketing efforts.
Meyler Capital was recently at the Opal Exchange 2015 in the Swissotel Chicago where we offered “profile” video shootings. And it’s not just about having a profile video, but what you do with it. If you’re still not convinced that it’s high time to get on board with video, here are other statistics that will make you re-think your strategy.
The number of online video viewers that are expected to be by next year (source). Sure, many of these people are watching the latest viral video on YouTube, but an awful lot of them are looking for information to aid them in a decision-making process. And a whole lot of them will find video as a way to best learn about the product/service.
Let’s look at something as a whole. Percentages.
403%. According to a real estate firm, listings with videos received 403% more inquiries (source).
70%. Marketers across the board report that videos convert 70% better than other content formats (i.e. brochures, snail-mail, telemarketing, an advertisement on LinkedIn, etc.).
88%. The average user spends 88% more time on a website with a video. A lot of that has to do with the actual watching of the video. But that’s what exactly keeps them on the site and keeps them compelled to learning more about your competitive advantage.
59%. The % of senior executives who prefer video over text. Your target audience, perhaps?
34%. Bounce rates for video blogs 34% lower than the rest of the site on average. A blog with a video has a 34% better chance for people to get all the way to the end of it.
It’s not that hard.
1. Videos that are 3-minutes and under. You might think, “that seems short?”. But that’s all you need for an audience that is busy, moving fast, and hard to captivate. Studies show that the majority of viewers tune out if a video exceeds 2-3 minutes anyway.
2. Answers and tips. Don’t have a grandiose storyline for a video? That’s fine – build a script around frequently asked questions. Most prospects who visit a website and click on a video are looking for answers online.
3. Clear takeaways and calls to action. At the end of the video, give your prospect a clear next-step and pathway to learn more about the service if interested.
And of course, you’ll be profiling interest and will be in a better position to talk to people who are actually interested in speaking with you.
Move beyond one-dimensional marketing. Create original videos to captivate your target audience. No one can describe your investment thesis better than you can. Don’t miss the boat with video, or you’ll find yourself swimming behind it as it gets goes further away in the distance. Alone.
By Alan Chu