Why Video Is Essential for Businesses in 2024

Video is an essential marketing and communications tool for businesses and marketers. With the increasing popularity of video content, businesses that don’t invest in video are missing out on a major opportunity to reach their target audiences. Make sure your video for business strategy remains effective.

Why Your Business Should Care About Video

In the past, businesses needed expensive cameras and video editing software to create quality videos. Fortunately, that isn’t the case anymore. User-friendly video editing tools and higher-quality smartphone cameras have made video production accessible to everyone. 

If you’re considering creating video content for yourself or your brand, now is a great time to do it. Video is a powerful tool that can help you:

• Generate leads
• Increase brand awareness
• Improve audience engagement
• Communicate more effectively 

Read on to learn more about the benefits of video for business marketing and communications and why the best time to invest is now.  

Why Is Video Important Right Now?

The number of users watching video content is estimated to reach 3.78 billion in 2024. Video viewership has grown by 25% since 2019 and isn’t slowing down anytime soon. Three key factors are driving this upward trend:

Global Shutdowns Increased Demand for Video

The COVID-19 pandemic forced people to stay at home, accelerating the adoption of video and digital communication tools. With limited in-person interactions, video provided a lifeline for businesses to connect with their audiences. Webinars, live streaming, and informational videos took off as people stuck at home turned to video for entertainment, education, and connection. 

Despite most businesses having since reopened their doors, demand for video continues to grow. Video has become a crucial part of our daily lives, creating numerous opportunities for businesses to connect with audiences online.

Advanced Technology Has Simplified Video Creation

Ever-advancing technology has democratized the world of video creation. High-quality cameras and video editing software are no longer reserved for professional filmmakers — they’re increasingly affordable and accessible. 

Most smartphone cameras can now shoot 4K or 8K video, offering a level of quality that was once unimaginable for mobile devices. Similarly, video editing software has become more user-friendly, offering intuitive interfaces and compatibility with a broader range of devices. Thanks to these advances, we’re seeing an explosion of video content across social platforms. 

And AI technology is taking this a step further. AI-assisted video platforms like Visla, D-ID, Synthesia, and Runway automates and simplifies video creation by offering AI footage recommendations, AI tagging of existing footage, and text-to-video features. Now, users can start with anything – an idea, existing footage, and more – and walk away with a polished, professional video.

Video Content Is Easily Accessible

The proliferation of smart devices and increased access to high-speed internet has made streaming videos easier and more convenient. We’re currently witnessing a shift from traditional television to streaming services and online video-sharing platforms. This shift has made video more accessible to a wider range of people, including those who need a platform to share their own videos.

5 Benefits of Video Marketing and Communications

A well-planned video strategy can help you reach your target audience in a more engaging and memorable way. While creating videos might take more time and planning than other forms of marketing, it’s worth the effort. With the right strategy, video marketing and communications will greatly improve your brand image and help facilitate internal communications. Here’s why: 

1. Video is versatile. Video content serves many purposes. Because video combines audio and visual aspects, businesses can create compelling how-tos, product demos, product reviews, educational series, and more. Video can also be used to make internal communications more personable and engaging.
2. Video promotes engagement. Audio, visual, and storytelling elements work together to captivate viewers, making video more engaging than print or images alone. Businesses can use this to their advantage to drive traffic and generate leads. 
3. Videos are highly shareable. Reports show that videos posted on LinkedIn are shared 20 times more often than any other type of content.
4. Video content is memorable. Viewers can retain 95% of a message when they watch it in a video compared to 10% when they read it in text. Businesses can increase brand awareness and customer retention by creating video ads and instructional videos. 
5. Video drives conversions. Videos are consistently effective in convincing users to perform an action or make a purchase. 84% of digital users were convinced to buy a product after watching a company’s video, and 87% of marketers say that video marketing has helped them increase sales.

Tips for Sharing Quality Videos

Creating high-quality videos is much easier than it was in the past. However, there are a few things to consider before you hit publish on your next video.  

• Set measurable goals. If you’re serious about implementing a video strategy, define specific, achievable, and relevant goals. For example, instead of saying, “I want to create more videos,” say, “I want to create five marketing videos per month that generate 100 views each.” 
• Consider your message. Before your dive into video creation, take some time to consider the message you want to convey to your audience. Are you trying to sell a product? Share a tip or trick? Asking yourself these questions will ensure your messaging is clear and your video has the intended effect. 
• Tell a story. Storytelling is inherently engaging. When you tell a story through video, you can connect with your audience on a deeper level and create a more memorable experience. 
• Strive for authenticity. When creating videos, try to present yourself as honest and relatable. Consumers are more likely to trust a product or message when they see that a brand is being genuine and transparent.

No matter where you work, video for business is essential in 2024. Video content can help you stand out from competitors, build your brand presence, and communicate more effectively.