The massive shift in the audience’s media preference for digital and online sources is the main cause of online video’s rise in popularity. In the U.S. alone, a mind-boggling 85% of Internet users watch videos online.
The rising demand for online videos is being met by an abundant supply. More videos have been uploaded within 30 days than the major TV networks in the United States have created in 30 years.
Businesses are also affected by the popularity of online videos. 69% of business people, including sales, marketing, and other professionals, have used video in their effort to grow. The remaining 31% are planning to.
On a larger scale, almost every single company (93%) uses online videos for various purposes, including making sales, ramping up their marketing, and smoothing communication with clients.
When asked if they are planning to use online video(s) in their content marketing within the next year, 96% of companies say yes.
What all of these facts tell us is that consumers’ attention shift to online videos makes it almost essential for companies to do the same.
Why Your Audience Loves Online Videos
We can summarize it like this: Whoa, this video thing is getting crazy.
We know that companies go where their audiences are–which is the Internet. But people prefer to watch online videos for several reasons.
First, compared to other sources of media and publications such as TV, newspaper, magazines, and radio, online videos are more mobile and accessible. With the continuous advances in smartphones and laptops, online videos can be viewed almost everywhere.
Second, online entertainment is self-curated by the viewers themselves. Traditional TV channels provide their shows by schedule, which kinda sucks. If you are a 9-to-5 worker, it can be hard for you to watch your favorite shows that air at 2 p.m.
This is why online services like Netflix, Hulu, and Amazon Video are so popular: Users can watch their favorite TV shows wherever and whenever they feel like it.
Even free platforms like YouTube and Vimeo have a great array of independent creators whose works are basically on-par with corporate TV shows — minus the complicated corporate workflow.
Third, the entire entertainment industry seems to be going along with the shift to online videos. Movies and TV shows are using online platforms to publish promo content like movie teasers, trailers, interviews, and behind-the-scenes shorts.
Why Your Company Needs Online Video
With all that said, online videos are a good type of content for a company to have. Here’s why.
Your Audience Is Watching Stuff Online
As I discussed earlier, people’s tendency to spend their time online looking for entertainment is the number one reason why online videos should be among your types of content. The more time people spend on the Internet, the more likely their online videos will be discovered and watched. This leads us to point number two.
Amazing Brand Awareness Source
The Internet offers unlimited potential for exposure and brand awareness that you can’t get from any other publication media, especially when you use online videos.
However, virality and a truckload of views are merely icing on the cake. The real value is in exposing and introducing your brand to people who fit your ideal customer persona. Odds are they already spend most of their free time online.
The third reason–and this is an important one–is the capability to track and measure every single one of your videos.
Traditional media like billboard ad spots, TV ads, flyers, and newspaper ads can reach a large audience, but they lack analytic features. The ability to track who watches your video, and when, where, and how they interact can give you great feedback for improving your future videos.
For a business that looks to grow, online video is the content you need.
According to Nielsen and the IAB, switching from television to digital video can enhance your campaign’s reach at a lower cost.
In addition, it makes the campaign’s reach more effective—generating an increase in the general recall by 15%, brand recall by 33%, message recall by 45%, and likability by 40%.
How badly do you need online videos?
The true answer depends on this question: Who are you selling to?
If your target audience group is anyone between the ages of 15 and 34, you need it badly. Consider spending most of your marketing resources on online videos and promoting them using PPC (pay-per-click) targeted ads.
In the US, 97% of adults aged 18-29 use the Internet. This is the best platform that exists for companies that target millennials.
There is almost zero chance that your idea buyer doesn’t conduct online activities that involve videos and social media.
Nowadays, an older audience also spends time online regularly, but not as much as the younger ones. That’s why you should divide your budget into two: half to spend on online videos and promoting them, and the other half to spend on other media like TV or newspaper ads depending on which one best suits your ideal buyer.
Use this chart by the Pew Research Center that references the demographics of Internet users in the U.S.
Looking at the data, Internet users are of virtually all ages. The number increases over the years.
In short, even if your target audience is really old, and not likely to be on Instagram, creating online videos will not be a waste of your time. In a few years, grandmas and grandpas will be on Instagram, and your early practice in making online videos will be useful. In other words, videos are a future-proof choice for your company.
Is it really worth investing in online videos, even if you don’t really need them that much?
The answer is yes.
Even if your target audience is not typically a group of Internet users, an online video isn’t content that needs to cost tons of money. Creating an online video is always a good investment for your company to increase its presence on the Internet.