The power of video marketing in times of economic challenges.

In a time of rising inflation, interest rates and rising costs, it is more important than ever for businesses to make smart investments that help them stay resilient and grow. But what exactly can companies do to remain resilient while setting the course for a successful future?

There is no one right answer. Many roads lead to Rome. What does become clear is that as a society and as individuals, we are consuming more and more content. There is no end in sight. This drive and hunger for more content, for good content, is paving the way for businesses to meet and pick up where their customers are and offer them what they are looking for. And statistics show that there is a clear winner: Videos! This is exactly the opportunity for businesses to lay the foundation for a successful future.

Companies that recognize the power of video today and incorporate it into their marketing are well equipped for the future.

The numbers speak for themselves. Companies achieve an 80% higher conversion rate when they use videos for their products and services, as well as in other areas of the business. This means that customers are more likely to buy when they have the opportunity to watch a video instead of a still image. New employees are more likely to be hired if the company uses videos to introduce itself and show prospective employees their areas of responsibility, expectations and opportunities within the company.

But why is video marketing so important, especially in tough economic times?

First came Covid-19, then the war between Ukraine and Russia broke out, and then there was the problem of inflation and rising interest rates. Over the past three years, governments around the world were forced to print money to support people during the pandemic and as a result of the war and to secure jobs. The result of this action was inflation and rising interest rates, which led to higher costs for both individuals and businesses. However, it would be fatal for businesses to put on the brakes now and not invest. Smart investments are needed not only to survive in the long term, but also to grow and prosper. To do this, companies need to know where it makes sense to invest and what will help them be well-positioned in the long run. How can video marketing achieve these goals?

Brand presence and credibility through videos:

More than ever, companies need to increase the credibility of what they stand for and what they do. Customers are not only becoming more demanding, they are becoming smarter. They know exactly what they want and how they want it. At the same time, customer expectations have skyrocketed. Today's customers don't just want good quality, they want emotions and they want the "experience." They do not want the product or service, but an enjoyable and great experience during the purchase process. This is exactly where video marketing comes in. No other medium is able to meet these expectations and target the emotional needs of the customer. A still image can be as well crafted, but it will struggle to convey the right information, emotionally packed into a few seconds. Videos can. If we are honest, only videos can offer the customer an experience. That's why successful brands rely heavily on creative video content to enhance their image, increase customer loyalty and provide exactly the information needed.

Customer loyalty and retention:

Companies that rely on video marketing stay in the minds of their target audience. Especially in the age of social media and short attention spans, case studies impressively demonstrate how regular video content strengthens customer loyalty. Companies that rely on regular video content experience higher customer loyalty and build long-term relationships.

Performance measurement and optimization:

Video offers a unique opportunity to measure performance and understand what works and what doesn't. Videos can be analyzed down to the second. How many people watched the video? How long was the video viewed? What was clicked on the most? Measuring video performance is crucial. Tools such as analytics dashboards, click tracking and viewer analytics help organizations understand and improve the effectiveness of their videos. Companies using this data can create more targeted content and optimize their marketing strategies.

But not all video is the same: What do I need as a business?

Types of videos for different business purposes:

Product launches: These videos are a great way to clearly present the features and benefits of a product. They are great for companies that want to launch new products or explain their features.
Manuals and guides - best for YouTube channels:** These videos allow customers to learn how to use products or services. They are ideal for companies that have complex products or want to teach their customers how to get the most out of their offerings.
Customer Reviews and Testimonials:** These types of videos build trust with potential customers by showing real experiences and opinions of other customers. They are particularly effective for companies looking to highlight their positive feedback and credibility.
Livestreams and interactive videos: These provide a direct opportunity to interact with the target audience in real time. Companies can share live events, question-and-answer sessions or exclusive insights into their work to build closer relationships with their customers.

Employee and brand videos: Finding and attracting suitable new employees has become very difficult. Company and employee videos can help with this and make a big difference. For example, existing employees can talk about their jobs and areas of responsibility, how long they have been with the company and what opportunities they see for the future. Potential job applicants can watch these videos. This gives them insight into the company and they know exactly what to expect. This not only streamlines the application process, but also makes it much more effective. This is because only those will apply who have a clear picture of their job and the company's expectations.
All in all, video marketing strategies not only provide immediate returns in the form of increased sales, but also promote brand, customer loyalty and adaptability for companies in the long run. It is an investment in the future that is crucial not only in the short term, but also in the long term.
In short, the power of video marketing goes beyond advertising - it is a strategic investment in a company's resilience and growth, especially in times when economic challenges are increasing.