2020 so far has been a year of revelations. What earlier were considered as luxuries or a break from the norm have now become the need of the hour.
The internet today connects more people than ever and several organizations, especially service-based ones, have benefitted hugely from tools such as video presentations and internet meetings/webinars.
In a global research survey conducted by HubSpot in 2019, businesses were asked about what the primary forms of media used within their content strategy, and below were the findings:
Grappling with the coronavirus pandemic necessitated unconventional methods of conducting day-to-day business, and this may well be the trend for the foreseeable future, if not permanently.
Tactics such as video marketing, however, made their presence felt well before the onset of the pandemic. According to HubSpot's marketing statistics for 2020, 83% of video marketers said that they have generated new leads through videos. Businesses across all industries wanted to grab the maximum amount of attention they could of existing and potential clients to showcase their talents and achievements, and to expand their business.
Ranging from consumer goods to services such as tax planning, corporate accounting, and real estate, all sectors have realized the worth of sharing their message through videos than hand out flyers or take out large ads in newspapers and glossy magazines. The charm and attraction of marketing have found a new home in videos for almost a decade now. And there are numbers to prove this from reputed sources such as Google, Cisco, and sites like HubSpot and TechCrunch.
Video Marketing and Accounting Firms
Marketing for landscaping or language coaching is quite different from marketing for accounting. The difference lies in the core values each profession has to carry. Accounting firms are bound by critical professional values such as:
c. Client Confidentiality
e. Data Storage and Processing
f. Close Relationship with Clients
g. Loyalty based on Long Term Association
h. Handling and Conveying Complex Matter to Client Regularly
Under these circumstances, it is only prudent for one to question the merits of videos for accounting firms - are they worth the costs and efforts? Even with these unique features, accounting firms have as much to gain as a business in any other industry. The key here is to customize your video marketing strategy.
Some important factors to be considered are:
1. Content Quality
Setting the right tone with your videos for current and prospective buyers is of utmost importance. You want to portray that your business is client-centric and skilled without appearing rigid or distant. Good-natured humor and positivity are some of the traits that can enhance the otherwise dry content that usually accounts for most of accounting, pun fully intended
Focus on marketing videos that resonate the most with what your business needs. If your clients consider your firm to be archaic, then use this tool to present data and communicate with them in a more technologically-advanced manner to show that you keep up with the times. If your clients are extremely sensitive about their data, then explain complex details like turnover -projections based on the last 10 quarters or merger performances in videos securely placed in virtual 'dropboxes' that only authorized people in your firm and in that of your clients can access
Investing in video marketing is like any other asset or marketing tool - you expect a handsome ROI as quickly as possible. With that in mind, your video marketing strategy should incorporate factors like accounting services in hot demand, social videos for brand imaging, calls to action, and the likelihood of your videos being shared far and wide for increased customer bases and expanded client portfolios. A little perseverance and consistency will get you going.
Top Uses of Video Marketing
Accounting firms using video marketing have been enthusiastic about the quality and quantity of leads they have received via video marketing. More importantly, this has also helped them improve their communications with existing and potential clients, in addition to being one of those marketing strategies that have unprecedented reach across states and countries. Businesses large or small, native or international, and individual entities alike can be communicated with using videos.
"Business websites that have videos stand a 53% higher chance of ranking better in search engines and this has translated into an excellent ROI, as per 52% of marketers."
Here are a few more important reasons to include videos in your marketing arsenal:
Complex Topics Simplified
Many of you would be aware of how companies create videos to explain important concepts like information and cybersecurity to their employees. What's the logic behind this? Not all employees are tech savvy but all must know the importance of such policies.
With the help of appealing photos, graphs, even numbers, and jargon become easier to understand. Similarly, videos can be used to explain clearly important things like provisioning for bad debts and depreciation of intangible assets.
These can, in fact, include real-life examples and simulations as well because these leave a lasting impact on the viewer's mind, and make it easier to grasp tough concepts in a condensed manner. Hour long calls or meetings can be eliminated with this one simple tool.
Would you rather read four gushing lines of praise of a service provider from their clients, or see someone emoting how vital the services were to their organization? Human tendency is to relate more with verbal and physical expressions of joy, satisfaction, and gratitude than reading about them anywhere because it feels more real, authentic.
Reporting and Advising
Silos of data can be presented in a video with only the pertinent details stakeholders and other executive decision-makers need to make decisions. Apart from sharing information and updates, videos are key tools to collate your data collection and analyses and communicate them with your clients.
They would be in a better position to then relate to your conclusions and advisory comments. A visual link between source of data and conclusions helps your customer better understand your perspective
Search Engine Optimisation (SEO)
Achieving top ranking in search engines is akin to being highly trustworthy these days. If your business is appearing in the top 5 search hits, then the message conveyed is that your business is popular and worth looking into, because why else would several others do so and make your content so popular?
A collation of social marketing tools across all platforms and media (blogs, posts, published reports, etc.) can be compiled into a video and available for review by someone who wants to fully know your business, evaluate how helpful and skilled you are, and assess the quality of data you share online.
Call to Action (CTA)
Good videos can be highly motivating. They compel prospective clients to know more about you by visiting your websites or give you a call. Videos can be promotional, educational, or testimonial. Their common end goal is to share your business ethics and showcase what you have to offer the public.
Simple videos on how people can plan ahead for tax deductions or why publicly listed businesses should maintain transparency with their financial statements encourage watchers to click on promotional ads, subscribe to your email newsletters, or take up on your 30-day free consultation offer because your content is fresh and vivid in their minds.
It should come as no surprise that for all these reasons, more people look for videos in company websites or become aware of the existence of several businesses simply because of popular videos on active social media platforms.
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