National newspaper THE GUARDIAN published an article that states that “Small businesses that fail to include video in their internet marketing strategies will do so at their peril“. This statement is rather harsh and I would re-phrase it to say “Small businesses that fail to include video in their internet marketing strategies will play catch-up later on”. We are entering a “video boom” and In 2014 all businesses know that they need video as a part of their marketing strategy but some are holding out until the last minute. Right now we are where we were 20 years ago when the dot com boom was about to explode. Many companies back then were saying “no, we do not need a website” but these days you are hardly in business if you don’t. The same will be true with video and this is probably what The Guardian meant by “peril”. However this is not the real danger; smart small/medium sized businesses will see this as an opportunity to overtake their competitors. The dot com boom only lasted 3 years at its peak so there was a small window of opportunity for businesses to take advantage. The same will be true for video, clever companies won’t wait for video saturation where there is no advantage to be had in a level playing field. Video gives businesses a huge advantage over their competitors so even if their campaign consists of a single “shop window style” video on their website, new customers maybe enticed more easily to walk through the door. Companies who wait and play catch-up may see their market position diminish before they establish a useful modern approach to their marketing strategies.
The video below nicely summarises the current conundrum small to mid sized businesses are facing.