By Emma Fitzpatrick
Video is powerful. In fact, it’s arguably your best-performing medium. Over half of marketing professionals say video is the type of content with the best ROI, as reported by digital marketing strategist Syndacast. That’s even considering the time and resources needed to create video content.
Despite these resource requirements, video is the content that never stops working for you. On social, video generates 1200% more shares than text and images combined, according to Brightcove.
Those social views translate to visits to your bank’s website. Research by the Aberdeen Group found that marketers who use video receive 41% percent more web traffic from search than those without video.
Video gets your brand discovered, effectively communicates your message, and drives traffic. So if you haven’t already, you’ll want to think about creating and promoting video as an essential part of your bank’s marketing strategy.
YouTube – YouTube has over 1.3 billion users who watch over two billion videos each day. Monthly, there are over 900 million unique visits, resulting in more than 3.25 billion hours of watched YouTube videos.
Vimeo – On Vimeo, there are about 170 million total users. Just under 25% of those users, or 42 million, are in the United States. Each month, Vimeo receives 715 million monthly video views.
Verdict – If your bank is looking to reach a big audience, YouTube is the winner. No other platform can rival the sheer size and engagement of their audience. But, this does make it harder for your bank’s content to stand out.
YouTube – Every minute, there are over 300 hours of video uploaded to YouTube. On the homepage, trending, popular videos along with recommended videos are highlighted. While you can upload full-HD video and even 4k videos, there are no real standards as to what can be uploaded. Consequently, not all of the videos are high-quality—and many include offensive or pirated material. Often, brands struggle with excessively negative comments on their videos, prompting them to block comments altogether.
Vimeo – Vimeo is known for being the go-time platform for artists, filmmakers and other creatives. You can still upload 4k and full-HD videos. The homepage is carefully curated, and the video-upload guidelines are stricter than YouTube’s. As a result, you’ll see consistently high-quality creations. Being more community-driven, comments and feedback are generally positive and constructive. The end result is a platform that feels more like a film festival and less like a video free-for-all.
Verdict – While the technical video capabilities are the same, Vimeo cultivates a community of true film enthusiasts.
SEO and Video
YouTube – In 2006, Google bought YouTube. Now, YouTube is the world’s second biggest search engine. If you take the time to optimize your videos with keywords, videos can rank higher and be displayed as Google search results.
Vimeo – Some users have had trouble with Vimeo videos ranking on the top pages of Google. Vimeo suggests users manually submit URLs to Google using their Webmaster tool.
Verdict – If you want your video to continually drive organic traffic, YouTube is the way to go.
YouTube – YouTube Insights is pretty basic. You get access to your video’s watch time, average view duration, engagement, sources and audience demographics. Also, trying to get viewers to your website can be difficult. YouTube has aggressive ads and auto-play videos designed to keep users watching video after video.
Vimeo – If you have a Pro account, you get access to more detailed data. You can see where people drop off, which parts they skip and the segments they replay when watching your videos. Additionally, it’s easier for users to travel to your website. When you have a designated brand page, your bank’s URL and about section are always to the right of your video.
Verdict – Vimeo offers better analytics—at a price.
Is there an overall winner?
If you’re just looking at the numbers, YouTube is generally your best bet. But if your bank is targeting a specific elite audience, creating artistic, highbrow content, or really values personalization of your video channel, Vimeo may be for you.
Emma Fitzpatrick is a Seattle-based freelance writer and marketer, whose specialties include content marketing, social marketing and short, snappy writing. Pick her brain at email@example.com.
Online training in digital, mobile and social media from ABA.