Updated: May 7, 2020
In the midst of this pandemic, you may have found your small business heavily impacted. You may have been rethinking your business strategies and how you can cope with the emerging "new normal."
It's true that as small business owners, we are faced with the need to adopt new business practices and find more effective ways to market our products and services to our target consumers.
One marketing strategy that is becoming a trend in 2020 is the use of videos. With the rise in social media's popularity, many small businesses use video marketing to reach as many people as possible. We see the increase in explainer videos, vlogs, and webinars. These are effective means of making people familiar with our business without breaking the bank.
Why is video marketing effective?
First, producing short explainer videos, vlogs and webinars does not need sophisticated equipment or a team of film experts. All you need is a camera, be it a phone camera or the regular one. You will be surprised that most marketing videos you find in your Facebook feed were shot using a smart phone camera and polished using free video editing Apps.
Second, most people prefer videos over written content to learn about a service or a product. According to one study, 72% of people surveyed said they would rather use video to learn about a product or a service and 39% of consumers would finish watching a video when it has subtitles so they can watch it in silence.
Third, the ROI from video marketing is much higher than in conventional print marketing. It was reported that 88% of marketers are satisfied with the ROI from video marketing because of higher return owing to low production cost.
Finally, videos can easily be posted on social media which is now considered the most powerful influencer in consumer decision-making. Running an ad on Facebook, Instagram or YouTube is relatively cheaper than running an ad on TV, newspaper or radio and would reach more people.
So, why not start producing videos now? Do you have a new service that you want people to know about? Get a phone camera and take a video of yourself talking about it. If you're interested in learning video editing, you can download a free app to help you do it. Or you can find someone do it for you for a minimal fee.
Here are a few sample videos shot using an iPhone 6 and edited by a professional for a low fee of $200-250:
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