It’s no secret that video marketing has become a hot new trend over the last couple years, and this year, we will only see its continued adoption among pharma marketers. Video marketing is a key marketing strategy that, if used right, has the ability to attract new customers, build brand trust, and ultimately, drive conversions. With that said, what are trends in video that we can expect in 2021 and beyond?
The Rise of Video and 5G in Pharma Marketing
In 2021, digital spending will increase among the pharma industry as it continues to catch up to the digital spending of other industries, with a portion of this increased spend allocated to video. Also this year, the rise of 5G will allow for greater streaming bandwidth with faster speed and higher quality than ever before.
The implementation of video in pharma digital marketing is creating a more competitive landscape as a growing number of pharma companies will want to incorporate more video to engage their health-conscious audiences. According to a stat from HubSpot, 93% of marketers who use video say it is an important part of their marketing strategy which is big, as it is the highest percentage of any year since 2015.
Data around consumer behaviors makes video marketing a must-have for pharma marketers. According to HubSpot, 54 percent of consumers prefer video marketing from brands that they like, while BlueNovius reports that physicians spend 88 percent more time on websites with videos than text. Furthermore, when content is in the form of video, 95 percent of the message is retained by viewers whereas in text form, only 10 percent is retained.
Testimonials are Crucial in Video
What makes a testimonial in video stronger than any other media? A couple reasons. One, the use of a real individual speaking highly of a product or service will increase the engagement and credibility of a brand than a regular explainer video. Backed by a stat from Big Commerce, 72 percent of consumers say positive testimonials and reviews increase trust in a business, while 88 percent of consumers say reviews are heavily involved in online purchasing decisions, according to Vendasta.
Correctly Identifying Audience Demographics
Think only Millennials and Gen Z-ers are using YouTube? Actually, according to 99 Firms, Baby Boomers ad Gen X-ers are the fastest growing user segment on YouTube, with 73 percent of U.S. adults aged 36 to 45, 70 percent of U.S. adults aged 46 to 55, and 67 percent of U.S. adults aged 56+ using the platform. This gives pharma a huge opportunity to leverage this area as these demographics are very likely to be interested in content that not only concerns their health, but also the health of their children and grandchildren.
Pharma’s Changed Onboarding Process Amid COVID-19 – Where Video Play a Role
Before the COVID-19 pandemic struck, much, if not all, of training for new and existing employees occurred in the office. With the shift to virtual came a shift in how employees learned on-the-job responsibilities. Much like what has been mentioned in this article, video works very much the same for effective training courses – grabs attention and increases retention rates.
Want to see how eHealth Videos can help you reach your target audience, watch this video to learn more.