Stand Out in a Downturn: How Video Marketing Can Help Your Brand
The coronavirus pandemic has had a severe impact on the global economy. Businesses around the world are struggling to stay afloat, and many are turning to video marketing as a way to keep their brands in front of consumers. This is why you should be using video marketing, especially during a recession; keep reading for more!
"Reel-y" Insightful Key Points
You can use video marketing during a recession—or any other time—as a tool to
Engage with customers, even while the world is becoming more virtual
Build trust in your brand by communicating your value and leveraging the emotional aspect of visual storytelling
Showcase your expertise by communicating complex topics in an easy-to-understand format
Stand out and fill the void in the market, while other businesses cut back on their marketing efforts
Expand Your Reach
Video production is an effective way to reach customers, no matter what the economic climate. With more folks stuck at home thanks to the pandemic, they're turning to online platforms like YouTube and social media for entertainment and information. That's where you come in! By creating engaging video content there's an opportunity for your business to get its message out to potential customers who may have yet to be reached. And the best part? You can target specific audiences or regions with tailored messages that'll really resonate.
Keep Them Hooked
During tough economic times, folks tend to be more careful with their spending, making it even more important for you to effectively communicate the value of your products and increase engagement with your brand. But, that's where video marketing plays a crucial role. Studies show that videos can make or break a consumer's purchasing decision. Did you know that according to a study by Hubspot, "an overwhelming majority of people (96%) report watching explainer videos to learn more about a product, with 89% being swayed to make a purchase"? Video content is the total package - it’s highly engaging; it’s visual, entertaining, and informative all at once. It’s a tool that allows you to highlight the features and benefits that set you apart from the competition. For example, as consumers hunt for good deals, highlighting affordability might be one of those features that set you apart. And, let's not forget about the added bonus of driving traffic to your website and increasing conversions on your e-commerce store. Additionally, videos have the ability to create emotion in viewers, which can lead to increased engagement and even brand loyalty if done correctly. As a result, businesses that invest in video marketing during a recession are more likely to see a positive return on their investment in terms of increased sales and revenue.
Demonstrate Your Know-How
Using video content can be a great way for businesses to demonstrate their knowledge and expertise in a particular subject area or industry niche during times of economic hardship. Videos allow you to communicate complex topics in an easy-to-understand format that will help educate potential customers while building trust in your brand at the same time. This type of content can also make it easier for people who are unfamiliar with your business or product offerings to understand what you do and why they should choose you over other competitors in the market.
Empty Space, Full Potential
Like we said before, during a recession, it's natural for businesses to start pinching pennies and cutting back on their marketing spending. But this can actually be a major opportunity for businesses that keep on investing. While other companies are scaling back, there's a big ol' gap in the market just waiting for your brand's message to be heard. By creating high-quality, engaging videos, your business can stand out and snag the attention of potential customers who may have never even heard of you before. Plus, with fewer competitors in the market, your videos are more likely to get noticed and shared, giving your message a wider reach. By filling this gap in the market, your brand can gain a major competitive edge and attract new customers who are looking for a reliable and trustworthy product, service, etc… So, instead of cutting back on your marketing efforts, consider doubling down and using this opportunity to make your brand's voice louder than ever before.
In a Nutshell
Video marketing is an important tool for businesses during a recession, or really any time. It helps you connect with customers, show off your expertise, fill the void left by other companies cutting back, and build trust with potential customers. Videos give businesses the chance to reach new audiences while breaking down complex ideas in a fun and engaging way. So, whether you're a startup or have been established for years, video marketing should be a top priority in your overall strategy. Don't hesitate to reach out to us for help creating a powerful and effective video marketing strategy for your brand.
Author: Brandon Hardy