Another good question we are asked nearly daily.
The answer is two-fold. When your competition takes your share of the market and when you lose your consumer’s attention is when you should be contacting someone to develop your video marketing strategy.
More important, everyone should be using video marketing.
Mounting Competition
Many times a business will find out during their sales process that their competitor has launched a strong video-centric digital marketing campaign. In most cases, these businesses find they are far behind their competitors with the method they are using to deliver their message.
Take for example the change in consumer’s interest in podcasts. The businesses who moved to video podcasting are gaining consumer’s interest, especially in the younger demographics. Those who are just starting out in podcasting or have invested too much in the podcasting production feel stuck and will usually find they may have to rebrand their business to get back on top.
Keeping Consumer’s Attention
Keeping consumers attention is a tough job. As more and more video-centric devices are manufactured the more appetite the consumers have towards consuming only videos. YouTube still is the number one search engine and with the broadening of their scope to reach out to more video producers to develop LIVE streaming programs they probably will jump way ahead of Facebook LIVE.
However, LinkedIn could become the mainstream challenge to YouTube..that is if they continue to embrace more quality produced videos and develop a higher standard of only allowing quality video production. Meaning LinkedIn needs to push back on their user’s use of webcams and smartphone productions.
New Form of Video Marketing
With the OTT/CTV productions now being frequently included in video-centric digital marketing strategies, more consumers are going to start turning those large monitors in their lobbies into streaming OTT/CTV programs. Those businesses who get in first with signing up for OTT/CTV quality level of productions will capture consumers loyalty. It is a hold new world that use to be only open for large enterprises or business who could drop $500k on video productions. It is not uncommon to produce OTT/CTV programs for under $35k. Money well spent since OTT/CTV programming is seen by billions of viewers.
Avoid the Uber Way of Marketing
Don’t wait to find out if your competition is going to use video marketing. Now that 85% of all levels of businesses are using video marketing your competition is more than likely already using video marketing or is about to start.
Naturally, small businesses will react to finding their competition is using video marketing by attempting to produce their own videos. The best strategy is to get professional help. Small businesses who go the DIY route run a 88% chance of not succeeding or doing damage to their brand by producing lower quality or immature videos.
Learn what is needed to launch an effective video marketing campaign before reacting to feelings that video marketing is expensive. What is expensive is the cost of video marketing done wrong.
Contact SyncLab to learn more about what is involved with using videos to market your message.
Let me know how I can help.
