The Rise of Video
Since YouTube launched its service in 2005, the growth of online video streaming has been astronomical. The availability of mobile devices and high-speed internet service have no doubt been significant contributors to this trend. Likewise, the advent of the 5G cellular network will soon make crystal clear 4K video available to millions of mobile data users. Now that video streaming accounts for over 80% of all web traffic, it is hard to oversell the value of video in digital marketing in 2020.
Video advertising is remarkably more effective than any other form of advertising.
A study by Diode Digital found that video promotion is 600% more effective than print or direct mail combined.
Videos embedded in marketing emails increase click rates by 300% (HubSpot Research).
Social media shares are 1200% higher for video than text and images combined (Simply Measured).
Nearly 90% of marketers use video and more than half consider video to be their marketing tool with the highest ROI. Studies have shown that consumers that video advertising leads to the highest conversion rate (from site visitors to paying customers) and generates the highest rate of recall with as many as 80% of video ad viewers recalling the ad 30 days later (HubSpot Research).
However, not all videos are equally engaging. Videos with professional production quality and the right length are important as well. One-third of viewers are lost at 30 seconds, one-half at a minute, and almost two-thirds at two minutes (Visible Measures). As it pertains to real estate video marketing, it is important to show the best features of a property early in the video, and keep the video under two minutes in length.
There is Untapped Demand for Real Estate Video Marketing
The National Association of Realtors (NAR) Research Group studied home seller interest in video and found that 73% of home sellers would choose a real estate agent who could market their property with video, yet despite this, only 9% of real estate agents use video. That is a demand-supply gap of 64%!
In a separate study by the NAR Research Group, they also found that 29% of real estate agents hire a professional to operate a drone for their business, and another 14% are planning to do so in the future. While it is currently on the rise, that is still the minority of real estate agents who are incorporating aerial media into their marketing plan. Meanwhile, in a study by SoldByAir, a whopping 83% of home sellers prefer to hire a realtor who uses drones - a demand-supply gap of 54%. Furthermore, they also found that agents that use drones in their marketing have a sales volume that is 3.5x the average.
Aerial and video marketing are in ever-increasing demand, yet it they do not have a strong presence in most agents marketing strategies. Though incorporating aerial and video media into a real estate marketing plan adds cost, it is proven to add volume as well. At the end of the day, the real estate agent with the most listings sells the most homes.
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