Why Businesses are Increasing Video Production in 2024

Why Businesses are Increasing Video Production in 2024

When considering video production for your business, whether it’s your initial foray or your fiftieth project, you’ll encounter a multitude of video styles to choose from. Each video production journey involves critical style decisions tailored to specific aspects of your project. However, it’s essential to recognize that not every style suits every business. A well-thought-out strategy is crucial before diving into video content creation, influencing both the development process and the platforms for sharing your videos.

Choosing the right video format, messaging approach, character design, and video length is collectively known as the “video treatment.” This process can be daunting for marketers unsure of where to begin in selecting the most fitting video style for their unique needs.

To assist, we’ve compiled insights and examples from various clients and businesses. These references are invaluable when developing a video treatment that aligns seamlessly with your marketing strategy.

In this article, we’ll highlight the top video production trends shaping business-customer interactions in 2023. But first, let’s explore why video production demand is soaring.

Why Businesses are Increasing Video Production in 2023 Businesses are turning to video as a primary tool to engage, educate, and convert prospects. In an online world brimming with distractions, video stands out as a medium to effectively capture your audience’s attention and differentiate your message from competitors.

While traditional content like white papers and long-form blog posts retains their place, the fast-paced nature of modern life means consumers have less time for extensive reading. Video offers a multisensory engagement method that is both quick and emotionally resonant. It delivers content in easily digestible segments, akin to book chapters but without the time investment of reading.

Importantly, video is a critical element of a brand’s overall marketing strategy due to its effectiveness in increasing conversions and engaging audiences through storytelling. Consumers are increasingly seeking video content, and companies are responding by investing in video due to its high value and ROI. Over 29% of businesses now view video as a crucial element of their marketing efforts.

Why is Video Marketing So Effective? Video’s effectiveness is backed by compelling statistics:

  1. High Consumer Demand for Video Content: Globally, consumers are consuming vast amounts of video content daily, with over a billion hours watched on YouTube alone. About 54% of consumers express a desire for more video content from brands they support.
  2. Increased Conversions and Revenue Through Video Marketing: Videos aren’t just popular; they’re also highly effective. They drive sales and lower customer acquisition costs in digital advertising and content marketing campaigns. Approximately 92% of consumers watch videos before making online purchases, making video an essential tool in influencing purchasing decisions.
  3. Emotional and Storytelling Power of Video: Videos allow brands to tell their stories as intended, connecting with prospects on a deeper level. This emotional connection and storytelling ability make video a powerful tool in a marketing strategy.

With this understanding, let’s dive into the top video production trends of this year.

Top Video Production Trends of 2023

  1. Remote Video Testimonials: The pandemic has reshaped interactions, leading to a rise in remotely recorded videos. More than 74% of businesses increased their video production efforts due to the pandemic, focusing on high-quality remote productions.
  2. Product Demo Videos: With the surge in online “how to” searches, companies are creating engaging product demo videos. These videos showcase product functionality and features, proving to be educational for customers and powerful marketing tools.
  3. LinkedIn Video: Over 38% of marketers are using LinkedIn for video marketing, with 75% finding it effective. Business owners and marketers are using LinkedIn to share insights and product information, engaging with a professional audience directly.
  4. Video Sequences: These are used in drip email campaigns and other marketing strategies to guide prospects through a purchasing path, providing information in a structured and engaging manner.
  5. Video Testimonials: Customer-led video testimonials are becoming increasingly important, serving as authentic endorsements of products and services. They are highly effective in converting prospects, with 89% of marketers rating them as the most effective content marketing form.
  6. Live Video: Live streaming and live capture videos are gaining popularity, offering authentic interactions and humanizing the brand. They are effective in building trust and connecting with audiences in real-time.

Conclusion As video marketing continues to evolve, incorporating these trends into your strategy is vital to engage and convert customers effectively. By adapting to the latest trends in video marketing, businesses can maintain relevance and effectively capture their target audience’s attention.

For those looking to elevate their video production, Levitate Media, recently recognized as one of the top 30 San Francisco video production companies, offers high-quality, customer-focused video services to bring your brand story to life.

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