Why video is the greatest growth hack right now?

“The play button is the most compelling call-to-action on the web.”
  – Michael Litt 

Ever since the advent of social media, the way we create and consume content has undergone constant evolution. When it comes to content, we all know that images and videos are the stars of the show. It has been proven that visual content is 50 times more likely to be shared than text-based content.

Visual media, especially videos, have become a crucial part of the metaphorical weapon artillery in advertising warfare. According to Digital Marketing Experts, a video is a phenomenal tool to hook your audience and increase engagement.

Image Vs. Video

Another debate that ensues while discussing visual media is which one is more effective? What drives more engagement images or videos?

A video can hold the attention of a viewer much longer than an image. According to Wordstream, 45% of people watch more than an hour of videos on Facebook or YouTube in a week. As we are increasingly becoming a video-consuming society, the divide in engagement and ROI on video-based ads compared to image ads will continue to increase.

However, people still favor images over videos, as the latter take longer to create. Video making is a long and strenuous process, and hence, most marketers and creators prefer image content as it is quicker. So it’s not only about the engagement rates but also about the time and money it takes to create the kind of content one wants.

Now that we have seen both sides of the long-standing debate, let’s talk about why video is the latest growth hack.

What is growth hacking?

Before we go deeper into why video is the latest and most helpful growth hack, let’s understand what a growth hack is? Simply put, growth hacking is a set of low-cost strategies that help businesses grow and acquire a more extensive customer base.

Growth hackers can employ four basic growth strategies to expand your business: market penetration, product development, market expansion, and diversification. It starts right at the early product development stages and continues even after the product has been launched. Be it guerilla marketing, UX, search engine optimization (SEO), or email marketing, growth hacking uses it all. Budgets and timelines don’t limit growth hacking. The only true goal is to take the products and brands to the next level. It also involves creating a solid and active presence on social media to engage with your target audience where they are the most engaged. The customer acquisition strategy in growth hacking involves SEO and content marketing. In addition, A/B testing of landing pages. (Source: farshore.com)

Reasons why video is the most significant growth hack right now

Today, video content is everywhere. There is no denying the fact that in one way or another, at the moment, video is dominating the market. We talked above about how videos are expensive to create. Still, with the growing technology and new features of short video apps like youtube shorts, Rizzle, Moj, and such, it is becoming more accessible and easier to create without any professional equipment.

Let’s talk about some of the reasons why video is the greatest growth hack right now.

  1. Authenticity: Videos are personal. You are not posing. But you are constantly moving, which makes it more realistic. You can be yourself. You don’t spend as much time editing and filtering it for social media. It’s the easiest way to communicate with your audience, especially Insta lives. Live video streaming has been a game-changer in this situationship.
  2. Longer Shelf life: A video has a longer shelf life as it can be watched multiple times, yet an element of surprise remains. They are more memorable when compared to other forms of media. Video stays in the digital ecosystem for longer, as it drives more engagement, likes, and shares. Also, the shareability factor of videos across platforms increases their life cycle.
  3. Gen Z special: Videos are the key to Gen Zers hearts. We all know that Facebook is now the kingdom of the old. Gen Z has moved on to platforms like TikTok, Rizzle, Snapchat, YouTube, etc. According to a survey by Business Insider (granted, of just 1,884 people in the US between the ages of 13 and 21), 65% of young people check Instagram every day, while 62% are daily YouTube users. A mere 34% were on Facebook daily and just 23% on Twitter. According to a study they conducted, the business website, The Manifest, reported that 89% of Gen Zers use YouTube, and 74% use Instagram every week.
  4. Sales: We all know the famous quote that “ A picture tells a thousand words,” similarly a video tells a million words. A video is one of the best marketing tools known to us. Many marketing agencies and teams across the globe have said that video drove 90% of their sales. Video allows brands and small business owners to showcase their product in a much more effective way which is impossible to achieve via a single image. The best part is now, with the development of apps like Rizzle and the increase in the demand for short videos, video making is much more cost-effective. You get more sales with minimal spending. Videos allow the audience to retain 95% of the information.
  5. Multi-purpose and more memorable: We discussed longer shelf life as one of the points before. Similarly, videos can be multi-purposed from a sales pitch to a meme, a message, a warning, or literary anything, depending on its context. A single video can be multi-purposed into hundred other things. Also, old videos from shows, videos, or apps allow the audience to remember them, which makes them unforgettable, increasing their viewership and sales. The best example of this is the show Friends. Their content is used for memes, merchandise, video messages, and much more long after the show’s finale.
  6. Popularity: No matter what the platform is, it includes video. They may or may not allow images, but they always allow video sharing. Consumption patterns of viewers turned upside down significantly during the pandemic. Cisco predicted that by the year 2020, 82% of content will be video. Also, it’s the well-established players like Tik Tok and Instagram seeing traction and new apps like Rizzle, moj and josh, and many other new players in the short video market. 

The reasons mentioned earlier prove why video is the greatest asset in growth hacking right now! So, what are you waiting for? Go and create videos and make your brand grow! For excellent and unique templates, you can download Rizzle here!

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