There’s no denying that videos are the most powerful tool to impact the viewer’s mind. This is because the human brain processes image 60,000 times faster than textual content. As a result, numerous major brands harness video marketing’s power to make the most out of their marketing endeavors. From a marketing standpoint, they’ve positioned themselves to get the best response from their targeted audience by leveraging different types of videos, i.e., 2D animation and stop-motion. Use these different types to showcase services, products, expertise, and much more.
SMBs Can Utilize Video Marketing to Boost Their Revenue
- An average individual will spend 100 minutes of online videos every day in 2021.
- 85% of people will be looking forward to seeing more videos from their preferred brands in 2021.
- 84% of people claim that videos of brands have convinced them to buy their product or service.
The stats mentioned above clearly indicate the viability of video marketing. However, the questions that pop up in mind after reading about the advantages of video marketing are: How video marketing is being conducted to yield positive results and what type of businesses are utilizing the video marketing medium?
A popular developer of the marketing software product “Hubspot” wrote an article on video marketing. This article provides the reader with in-depth research, analysis, tips, and much more concerning video marketing. Here’s the link to the study.
HubSpot: What Marketers Should Know In 2021
The study provides a deep analysis of the video marketing statistics for marketers and SMBs. It explains how the statistics will allow the readers to understand what works in the video marketing world and how SMBs can effectively leverage it and gain maximum ROI.
Even though these statistics are meant for small business owners, it doesn’t mean they aren’t viable for B2Bs. On the contrary, the latter is empowering B2C in their endeavors and build lasting relationships with them.
The great pandemic is another factor to consider when leveraging videos to market your product or service. A staggering 91% of marketers feel that the pandemic has made the role of videos for brands more important than ever. As a result, 70% of marketers expected that their video marketing budget would likely increase in 2021. Not only that but also 68% of consumers have claimed that pandemic has a positive impact on the amount of video content watched online.
Why SMBs Are Not Investing In Video Marketing?
There are several reasons why most SMBs don’t pay much attention to video marketing. That includes insufficient internal resources or a lack of skill set to create impactful videos. For example, some SMBs focus more on creating textual content rather than video content. Or they might have a small staff and don’t have an adequate resource to create marketing videos. Additionally, it is not always costly to create marketing videos.
Some videos are not more than 20 – 30 seconds, yet they’re highly effective, educating, and engaging. In addition, these short videos usually don’t cost much compared to full-fledged advertising videos with models, effects, cameras, and much more.
Nonetheless, 93% of marketers leverage videos as a marketing tool claim videos to be an integral part of the marketing strategy. Moreover, 87% of marketers claim that videos help boost their ROI, which is a significant increase from 33% back to 2015.
Why Should You Include Videos In Your Posts?
Videos are the ideal choice for customers. Posts that include videos tend to receive 3x more engagement than posts without videos. Similarly, a website’s conversion rate with videos is at 4.8 percent, while those without videos are at 2.9 percent.
Therefore, it’s crucial to include videos in marketing strategy as they play a key role in boosting your ROI.
Even though creating one video is always better than creating none, you need to create videos regularly to attract your audience. This attraction results in engagement which later in the process translates into sales and conversions. Additionally, videos help businesses to generate leads that could convert into sales. As a matter of fact, 84% of marketers claim that videos helped them generate more leads than traditional marketing methods. Moreover, 80% of marketers claim that videos make a positive impact on boosting sales and revenue.
Moreover, it’s always better to publish videos continually and make the most out of your marketing efforts. It is recommended that you maintain a robust and active online presence by regularly posting/publishing your marketing or promotional videos. This approach is more viable as compared to posting once in six months. If you’re not maintaining an active online presence, you’re simply reminding your audience that you exist.
Suppose your potential customers are at the end of their buying journey before they’ve gotten in touch with you. They’re at this stage because they’ve already done their research on your business either by reviewing your content and finding relevant answers to their queries. However, if your audience cannot find any relevant details about your company or your services or products, they would simply move on to your competitor’s website without any delay.
Hence, having a marketing video would educate your customers about your services and are the ideal marketing tool for SMBs to attract their target audience. Videos keep the audience engaged and help them move in the right marketing direction to get visitors directed towards the conversion funnel.
Why You Should Not Be Time-Intensive While Creating Animation Videos?
Another important aspect of creating videos is that they don’t have to be time-intensive. For example, don’t rush the process of creating an animation video; instead, focus on how you can capitalize on the opportunities, target your audience more effectively, or which message would prove to be more engaging and fruitful in the long run of your video campaign.
There are several platforms available online that you can leverage to make videos within minutes. Some of these platforms are; Promo, Moovly, Animaker. You can use these platforms to create effective marketing videos.
These platforms are designed to help you get rid of the requirement of hiring a skilled video animation expert. You can seamlessly create your marketing videos through these platforms; however, one feeling of the video belonging to your brand cannot be achieved through this approach. To create a tailored marketing video that reflects your brand’s true nature and core values, you would have to create it yourself or hire an animator or a company to translate your vision or expectations into a reality.
Additionally, you can also create an animation video to thank your clients for buying your services or product. This consideration or acknowledgment can also help you in further strengthening your bond with your audience. Once you grasp the importance of animation, you’ll better understand how animated posts galvanize your social media marketing.
Video marketing will become a more crucial role for SMBs in the coming years. The viability of video marketing is robust and fully comprehendible; therefore, businesses need to adapt to the medium to stay on par with the competition and excite and impact their targeted audience.
Moreover, as a small business owner, you should understand video marketing and the channels you can cover with your video marketing efforts. By creating a strategic roadmap, capitalizing on market gaps, and creating meaningful and purpose-driven marketing videos, you can increase brand awareness, generate leads, boost conversions, and most importantly, build customer loyalty and establish a lasting relationship with them.
Image Credit: rodnae productions; pexels; thank you!
Fintech Kennek raises $12.5M seed round to digitize lending
London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.
According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.
The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:
“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”
The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:
“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”
The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.
The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.
Featured Image Credit: Photo from Kennek.io; Thank you!
Fortune 500’s race for generative AI breakthroughs
As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.
Goldman Sachs’ Cautious Approach to Implementing Generative AI
In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.
According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.
One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.
To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.
Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.
Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!
UK seizes web3 opportunity simplifying crypto regulations
As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.
Streamlining Cryptocurrency Regulations for Innovation
To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.
The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.
Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.
The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.
Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!