71% of brands spend more on video marketing & explore fresh formats
Published on November 15, 2013 by Brafton Editorial
The mass majority of brands are creating videos to enhance their content marketing strategies and the stakes are rising. The 2013 Online Video Marketing Survey and Business Video report predicts companies will put more resource toward video marketing next year. Around 71 percent say their budgets are increasing.
It’s great that companies are investing more in sophisticated visual formats like video to appeal to internet audiences with higher expectations, but they must resist the urge to get in the production phase and forget about marketing. Video diversity is essential for keeping content fresh and continually driving results.
According to the report, many of the 600 surveyed companies have already put their eggs in multiple baskets with a variety of video content.
On-location video shoots were the most popular – 73 percent of survey respondents said they create these kinds of clips. Interviews and testimonials were the second-most common type of video, used by 68 percent of respondents. Another 58 percent reported they use moving image or presentation videos, while 56 percent create animated or motion graphics. Spokesperson videos fell to the bottom of the list, with 48 percent of marketers leveraging this format.
Around 71 percent of marketers say their video budgets are increasing this year.
This data is encouraging because it indicates marketers are creating diverse video strategies that appeal to viewers at various stages in the sales funnel. It’s also an important wake up call for all marketers that competitive video strategies go beyond one-note sales tools. A first-time viewer might be more interested in an animated video that introduces the brand and its products before they are ready to see customer testimonials.
While there’s no precise formula for which formats will resonate with prospects, there are some basic guidelines marketers should follow. Brafton’s latest webinar listed seven common video mistakes, including pigeonholing strategies and creating clips that don’t speak to audiences. Marketers bringing more money to the table can’t afford to suffer from those missteps, and they must create campaigns that resonate with viewers to drive ROI.