Social media plays an integral role in peoples’ day to day lives, and for most businesses it is a no brainer that they should have a presence on platforms such as Facebook, Twitter, and so on. However, what many companies might not consider is the advantages that video on social media can have for their business.
Just a quick look at video engagement shows that video has huge value for money in terms of marketing success. According to Dr. James McQuivey of Forrester Research, one minute of video has the value of 1.8 million words. The average user is exposed to an average of 32.2 videos online in a month, and of these users 90% of online shoppers say they find video helpful in making shopping and buying decisions. (Source) Video is emerging to be the future of internet, if it isn’t already. For businesses this is a trend to take advantage of. Not only does video increase the chances of your marketing message being seen, but it is more effective and memorable as well.
Social media is one of the biggest platforms for viewing and sharing videos, 4.75 billion pieces of content are shared daily. (Source) Globally users spend an average of 20+ minutes on Facebook. Looking at some viral clips can give you an understanding of how effective video on social media can be.
Take Candace Payne’s ‘Chewbacca Mask’ video. It was posted on Facebook on Thursday and has already become Facebook Live’s most watched video ever with 94.5 million views.
The mask was from Kohls department store and by association the store has received extensive media attention. The store took advantage of the video’s popularity by sending gifts to her home, which she then posted a picture of on her Facebook page next to the original video (Photo).
In turn, the smart companies who sell similar masks and Star Wars merchandise are capitalising on the hype by running Google and Facebook adverts to boost their profits from the coverage. Because social media platforms work as a community everything has a ripple effect and it is easy to take advantage of trending topics and videos.
Furthermore, videos such as Candace’s are genuine and un-staged, creating an emotional, genuine relationship to the Kohl’s brand. People now connect her video and enthusiasm to the company and are more likely to remember the business and its products. Her video also shows that videos don’t have to be high quality to be effective.
Videos on social media are engaging, cost-effective and can be potentially transformative for your business. They should not be overlooked as an incredibly effective marketing tool.