7 Trends Rocking Video Marketing in 2017

We all know that marketing has changed over the last 5 years. Video content has rocketed up the ladder of importance and it’s fair to say, video is no longer an option for accounting firms looking to grow; it’s essential. There are real and continuous changes in how audiences want to view and interact with video and even the smallest of firms can take advantage of the video revolution.

It's a powerful way to communicate your firm’s story, explain your point of difference and build relationships with your clients and prospects. With so many firms now characterised by an ageing client base it’s time to focus on the next generation of business owners – who, according to Hubspot, love video:

• One third of all online activity is spent watching video
• YouTube reports mobile video consumption rises 100% every year
• 87% of online marketers use video content
• 90% of users say that product videos are helpful in the decision making process
• Video in an email leads to 200-300% increase in click through rate
• The average user is exposed to 32.3 hours of video in a month

These are the video marketing trends that you need to be aware of in 2017:

1.    Clients want to use video to complete more of the buying process online

We know that up to two-thirds of the buying process now happens online. Prospective clients are viewing your website, blog, social media and online reviews before they get in contact with you. And that’s the way they like it.

In fact, 40% of prospects would prefer to complete the whole buying process online, without ever talking to a human being.

However, if these prospects decide not to invest in your services you would rarely know they were looking at your website. With traditional marketing, prospects did their research by contacting you directly, and follow up calls to ‘missing-in-action’ prospects were standard practice to close the sale. Now, prospects complete their research online and if they don’t find exactly what they need, they sneak off elsewhere and we have no way of following them.

When you incorporate video into your sales process you can present prospects with a “sales person” on their terms. You are able to show them with your brand, people, approach, knowledge and even your location in a way that words and still images alone can’t achieve. Moreover, prospects can digest the information in their own time, on their terms.

2.    Only video is good enough

Over the last few years, businesses have jumped on the video marketing bandwagon because it is simply better at communicating marketing messages. They say a picture paints a thousand words. One minute of video is statistically worth 1.8 million words! (Source: Dr James McQuivey)

It’s an efficient marketing tool but it’s also what our prospects demand. In fact, 25 percent of consumers were found to lose interest in a brand if it did not have a video explaining its product or service.

3.    That old adage – It’s quality over quantity

With video marketing exploding in popularity you have to stand out from the crowd. Low-quality videos will not get the views or engagement your practice needs. In fact, they may do your brand more harm than good by portraying you as an amateur. With cloud accounting and the commoditisation of compliance work, clients want their accountant to be more than a number cruncher. They want advice on how to grow their business and they expect their accountant to be knowledgeable and tech savvy. You will be judged on the quality of your videos.

When you’re investing in filming and post-production of a video, you want to see a return on your marketing dollar. First impressions count and you need a professional, high-quality video that will stand the test of time and still look modern in years to come.

As an example, watch this video we created for one of the members of our Accountants Accelerator Group.

4.    Video will take more of your marketing budget… but that doesn’t mean you need a bigger budget

Brian Halligan from leading marketing group Hubspot recommends that video marketing now makes up 50 percent of your marketing mix! This can make accountants cringe because they know video production can be more expensive than other marketing channels like social media or blogging. However, you should remember that marketing is an investment not a cost and you need to measure your return on investment.

The important thing is to ensure your marketing agency not only understands the trend towards video, but reflects that in its pricing. Looking for a Marketing Package which incorporates consistent filming and post-production of video content, along with all your other marketing essentials, in one fee can ensure you can stand above your competitors without paying above the odds.

5.    Facebook’s 2017 Goal is “Video First”… and yours should be the same

We have known for a while now that you are 53 times more likely to show up on the first page of the Google rankings if you have a video on your website. Not surprising really, considering Google owns YouTube.

Now Facebook will also give you preferential treatment for uploading videos. It was announced by CEO Mark Zuckerberg in 2016, when he stated that video viewership doubled from 4 billion views per day to 8 billion views per day in just seven months. He said that they were recognising that video is what their users want to see. There was no mistaking what the Facebook CEO meant when he said, "I want to start by talking about our work around putting video first across our apps,"

They are even testing a dedicated video feed stream to let viewers only watch videos shared on their network. Without video, you will miss the boat.

6.    More videos will be designed to play without sound

The majority of online video is now consumed on mobile devices such as a smartphones or tablets. This means people are watching video on public transport, in cafes, in the work lunch room and possibly even at their work desk … but we’d never rat them out on that!

The point is, Facebook recognised that it suited their users better if videos played without sound.

However, while 85% of Facebook video is played without sound (Source), 96% of YouTube video is played with sound (Source). You therefore should ensure that you not only have a fantastic script and soundtrack but that you have an advanced post-production team who are able to communicate your message in captions and on-screen graphics.

7.    Email Marketing, Newsletters and Blogs will become video format

Using the word ‘Video’ in the subject line of an email increases open rates by 19% (Source). Placing a video in your email newsletter increases click-through rates by 200 to 300 percent (Source).

It’s clear, people prefer to watch than read so if you incorporate videos into your blogs, newsletters and email marketing you will get more viewership, engagement and a higher return on your investment.

Conclusion – Stop Playing Catch-Up

Like every trend, to see real results you need to stay ahead of the curve. If you are using digital marketing techniques like social media, blogging and email marketing you’re probably just keeping up with the competition. Essentially, you’re just doing what needs to be done to stay in business in today’s competitive market.

If you want to GROW your firm, you need to be a trend setter. If you’ve got an ageing client base you need to feed the hungry crowd of millennials who consume videos in big numbers.

Video may have killed the radio star but they can help your accounting firm. If you’re ready to launch your video marketing campaign talk to us today. With more than 30 crafted video scripts to choose from we can help you produce high impact videos complete with cutting edge graphics and post production effects.