Video marketing is gaining momentum. According to an article published in eMarketer, Cowen and Company estimate video ad spend in the United States will hit $28.08bn dollars by 2020. To put that into perspective, businesses only spent $9.90bn on video ads last year.
The amount of video content consumed on a daily basis is also growing. Recent statistics show 55% of internet users watch online video everyday. A report published by Cisco predicts this figure will increase to 80% by 2019.
One of the principle reasons for the popularity of video is mobile phones. Video content is far easier to consume on a mobile device than any other form of content. Videos are also more engaging and can be accessed on multiple platforms. Even SMS.
Furthermore, reports indicate that video can lead to an increase in direct sales. According to studies, 74% of users who watched an explainer video confirmed the content influenced their purchasing decision.
The challenge marketers face however, is getting an ROI on video. If you use a video production professionals to film your promotional ads, the marketing budget quickly becomes stretched. If you’re creative, you can make your own for much less.
When you consider consumer behaviour in the online space, the effectiveness of video is hardly surprising. Vision is our dominant sense and the brain can recall images that tell a story they relate to easier than if they read the same story in a book.
Furthermore, people respond to marketing content they relate to. The 2017, Video in Business Benchmark Report published by Vidyard reveals personalized videos are viewed 35 per cent more frequently that non-personalized ads.
Together with video marketing, personalisation is the other game-changing strategy that is shaking up the marketing world. Given SMS is a prime device for personalised marketing, creating customised videos and sending them via an SMS messaging service has more potential to increase revenues.
When you consider how consumers access videos on mobile devices, SMS channels also makes more sense. Statistics reveal 62% of respondents find video content through YouTube, 42$ through social media, 20% from search and only 14% through advertising.
The issue with YouTube and other social media networks is that your video is vying for attention in overly crowded environments. Using SMS as a channel to deliver your video, or send a link to a video hosted on your website, cuts out all the competition. SMS is a great platform to send teaser videos too.
Where you position video content in your sales funnel is important. As consumers move closer to their purchasing decision, the more time they are willing to spend watching video content. Therefore longer videos can be positioned in the lower stem of your sales funnel.
Videos creating product awareness are better placed at the top end of the funnel and should be no longer than 90-seconds. Statistics show the shorter a video is the higher the percentage of viewers will watch it all the way through.
Of course, the length of time viewers will engage in a video also depends on the platform on which they are watching it. Reports reveal that 89.1% of promotional videos on YouTube are typically skipped within 10 seconds.
To date the best platform for video is proven to be the hosts website. This is because video content is used to encourage viewers to take the next step in the purchasing process. Sending promotional videos via an SMS messaging service has the potential to be even more powerful as you will reach a wider audience.
SMS messaging is proving to be an effective marketing channel that most brands are under utilising. Yet with a 90-98% open rate and a response rate up to 42%, SMS is unrivalled when it comes to reaching an audience.
The reason SMS is taking the plaudits is because consumers cannot resist opening an SMS message. Even when recipients know a text message is from a brand, they will open it out of curiosity. This is because SMS messages are typically associated with good feelings thus stimulate the reward centres in the brain.
Mobile ad spending has topped $100bn. Forecasts predict this will double by 2019. Businesses see the potential in both video advertising and consumer behaviour on mobile devices. It therefore makes perfect sense to engage in SMS marketing and include brand videos in your mobile marketing content.