Let me be real frank, global video consumption is massive. According to this article from the Motley Fool, the online video advertising market will grow as much as $10 billion annually by 2016.
YouTube’s numbers alone are even more mindboggling. They have over 6 billion hours of video watched every month with 1 billion people visiting the site in that same period. July, 2014 even had 153 million unique U.S. viewers. That’s half the population!
Despite all of these impressive statistics, many marketers have yet to make the jump into video marketing. Why? Because of the most common, persistent misconceptions surrounding video.
Today, let’s set the record straight on the most common video marketing myths.
1. It’s Expensive
Incorporating video marketing into your regular content marketing doesn’t have to break the bank. As you probably already know, video production equipment and software aren’t much of a barrier anymore. Even the smallest business can purchase and use this equipment.
Creating high-quality video content, on the other hand, can require a bit more expertise.
The cost will depend on the type of video you’re looking to produce. Outsourced production can run anywhere from $2,500 to $10,000 per asset. But that’s also a lot cheaper than paying for a full time video producer/editor.
2. It’s Brand Awareness
Despite what you’ve been told, video is more than a brand-building tool (though it can be good for that too). There are many opportunities for you to directly generate leads, drive website traffic, and influence purchase decisions.
It can be used in every stage of the sales lifecycle.
Think about it. Video can be used as a way to fill your pipeline, drive specific actions with in-video CTAs, conversions offer specific landing pages and forms, and teaching prospects and leads about a product.
3. Views Don’t Equal Success
A view doesn’t just equal success. Views tell you about how many people played your video. What they don’t tell you is about viewer behavior during and after your video.
A 90-second video that sees the majority of viewers drop off after 10-seconds isn’t a successful video. Even if it has 20 million views, that’s still pretty dismal performance.
Instead, you need to look at video like any other channel. View counts are important, but you also have to be capable and willing to measure more quantifiable audience behavior. Measure things like attention span, click-through rate, subscription rate, and ROI.
4. YouTube Isn’t the Only Option
YouTube is a video marketing powerhouse, and you should definitely be using it to actually market your video content. But that doesn’t mean it’s the only video marketing tool you have.
YouTube has tons of distractions. It’s easy for a customer to move away from your video without a second thought. That can be a hindrance for ensuring people actually convert from your videos.
What you need is a place that focuses your audience. A magical land where people can learn more about your products and services and consume more of your content, without all the pesky distractions. Wait a moment . . . you do!
It’s your website!
Video can do more than just help you fill your pipeline and drive web traffic. Putting videos on your website can actually increase your conversions. I mean, in some cases, converting just a few more visitors could literally make your year a huge success.
Everyone knows that the in-video text-based CTAs that you see on YouTube aren’t great. They’re generic and straightforward, and they don’t always encourage the clicks and conversions you’re probably hoping to see. But they don’t have to be.
Video CTAs can still fit with your branding and look great in the videos themselves. Adding things like brand aligned font, coloring, and design within the video itself can go a long way towards professional-looking video.
6. It’s Passive
Not true. Look at this video. Play the video, and have a lot of fun pressing the “R” key over and over. I’ll wait right here.
Interactive videos present endless possibilities for video marketing.
There are a lot of myths and misconceptions surounding video marketing. While these 6 are only the most common, hopefully they have alleviated some of your apprehension about beginning video marketing for your company.