March 27, 2014
Video marketing statistics can reveal a lot of the misconceptions, misunderstandings, and prevalent myths about marketing.
This was made abundantly clear in a recent poll taken by Denise Graziano. Graziano, President of Graziano Associates, recently hosted a national marketing webinar aimed at small businesses. She took the opportunity to poll the 700 attendees, asking about marketing practices, and discovered the interesting gap between an overall need for brand awareness and reservations about adding video as a marketing strategy.
47% of respondents admitted to needing more brand awareness. Which makes sense when you add that 36% noted that they are working with a limited budget.
Out of everyone polled at the event, only 14% of respondents were using video marketing to promote their brand, which likely speaks to those same concerns about how to make the most out of a small budget.
Addressing myths about video marketing
It’s pretty reasonable to draw a link between the need for more brand awareness and the low number of polled small businesses using video marketing. The use of video has received a lot of attention, mostly because we know that appetite for video has been growing by leaps and bounds. With over 4 billion Youtube videos viewed each day, and with video successfully making the rounds through social media, businesses have been taking note and adjusting their strategies accordingly.
But the poll by Graziano makes clear that lingering reservations about cost and the true impact that video will have still exist. Instead of viewing video as an inexpensive tool for successful outreach, some small businesses still see it as something that requires a huge budget, and competition with big businesses. It turns out that the truth is just the opposite, and actually levels the playing field.
When we think about using video marketing successfully, or any other strategy that might be new to us, some re-learning about preconceived notions can be required. Instead of flash and little to no substance, which is assumed about what it takes for successful video marketing, viewers are really looking out for creativity. Video is known for filling the gap that can exist between a brand and consumers, narrowing it based on the creativity and emotional appeal of content.
Brands that have invested time and money into video marketing, from video testimonials, to other contests and campaigns, know that it is absolutely budget-friendly. The key is to continue having these conversations, with ourselves and other brands. It’s necessary to understand where our consumers are spending their time, so we know how they’re evolving, and so we can keep up and continue the conversation with them, instead of feeling like we’re lagging behind.