The use of video in a marketing strategy is an incredibly effective and valuable tool.
The rapid proliferation of personal technology allows modern consumers to have instant access to a variety of entertaining, informational, and educational materials. Through a network of connected platforms, consumers can easily access games, videos, audio files, social networking sites, and much more. From a business perspective, video is the future of marketing.
Cisco, a worldwide leader in networking, predicts in its 2011-2016 Visual Networking Index that 55 percent of internet traffic will consist of video media. In the United States, comScore, an industry leader in digital analytics, reports in its 2012 U.S. Online Video Rankings that 85 percent of the U.S. internet audience watched online videos. Even more interesting, in December 2012, the Interactive Advertising Bureau reported in Mobile Phone Video Diaries that 92 percent of mobile phone consumers shared mobile videos, that they had watched on their phones, with others in their social circle. For businesses, the trend is painstakingly clear. Companies that are willing and capable of operating within this modern technology framework are going to get ahead of those that cannot, and the most successful companies are the ones producing media that can be viewed through multiple platforms such as television, internet, and mobile phones.
Video media can be used to meet several consumer demands. Videos can be used to provide information, educate consumers, and entertain. From the business side, these same videos can also serve additional purposes: becoming marketing material, building brand recognition, carrying a specific message, inspiring customer loyalty, and promoting a positive image of the company.
The types of messages carried through videos can also vary greatly within the same company. From consumer tutorials and product releases to “feel good” stories and informative pieces, each video can tell a different piece of the company’s story, and each video can easily market to a specific target audience. Additionally, each video can be used across a variety of compatible platforms to maximize the company’s exposure. Successful and effective videos do not need to be lengthy high budget projects. A clever and well-produced video less than one minute long will do the trick.
Expand your Consumer Base through Video
Carefully crafted videos have the potential to be more powerful than any other form of marketing materials. By incorporating visuals with audio, the video can assist viewers in understanding the true value of a company or product and may also help a company expand its consumer base to previously untouched demographics.
Consider, for example, a company with a strong white female base is trying to expand its market to include ethnic female minorities. As part of its value proposition strategy, the company decides to produce several short commercial videos that are uploaded to their website. The videos may also be a part of an overall marketing strategy that includes print advertisements in specific publications. Each video represents and conveys a different value set, and each video is sharable on the various social media platforms. Additionally, the video may be viewed on various technology platforms such as internet, television, and mobile phones. With enough buzz and creativity, the videos are then shared throughout social networks, and a viral hit is born. This is a major marketing strategy that has explosively proliferated with the development of modern technology. With the exception of television advertising costs, these videos can be created with minimal costs and allow optimal room for experimentation. Most importantly, the videos can be viewed anytime and anywhere.
According to “Ethnic Marketing: McDonald’s is Lovin’ It” in the July 2010 Bloomberg Businessweek Magazine, this strategy is similar to McDonald’s advertising strategy as the company adjusted to the demographic shifts that were taking place in Texas and California. The company introduced greater diversity to its National Advertising Committee and revamped their general marketing plan to be more inclusive of rising minority groups in their video advertisements. The video advertisements were a hit, and the company was applauded through multiple forums for its efforts. In the end, the company noticed that its general marketing strategy was more successful when its videos featured ethnically diverse casts. It now incorporates this diversity and inclusiveness as part of its overall marketing strategy.
Anytime Anywhere: Video across Platforms
Another element of a successful video marketing strategy is making the videos as accessible to consumers as possible. This includes removing sharing restrictions and enabling social networking features. The idea is to allow modern consumers to have easy access to the video and share it with their social networks at anytime and anywhere. Currently, there are three major venues that host a variety of platforms that can be used to share videos: internet, television, and mobile phones.
When producing videos for internet use, the videos should be distributed through a variety of forums and easily shared by viewers. The company’s commercials and videos can also be uploaded to the company’s mobile phone application.
On a slightly different note, videos for television use will need a little more attention. While videos made for distribution on the internet and mobile application videos may be more casual, time sensitive, and innovative, videos made for television distribution have to meet time, budget, and censorship requirements. These videos most likely will need more editing and, due to costs, will probably need to carry a more general message.
The bottom line is that video media is the present, and certainly the future, of marketing and advertising. Short, simple, and clever videos can pack a unique punch that helps to build brand recognition, convey a message, inspire customer loyalty, and promote a positive image of the company. With relatively little investment and incredible cross-platform capabilities, companies that are unwilling to embrace this technology trend are truly missing out on incredible capitalization opportunities.
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