I had a chat with an SEO professional the other day who was adamant that predictions about the rise of video online is exaggerated. Certainly when you read projections like 85 per cent of all online consumption will be video by 2019, you stop and think.
Really? 85 per cent? That’s a lot of people watching a lot of video!
Yes it is. And while it may be a shocking number to digest, this prediction isn’t melodramatic or pulled out of thin air. If current trends continue, this is the kind of future we’re looking at.
So, what are the implications of the rise of video for business?
Video now accessible to all
With the emergence of new and accessible video technologies, DIY videos are easier and cheaper than ever to produce. Anyone with a smartphone from this decade can record a decent video and post it on social media in minutes these days.
And if businesses want high quality production, video production companies are increasingly competitive. Just ask The Delicatessen what they can do for you! (Cheeky self-promotion here, sorry, couldn’t resist!)
For SME businesses this means that they will be able to join the video revolution! In turn, accelerating the rise of video even more! It’s a vicious (or rather, glorious!) circle.
Which brings me to my next point…
Invest in video or die
Little bit dramatic, I know, but the truth is, businesses will be left behind fast if they don’t invest in video.
A number of reasons.
- Video is processed 60,000 faster by a human brain than text. Imagine the brain power you save your audience through relaying information in visual form!
- Video gets results! Consider these stats from HighQ:
– 85 per cent of marketers found video marketing successful
– Video increases click-through rates by 65 per cent
– Dwell time increases by 2 minutes on sites that include video
– Video has the highest ROI of all content according to 52 per cent of marketers worldwide
- Video gets results and is an effective tool for conversion, lead generation and brand awareness.
For businesses without video, these numbers mean that competition will be ahead, reaching and engaging a bigger audience and increasing their market share. To have a fighting chance, businesses will need to keep up with video trends.
So, is text dead?
There’s no need get rid of your blog writer or delete your blog calendar for the year yet! Text is not dead! It is very much alive and well and will most likely hang around for a while.
As Liraz Magalit, a web psychologist, pointed out, people have different preferences – some will opt for video while others would rather read. According to Liraz, their choices will depend on two things: habits and their state of mind.
Old habits greatly influence your personal preferences. Magalit found that when viewers have opted to watch a video over reading in the past, they’re more likely to do so again in the future – and vica versa.
A visitor’s state of mind will also determine whether they watch a video or read text. Browsers’ attention will be captured by pretty pictures and slick videos, whereas goal-oriented visitors know what they are looking for will be “far more likely to choose text over video when given a choice between the two,” says Magalit.
To cater to different habits, states of mind and preferences, businesses need to have a good balance of video and textual information and think carefully about how these are presented.
So, if you haven’t yet, now is a perfect time to invest in video!