2021 was a strange year for digital marketers and eCommerce in general. On the one hand, the industry experienced the highest growth in history. In fact, according to the United Nations Conference on Trade and Development (UNCTAD), online retail sales jumped 16%-19% between 2020 and 2021, to $26.7 trillion.
On the other hand, the covid-19 period has been one of the most difficult for eCommerce. Delivery challenges, strong shifts in demand, and cybersecurity issues have rocked the industry throughout the past two years. More importantly, the accelerated digital migration (for both merchants and consumers) has intensified competition. Thus, making marketing more difficult than ever.
We (like many other experts) strongly believe that video marketing can help digital-first small and medium-sized enterprises overcome most of these challenges. Below are five reasons why you should focus on video marketing to help your business get ahead of the competition in 2022.
According to Oberlo Marketing, videos are so popular they will account for over 82% of online content in 2022. Indeed, today, 85% of digital consumers view at least one video per day, and 54% say they would like to see more videos. As a result, 87% of marketers have made video content marketing their primary marketing tool.
You, too, must invest more in videos if you want to remain competitive and keep your customers returning in 2022 and beyond.
One of the biggest challenges digital marketers will face in 2022 is lower conversion rates. There are many reasons why. However, increasing competition is the biggest one. As more of your competitors join you online, the scramble for leads will be intense. Thus, you need to be smart to increase conversions and close maximum sales.
Videos are excellent conversion tools. According to HubSpot, videos increase the likelihood of conversion by up to 80%. Indeed, 71% of marketers say that videos are their best-performing conversion tool.
Did you know that you’re 53x more likely to rank on the first page of Google search results if you have at least one video embedded in the page you’d like to rank for? Well, now you do. In particular, YouTube is critical now that Google owns the company.
If you doubt it, go to Google and search for anything. The first few results are almost always videos. In fact, sometimes, you may find up to six videos before you see the first all-text result.
“Share” is perhaps the most common word in the online space today, only rivaled by “Like.” The average social media user shares 92% of the posts they come across. Many people are even happy to share other people’s “shares.” That’s why content marketing experts insist on creating shareable content to reach more people.
Videos are the most shareable type of content. Social media users often share videos 12x more than text and images combined.
Finally, videos enable a more personal connection with your audience than written content or still images. This is crucial for your business as the economy bounces back. Your customers are still recovering from possibly the darkest period in their lives. You must be sympathetic and show that you care if you want to retain their business. Video content enables users to get insight into you and your brand.
According to OptInMonster, 83% of consumers say they connect better with videos than text and still images. Customer testimonials, tutorial videos, and demonstration videos are the most effective video types.
Although it’s already critical to digital marketing, a focus on video marketing will be even more important in 2022. Videos are already more popular than text and still images. However, as the economy recovers and normalcy resumes, videos will be crucial in connecting with customers emotionally. By tapping into this, you can improve conversions, and see better search rankings for your business.
Looking for help? Tired and believing there has got to be a better way?
Let's talk about your business. With over a decade of experience leading companies and transforming lives, and a Master's degree in Org. Development and Leadership, Mike can help you find the best way forward!