Why you need to invest in video in 2023

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Published Dec 22, 2022 | Written by Katie Hughes

Video is a powerful marketing strategy for contract manufacturers needing to grow their business. Creating engaging and impactful video and getting it found by the right people at the right time, can help you to improve brand awareness, build trust, and boost sales and revenue.

90% of manufacturing marketers reported that they used videos in the last year, according to the Content Marketing Institute (CMI). They also said it produced the best results for their content marketing.

And the trend towards video is expected to continue, with 80% reporting that they will continue to invest in video in 2023.

But why is video so effective for contract manufacturers?

Why contract manufacturers need video

Video is one of the most effective ways to communicate with prospects and build meaningful relationships. It provides content that engages, educates and increases brand visibility. It may involve a more significant investment in time and resources than written content, but video can offer a significant ROI. 

For contract manufacturers used to operating unseen, the idea of marketing can seem counter-intuitive. But the contract manufacturing marketplace is crowded, with so many companies offering similar services and capabilities, it’s often hard to tell them apart.  And it’s this lack of differentiation and brand equity that is forcing many contract manufacturers to compete on price rather than value. 

Today’s buyers rely heavily on digital information to progress across the buying journey. If you're not standing out, you'll lose out on valuable prospects.

Video can help improve brand awareness, build relationships with your ideal customers, and position you as a trusted and authentic voice in the industry - one that good-fit OEMs will want to do business with. 

The benefits of video for contract manufacturers

1. Video is engaging and impactful

Videos are a highly engaging content medium and are often more memorable than any other form of content. Research shows 95% of a message is retained when a viewer watches a video versus only 10% when reading text.

2. It's great for communicating complex information

Contract manufacturers are often tasked with communicating complex information that doesn’t always translate well in written form. Video allows you to tell a complex story in an interesting and engaging way. You can give prospects an up-close look at what you have to offer in a more immersive and interactive way than traditional text-based marketing materials.

3. It helps build trust and credibility

Video also gives you an opportunity to showcase your brand personality, which is vital when building your brand. It allows you to connect with prospects on a more personal level and share your knowledge and experience, which helps to build trust and credibility. 

4. It's highly shareable

Videos are shareable across multiple platforms such as social media sites, email campaigns and websites, which helps increase visibility and reach more people much quicker than other forms of marketing. HubSpot research shows that video is 40 times more likely to be shared on social media than any other content medium. 

When your followers share your video with others it can introduce you to new prospects, boosting your brand awareness. What’s more, when people share your video, it signals to others that you’re a credible and knowledgeable brand.

5. It can be created for every stage of the buyer's journey

Video content can be created for every stage of the buyer's journey, helping to nurture your prospects through the sales funnel. From top of the funnel educational videos to bottom of the funnel customer testimonial videos, the opportunities are endless. 

6. Your prospects are consuming video

Your prospective buyers are already in the habit of consuming video. According to the 2022 State of Marketing to Engineers report, 96% of engineers and technical buyers consume videos for work-related purposes on a weekly basis, with 53% watching one hour or more per week. The time spent watching videos appears to be growing each year, especially amongst younger generations.

7. Your competitors are doing it (or at least considering it)

If all that wasn’t enough to convince you of the benefits of video for contract manufacturing marketing, if you aren’t creating video and your competitors are, you could be losing out on valuable leads. And if the data from CMI is anything to go by, chances are your competitors are already considering it, if not using video already.

Investing in video is becoming increasingly important for contract manufacturers as it provides them with numerous advantages over traditional forms of communication and marketing techniques such as print materials or text only content.

Video allows you to connect with your customers on a deeper level while providing informative content that increases brand visibility and drives conversions at a fraction of the cost of traditional methods like print advertising.

Types of video content

Explainer videos

One example of video content created by contract manufacturers is a video that explains the benefits of their products and services to prospective customers. By doing this, they can quickly learn about your offering. Additionally, the video can be designed to showcase customer testimonials or industry reviews, further demonstrating your commitment to quality and customer satisfaction. 

Educational videos

Creating educational videos exploring topics related to your field of expertise is a good way to demonstrate thought leadership. Use your video to educate prospects and answer common questions. This could take the form of a ‘how-to’ demonstration. For instance, a team of engineers from a contract manufacturing company could create a series of tutorials on topics such as understanding complex machinery designs or improving production processes using advanced software solutions. 

By providing valuable insights into the inner workings of your industry, you can create an entirely new form of brand awareness that reaches beyond traditional marketing methods. 

Customer testimonials

Customer testimonial videos have been proven to be one of the most effective forms of marketing because they allow companies to demonstrate the positive impact their products or services have had on existing customers.

Promotional videos

Promotional videos could feature employees discussing why they chose to join your company and how working there has enhanced their professional development and growth opportunities within the industry at large. This type of content allows prospective customers a glimpse into what life is like at your company while offering an inspiring story that resonates with viewers from all walks of life. 

Promoting your video content

Once you have created your video, the next step is to promote it. Promoting your videos is an essential part of making sure that it reaches the right people and gets the most exposure possible. 

There are a variety of different channels and platforms that can be used to share your content, each with its own benefits and drawbacks.   

Your website

Your website is a good place to start. An explainer video introducing your products and services, for example, could sit on your homepage. Educational videos and customer testimonials can also be used across your site.

Social media channels

One of the most popular options for promoting videos online is social media. Platforms such as LinkedIn, Twitter, Instagram and YouTube offer an effective way to reach out to prospects while also boosting visibility for your business. 

When using social media to promote videos it's important to focus on creating strong visuals that will draw viewers in, as well as catchy titles and descriptions that accurately convey what the video is about. Additionally, be sure to include relevant hashtags so that users can quickly find related content.

Blogging and other forms of content marketing

Another great way to promote videos is through blogging or other forms of content marketing. This type of promotion involves leveraging written content such as blog posts in order to generate interest in a specific topic or product. Content marketing can be used in conjunction with video promotion by including links to your clips within relevant posts - this way viewers are given the opportunity to watch the video after reading more information about its contents.

Email 

Email marketing can also play an important role in promoting videos online. This involves sending out emails containing links or previews of your clips directly to prospects and customers who may be interested in viewing them - this allows you to send targeted messages directly into inboxes while also increasing brand awareness among current subscribers over time

Digital advertising

Finally, there are a number of other digital advertising options which can be used such as pay-per-click (PPC) ads, display ads and retargeting campaigns. These strategies involve paying for ads on various websites or platforms in order to increase visibility for certain products or services. When done correctly PPC campaigns can yield great results, but it's important that you understand how each platform works before investing any money into them. 

By utilising these different methods for promoting your videos, you can boost your visibility while connecting with potential customers in meaningful ways over time.

Summary

Video provides an opportunity for contract manufacturers to engage with potential customers in an engaging and impactful way. It can help you stand out from your competitors by providing unique insight into your products and services, and what it's like to do business with you.

Promoting your videos on your website and social media channels is vital for increasing views and connecting with prospects. In doing so, you can maximise the reach of your videos while making sure they reach the right people at the right time in the buyer’s journey.

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Published by Katie Hughes December 22, 2022
Katie Hughes