If you don’t think video marketing is that important to your business strategy, think again. Recent reports from Cisco VNI found that, by 2020, as much as 79% of all global internet traffic will be video based. Think about how that plays into the marketing campaign you are currently running. Does it provide you with the leverage you need?
What Does This Mean for Your Business?
It’s hard to recognize the impact this increasing demand will have on today’s business owner. However, it’s important to invest a bit of time in considering what this may mean for your needs. In short, it means most of today’s business owners will need to focus on these aspects:
- You’ll need to put more effort towards creating video as a larger component of your marketing campaign. This means you’ll need to put more of your budget towards video creation and marketing.
- You’ll need a strong and effective video marketing strategy. You’ll want to develop a plan of how to use video to achieve your goals.
- And, you’ll want to stay focused on new technologies and innovations. This will prove to be very helpful since the video industry for online production is really still growing and changing.
Let’s look at some key statistics from Cisco VNI’s report:
- By 2020, internet video will make up as much as 79% of global internet traffic. That number stood at just 63% in 2015.
- By 2020, there will be five million years of video per month uploaded to the internet – three trillion minutes a month!
- Of that video, 82% will be HD or Ultra HD in content. That’s an increase from the 53% that was present in 2015.
- 82% of consumer internet traffic will be video by 2020. That is up from 68% just two years ago.
- And, 66% of business internet traffic will be video based, up from 44% just a year ago.
What Should You Do With That Information?
As noted above, you’ll need to take some steps to create a better focus on your video marketing efforts. You’ll need to work with business leaders to ensure you have a more comprehensive plan. And, you’ll want to show those managing your budget why you need to focus more on these areas. In specific terms, you’ll need to show them that video can:
- Build brand awareness.
- Create more engagement between your business and your customer.
- Enhance and increase lead generation efforts by marked amounts.
- Increase sales and, by a result, increase profits.
You will also need to consider ways to measure your success in video marketing. This is a good place to start when building your video strategy. For example, you can choose different methods and types of video formats and then see which leads to more email signs up. You can see who is watching your videos, what they are doing after they watch your videos, and how well this translates into profits for your business.
Video is of growing importance to every business today. Without a fundamental strategy, and one that’s put into place soon, your business will likely struggle in the years to come. While video will be important, not all video will create the same type of outcome. High quality, consumer focused content created by a professional will ultimately lead to the best possible results.