At the end of last year, we predicted that one of the major trends that will define customera engagement in 2016 would be video marketing. For businesses that have already embraced video marketing as a pillar of their customer engagement strategies, this was probably preaching to the choir. Those who are still on the fence about bringing video into the fold might have rolled their eyes a bit at that prediction instead.
But, as we’re quickly approaching the midway point of the year (can you believe we’re almost halfway through 2016 already?) we wanted to revisit this prediction, give the skeptics out there some concrete numbers about why video marketing is the real deal and show how video marketing is going to be a game changer for customer engagement – both this year and beyond.
The Value of Video
It’s not just a theory – video marketing adds a demonstrable, dollar-sign value-add to your revenue stream. In fact, marketers that utilize video see their revenue growth outpace that of non-video marketers by 63 percent. How? By making it an interactive and personalized experience.
Just as salespeople who greet consumers when they walk through the store and help them find the products they’re looking for can lead to increased sales and customer satisfaction, making interactive personalized video a core part of your marketing efforts is key for driving engagement. It puts customers in control of their purchase – allowing them to dictate what they see in a given video and when, instead of being bored by a generic message or YouTube ad they’ve seen a dozen times already.
And the truth is, it really works. Just getting customers to watch a video can be a hurdle in and of itself, but when it’s customized to their wants and needs, more than half (55 percent) will stick around to watch, well over the industry average. Beyond that, a whopping 76 percent of customers will take part in an interactive personalized video for at least four minutes – a benefit that goes a long way not just in improving overall engagement, but leaving customers satisfied and more likely to remain loyal to your brand.
Video marketing is the future, but it’s not enough to just post clips on to a YouTube channel and call it a day. With interactive personalized video, you’re allowing your customers to navigate your site and discover the content they need at their discretion, distilling complex messages into simple and relevant pieces of information and demonstrating that you know who they are, what they want and why you’re the brand that can fulfill those needs.
To learn more about Pitney Bowes’ interactive personalized video suite, EngageOne Video, and why it needs to be a part of your marketing platform in 2016 and beyond, read our whitepaper “The Four Myths of Video Marketing.”