Attracting more than 1 billion unique global viewers spending a collective 6 billion hours watching videos,YouTube is the second largest search engine.
According to comScore, 45 percent of Internet users are watching at least one online video per month, and it is expected that by 2016, almost 55 percent of consumer online traffic will be made up of online video.
People are watching, so it makes perfect sense to create an online video for your small business. The affordability of corporate videos and their proven effectiveness in growing a business are only a couple of the many reasons why your small business needs one. Here are the top five reasons your small business needs a corporate video:
Drives Leads to Your Site
Google's new algorithm measures the time that visitors spend on your site and uses that measurement to assign search rankings. Having a corporate video on your site that is interesting and informative will almost certainly keep visitors on your site long enough to watch the video (almost two full minutes more than a site with text and images only), which can increase your ranking.
And if your video goes "viral," like Dove or Old Spice, your company and product could see overnight popularity and growth. Just make sure your video is mobile-friendly and doesn't require Flash.
Here is the Old Spice web video that went viral and skyrocketed Old Spice's popularity:
Opportunity to Define Your Product
A corporate video is a great way to define your product, its uses, and its importance. If a picture is worth a thousand words, video is worth 1.8 million. Video can take the guesswork out of trying to figure out a product or service, since there are so many interpretations to what is read.
You can use video to explain and demonstrate your product or service in a way that can be easily understood and remembered. It's a good idea to use a professional video production company to produce your video so that you can get the best results possible.
Energize Your Pitch
Brochures and pamphlets with tables, graphs, charts, and blocks of text can be confusing and tedious. Elevator pitches are like elevator music... boring!
And since the average person retains only about 10 percent of what they hear, but 50 percent of what they see, a well-produced corporate video can add energy to your pitch and capture your audience's attention almost immediately. The hope is that if people like your video, they'll share it on social media and increase awareness of your product.
Related Article: Play It Right: Keys to a Successful Online Video Launch
Increase Conversion Rates
According to a recent survey, people are 85 percent more likely to purchase a product after watching a video that explains that particular product. By having a video on your landing page, you can actually track how many views your video gets and then how many customers purchase that particular product.
Using web analytics and having a structured approach to conversion are key. In a study by Econsultancy, it was found that 70 percent of companies that had a structured approach to conversion had improved sales. In fact, 24 percent of companies that had a structured approach to conversion saw dramatic increases in sales, whereas only 14 percent of companies without a structured approach saw an increase.
A Chance to Get Personal
A business gains repeat customers by showing its personal side, by putting a face to the name. A corporate video is a good opportunity to show customers exactly what your company is and what it stands for.
This is especially true for online businesses because the customer has little real contact with the company, if any. A video is a great way for the customer to see who is behind the product and to form a virtual relationship of trust.