To capture the attention of new customers in 2021, a year in which the threat of the pandemic and the pressure to remain in our homes is only trending upward, marketing strategists are evaluating the benefits of online video marketing strategies as closely as ever. Marketing professionals stand to gain, perhaps significantly, from taking a serious look at the contrasts between online strategies and the more traditional marketing techniques such as television advertising and newspaper ads.
The average American spends over 100 minutes per day watching videos online. That is the equivalent of a full-length feature film, each day.
Marketing professional would be wise to research the promotional benefits of videography, content editing, and digital technologies if they want to build brand awareness in a society that so heavily encouraged to just “stay home.”
The question of whether video really can kill the radio star is still an unanswered question. And yes, even now it may be too soon to suggest that traditional methods of marketing such as newspaper ads, radio ads or television ads are trending towards being obsolete. 99 percent of marketers are expected to continue using videography as a key component of their marketing strategies just as much this year as they have in years prior. Statistically speaking, 95 percent of the marketing community plans to maintain and even increase their investment of marketing dollars in online video production services[i].
But we get it. The wide array of marketing channels available to your business can be confusing. All that is required to thoroughly evaluate all the comparisons and contrasts between traditional and digital (online) promotional strategies can cause quite a bit of anxiety when marketing dollars are at stake.
However, here is one thing we have learned when comparing the two; digital and traditional marketing methods are not binary. And that can be a good thing.
Simply stated, “traditional marketing” includes any marketing activity that is, well, not done online. This would include everything that existed before online / digital options presented themselves as successful means of marketing a brand.
While traditional marketing methods (including print media, direct mail, or outdoor advertising) may be easily and even conveniently labeled as “old school” and therefore outdated, traditional marketing is also the most researched. As such, these traditional methods will likely still play a significant role in 2021 marketing strategies simply because these methods are so well documented and tested.
It must be pointed out that traditional marketing is still a daily experience for all of us. Everyone still encounters print advertising in the flyers they receive in the mail and in the daily newspapers still delivered in hard copy. There is also the factor of “staying power.” Much of traditional marketing remains in the physical realm; hard copy ads can be mailed, received, set aside and referred back to over an extended period of time.
Like their online strategic counterparts, traditional marketing methods can allow a message to be broadcast to a targeted audience via the use of zip codes. However, this technique implements the “one and done” rule; a flyer can indeed be seen, but the people viewing that publication will be likely to throw the flyer into the recycling bin.
As such, traditional hard copy methods are proving themselves to be high-risk and low reward.
Once thought of as little more than simply making videos, defining online video marketing has evolved to the utilization of videography to support the promotional campaign of a product or service for the purpose of engaging and educating viewers. Therein lay the key distinction in the comparison of traditional to digital – the concept of consumer engagement.
It matters less what specific type of videography a company uses. What is most critical is that your video content successfully promotes your brand in the manner that engages or calls the consumer to action. The success of videography as a component of marketing strategies was especially revealing in 2018 and 2019 as videography / digital marketing matured from being simply a tactic, to videography becoming its own business marketing strategy.
Recent years have demonstrated a clear surge in the popularity of video as a key marketing component.
It’s worth noting that the worldwide average amount of time spent per day by people using the Internet, on any device (smartphone, tablet, iPhone, PC, etc.) is 6 hours and 40 minutes. (Smallbiztrends)
Specifically, Americans are at the 6-hour and 31-minute mark in per day online action; just 9 minutes fewer than the worldwide average.
Any business would desire that a percentage of that time spent online be spent on their brand.
In a sense, online video marketing falls under the more broadly defined term of digital marketing; the use of any means to promote a product or brand using online platforms. These online platforms include any one of a wide array of social media sites, paid advertising, blogging websites, etc. The marketing dollars attributed to digital marketing efforts in the United States is projected to increase by over 80% in between the year 2018 and 2023.
Marketing professionals are able to successfully promote their brands by not only pinpointing their efforts based on the location and gender of their targets, but digital marketing efforts can be more precisely calibrated to a consumer’s purchasing behavior; sites a consumer has viewed, purchased from, what sites the consumer has shown interest in, and more.
When comparing digital marketing to the traditional methods of marketing, the former has not only shown an appealing cost advantage, but also the more easily adaptable solution as well. Many of the online sites offer their services at no charge, and even the online options that require a fee offer an attractive ROI by providing great exposure. Yes, television, radio ads, newspapers still have a role to play in many marketing strategies. Yet when one compares these particular methods to the digital marketing options that are now available, especially in the volatility of a pandemic environment, the benefits of online video marketing become very profound.
Here are the key comparisons when comparing online video marketing to traditional measures:
Online video marketing:
Marketing professionals can be easily overwhelmed by the wide array of digital marketing services available to them. Therefore, it is important to not only have a clear understanding of your business, but also understand how online video marketing can be used to engage your target audience. One good analogy to use is when was the last time you visited your doctor’s social media profile?
The following statistics tell the story:
The truth of the matter is, for most businesses, digital marketing provides the better return on investment when compared to traditional channels. With 4.5 billion active Internet users in the world, 3.8 billion being active users of social media, putting more of your company’s marketing dollars towards digital marketing is arguably the better bet[iv].
It wouldn’t be wise to discount traditional methods of marketing media altogether such as newspaper, radio and television. A strong marketing plan will coordinate your online and offline efforts together. The days of using mostly traditional marketing methods that “pepper in” digital marketing techniques to boost the effectiveness of a marketing strategy is an approach that is rapidly coming to an end.
2021 is the year all businesses need to consider and embrace these new and effective digital marketing strategies.
Lastly, there is much that goes into crafting the best video content to promote your brand, and it is going to be hard for businesses to grow in 2021 without using videography in some way. To execute an effective online video marketing campaign a business requires a partner that has the expertise to understand and build video that eloquently communicates a company’s brand.
A poorly crafted or edited video can be a huge liability for a company that is attempting to create their own videos “in house,” especially for the first time. An unclear message or brand distortion on account of poor video content can be very harmful to a company.
To use sales analogy, if you want the best wedding photos do you seek out the resource with the experience, the equipment, and the software to best document the happiest day of your life, or are you just as comfortable handing a camera to someone who happens to be attending your wedding?
Innovative online video marketing is more than just a new way of marketing your business. In 2021, it is becoming a way of operating your business.
Do it right.