The majority of today’s marketers consider digital video as a tool for branding, building awareness and developing a brand’s story. But when video marketing is well executed and connects with consumers on an emotional level, video impacts sales as well.
A study published by Sequent Partners revealed that 65% of marketers feel video is helping to drive sales. Video marketing is proven to be a more powerful media for directly impacting sales and 87% of retailers in the beauty and cosmetic space would agree.
The holiday season presents ample opportunity for marketers to drive sales. Demand is at a premium, consumers are in shopping mode and everybody wants to look their best for the party(ies).
Not only that, when marketers throw in a sale or two, shoppers go bonkers for a bargain. Black Friday and Cyber Monday saw consumers spend an all-time max over the course of the holidays sales weekend, hitting a whopping $6.6bn.
According to McKinsey & Co. 70% of shoppers set their sights on brands they know during the shopping season. The chaotic environment means consumers want a quick-hit; in, buy, out. If brands are not already in consumer thinking around the holiday season, you are missing out on huge opportunities.
Cisco predict video will account for 80 per cent of online consumer traffic by 2020. Facebook chief, Mark Zuckerberg, also expects video to be as dominant as mobile. Adobe found that $1.1bn in sales were driven by mobile during the Black Friday/Cyber Monday showcase. Video is the standout marketing tool on social media networks.
To create the biggest impact from a video marketing campaign, there are two essential characteristics that project brands into the minds of consumers;
- Targeted video campaigns
- Personalised/localised campaigns
Comprehensive targeting strategies increase audience engagement by ensuring ads are pitched in front of the right audience at the right times i.e. when they are actively searching or talking about your products. Most digital platforms enable marketers to set metrics to target demographics, consumer behaviour and relevant content.
Several studies on consumer behaviour reveal that the majority of users on Facebook, Twitter and Instagram set the location tag when searching for products and brands. This is also the case for 88 per cent of mobile users. The data shows the growing importance for retailers to connect with shoppers on a local and intimate level.
Furthermore, statistics published by Animoto reveal consumer purchasing decision are influenced by videos on social media. Now more internet users access the web with mobile devices than desktop PC’s, mobile, video and social media will become the driving force for marketers in beauty and cosmetics.
A case study performed by Eyeview revealed a video marketing campaign for a male grooming product delivered a 12% lift in total sales and a 7% lift in spending every time customers bought the marketed product.
A hair care brand performed even better, accruing $74 in sales for every 1000 impressions which resulted in a 16% lift in total sales and a 100% increase for four key retailers.There’s no question that digital video is in the spotlight right now. Statistics show audiences with an interest in beauty & cosmetics attracts around 5bn views on YouTube, with 34% of viewers searching for tutorials and 17% watching promotional ads. Brands that engage in video marketing around holiday season increase their chances of being part of the shopping conversation.