Due to the advancement in technologies and opportunities, various event marketers are facing new challenges and competition in this digital world.
Due to the advancement in technologies and opportunities, various event marketers are facing new challenges and competition in this digital world. Digital Event Market has crossed all the charts whether it may be revenue or innovations or bringing new digital media into the world. The use of the internet, social media, video sharing platforms, and other digital means of communication have become a part of our daily lives and billions of other people as well.
According to Internet World Stats, “the total world users of the Internet accounted for 4.5 billion with 58.7% of global penetration as on 31 Dec 2019”. Out of which more than 80% of Internet traffic came from digital video content where most of the event marketers were found using video advertising tools to entertain and educate the audience that clearly states the people all around the world spends most of their time watching video viewable contents on a platform like YouTube, Facebook, Instagram, etc.
Video marketing or advertising can be a powerful tool to promote your event. Creating a promotional video is a fantastic way to reach new audiences online. In this article, we’ll not only look at the benefits of using video in marketing but also how to engage and reach the audience at an emotional level.
What is Video Advertising for Events?
With people exposing themselves to more and more digital media which has made the society more informed than ever. With people surfing and searching for information about products and services, purchasing and selling, marketers are competing to grab the attention of masses.
“Video and digital media are changing the way people shop and make buying decisions based on viewing a video advertisement, it’s a mega-trend” – Mark Zuckerberg.
There’s no exact definition to it, some might say that advertisement falling within a video viewable stream qualifies as video advertising. Some might regard it as an engaging and rapidly growing platform providing value that other digital mediums simply can’t.
Event Marketers consider video ads as an ideal attention-seeking visual perfect for grabbing the attention of viewers and driving sales. In research conducted, “80% of users can recall a video advertisement they have seen in the past 30 days”.
How Videos are changing the Dynamics of Event Marketing?
Event Marketers have responded to video advertising as a paradigm shift by increasing the use of digital marketing. In 2019, it was said that one-third of global advertising spending is to be done in digital platforms which in turn has led to future customer marketing to be carried out in digital settings, mainly video and other streaming platforms.
According to a study, “26.4% of marketers don’t know which online tool to use to help them market events”.
Video advertising focuses on an extensive approach in the selection of service, product, and brand by using mainly the Internet as a medium to promote in the form of viewable media in addition to mobile video-ads. The main aim of event video advertising is to attract attendees by giving them the medium to interact with the product or service or brand through digital media.
According to Forbes, "Video ads account to be 35 percent of all ad-spending revenue".
Many experts have highlighted the fact that video advertising by event professionals will be dominating the digital world in the coming decade, which suggests the right time for influencers and marketers to learn about viewable media and improve their reach and audience with the effectiveness of video ads. Although video marketing for events has been around for a while now, it’s surprisingly underused.
If you want to engage existing or new audiences online with your event, a video might just be the tool for you. Here are some interesting facts that you should know about if you are an event marketer or promoter.
- According to Forrester Research, “A minute of video is worth 1.8 million words”.
- “Video is 600% more effective than any print media or direct mail combined, and 1200 times more likely to be shared than links and text combined” – Forrester Research.
- A HubSpot study shows, “51.9% of event marketing professionals worldwide name video as the type of content with the best ROI”.
However, at times it is not always a win-win situation for marketers. An Irish study conducted in 2019 indicated that 60% of participants highlighted that there are many ads associated with video and streaming platforms while the remaining 40% of participants were frustrated with the same video ads that prevented them from watching their favorite content. The study concludes with the statement saying, event marketers need to be extremely cautious while creating video ads that the audience perceives as genuine and relevant.
Benefits of using Video for Event Marketing
Event video marketing strategies can be created using a time-based model. Mapping the different types of videos to create a timeline of events will help you to decide what videos to make and when to release them. Creating video content that people might want to share makes your job a lot easier.
Here are some of the benefits of video advertising that you can use to market your events.
- Video helps in boosting Conversion Rates - Video should be seen as an investment opportunity as including video on a landing page can increase your conversion rate by 80%. It can influence buying behaviour and persuade a potential visitor to convert into a lead. Conveying the right emotions through video is a powerful selling tool for any event.
- Video helps in building Trust and Credibility - Video is the perfect way to create a personality for your event and your brand, enabling you to connect with your attendee or visitor to earn their trust. 90% of people say that having a video describing the event is helpful in making a decision. The more videos you have to help educate and inform your customers, the more you will build on that foundation of trust. And trust translates to sales.
- Video is a great addition to your event marketing campaigns - Featuring an event video can lead to a 200-300% increase in click-through rate, resulting in positive decision making. It’s easier to watch a video than to sit and read the text in a newspaper or a magazine.
- Video encourages Social Media Engagement - Video marketing is growing in scope for events. From creating a teaser video to using Facebook live, there is a wide range of opportunities for you to choose from as an event marketer to benefit from the social media tools. According to research, 92% of video consumers share videos with others, thus enabling a wider reach and scope to promote your event.
- Video helps in growing Revenues – Event Marketers who use video to promote are growing revenues 49% faster than those who don’t, according to research by Aberdeen. Video Advertising not only helps in generating new leads but also in increasing revenue.
Despite the constant rise of video marketing, there’s still a lot of untargeted content that event marketers struggle to gain relevance. The key to creating engaging events or campaigns is to realise the video’s capacity to connect and capture the emotion that speaks directly to your intended audience.