Any successful business owner knows that establishing and maintaining an edge over competition is essential for sustaining vitality in a downward economy, especially when calculating ROI (Return On Investment). Many small and mid-size savvy business owners have found their edge by launching a video marketing campaign. Online video is the ideal solution to get the best bang for your buck!
The popularity of online media-sharing social sites such as Facebook and YouTube makes for the perfect marketing outlet. Small businesses once sat on the sidelines as larger companies dictated the marketing world. Plain and simple, the “mom and pop” businesses just couldn’t afford expensive TV or full-page print ads, but then came the Internet! Whether experienced small business owners opt to manage their own video ad campaigns or decide to seek help from online video marketing services, now they can level the proverbial playing ground in cyberspace.
Online video content shatters physical boundaries to allow anyone, whether from a small town or large, to compete in the global marketplace which would otherwise be too expensive to reach without the help of the World Wide Web.
Unlike conventional TV ads, online video marketing campaigns are very effective in garnering twice as many customers and spending half in advertising costs! A minimal financial investment, combined with a massive audience reach, yields astounding ROI results. For example, at least 50% of the U.S. population (over 154 million) will watch online videos this year. Predictions by eMarketer indicate that the online video market still has several years before peaking with a 3.8% annual growth rate in 2012.
In fact, in today’s fast-paced society, almost everything is watched on the go! With that said, it’s only logical to surmise due to future advances in technological widgets and gadgets, the demand for online video will continue to surge. The results actually speak for themselves in a recent Nielsen’s finding entitled “Three Screen Report.” The findings suggest future unprecedented growth expected among all ages when it comes to viewing videos on mobile devices.
If you’re still wavering on whether or not to invest in an online video campaign for your business, consider the following stats on online video spending:
• Past: 67% yearly increase from 2008.
• Present: 21% of video streams are monetized; Online video ad annual spending $750 million.
• Future: Predicted to exceed one billion dollars in 2010.
As a business owner, if you’re interested in launching your own online video marketing campaign, educate yourself first. Do a little research on predicted forecast trends and how your business fits into the equation. Be ready to answer how you can increase the exposure for your product or service in light of the latest social media trends. Familiarize yourself with competitors. For serious-minded entrepreneurs, consider incorporating online video into your marketing budget. Remember you only get one chance for a first impression!
