Video Marketing - A tool for every Business

When you’re part of a growing business, developing a content strategy that helps you build a connection with your target audience is crucial. With video marketing proving to be more effective than ever, many businesses are pushing out video content at varying levels of quality almost daily that helps to make sales, increase brand awareness, and educate the audience about a product or service.

Whether you are creating low-effort social media content in-house, or outsourcing to an agency that specializes in top-tier video production, there is always a way for video marketing to give your team the advantage they need. Since starting EOTL Productions, we’ve had time to learn about all of these advantages and how videos can be an essential tool for any business striving for success. But don’t just take our word for it, we found that each of our findings were regularly supported by other marketing media companies.

In 2023, 91% of marketers used video as an important part of their strategy (Wyzowl), and while video marketing has mostly been done by larger companies in the past, the rapid rise in popularity amongst social media platforms has made it that much easier for small businesses to create and post high-quality marketing content at an affordable cost. In fact, the same report showed that 30% of marketers who used video for the first time in 2023 said they were able to do so because it became more affordable. This is partly due to the massive technological leaps in consumer-grade video recording technology, where the average business now has the budget to support contracting a videographer who uses the same equipment found on the sets of Hollywood films, like Gareth Edwards’ The Creator, which was shot on a Sony FX3 (this just so happens to be the same camera we use). You can check out Edwards’ thoughts here.

When video marketing is becoming an increasingly useful and cost-efficient tool, there is every reason to take the leap and see how implementing a video marketing strategy can help your business grow and reach its intended audience.

But how does video marketing compare with more traditional forms of marketing?

Video content stands out because of its increased engagement and visual appeal. Over 70% of consumers prefer video content when learning about a product or service (Wyzowl). This is compared to 11% for text-based articles, 4% for infographics, and a collective 6% for ebooks, webinars, and product/sales demos. The proof is in the pudding, and with the mass majority consuming most of their content through videos, it’s no wonder why so many businesses are diving into the opportunity.

As video becomes a more accessible and effective marketing medium, businesses continue to be drawn towards its popularity. The Wyzowl study showed that 41% of marketers who used video marketing for the first time in 2022 did so because it became significantly easier to have videos created, and 22% of marketers decided to implement video strategies because the ROI has become easier to track. These constraints once made video marketing efforts very daunting or even impossible for some smaller businesses. But now, with the increased variety of inexpensive marketing channels and the rise in affordable video production services, high-quality video advertisements are well within reach.

So what about the marketers who don’t use video? Why are they late to the party?

When it comes down to it, 30% of marketers in 2023 lacked the time to create engaging video content for their business, and the rest of them either don’t know where to start, can’t influence key decision-makers to invest, or simply don’t see the need for video marketing. But, the good news is that 70% of non-video marketers from 2023 plan on implementing a video marketing strategy in 2024. Businesses use video content more now than at any other point in the last nine years, and as it stands, around 9 out of 10 businesses trust video as a widely used marketing tool.

That’s why it is important to work with a reliable and professional video production company to help you build a video marketing strategy that matches your ambition and creativity while remaining cost-effective. With more businesses pushing the envelope every year, 2024 is the time to be bold and stand out with a one-of-a-kind video for a first-of-its-kind idea.

If you’re interested in learning more about how video marketing can fit into your marketing strategy, feel free to shoot us a message.