5 Reasons Startups Need Video
Startup companies constantly move at a high pace and often operate as nimbly as possible. With so much at stake, many startups may think that video isn’t worth the investment. However, the benefits of video are well worth the cost. Startups need to generate interest and investment quickly, which means educating potential investors and customers about the product, legitimizing the company, and spreading the word. Video is multifunctional, can be used across multiple platforms, and are a compelling medium for getting your company noticed.
Introduce your product
For a startup to succeed, the company needs to know their market, have a product or services that deeply appeals to that market, and the data to back it up. Once a company has those in place, marketing the product or service is the next step. Generating interest for a product is key to proving there is a demand and producing data to take back to investors. For startups, the stakes can be much higher to introduce a product and make it understood to the market.
Video is one of the most effective ways to introduce people to a new product or concept, particularly if it is unfamiliar. With a short video (2-minutes or less) startups can showcase their product in an easily digestible and understandable format. Video is a quick way to make an impression and capture attention. For startups, the timeline is often sped up, making it imperative that a product is recognizable and understood. With video, companies can more quickly gain recognition for their product.
Get noticed and build your base
For startups, getting noticed and generating buzz can mean the difference between success and failure. Video appears in 14% of internet search results—which is a substantial portion of your potential audience waiting to be tapped. Integrating video into marketing campaigns at all level has a significant impact on their effectiveness. Companies that use video see 41% more web traffic from search—driving more customers to your site.
Video is also incredibly shareable—92% of mobile video consumers share videos with others. By using videos, startups can increase their reach quickly and boost brand recognition. Startups can make email campaigns more successful by integrating video, since video in email increases click-through-rates by 200-300%.
Build brand legitimacy
Today’s consumers—particularly millennials value authenticity from companies. Consumers look for brands that are transparent about themselves, their mission, and their values. Video marketing is critical to building trust with consumers and potential customers.
58% of consumers trust companies with product videos more than those without. When a potential customer can see the product or service and understand it, it results in increased trust in the product and company. For startups, building brand legitimacy is crucial to success. Investors want to see startups that have a solid presence. Video helps validate startups to both customers and investors.
Show your culture
Video is an excellent way to have fun and show the people behind the product. A dedicated team or culture video is an effective tool to teach potential consumers and investors about both the product and the overall company values. Team videos are ideal for startups because they can serve a variety of functions: drive recruitment, foster authenticity, and boost brand familiarity and reputation.
Team videos can be structured in a variety of ways, from traditional “about us” videos or instructional videos featuring real employees. Companies that are conscious about their culture rise above other companies in both performance and earnings. For startups looking to expand their team, culture or team videos are an excellent tool for recruitment. The videos also serve to reinforce the brand values and display authenticity to both investors and potential customers.
Culture videos do more than help showcase your company and product—they can be a compelling selling tool, too. Startups need to be lean to succeed, and the high ROI of video is a perfect fit for their methodology. The average reader only spends 15 seconds on a page of text, but video generates 3x as many monthly visitors to websites compared to text-only posts.
The effectiveness of video can be seen across industries and companies of all sizes and the results are staggering. Over 69% of people are convinced to purchase a product or service after watching a video and 97% of marketers have seen user understanding of their product increase because of video and 90% of users say product videos help their decision-making process.
The ROI of video is huge for startups, particularly in their early stages when operating with a limited budget. Video is so effective because it is multifunctional and can be used at every stage of the sales funnel. Using video builds brand awareness and helps legitimize a company—which is particularly important for startups in the early stages.
With video, startups can introduce their product and boost interest and demonstrate to investors that there is a demand for their product. Consumers value authenticity and video helps new companies showcase their mission and values. Ultimately, startups need to make sales and video is one of the best ways to drive conversions. For startups at all stages, video should be part of the marketing strategy.
Comment below and let us know some of different the ways you have re-purposed a company video in the past?