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Choose the Best Video Channel for Your Business

Video should be a part of your marketing strategy it if isn’t already. If you are not in it yet, how do you choose the best video channel for your business? Of those who are already using videos in their marketing strategy, 76% report that the strategy increases sales while 47% found that it decreased customer support requests. There are a few fears that can hold a business or brand back from jumping into developing video content. Fear of being on camera and the thought of high costs are the top two concerns that I hear.

In 2017, the average consumer watched over 1.5 hours of videos online each day! I can say I enjoy a daily dose of equestrian, aviation, dance, and lots of music videos but I don’t think my watch time approaches over an hour day.

Everyone knows YouTube. Of those marketers who are already using videos as part of their strategy, 87% said they are using YouTube to share content. All but 10% felt it was an effective part of their marketing and branding plan. It’s a no brainer – there are one billion YouTube users. The channel has something for everyone, regardless of ages.

YouTube is the most popular video channel for viewers and for marketers. It is a no-brainer that if you want to be produce videos that this is channel should be part of your strategy. Remember YouTube is not just a video hosting platform, it is also the second largest search engine in North American and Europe.

YouTube isn’t the only channel to consider. You’ll get more ROI out of your effort if you can share across multiple social channel, on your website, and in email campaigns. Instagram offers a number of opportunities to share video content. Depending on which part of the channel you share on – feed, stories, IGTV, or highlights, the length of the video can vary quite a bit. Even with IGTV, most videos are under 15 minutes, averaging just a few minutes in run time. More metrics are available to Instagram business accounts.

LinkedIn also allows videos now, but the adoption rate is not nearly as good as the YouTube numbers. Much of this is because of channel age. Videos are relatively new to LinkedIn compared to YouTube. Also, the business social network does not have the global reach that YouTube enjoys. Although it is has loosened up somewhat since the sale to Microsoft, its content is still almost entirely business oriented and expected to stay that way. We don’t see the satire, gaming, and how-to videos that make up much of YouTube’s watch time. That said,, about 38% of marketers who are already using video content use them on LinkedIn. That is expected to rise to about 55% by the end of 2018.

Facebook also offers a variety of video sharing options. There are paid posts and boosted posts. We can also use videos in stories – a blatant Snapchat rip-off – and of course in organic posts. Boosting an organic video post is an excellent way to gain more insights on your audience. Sixty-eight percent of video marketers have used videos on Facebook.

Surprisingly only half of those using video on Facebook have used Facebook Live. Interactive video, like those seen on Facebook and alternative platforms like Twitch, are still not as popular. Interactive videos, where the personas in the video broadcast can respond to audience input in real time, are gowning in popularity. Channels like Twitch were once a forum for mostly gamers, but the push is on to make it more educational, information, and mainstream. Facebook Live videos are considered 81% effective by those using them for marketing purposes.

The only video channel that is not growing for marketers is Snapchat. It’s just not working for the average brand. Lack of metrics contributes to this lack of adoption.

There is a still an opportunity for brands to insert their marketing messaging into videos – ether organically on their own channels, in interactive videos, or as paid advertisements. A video strategy done well, can increase revenue and decreases some costs. Videos are effective way to connect with clients and other stakeholders. They create an emotional appeal that can raise brand awareness allowing viewers to get to know you and your company.

Data Source: The State of Video Marketing in 2018 by Wyzowl

I’m proud to announce I’m now a contributor to Entrepreneur Magazine’s YouTube channel, Entrepreneur Network video channel. We kicked off the series with a fun Halloween video describing one of our worst business nightmares. In Entrepreneur Network video I talk about dependency, a risky situation a business of any size can find itself in. It’s dependency on one or two large accounts.

I’ve made this mistake in the past and found my business in dire straits. Years ago, the revenue generated by my largest account far outweighed all the others put together. My largest client was dependent on private investors and was chasing government contracts. A few years into our relationship, they were hit with the perfect storm: a recession, a copyright infringement claim, and a shift in federal funding.

It hit them hard. They had to move out of their prestigious Park Avenue office, and back into a three story walk up – right where they started five years prior! My business and employees were hurt too. That this was our largest contract, plus the recent economic downturn, made it hard to find replacement clients. I had to reinvent my business. It was not the first turnaround I had endured, but it was the most stressful, and after a year of barely getting by, I enjoyed my best years ever!

The video about my worst business nightmare is on the Entrepreneur Network YouTube channel. My own video channel is now rolled up and featured so I will be posting videos in both areas! I can’t wait to share my business experiences, including how to incorporate video into your business strategy!