Video can communicate quickly and more effectively than any other marketing medium. According to statistics from HyperFine, in 2016, the average user spent 88 per cent more time on websites with video than on those without, and was 64 per cent more likely to make a purchase after watching.
Good video content drives engagement. With consumer video engagement soaring to new levels, it’s clear why marketers are now integrating video into email marketing campaigns. In fact, according to a white paper from Tubular Insights (formerly ReelSEO) and Flimp Media from 2013 (that you can download here), 60 per cent of marketers reported they are already using video in email marketing campaigns.
So what’s stopping you? We scoured the internet to find out if using video content in your email marketing campaigns will truly help grow your business. The results were pretty amazing, but we’ve summarized our findings so you can see for yourself.
Email marketing increases click-through and conversion rates
If you’ve been properly marketing your business, then increasing both your click-through and conversion rates should already be a main priority.
Just starting your email marketing efforts? Here’s a quick lesson: a click-through rate is defined as, “clicking a link embedded in an email that drives to a page on the company’s website.” A conversion rate is “the percentage of users who take a desired action.” So, for example, the percentage of website visitors who buy something on your site.
We know that video increases online engagement, so it makes sense that it would do the same for email marketing campaigns.
According to research conducted in 2013 by Experian, a global leader in consumer and business credit reporting and marketing services, there are many variables at play when it comes to conversion rates. One factor affecting conversion rates is whether the video included in the email is effective and relevant to the audience it targets (but we’ll talk more about this in Part 2).
Experian’s research recommends that companies start by embedding video in emails and running an A/B split test using multiple videos, when possible. Experian marketing services clients earned 55 per cent higher revenue per email, and a 50 per cent higher open rate compared to emails without video.
Similar findings come from Wistia, a video hosting and analytics company. The company saw a 300% click-through rate increase in their email marketing efforts, compared to the emails that didn’t include video. It also cited a “dramatic” increase in other important areas, such as engagement and interaction.
The same research from Experian found that the use of video in email marketing campaigns increases the conversion rate by 21 per cent, and the average order value by 24 per cent.
But what about return on investment?
Return on investment (ROI) is something that marketers often struggle with, only because high click-through rates and engagement don’t always translate into sales.
According to the statistics, email marketing (in general, not necessarily using video) doesn’t have this problem.
Statistics from The Data and Marketing Association’s 2015 National Client Email Report found email marketing has a ROI of 3800 per cent. The report also cited email has an average ROI of $38 for each $1 spent, which is a significant increase from the $25 that was reported in 2013. One in five companies also reported an ROI of more than 70:1, and more than half of all respondents expected their company’s spend on email to increase.
If you’re curious about your own email marketing campaign’s ROI, follow this classic equation: gained-spent/spent= return on investment, expressed as a percentage. We suggest finding the ROI of every email marketing campaign you run, so you can see the results and differences for yourself.
Your competition is already doing it
Video isn’t the way of the future or “the next big marketing tool.” It’s already here! Back in 2014, digital performance marketing company, Syndacast, predicted videos would be responsible for 74 per cent of all internet traffic by 2017. While there isn’t conclusive data as to whether this is true (yet), the current landscape would suggest their predictions are not far off.
Forbes wrote a piece in 2016 echoing these sentiments and the author described the current playing field: video is not a “marketing accessory.” At this point, it should play an integral part in your marketing efforts, regardless if it’s for email marketing, social media, or any other medium. If you haven’t leveraged video yet, regardless of the excuse, you’re missing opportunities.
Further to these points, Social Media Today just published an article naming video email marketing as one of the hottest trends of 2017. The article reported emails that incorporate video links can increase your email’s click-through and open rates exponentially.
The article also advised readers to expect video content and email to increasingly meld together in 2017. Audiences appreciate video content because it’s concise, convenient, and interesting (if done right, but again, we will discuss this aspect in Part 2).
Drawing from the 2013 Online Video Marketing Survey and Business Video Trends Report, 93 per cent of marketers reported using video in their campaigns in general, and 60 per cent were specifically using video in their email marketing campaigns.
This data, while impressive, is also four years old. 70 per cent of the 600 survey respondents said they were planning to increase spending on video, so we can assume these numbers have increased since the time of publishing.
It’s simple. If you’re not using video in your email marketing campaigns, you’re not marketing your business to its full potential! Judging by these statistics, your competition may even be beating you to your clients.
Video adds a personal touch to your email campaigns
If you’ve read our blog before, you’ll know this is important to us. One of the reasons we believe in video so much is because of its power to connect you with your audience. Video works to humanize your brand, which in this market, is something most companies need desperately.
How many emails do you disregard because they come off as impersonal or “spammy?” Video is the perfect solution to this common issue.
Video email marketing allows you to embed a video in your email with an actual person speaking directly to your audience. Video is not only great for making a connection with your customers, but it can be used a sales tool as well. It’s human nature, people simply respond better to other people.
Video marketing is about building relationships with actual people. You don’t want to be sending out emails about how amazing your company is, but about how you can specifically help your potential customers solve an issue they may be having. It’s in your best interest to connect with your audience in the most authentic way possible.
The statistics speak for themselves. Video is a marketing tool you should be using in your email marketing campaigns.
Stay tuned for part 2 on ‘Why your next email marketing campaign needs video’ where we’ll talk about the best types of video you should be producing for email marketing.