Not to throw shade at Amazon CEO, Jeff Bezos, but we could have told him back in 2009 that video ads weren’t just for companies with “an unremarkable product or service.”
Clearly he checked the stats himself though because in 2019 he spent $6,879 on advertising. We’re guessing he saw that 88% of video marketers are satisfied with the ROI of their video marketing efforts on social media or that YouTube is one of the most popular sites for teens, millennials and seniors, amazing for reaching a broad audience!
Here’s a few things we’d have told him if he’d asked us to prove that video ads are worth it.
Consumers are looking more and more for videos to decide what to buy and where, whether it’s reviews on YouTube, influencers on Instagram or explainer videos embedded directly onto websites. Video is a quick, easy way to learn about a product, service or brand and decide if it’s for you.
It’s also not reserved for B2C brands, video ads are converting for B2B companies too; 59% of executives say they would rather watch a video than read texts. It’s not surprising, video can get everything across in a much shorter amount of time so for busy executives it’s bound to be preferable.
There’s a reason that 91% of video marketers consider video an important part of their marketing strategy and 84% of marketers rank video creation skills important when hiring for a new marketing position. Video is being pushed by platforms and marketers because it works.
On Amazon’s own platform during this year’s pandemic sellers have increased their ad spend. According to Feedvisor, food sellers are spending 65% more on ads, with beauty and personal care ad spend up 24%, electronics up 34% and apparel up 10%. Businesses who invest in marketing will always fare better than those who don’t.
Have you heard about native ads on social media? They’re any ad content, video included, which sit naturally in the platform it’s on. Think sponsored tweets, video ads in the Facebook feed or appearing in recommended blocks. They’re ads that blend in to the content around them, seems like a terrible idea right?
Now factor in that Facebook video engagement is higher than all other categories of post at 6.01% and you know that’s a recipe for success.
For all our Bezos mocking, in 2019 he stated that he was wrong about ads and Amazon is now one of the biggest ad spenders in the USA. He could afford to be wrong and miss out on billions of potential sales, but we’re not all Jeff Bezos.
We love creating video but we didn’t get into the business for shits and giggles, that’s just an added bonus! We know the power of video advertising, we see it demonstrated over and over again in every marketing report that comes out. Video offers things that other marketing methods simply can’t, and they’re the things that make the difference as Jeff has realised.