Online video has become the next logical step in the online marketing movement explosion. The results are compelling, as businesses of all sizes adopt a key method that can attract and hold the attention of the buying public. Compared to the written word, a single one minute video can contain 1.8 million words. When you do the math, this escalates the value of online video so that it blasts off the charts. If you are stopped in your tracks with that statistic from Forrester Researcher’s Dr. James McQuivey, then you will want to pay attention to the rest of this information that shows online video is now a true marketing force, especially as an addition to any online course.
Time is of the essence: Video to Written Pages
Did you know that 1.8 million words translates to around 3,600 pages? Given the average typing speed of one hour for one web page, it would take you 150 days to complete the content that is found in a one minute video. Even if you accomplished this incredible feat, who would take the time to read it all? Add to that the cost of paying someone to actually write that many pages.
Online Video Engagement is 45.4% and Rising
comScore is the main net company that analyzes online use and engagement and they have released the data that 45.4% of internet users are viewing at least one video each month. This is a pretty powerful statistic; especially when you extend that to the over 100 million people watching all types of videos each day.
Faster Connectivity Options Means Higher Viewing
Gone are the days of snail paced connections for desktop, tablet or smartphone. Today’s high speed connectivity is the boon for anyone who wants to capture their customer. Visible Measures has released a report stating that any company has 10 seconds to catch the attention of the viewer. Faster speeds allow your well-designed online video message to convert to a click through to continue the interest for the complete video and have a potential customer sign up.
Mobile Viewing Outpaces Standard Media
Mobile use has officially surpassed all other media sources. According to eMarketer, the amount of growth in the use of mobile devices has jumped 23%; growing faster than traditional media. With this uptick, eMarketer anticipates that adults will be spending 5 hours and 46 minutes each day on mobile digital media. While it remains in second place when compared to television, it is climbing faster than any other media source. The other good news is that mobile viewers have a longer attention span for videos than desktop or tablet users. This equates to a better chance to capture and keep the customer.
Video Converts to Longer Website Time
A Cisco analysis anticipates that by 2017, internet video traffic for the global consumer will explode to around 69%. This compliments the SocialMedia Today report showing a 65% retention rate for online video as compared to test-based information at 10%. In essence, online video can keep your viewer on your website for a longer period of time, and this equates to a powerhouse marketing tool. This is great news for your website, because your search engine stats will show a higher elevation rate due to longer duration times on the site. It also complies with the newer Google analytics that is kicking out ‘keyword’ stuffing and moving towards length of time on a specific url.
Online Videos Extend to All Topics and Demographics
The success of online videos might be noted in the retail environment, but companies of all verticals are finding that online videos are fast becoming the key to attracting new customers and maintaining their loyalty. From real estate to online courses, the crafting of smart videos has benefited every aspect of the online experience. We are in a society that not only watches online videos but they are now setting up a requirement for increased demand for online videos.
Online Video ROI: Big Payoffs
The data is almost overwhelming on the payoff side for online video:
*Online Publishers Association report that 80% internet users recall watching an online video and pursued the website, 26% wanted more information, 22% visited the ad named website, 15% went to the company that was displayed in the ad.
*2010 Forrester study showed that the click through rate for an intro email that included an online video jumped to 96%.
*Forbes Insight report showed that 59% of senior executives prefer a video than reading a text report or page. Of that percentage, 65% clicked through to the website of a vendor, 50% pursued additional information and 45% contacted the vendor after viewing a video.
*For an online retailer, a StacksAndStacks.com study showed a 144% increase to visitors more likely to purchase when an online video was presented for the product.
*The amount of investment that is needed for an online video is far below the number of staff, writers and webmaster expertise that would be needed. Imagine the cost to create an instructional online video in a text version, and then ‘hope’ that a viewer would actually take the time to read through all of those pages.
Easy Platforms for Online Video Uploads
The advancement in technology design for online video uploads has created a situation of fast and easy uploads. The right platforms offer the ability to track viewing statistics and make ad hoc changes to adjust to the target audience.
Overall, the online video method has outpaced and outranked every other form of net marketing and information sources at a lower cost and higher retention rate that is now enticing the increase in smartphone viewers. Increased consumer and customer base for your target audience demonstrates excellent opportunities for optimized profitability. Online courses that take advantage of video options are destined to capture a higher level of customers and viewers at a rate that far outpaces any other media format today.