To summarize that video, there are three reasons why brands are missing out if they aren’t leaning into video advertising.
#1 Video Drives Incremental Sales
It may not seem blatantly obvious, but brands are actually losing out on sales if they aren’t investing in video. Historically, video has been seen as an upper funnel tactic. It’s all about awareness and gaining brand rapport. This can be true, especially for a longer form video where you’re telling a story. But videos are also very integral to building consideration before purchasing a product. Sometimes, it even leads to the end conversion.
This is especially true of short form videos. I know a lot of people are afraid of six-second videos not being effective. However, that’s the way digital is going these days. Obviously, there’s a lot of things trying to grab consumers attention, especially on social media. So brands have to quickly explain the value of the product and compel action.
Video advertising is a more personal way to connect with the consumers. It’s more impactful in a lot of ways than a display ad. Those are simply static banners, whereas video is compelling you to stop, pay attention and consider the next steps
#2 Video Improves the Customer Lifetime Journey
The second thing brands should consider is the customer lifetime journey. Video can build greater affinity. This is especially true for people who already know your brand. It’s easy to pivot to other brands with a similar offering, especially if it’s lower cost. But if you use video to build connection and affinity, it will be positive for your brand.
Another thing to consider is how you can use video to educate the consumer. Think about creating useful how-to videos. Help them visually see the value in investing in your brand. Then, there’s the excitement around generating new leads for your brand using video.
But there’s also the consideration of building repeat purchasers. For example, serving videos that highlight different products to upsell or compliment their existing purchases. There’s no better way to do that than this very highly engaging medium.
#3 Video Increases Brand Recognition
Lastly, video can generate buzz around your brand. Of course, people appreciate reading reviews online. But when you think about platforms like TikTok and YouTube, video is really what’s capturing attention. It’s a very shareable medium. If you want to go viral and create a moment for your brand, video is the way to go.
Video can seem expensive. But it doesn’t have to be high production quality. It can be user-generated content that comes from your iPhone that’s six seconds long and that even feels more authentic on social platforms.
The longer we wait to dip our toes into the water, the further behind we’re going to be for our brands. Now is the time to invest in video and understand you are going to get that return. It may be a longer journey before you see that investment come back, but it ultimately will feed into your bottom line.
Now that we know the benefits of using video, let’s explore how to maximize the impact of your video ads.