s social media platforms like Instagram and Tik Tok keep taking over our lives, businesses are getting savvier about using video content to hawk their wares. Why? Well, because videos are a pretty effective way to connect with potential customers, promote brand awareness, and keep those dollar (or euro) bills rolling in. In this article, I'll share why it's essential for businesses in Cyprus—no matter how big or small—to consider adding video production to their marketing budgets. I'll also provide some data and stats that'll show you just how effective video content is for businesses in Cyprus. Let’s dive in!
Marketing teams have loads of ways to grab the attention of their target audience, but video content is like the holy grail of attention-grabbing. If you produce a well-made commercial video, it has more potential to hook viewers than other traditional marketing methods. Some studies have even shown that videos are the best way to engage your audience. For example, a landing page video can boost conversion rates by as much as 80% or more.
Increased Engagement & Brand Awareness
One of the best things about a commercial video is the increased engagement it brings to your brand. With people being able to leave comments and likes, potential customers now have a way to interact with your business in ways that were impossible before. These micro-interactions create even more opportunities for your business to reel in new customers. Video content is also super-shareable, making it easy for your customers to do some of the distribution work for you as they send it to their friends and family across different platforms. Moreover, visual media has an innate ability to stir our emotions, and pulling the heart strings of your target audience can help to build brand awareness. One HubSpot study revealed that 81% of businesses used video as a marketing tool. Somewhat tellingly, 99% of those also reported that they planned to continue using video content in the future. These numbers say a lot about the importance of video in today’s marketing landscape.
Better Return on Investment
With inflation and interest rates on the rise, investing in video production in Limassol, Nicosia or any other city might just be the smartest move your business could make. Although the initial cost of producing a video can be high, the long-term benefits can far outweigh the costs. According to a recent study, video marketing generates 66% more qualified leads per year than any other form of marketing. Additionally, businesses that use video marketing grow revenue 49% faster than those that don’t.
Limassol Video Production
In the Cypriot market, commercial videos have become a go-to marketing tool for businesses. In 2019, the Cyprus Chamber of Commerce conducted a survey on the use of video content as a marketing tool, revealing that 57% of businesses in Cyprus use video content for marketing, while 43% do not. The survey also found that the most common types of commercial videos used by Cypriot businesses were explainer videos (42%), followed by product demos (33%), and customer testimonials (28%). Other types of videos included company culture videos, event videos, and animated videos.
It’s also worth noting that the survey found that those Cypriot businesses which used video content saw an increase in website traffic, brand awareness, and customer engagement. Specifically, 68% of businesses that used video content reported an increase in website traffic, while 63% reported an increase in brand awareness. Additionally, 56% of companies reported a rise in customer engagement.
Here are some mind-boggling numbers for you to digest: a staggering 70% of businesses out there that use video content have proclaimed that they have successfully accomplished their marketing goals.
Unsurprisingly, this has led to a situation where video content reigns supreme as the most popular form of content on social media platforms in Cyprus, as discovered by a survey conducted by the Cyprus Social Media Awards in 2020. Some 84% of businesses on the island have decided to use social media to promote their brands, and a whopping 56% of those companies are leveraging visual media to make their message stand out.
It's almost too good to be true, but the overwhelming evidence suggests that video content is indeed the key to unlocking the full potential of consumer engagement and realising those lofty marketing objectives. Truly, it seems that in Cyprus, video content is king. This isn't surprising when you consider that Cyprus has some of the best filming locations. Having said that, not all video content is equal, so if you are considering setting aside some of your budget for video content, be sure to look for the right production company with a strong portfolio of video work.
To put it simply, a commercial video is an essential marketing tool that businesses in Cyprus should consider investing in. With its ability to capture attention, increase engagement, improve brand awareness, offer a better ROI and reach a wider audience, this marketing tool should be in the arsenal of every company that is serious about increasing their customer base. If you have a budget for video production in Cyprus and you are looking for a videographer or film production company, you can request a quote here.