Why Use Strategic Video Marketing?
If you’re using videos to market your product or service, my goal in this blog is to convince you of the undeniable value of having a video marketing strategy.
I spent over two decades consulting and advising some of the most successful Fortune 500 and global companies throughout the United States, Canada and Europe. My sole purpose was to understand their overall business and marketing strategy as it related to information technology.
It was an eye-opening experience!
It made no difference how big a company was, I can assure you THE NUMBER ONE MOST IMPORTANT DISCIPLINE for every organization, was the development and maintenance of a well-documented strategy and plan. The second most important practice was executing on them.
It was shocking to see the impact on the corporate culture, public perception, and the overall profitability of companies who had a well-crafted strategy and plan and those who didn’t.
Let’s start by taking a look at what’s happening in the marketplace:
I spent over two decades consulting and advising some of the most successful Fortune 500 and global companies throughout the United States, Canada and Europe. My sole purpose was to understand their overall business and marketing strategy as it related to information technology.
It was an eye-opening experience!
It made no difference how big a company was, I can assure you THE NUMBER ONE MOST IMPORTANT DISCIPLINE for every organization, was the development and maintenance of a well-documented strategy and plan. The second most important practice was executing on them.
It was shocking to see the impact on the corporate culture, public perception, and the overall profitability of companies who had a well-crafted strategy and plan and those who didn’t.
Let’s start by taking a look at what’s happening in the marketplace:
- 72% of customers would rather learn about a product or service by video.
- 92% of users watching video on mobile will share it with others.
- 86% of businesses use video as a marketing tool4 — up from 63% over 2020.
- By 2022, online videos will make up more than 82% of all consumer internet traffic — 15 times higher than it was in 2017.
- Viewers claim they retain 95% of a message when obtained via video.
- 69% of marketers who didn’t use video in 2020 said they expected to start using video in 2021.
When asked if video marketing gave a positive return on investment in 2021?
I know, these are alarming statistics. If you’re interested in more information, I recommend downloading this free report from https://www.wyzowl.com/state-of-video-marketing-2021-report/. This material is compulsory for anyone attempting to use video to market their product or service.
Making videos without understanding their value,
what they can, and how to use them, is futile and unproductive.
So, what is strategic video marking?
Strategic video marketing is a robust approach to video content creation designed to attract, retain, and
convert a targeted audience.
~ Ed Squire
convert a targeted audience.
~ Ed Squire
Many people I speak to who are unfamiliar with creating strategies and plans for their business are a little overwhelmed. But remember, having a strategy is meant to be structured so that your creative ideas and tasks are less overwhelming and more like key ingredients of a thoughtfully made plan.
Sounds like a recipe, doesn’t it?
Experiencing the taste and texture of a wonderfully baked double-layered chocolate cake comes from a thoughtfully made plan or recipe. But if you’ve never documented the steps to make a cake or follow the steps to make one it can be just as overwhelming as a video marketing plan.
So, what are the basic ingredients of a video marketing strategy?
In my course, I teach students how to achieve Total Strategic Video Marketing Control over their businesses. One of the fundamental steps is understanding the core of creating a video marketing funnel strategy. A marketing funnel is a common term used in sales and marketing aligned with a business’s needs. Below is a diagram of a marketing funnel designed for videos as the chosen medium.
FOUR KEY COMPONENTS:
AWARENESS, CONSIDERATION, CONVERSION, AND LOYALTY.
AWARENESS, CONSIDERATION, CONVERSION, AND LOYALTY.
Awareness: Showing people who you are
Key Metric: Views
Your prospects have a problem, and you have a solution, but you need to find each other. Your job is to find a way to show up where they like to hang out online or where they're looking for information.
Consideration: Helping to solve a problem
Key Metric: Time Watched
Your prospects know the problem they want to solve, and they're looking online for solutions. If you provide them with helpful information and expertise about your industry, you can help them make better decisions. And bonus, you become a trusted source for them.
Conversion: Convincing people of potential
Key Metric: Sales, sign-ups, etc.
The conversion stage happens when your prospect chooses you and your product or service to help them solve their problem. They've grown knowledgeable about your offerings, and now they're ready to move forward. Your well-crafted videos can convert quickly with compelling content from your strategy.
Loyalty: Help customers succeed and keep them as repeat customers
Key Metric: Customer retention
After you convert your customers with your amazing video content, it doesn't stop there. In the loyalty stage, they might lose interest or stop using your product or service as much as they used to. It's essential to have a plan to re-engage by communicating how you can continue to solve more problems for them and to provide lasting value.
Key Metric: Views
Your prospects have a problem, and you have a solution, but you need to find each other. Your job is to find a way to show up where they like to hang out online or where they're looking for information.
Consideration: Helping to solve a problem
Key Metric: Time Watched
Your prospects know the problem they want to solve, and they're looking online for solutions. If you provide them with helpful information and expertise about your industry, you can help them make better decisions. And bonus, you become a trusted source for them.
Conversion: Convincing people of potential
Key Metric: Sales, sign-ups, etc.
The conversion stage happens when your prospect chooses you and your product or service to help them solve their problem. They've grown knowledgeable about your offerings, and now they're ready to move forward. Your well-crafted videos can convert quickly with compelling content from your strategy.
Loyalty: Help customers succeed and keep them as repeat customers
Key Metric: Customer retention
After you convert your customers with your amazing video content, it doesn't stop there. In the loyalty stage, they might lose interest or stop using your product or service as much as they used to. It's essential to have a plan to re-engage by communicating how you can continue to solve more problems for them and to provide lasting value.
Why is strategic video marketing mandatory?
The same rules apply to baking a cake and using video to grow your business.
We’ve all heard it before.
Failing to plan, is planning to fail.
The same rules apply to baking a cake and using video to grow your business.
We’ve all heard it before.
Failing to plan, is planning to fail.
The video marketing funnel is only the foundation and there’s much more complexity than I’ve shared in this short blog. Yes, just like a cake. You need more than just sugar, butter, eggs, and flour.
CONCLUSION
Most online entrepreneurs understand the challenges when it comes to creating videos for their businesses. And creating videos is only half the battle. Having a marketing strategy is just as important, and in my experience, it’s even more critical.
Today I’m running into more and more business owners who are making their videos in-house. However, many are frustrated with the lack of results they’re getting when they know how powerful this medium can be.
Over the past few years, countless friends, colleagues, and referrals have asked me to make videos for them. Since I’m not a high-cost social media marketing agency or a low-cost freelancer, I’ve been happy to make good quality videos for a reasonable price. However, I began to wonder…
“How can I help people make videos and marketing strategies without feeling like they need to become a professional videographer and social media strategist?”
So, I created a program where I teach online entrepreneurs how to make videos that dominate their market and convert high-value leads into cash and loyal communities.
If you want to learn more and you’re serious about your business, you’re welcome to schedule a FREE 50-minute strategy session with me.
I would love to talk with you.