How to Harness the Power of Video to Propel Business Growth

The age of digitalization calls for businesses to be more innovative in their strategies, and video content has emerged as a powerful tool in this revolution. For businesses that want to expand their reach, increase brand visibility, and promote greater internal efficiency, learning to master video is the next step.
Business Growth

The Role of Video in Business Growth

The world has become increasingly digital over the past 75 years (with an exponential increase over the past five years). For businesses, it’s no longer a medium that you can ignore or pretend is only suited for massive Fortune 500 organizations with large budgets. Any (and every) business needs to embrace video to experience true growth. This includes both internal and external purposes.

The numbers speak for themselves. It doesn’t take much research or digging to see that more than 82 percent of all internet traffic comes from video content. And then there’s the HubSpot statistic that says 72 percent of customers would rather learn about your business and its products through video.

Not only are people more attracted and engaged by video – they remember more of it! People retain over 95 percent of a message when they watch it versus just 10 percent when they read it.

If you aren’t careful, all of these numbers can blend together and make your eyes glaze over. But if you spend time attempting to understand the data, you’ll realize that video isn’t just the way of the future – it’s the way of the present…right now!

Leveraging Video for External Business Purposes

Video quite literally has thousands of use cases as a marketing, branding, and lead generation tool. The challenge isn’t figuring out how you can use video in these capacities – it’s narrowing down your focus and deciding which approaches to focus your time, money, and energy on.

If your goal is to grow your brand and build trust with your audience, consider using video to make your brand more relatable and authentic. (Video allows brands to show their human side, creating a more authentic and relatable image. Behind-the-scenes videos, for example, give customers a glimpse into the company's culture, values, and people. This not only humanizes the brand but also builds trust and loyalty among consumers.)

If it’s direct lead generation you’re aiming for, social media is an excellent place to develop ads that feed your funnels. TikTok, YouTube, and Instagram are particularly hot at the moment.

When producing video ads, the current trend favors organic content (rather than over-produced and heavily-edited videos with lots of graphics). Simple selfie-style video content comes across as more natural and, therefore, more believable.

Finally, don’t underestimate the value of video testimonials. Video testimonials and reviews bring credibility to your brand. They act as social proof that your product or service delivers on its promises. Videos of real customers talking about their experiences are more engaging and convincing than written testimonials, as they allow viewers to see genuine reactions and emotions.

Getting customers to submit video testimonials is a challenge that a lot of businesses struggle with. However, it’s not as challenging as you might think (as long as you have the right process in place).

The key is to make it very easy for customers to leave their feedback. If you run an in-person or face-to-face business where you actually see your customers, you’re at an advantage. You can simply wait until a customer has had a good experience or purchase and then ask them for a quick 30- to 60-second video. Simply use your phone and give them a basic script (while allowing them the freedom to customize the script with a few sentences specific to their situation and experience).

If you run an online business, it’s not quite as easy. However, it is possible to grab several testimonials per week simply by asking. Send outreach emails with clear instructions on exactly what they have to do. And if your industry allows for it, offer incentives in exchange for leaving a review.

Leveraging Video for Internal Business Purposes

While video marketing is the sexiest way to use video – producing tangible results that are often noticeable right away – it’s not the only application. Many organizations find success leveraging video internally to improve efficiency, build culture, and enhance the bottom line.

Take video conferencing and virtual meetings as examples. As businesses become more global and flexible, maintaining clear and effective communication becomes crucial. Video conferencing and virtual meetings offer a solution by enabling real-time face-to-face interaction regardless of geographical location. They foster better understanding and collaboration, improve productivity, and can significantly reduce travel costs.

Then there’s training and development. Video tools can be used to train employees, observe employees, and create internal video resources that are leveraged for education and development.

Take the VALT software by Intelligent Video Solutions as an example. As they explain, “Powerful and intuitive, it can be tailored to each organization, regardless of size or industry. VALT empowers programs – including clinical skills training, nursing education and police departments – to use video more effectively.”

Large companies have been using video for employee training for a while now. Companies like IBM have successfully used video for training. IBM’s video-based learning solution reportedly saved the company over $200 million. Another example is Taco Bell, which used video to train employees on new menu items, leading to a smoother rollout and better customer service.

Then there’s live streaming for events and announcements. Whether it’s an internal event, town hall, or meeting for a virtual team spread across multiple locations, video makes it easy for everyone to be present in real-time. It also promotes transparency and helps strengthen the company’s culture.

To make live streaming effective, ensure that the streaming technology is reliable and the internet connection is robust. Inform employees in advance about the event, and provide a platform for them to ask questions or give feedback during the live stream. Recording and archiving these sessions for later viewing can also be beneficial.

Finally, video is highly effective in the realm of recruiting and onboarding. Your company can use it to showcase your workplace culture and paint a picture of a team that’s engaged and inviting. This can help you attract better talent, even if you’re running a remote team. (You can also use it to give virtual office tours, even when the applicant can’t make it into the physical business.)

In terms of onboarding, video is a natural fit here, as well. A simple welcome video from the CEO or some other high-level employee in the organization is a great way to make new hires feel comfortable and welcome. Then there’s the role of instructional videos for company policies and processes.

Making the Most Out of Business

Video is no longer reserved for companies with massive budgets and huge marketing teams. Thanks to growth in technology and the power of economies of scale, video is accessible to any business – including small businesses and startups that have yet to bring in their first dollar of revenue. The only question is, how will your business use it?

Once you figure out the answer to that question, you’ll discover thousands of new doors that are open to your brand. It’s an exciting time to be in business – make sure you’re maximizing the tools you have available at your disposal!