If you got caught up in the Facebook video gold rush a couple years ago, you might have actually been handed a chunk of pyrite.
Let us explain.
Facebook has been a hot topic lately with mention of inaccuracies in the video viewership metrics it provided to advertisers in 2015. In fact, they are facing a class action lawsuit. As a result of these suspect metrics, some advertisers and marketing professionals feel they were manipulated into redirecting marketing budgets to Facebook video, thinking that more people watched Facebook video than other video platforms. The information also led media organizations to redirect their focus towards video and away from other editorial formats.
Given these allegations, you might be wondering if spending money on video is a wise investment. And the answer is yes – if you look beyond the vanity metrics of video views.
Regardless of the platform, here are four reasons we recommend you invest in video:
Video impacts your bottom line
Adding a video on your landing page can increase conversions by 80 per cent. The meaningful metric here is not how many people watched the video, but how many followed through on the call to action associated with the video. If your organization relies heavily on word of mouth, you’ll also be happy to know 92 per cent of mobile video consumers share video content with others. That’s huge if you compare share rates of other types of media. Nothing else is even close.
Video provides ROI in many ways
Video may not be easy or cheap, but it pays off in many different ways. Aside from sales, 83 per cent of businesses believe video provides other returns on investment such as trust building in their community, reducing customer service inquiries, and appearing more knowledgeable or professional. As communicators, we also know the importance of creating emotionally persuasive content. Video accomplishes that by allowing your audience to experience your organizational brand and culture.
Visitors will spend extra time on your site if you have video content. When Google crawls your site and sees that people trust and have interest in your content, they’ll place you higher on searches. According to Moovly, you’re 53 times more likely show up first on Google if you have a video embedded on your website. Fun fact: Google owns YouTube, so if you put all your money and time into Facebook video, it may not produce the same result as it would if you publish on YouTube as well. Essentially, don’t put all your eggs in one basket.
Give the people what they want
According to new research published by Animoto in their 2018 State of Social Video Consumer and Marketer Trends report, video was ranked number one by consumers as the preferred form of branded social media content. Love it or hate it, Facebook is the top the platform consumers enjoy watching videos from brands on, followed by YouTube and Instagram (a Facebook-owned platform).
Even if Facebook video numbers aren’t as strong as we were initially told, that doesn’t mean you shouldn’t be using video. It means you need to have a diversified digital strategy that measures beyond vanity metrics and helps you achieve your true organizational objectives.
If you need help creating a long-term effective video strategy, we can help.