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Sales & Marketing

1 Post authored by: Joel Comm

In the early days of advertising as we know it, if a business wanted to reach the largest possible audience, there was a number it could call. That number connected the business to the advertising sales department of a television studio. At a time when families sat together every evening in front of a twelve-inch, black-and-white television screen, running a commercial during the peak time shows could give brands an audience in the tens of millions.

 

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The rise of the Internet has changed that—and not just because families no longer watch one screen together. Companies now have access to a wide variety of digital options like banner ads, social media posts and ad units, email newsletters, content marketing, and targeted search results to promote their messages directly to their key target audiences. They’ve noticed. In 2017, digital ad spending exceeded the value of television advertising for the first time.

 

As technology and behavior have changed, marketing has changed with it. What hasn’t changed is the type of marketing that’s still most likely to convert potential customers. Businesses that hoped they could fire their scriptwriters and box up their video cameras to focus on text ads and copywriting have been disappointed.

 

Video remains the most effective advertising format.

 

Companies that place video on online landing pages have found their conversion rates increasing by more than 80 percent. Seventy-six percent of marketers say that video has helped them increase sales. Eighty-one percentof people have bought a product or service after watching a brand’s video online.

 

Those conversions have been driven by a steep rise in online video watching. Marketers expect that by 2020, the average person will spend about 84 minutes every day watching videos online.

 

We’ll be watching those videos on YouTube, of course, but also on Facebook and Twitter, and even LinkedIn. Although relatively few marketers currently place video on the professional networking platform, about 75 percent of those that do said that showing ads to the platform’s business users achieves results. Video is popping up everywhere.

But online video is very different than the kind of ads shown on television.

 

Most of the video marketing seen online is short, cheaper than fully produced television spots, and is developed to resonate specifically on the platform where it’s being placed.

After the Superbowl, viewers might pull up YouTube to re-watch long, funny, big budget commercials. But on social media, they want to watch short, digestible videos, to comment, like or share, and keep scrolling. According to Hubspot, videos that generate the most comments on Instagram average just 26 seconds. Marketers on Twitter can stretch their time to 45 seconds, while Facebook’s users have an attention span that lasts as long as a minute.

 

Viewers also tend to watch their videos with the sound off so that they don’t disturb others during activities like a morning commute—or alert their teachers that they’re not paying attention in class. That means telling a story visually and using prominent subtitles to explain what the viewer is seeing.

 

None of that is simple. It takes more effort and expense to create an effective video ad than it does to make a website banner. But video marketing doesn’t have to involve a lot of effort and expense. Some of the most effective commercial video content consists of live broadcasts in which the owner of a business sits in front of a camera, talks directly to customers, and answers questions about the product. The audience might be small—a live video might reach only a few hundred people during the broadcast itself—but it can be hugely effective at building brand loyalty. And even when you’re making a YouTube video that’s less than a minute long, you should be able to do it without breaking the bank.

 

The world has changed since the days when soap companies sponsored daytime shows. Audiences have split and screens have shrunk, but video marketing remains just as effective. It can now be highly targeted and, at a time when we all have a video camera in our pockets, it’s readily available to every business.

 

Learn how to use compelling video for your small business. Check out these other articles:

 

 

About Joel Comm

 

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As an Internet pioneer, Joel has been creating profitable websites, software, products and helping entrepreneurs succeed since 1995. He has been at the frontlines of live video online since 2008 and has a deep expertise in using tools such as Facebook Live, Periscope, Instagram or Snapchat to broadcast a clearly defined message to a receptive audience or leveraging the power of webinar and meeting technologies.

 

Joel is a New York Times best-selling author of 15 books, including “The AdSense Code,” “Click Here to Order: Stories from the World’s Most Successful Entrepreneurs,” “KaChing: How to Run an Online Business that Pays and Pays and Twitter Power 3.0.” He is Co-Host of The Bad Crypto Podcast one of the top crypto-related shows in the world and has spoken before thousands of people around the world and seeks to inspire, equip and entertain.

 

Web: https://joelcomm.com/ or Twitter: @JoelComm

Read more from Joel Comm

 

Bank of America, N.A. engages with Joel Comm to provide informational materials for your discussion or review purposes only. Joel Comm is a registered trademark, used pursuant to license. The third parties within articles are used under license from Joel Comm. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.

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