Today’s internet users are overwhelmingly spending more and more time watching videos. Think about it. Everyday people are interacting with and watching everything from short clips while scrolling Facebook to longer videos on Youtube, training videos at work, and everything in between. And that behavior is only becoming more common. Currently, 55% of people watch videos online every day and video represents nearly 75% of all internet traffic.
In the relatively short time online videos have been around, it’s grown to the point where more video content is uploaded in 30 days than the major U.S. television networks have created in 30 years. As digital video continues to grow, marketing experts are increasingly taking notice. So much so that 87 percent of online marketers are already finding ways to use video content. And multifamily marketing professionals better take notice.
For home buyers and renters, video is no longer a nice to have, it’s a must have. Live streaming and video services don’t just ‘sort of matter’ to today’s market – they are critical for success. So, let’s take a closer look at why people need to pay attention to video and how this new “fad” is here to stay.
Video is the future
Video is far from a fad and is only increasing its footprint around the world – including within the multifamily sector. Cisco recently reported that a million minutes, or almost 17,000 hours of video content will cross the internet each and every second by 2021. Consider that in the time it takes you to read this article, millions upon millions of minutes of video are being uploaded to the internet. Those numbers make sense when you think about both consumers and corporations that continue to connect with their only audiences more and more each day through video.
Video isn’t just the future – it’s the now
While it’s fun to look to forward and dream about what video in real estate marketing can bring, today’s buyers and renters are already depending on video as part of their shopping process. 85 percent of buyers and renters today want to work with someone who has video marketing and that number is only increasing. On top of that, today’s marketers who use video have grown their revenue 49 percent faster than those not using video. With those sorts of numbers, leasing agents and multifamily professionals can’t afford to not break out the camera.
Video is real
While video in general is beneficial in today’s market, most buyers and renters are looking for genuine, transparent, real video. Whether that’s from live streaming or less “produced” video options, video needs to showcase the property in all it’s good and bad light. No on likes unwelcome surprises – knowing that closet space is a potential issue is one thing. Being surprised and complete caught off guard by a tiny closet is another. And that real trend is only growing. Of the 80 percent of internet traffic that will be video in the coming years, 13 percent of it will be live streaming. Live streaming is inherently real – it is showing a space as it stands in that point in time, no editing, no photoshop.
Video combats barriers
Many marketing tactics can be expensive. SEM, paid social and ad buys – they can all have extremely high dollar amounts assigned to them. Video, on the other hand, can be a cheaper way to get a community in front of the right people. Many videos can be shot on smartphones and uploaded quickly or shot and uploaded in the native social media platform even. Plus, today’s smartphone video technology is only getting better and easier to use. A lower cost barrier and a higher quality of product? That’s a win all around.
Video makes it interactive
Imagine being able to take a live tour of a property with a leasing agent, asking the questions most critical to you and seeing what is most important. Oh…and doing it all from the comfort of your couch at home. Then have the tour available to pull up later to review with your significant other. Video allows for all this to happen…today. The benefits of an actual in-person tour can and are being replicated with live video tours – and today’s property shopper wants those conveniences. Do things their way, on their time and you’ll see the results.
Diode Digital recently found that online video is a 600% more effective marketing tool than print and direct mail combined. Think about how much today’s multifamily players are spending on print and direct mail. Really think about it. The billboards, the flyers, the mailers, the take home packets, etc.
It’s a lot!
And then there’s video. Video is less expensive and more impactful. Plain and simple. Plus, with the right partner for your video strategy, getting the word out and showcasing your community will require less effort for your marketing teams as well. Video adds the potential for virality online and social sharing amongst peers, friends, and people’s networks. Video can and is reshaping the global real estate industry and multifamily in particular. With all of those benefits for multifamily professionals and consumers alike, it’s no wonder video marketing is not just here, it’s dominating the market.
Have thoughts or questions about anything you read above? We’re here to help!
Until next time…keep it real!