What is Stopping Your Small Business?
Brand building can be an unusual pain for small businesses and startups. Building a product is only the first step towards building a business. We need to do zillion things everyday wearing millions different hats. And to grab the attention of a customer who has the likes of Netflix, YouTube, and Instagram on their mobile devices is an uphill task.
Today, humanity produces nearly 44 billion GBs of data every day. And this proliferation of content has been allowed because of the advancements in hardware technologies of devices combined with low cost or nearly free data.
And most of the content produced competes against millions of other similar content and the coverage of events in the world. Essentially every business or individual on social media seeks the time of a potential customer.
Identifying the customer segments is one thing but reaching out to them is a completely different ball game. Take this into account, Zenith Online Video Forecasts 2017 says that as compared to 2016, there will be anincrease of almost 8 minutes in online viewing in 2017, thereby taking the time an average consumer in the world spends watching online video to around 47.4 minutes a day. And to put things into perspective, we can just multiply the no of active users on YouTube to the extra video viewing time i.e, ~1 billion*47.4= 48 billion minutes every day. That means 48 billion Customer minutes are up for grabs.
An effective way of reaching out to your clientele is by familiarizing them with your product/services viavideos.
Why videos you ask, well Unruly says the joy provided by video ads jacks up the purchase intent of the customer by about 97%. Sweet, isn’t it?
Not just this, the customer’s brand association also scales up, and brace yourselves, it increases by a whopping 139%.
Meanwhile gone are the days when many believed that a good product will sell itself. Does it happen today?
And if the good product sells itself, I wonder where is the buzz made and what are the mediums incorporated? You could answer that.
Not just this, 52 out of every 100 consumers say that the product videos made them more confident about buying products online, or so says Internet Retailer. If this fails to sway you, nearly two-thirds consumers said that depending on the amount of information provided in the video ad, they watch it two or three times.
The customer is always right, anyone?
Let’s talk numbers, From 2015 to 2016, time spent on YouTube grew 40% faster among adults 35+ than among adults overall. It is not just this, the sheer amount of time people are spending watching videos leaves you with a vast amount of customers to connect to.
With the growing internet penetration in India, online video content consumption is growing at an exponential rate. A device in every hand coupled with a high-speed data connection is fast replacing the old television set. With online video all set to add 300–400 million unique users in next 2–3 years, you don’t need the abovementioned Gretzky quote to tell you that video adverts are the way of the future.
To put things into perspective, your business is dying for a play button on its website and social media handles.
