A recent report noted that 76% of marketers said they planned to use online video. But have they, really?
Only 23% of national brands are currently using online video. †Many brands continue to use marketing tools that have worked for them in the past to reach their customers.
There is a significant gap in those using video and those who say they plan to use it at some point. So, why arenít more marketers using video in their marketing? The simple answer is fear. The top five fears preventing marketers from embracing video are listed below.
Fear 1: Itís Expensive
For years, in the wake of shrinking budgets, marketing departments have learned to work with reduced resources. When marketing directors and CMOs strategize how they will drive leads and generate awareness for their brands, they shy away from video for fear that it will eat up the lionís share of their budgets. Many believe that, to produce a good-quality video, they must invest in an outside professional.
Fear 2: Itís Complicated
The mere thought of producing a video causes some marketing directors to become overwhelmed by the details involvedófrom what type of video to produce, where the video will live, and how to distribute the video to the right channels to reach the right audiences, to figuring out whether to hire an outside consultant or produce in house, who will be in the video and what will be said. Those details need to be sorted out, often leaving marketing departments to conclude itís too complicated to produce a video and easier simply to turn to other marketing tools instead.
Fear 3: Itís Time-Consuming
Because smaller marketing departments donít have the luxury of time, many believe lining up all the elements for producing a video is too time-consuming. Also, if marketers are going to spend the money to produce a video, they want to make sure they target it to the right group. Some 28% of marketers say creating videos aimed at the correct audiences is their biggest challenge.
Fear 4: Poor Quality
Many marketing departments canít justify the cost of hiring a videographer to come to their offices and shoot a video. The alternative is to shoot the video themselves, and many folks worry this will result in a poor-quality product that consumers wonít watch. They are right! Consumers give up on videos that donít load in two seconds and 43% of people watch online video said they would switch to a competitor if the video quality were poor. However, lower-cost options for video production do not have to result in a poor viewer experience.
Fear 5: It Wonít Produce Results
Videos are great and many offer entertainment, but departments need to prove its ROI---and many marketers believe that videos donít produce the results compared to other proven marketing tools.
While many marketers will continue to stall on using video in their marketing, consumers are watching video at an increasingly rapid pace. ComScoreís U.S. Digital Future Report revealed that 75 million viewers watch online video per day and 40 billion videos are streamed per month. †According to Forrester Research, those numbers are only expected to increase with 90% of the online population regularly watching online video by 2017.
But the good news for marketing departments that want to enter the online video game is that there is really no reason to be afraid. Todayís online video tools and techniques are easier, more affordable to implement, and more effective than you may think. Once you overcome your video fears, you will be empowered with a competitive advantage over those still paralyzed by video fears.