Updated: Aug 24
By now, you’ve probably heard all about how powerful a tool video marketing is for your overall strategy. So, what’s holding you back?
81% of marketers feel that video has a direct, positive impact on sales, yet there is still a staggering number of marketers who are hesitant to dip their toes into the video marketing industry.
Video is one of the most engaging forms of content. In fact, 69% of people said they’d prefer to watch a video when learning about a new product or service, so why are some marketers nervous about diving into video marketing? Glad you asked.
In this blog, we’ll review the top 5 myths regarding video marketing that might be holding you back.
Myth # 1: Video Marketing is too expensive
A lot of marketers don’t use video because they feel that it is too expensive, but is that actually the case? Of course not! It’s an understandable concern, especially for small businesses, but this myth has become detrimental to those businesses that could otherwise be seeing astronomical growth.
While it is possible to rack up a hefty production cost when creating and editing video, you certainly don’t need to. 59% of companies said they use only 10% of their marketing budget on video creation.
These days, people prefer brands to be raw and authentic as opposed to perfect, just make sure you come up with compelling and engaging content.
Myth # 2: ROI is hard to measure
This isn’t as big of a myth as the others but still isn’t entirely accurate. If you’re looking at videos on Youtube or your website, tracking results is complicated – that’s true. You’ll mostly see how many people viewed your video, but not if they watched until the end. That information is essential because it tells you where your viewers lost interest.
Determining whether your video resonates with viewers is vital to your marketing strategy, so pay attention to the nuanced metrics of your video marketing campaigns. You can examine a host of additional data from shares, views, click-through rate, video completion rate, and conversion rate.
If you take the data from your videos and compare it to your statistics during the duration of your campaign, you’ll get an idea of your ROI.
Myth # 3: Video has limited uses
This myth honestly makes the least amount of sense because video content is actually one of the most versatile. You can create countless types of video content, including teasers, how-to videos, case studies, testimonials, and much more.
Not only that, videos increase open rates, boost click-through rates, and encourage people to share on social media, which drives additional organic traffic.
There are also many different ways you can easily and affordably repurpose already existing content to bring additional value to your business.
Myth # 4: Video creation is time-consuming
A huge percentage of marketers don’t use video marketing because they feel it is too complicated – don’t be one of them, because 87% of video marketers reported that video gives them a positive ROI.
Video marketing can be daunting, especially if you haven’t done it before. We get it, truly. Don’t be intimidated by the prospect of creating video content because there are limitless resources to lead the way.
You can easily capture video content from your phone since phone cameras are incredibly high quality these days. It doesn’t have to be a complex video with scripts and expensive actors. You can start by recording testimonials and go from there. If this seems too complex for you, Peech can take the weight off your shoulders by helping you create flawless video marketing content.
Also, don’t worry about the video going viral. It’s more important to reach your target audience than for everyone to see it.
Myth # 5: Video is irrelevant to my industry
While some industries are a more natural fit for marketing videos, that doesn’t mean other industries aren’t relevant. In fact, if nobody else in your industry is using video marketing as part of their strategy, you have a unique opportunity to stand out and find out what works best – before your competitors do.
It would be a shame to miss out on such a fantastic opportunity simply because you don’t think your industry is suitable for video marketing. 92% of video marketers say that it's an essential part of their marketing strategy, so use the opportunity to your advantage!
Now that we’ve debunked these myths, we hope you take the plunge into video marketing to take your business to the next level. It doesn’t have to be difficult or expensive, and Peech can help you every step of the way to create creative and engaging content!