Leave it to a scientist to make a simple answer complicated. A picture is worth a thousand words, the old saying goes. A one-minute video, therefore, is worth 1.8 million words. So says James McQuivey, research director, PhD and vice president and research director at Forrester Research Inc., a publicly held firm based in Cambridge, Massachusetts.
How’d he come up with 1.8 million? Well, if one picture equals a thousand words and video displays an estimated 30 frames per second, 1 second of video equals 30,000 words. And 60 seconds equal 1.8 million. See how easy that was?
Here’s the money line: Nearly a fourth of consumers are more likely to make a buy after watching videos showing a product or service, according to Animoto, a cloud-based video service headquartered in New York.
Leveraging Video in Commercial Real Estate Marketing
Before dismissing McQuivey, know that he predicted the online shopping boom in 1998. He predicted, as his online bio notes, “the arrival of Amazon’s Echo platform before it existed.” McQuivey knows of what he speaks. His tongue-in-cheek video hybrid video analogy and extrapolation might sound hokey, but he has a real point: Video Marketing works.
People around the globe watch more than 1 billion hours of video daily. The medium accounts for more than 80% of global web traffic and more than 85% in the United States, according to Cisco Systems, Inc., a technology conglomerate based in San Jose, California.
Think about all the complications in properly showcasing a property to a client who’s not on site. An effective offering memorandum can help with pictures and text. But a Video OM can do so much more, taking the client on an inside walk-through or overhead for an expansive look at the site layout. Add music and words and, voila! Now, sellers can be armed with an OM that appeals visually and audibly.
Of course, the opportunities don’t end with OMs. Video marketing can be applied to every facet of commercial real estate.
Post video of available properties for sale or lease. When the video is shot by people who know how to ensure quality and professionalism, salespeople get leads they never would have otherwise. Going on a listings pitch? Imagine going armed with video that does the pitching on the company’s behalf. Making a presentation or proposal at City Hall? Video can make it all shine.
It’s not just about marketing properties or ideas. It’s also about marketing the company and those who make any company go – its people. A commercial real estate marketing video posted to a commercial real estate website can work 24/7 promoting the firm, its vision and its people.
While the platform has a proven track record, it’s also important to recognize video is like every other facet of the business. It all represents the company. A video that is sharp and professional communicates to customers that the company embodies those same traits.
Need a hand with video marketing? Give us a call or shoot us an email. We are ready to help you learn more about making your commercial real estate video marketing efforts work for you.