Video marketing—that’s just for professional marketers, right? Wrong! Although video marketing can be intimidating for some small business owners, who may think that they don’t have the know-how to create viral content, it is a very approachable and powerful marketing strategy for entrepreneurs of all backgrounds.
Below, we’re diving into what you need to know about video marketing, from why every small business owner should try their hand at video to strategies for creating fantastic content. Read on for a quick lesson, and then create your own short video for a chance to win $1,000 in Community Futures’ Just Watch ME! video contest!
Video Marketing For Entrepreneurs: Must-Know Statistics
If you’re going to invest significant time and funds into video marketing, you probably want to know what kind of payoff to expect. Good news! Video marketing has among the highest return on investment (ROI) rates of all marketing strategies.
In a survey conducted by Demand Metric, more than 70% of marketers claimed that their video marketing efforts provided greater return than any other marketing avenue, and 71% of those surveyed reported that their conversion rates for marketing videos has stayed consistent or increased over the past year. Here are a few more stunning statistics that speak to the power of video marketing:
- Viewers are 64-85% more likely to purchase a product after seeing a video about it
- Experts predict that video will make up more than 80% of all online traffic by 2020
- Consumers remember 95% of what they view in a video compared to just 10% of what they read
- You are 53 times more likely to land on the first page of Google’s search engine results if you embed a video onto your company’s website
- Small businesses who leverage video marketing experience nearly 30% higher click-through rates (CTR) and 34% greater website conversion rates than those who don’t
It’s clear that video marketing spells huge potential for your business. Branding your company in a crowded marketplace, building trust with potential customers, eventually prompting them to buy… this marketing strategy can do it all.
4 Types of Videos That Can Showcase Your Small Business
Now that you understand the power of video marketing, you may be wondering: what kind of content should your small business produce? Though it really depends on your market, business, and consumer, in general these four videos result in the greatest payoff:
- Explainers: informational videos that help viewers to understand your small business’ product, service, or concept
- Product Features: in-depth demonstrations of how your product works, its benefits, etc.
- How-To: educational features that focus on teaching viewers to accomplish a task or address a problem
- Customer Testimonials: words from your customers or clients about their experience with your small business
The success of each type of video depends on a variety of factors, such as where it is hosted/shared (on social media versus a landing page on your website, for instance) and the length and quality of video. Overall, though, explainers tend to perform best—not surprising considering that viewers often turn to videos in order to quickly learn more about a topic or service that interests them.
How to Create Sticky Videos That Your Audience Will Love
No matter what type(s) of video you decide to utilize for your small business, there are a few rules for success: say what you need to say and nothing more, and always deliver value. At the end of the day, the small business owners who succeed with video marketing are the ones who provide the best experience, whether that means entertainment or information.
Too many small business owners focus on selling their product, service, or brand via video, which can alienate audiences who don’t see the value of watching. Be sure to start with the viewer in mind. What would they want to learn? What challenge or problem could you help them resolve?
Additionally, there are a few other things to keep in mind when creating videos for your small business.
- More than half of all videos published in the past 12 months are under 2 minutes long
- Videos that are less than 90 seconds long retain 53% of viewers
- The most popular time frame for video viewership is on Wednesdays from 7 AM to 11 AM PST
- Most business-related video viewership occurs on desktop browsers
- Although outsourcing video production can be pricey (several thousand dollars for a one-minute video), it can be worth the investment. Be sure to assess your resources, determine whether you can make do on your own or with an in-house team, and reach out to outside resources if necessary!
- Don’t forget that simply producing great videos isn’t enough—you also need to create a distribution plan to reach viewers
Businesses and Entrepreneurs That Are Using Video To Succeed
Thousands of small businesses are using video marketing to succeed every day, but a few particularly good examples are the past winners of Community Futures’ Just Watch ME! video contest!
The Just Watch ME! video contest is an annual event designed to encourage entrepreneurship among persons with disabilities or health conditions in rural Saskatchewan and rural Manitoba. Participants need only to submit a brief 2- to 3-minute video about their small business to earn a chance to win a $1,000 grand prize or a prize package!
2017’s grand prize winner, Lucy Fouasse of Lil’ Steps Miniatures & Wellness Farm in St. Malo, Manitoba, created a video about the animal assisted counselling and equine facilitated wellness services on her farm.Click here to view Lucy’s winning video and learn more about how she utilized video marketing to receive $1,000 in support of her small business!
As both Apryl and Lucy demonstrate, entrepreneurship can be a great choice for people with disabilities or chronic health conditions. It can not only make you more confident and teach you a valuable skill set, but it also gives you control over your schedule, working environment, and lifestyle.
That is why Kimberly Wylie, 2017’s Just Watch ME! second place winner in the Seasoned Category (businesses open for longer than 1 year), says that “people with disabilities or mental illnesses should choose a talent or job that they are good at, then create an environment that can accommodate their disability or illness.”
She took advantage of Community Future’s ELEVATE program—a program designed to assist youth or adults with disabilities or health conditions start businesses in rural, remote, or northern communities in Alberta, Saskatchewan, or Manitoba—to build True U Tattoo & Creationz Inc., which provides customized tattoos for individuals and logo design for businesses. Afterward, Kimberly utilized the power of video to win a business package for her company through the Just Watch ME! video contest!
Since opening her company and participating in Just Watch ME!, Kimberly has been so successful as an entrepreneur, tattoo artist, and graphic designer that now she helps other aspiring entrepreneurs, including those with disabilities and chronic health conditions, turn their dreams into reality as well.
In fact, she was a speaker at the Power of Video event held in Saskatoon, where she shared advice for budding small business owners and explained how video can help entrepreneurs pursue their passions.
Take it from Kimberly and Lucy — make the first step toward your entrepreneurial dreams can with video!
Submit your short video to the Just Watch ME! video contest and earn a chance to win $1,000 for your company!