People like videos; they always have and they always will. Online video exploded around the so called "YouTube phenomenon" and now over 2 billion videos are viewed every day on YouTube with 24 hours of video uploaded to the site every minute.

But YouTube is just full of cats and people falling over right – what does this have to do with video marketing?

The boom in online video attributed to sites like YouTube has shifted how we view videos and how we absorb information online. People watch more video online than they do television and the growth in popularity in online videos is great for internet marketers.

Whilst video has been around for a long time only recently are businesses recognising the use of online video as an effective marketing tool. Nothing can get you the same exposure and global reach for such a low cost than a successful viral marketing campaign.

But just why has video marketing become such a hit?

1. People like to watch videos

Simply put, people prefer watching videos than reading text. Videos convey emotion, movement and sound making it a far more engaging and dynamic medium than traditional text adverts or article marketing. See for yourself.

2. A LOT of people like to watch videos online

100 million people a day watch video online. And they are not all just watching silly cat videos. 75% of business executives say they watch work related business videos at least once a week.

3. Videos get to the point

Videos can convey far more information in a short space of time – a trait attractive to the notoriously impatient online surfer. Research from data company Forrester in 2011 concluded that 1 minute of video is the equivalent to 1.8 million words. That’s about 3600 web pages. Would you rather watch 1 minute of video or read 3600 web pages? Exactly!

4. Videos are Cheap

As above! In comparison to traditional advertising, online video

marketing is very cheap. People are often scared away from online video believing you need Spielberg production levels and a Warner Bros budget. This is not the case at all. If the message is correct than the video will work.

5. Google Loves Video

Google is increasingly moving towards blended search results, incorporating relevant images and videos in to the first page of its search results. While this increases competition for fewer traditional organic search results it has enabled videos and sites with video to more easily gain a first page ranking. Research has found videos are 53 times more likely to receive a first page ranking than web pages.

6. Online Shoppers Love Video

Online video marketing is perfect for ecommerce sites and online retailers. A major bug bear with online shopping is that you often can’t see the actual product before you’ve bought it.

Providing a product video on your site allows your customers to see exactly what they can buy and how it works, in just a few minutes. The customer is able to better engage with the product, see the benefits the product will bring to them, and ultimately be more likely to purchase it. Customers were found to be up to 85% more likely to purchase after watching a product video. Customers also stay on site an average of 2 minutes longer when engaged in video. Even offline retailers saw improvements, with a 6% increase in in-store sales for retailers with an online video.

7. The Power of Sharing

Marketing is all about reaching an audience, and the internet has given everyone access to a global audience – all interconnected. This is perfect for internet marketers due to the power of "sharing". The boom in social media and online communities like Reddit have created a culture of online sharing where select media can be spread across the world very easily and very, very quickly. What better way to promote and spread a message than get your customers to do it for you?

The growth in online marketing represents a major market opportunity. The world is online and most of us are viewing videos. Video marketing is not just for retailers and ecommerce sites either but anyone with a message to convey. Online videos offer greater engagement and interactivity to a wider audience at a lower cost compared to traditional advertising.

Why are you not using it yet?