3 Reasons NOT Using Video Will Cost You
Updated: Nov 17, 2020
I know that it’s hard to allocate hard earned money to something if you don’t see the value in it. Well, consider this your wake-up call to the value of video for your business. Just because you don’t see the value yet, doesn’t mean you never will. In fact, educating ourselves on something that we may not know much about is the best thing we can do! So, in the interest of educating ourselves, here are 3 reasons why NOT having video will cost you money… 1. You won't have an engaging brand that attracts the current market. Let’s dive right in! Before you can experience success and growth you have to take a look at the facts of how people do business in 2020. 80% of millennials find video helpful during initial purchase research. 60% of millennials prefer to watch a company video than read a newsletter or email. Millennials are 150% more likely than Baby Boomers to comparison shop using video, even WHILE THEY’RE IN-STORE. And 76% of Millennials follow brands or companies on YouTube. I don’t know about you, but that sounds like a huge portion of your market that makes decisions, shops and does business via video. Seeing is believing. Without video, you miss the chance to be personally known by your marketplace, which is clearly what this generation wants based on the facts listed above. Video rehumanizes companies and it communicates a brand that clients want to work with. If you’re missing the video component, you’re missing opportunities and will ultimately lose out to your competition. 2. Your ads will underperform. Secondly, let’s take a look at what you already spend your money on: advertising without video. Running ads without video is proven to be far less effective. It was discovered in a recent study with almost 30 different marketers that ads with video resulted in double the engagement of an ad with just an image…did you read that right? Yes, that said DOUBLED. I don’t know about you but, if I’m using video, I like those numbers. One of the marketers in the study stated that “Even though images still drive traffic and clicks, providing video gives users more insight into who you are as a brand.” 3. Your website will lack retention and drop sales. Lastly, if you’re not using video - you’re missing out on your digital handshake and great first impression that video provides on the homepage of your website! You know the old saying, “First impressions are lasting impressions.” Also, once you have someone on your website you want to keep them there - the longer they are there the more likely they are to do business with you - and video will help do that for you. On average, people spend 2.6x more time on pages with video than without.
So, now that we know more about video than when we started reading this post, let’s ask ourselves some important questions here. Do you want your business to effectively communicate who you are as a brand? Do you want your business to be the first that your marketplace thinks of when they need your services? Then what are you waiting for?! Get started with video!