Social videos are often confused with viral videos. Though they don’t always go viral, they can be extremely successful, generating significant return on investment, great audience engagement, and increased website traffic and conversion rates.
Why Social Videos Matter
The current social landscape in Australia is impressive to say the least. Down under, 62.5% of the population (around 15 million people) have a Facebook account. YouTube has 14 million unique visitors per month and there are over 5 million active monthly users on Instagram. And what is everyone doing on these platforms? Watching videos apparently!
Currently, Facebook has over 8 billion video views per day, with Snapchat right behind on 6 billion in the same period. YouTube, the second biggest search engine, reports around 3.25 billion hours of video watched every month.
Experts predict that by 2019, 80% of global Internet traffic will consist of video (Cisco 2017). Given this, social platform algorithms are favouring video content based on audience preferences. This means the less video content a business publishes, the less social media platforms will like them.
Return on Investment (ROI) of Social Videos
The beauty of social video is that you can set goals, use metrics to track and measure impact, and produce clear and indisputable reports on its impact and effectiveness.
Here’s what video can do for your business:
- Generate 1200% more shares than text and images combined. – Brightcove
- Receive 41% more web traffic from searches than companies without video. – Aberdeen
- Increase conversions by 80% or more by using video on a landing page. – Visually
- Grow company revenue 49% faster year after year than organisations without video, – Aberdeen
- Engage four times as many consumers with a video about your product than through text. – eMarketer
Creating videos that appeal to audiences on various social media platforms, making them sharable and engaging is not only recommended but necessary for brand survival and success. Social videos need to be part of your strategy. Without them, you’ll be left behind.