Our very own Jack Rigby explained how creating short engaging video content could be the final ingredient to successful cost effective marketing communications within retail for Shopping Centre Magazine. Here’s the full story.
There is no denying that owned media has become a hub for shopping centre communications over the last five years. Social media channels, websites and email marketing have become many centres’ lead communication channel for disseminating information to thousands of consumers.
But millennials have had a real impact on the way we consume information, words are quickly becoming obsolete as screens dominate consumer behaviour.
By 2017 69% of what we do online will be watching video content, above shopping and banking.
Video has also taken over social media streams. Research shows 50% of people who log onto Facebook daily watch at least one video which is why on Facebook, videos are 65% more like to be seen than traditional posts thanks to its algorithms.
It goes beyond social media too, almost two thirds of people (60%) are more likely to watch a video on a website than read the text and solus emails featuring video content increase open rates by up to 20%, subsequently increasing click throughs by 65% on average and reducing unsubscribers by 26%.
Research also suggests that consumers who have watched a vdeeo which features specific product are 40% more likely to engage with the brand. All this sounds pretty concrete but video is often seen as an expensive medium for shopping centres to produce.
At Woking Shopping one of our retail clients, video has been integrated into the centre’s marketing campaigns creating its very own TV channel ‘Woking TV’ which produces up to eight mini features from around the shopping centre each month. Videos are kept short, delivered in under three minutes and capture news from around the centre, champion new products, events and key activity – all at relatively low production costs.
We produce up to eight videos each month, which includes management of production, script writing, filming with presenters and basic edit which works out as really good value for money. With basic social advertising support of around £50 per video, videos are now reaching in excess of 40,000 viewers locally.
Compare this to the local paper where a single half page advert could cost in excess of £700 for the space plus production for a similar reach, the question has to be asked where the real value for money lies these days, a short video or a print advert. Managing both, we’re leaning towards video for Woking Shopping and here’s why.
Within Woking Shopping, tenants are now really championing the initiative, many push to be featured each month and retailers such as Virgin Holidays are sighting Woking TV as one of its main referrals when asking its customers how they heard about the travel agent.
The content has multiple uses, as well as living on social media channels, it also features on the centre’s website, it can feature in email marketing increasing open rates and can be seeded out to local publications featuring on blogs and online news channels. It also has SEO ranking benefits, increasing traffic to the website and increasing both dwell time and domain authority.
So with both engaging retailers and consumers and a wealth of marketing benefits, it seems editorial video marketing shouldn’t be overlooked within any shopping centre’s marketing mix. Click here to watch Woking Shopping’s Woking TV.
Woking Shopping, Customer Experience Manager, Rowen De Grauw said: “Woking TV has been and extremely successful initiative for Woking Shopping, engaging tenants and championing their offer whilst offering the consumer engaging online content in order to bring them into centre. We see video as being an integral part of our marketing and communications strategy as it maximizes our ROI and scope to reach new audiences via targeted advertising. We will continue to develop Woking TV and other innovative marketing initiatives with Carousel in order to gain maximum return for both our retailers and the asset.”
*Statistics from various sources including Cisco trend report, inside.com, RealSEO report