As a startup, your marketing needs are challenging because you don’t have the time and skills to make your message stand out the way it should. This often leads to the startup being dead on arrival or taking a long time to accomplish its goal. One of the major ways of preventing this is to have a compelling marketing tool like video. Thanks to customer habit, over 500m people are watching videos online every day (Forbes), and over the past years, video streaming has seen a hike in usage by successful startups as it plays a major role in engaging prospects and turns them into customers. in this article, you will learn how to scale your startup using effective video marketing.
Strategy
Let’s talk about building marketing strategies in general and how startups can use it to achieve their brand goals (monthly, quarterly, or annually).
As complex as marketing can be, experts rely on a framework called SALES FUNNEL (awareness, interest, decision, and action) A.I.D.A as a strategy for marketing to get customers and grow sales. Because of its success in achieving marketing goals, it has been wildly used by successful startup and big brands. Though big bands often spend lots of money in marketing compared to startups which are always conscious about their outflow.
The best way to use marketing strategy to generate results in a startup is to make sure it’s efficient and affordable. An explainer video is the kind of video marketing that helps new brands to create engagement at the same standard as that of big and popular brands like Google and Dropbox. Creative brands can use an explainer video to achieve their SALES FUNNEL in the following steps:
WHY IT WORKS?
Generally, visual elements that are relatable to users experience and to aid purchase decisions.
Types of video for marketing:
- BRAND PROMO This type of video is used for creating awareness of a product or service.
- Product review What the product is all about, its merits, why the prospect should buy it.
- How-to video / Product demonstration video; This type of video gives an in-depth walkthrough of the product or service. The purpose of this video is to help your audience understand how your product works. This is very important in startups because it shows the features and benefits for those who are considering buying.
- Testimonial video: This is a great way to show that people love your product. It is mostly used to enhance the buying decision of your customer. I.e., when potential prospects see a glowing testimony from other customers, they are most likely to choose you.
Budgeting (CAC)
Video marketing is one of the most efficient way of getting customers online. But the question is, how much is necessary to spend to acquire a customer? The average R.O.I is 3x -10x the cost of marketing. The simplest metric to guarantee 3x-10x sales of marketing expense is ENGAGEMENT. 90% of engaging media leads to sales. What you spend on a properly planned video marketing yields a quality investment, but poorly planned marketing would often yield little to nothing.
Benefits of video marketing
Increase conversion rate
According to surveys from 70% of marketers, video produces more conversions than any other type of content. This pays off nicely for e-commerce sellers who have found using product videos to increase sales on an online store by 144%.
Even if you don’t have an online store, including video on a landing page can increase conversion by 80% and after watching a video, 64% of users are likely to buy an item online.
For instance, dropbox embedded an explainer video into their landing page and within 24 hours there were already more than 75,000 sign-ups!
Search Engine Optimization
The key to a successful online marketing is getting traffic (people searching for your products) which is very vital to startups. Video marketing is no different, you need to get people to view your video. For this to happen your videos need to be indexed and ranked on search engine result pages. Search Engine Optimization (SEO) comes into play here. It involves making certain changes to your website design and content that will make your video more attractive to search engines. Another secret to a successful SEO video campaign is your hosting platforms such as YouTube and Vimeo. They will increase your chances of reaching a large audience. However, this could affect traffic coming to your website, as by posting on these platforms you lose out in directing traffic to your website. If you are looking to get traffic, you can direct it to your website by including a call to action; calling for viewers to visit your site.
Build credibility
For a startup to survive in a market, it needs concrete credibility form its audience. And what medium is best to use building credibility? Video, video serves as a tool that bridges the gap between startups and audience, its feels more transparence to the audience than any other marketing medium. According to a survey, 80% of people said video had persuaded them to make a purchase from a brand.
In-depth analytics
With the sophistication of modern analytics, your videos can provide a comprehensive, in-depth data that can give you all the information you need to see how successful your startup video marketing campaign is. For example, you can see how many times your video was watched, where the views come from, you can also see the duration at which your video was watched. This can in turn help you to make a good guess on how your viewers are engaging with your content.
Boost Social Media Engagement:
By creating engaging videos for your startup, you stand the chance of standing out from the pile of online noise, because on social media everyone posts images and writes articles. Engagement is very important in the digital marketing world. If your content doesn’t drive engagement, traffic and conversion will suffer. Videos promote social media engagement, and If you produce relevant and educational video content for your startup, it will boost engagement to your audience.
CONCLUSION
The appeal is clear, videos enable startups to communicate their story in a way that is engaging and personal. Videos give startups a platform to talk about their business, product, or service in a way that makes the customer feel at ease. When a brand is ready to move a step forward, finding a solution isn’t the problem, but turning an expense in marketing into an investment (one-time fee that has a progressive impact in your business over a long period of time) which allows the brand to solve multiple marketing problems in a single package, is definitely a dream come true. However, finding offers like this in the industry is like searching for a lost treasure, which most start-ups don’t have the time to invest in.
Owing to this, we’ve been able to create an alternative to searching for lost treasures by providing start-ups with a free session to create effective video marketing for a brand’s SALES FUNNEL. This Includes pricing strategies to implement video solutions. And we’re are just a phone call away from improving your decisions. That said, we can provide a video marketing package for your business to effectively level up your marketing metrics.