Video marketing has become an extremely popular way to reach an audience.
Multiple types of videos are out there—some rich with information and others discussing different products. There are explainer videos, video blogs, interviews, tutorials, product reviews, live streams, and video advertisements.
But are investors really making the desired profits?
Video marketing has been around for a while now. The ease of making videos and the rise of multiple video promoting platforms seem to have pushed the horizons for video marketing.
This article intends to provide a detailed analysis with the exact statistics that will help you understand the importance of video marketing and whether you can consider it for your own business.
Who All Are Video Marketing?
According to Wyzowl, 86% of businesses in 2021 are using videos for marketing campaigns. This number has steadily increased over the past five years. That is a great percentage with a booming majority.
Moreover, Wyzowl has also reported that of all these businesses, 93% claimed that video marketing has been a crucial part of their campaigns. Let’s also note the trends in different types of videos.
- Explainer videos (73%)
- Social media videos (67%)
- Presentation videos (51%)
- Sales videos (41%)
- Video ads (41%)
If we look at the statistics by the Content Marketing Institute, we found that 71% of B2B marketers invest in video marketing; B2C businesses comprising 66% are using it as well.
It has been understood that the number of businesses using video marketing has increased by 41% in the last five years. More than two-thirds of the industry are clearly investing in video marketing.
Video Marketing in Mobiles
Most consumers watch the content on their mobiles and smartphones. So, mobile video marketing becomes an important part of the growth of a business.
YouTube has found that over 70% of viewers on YouTube use their mobile devices. Broadband search has further added that users spend on average 40 minutes watching YouTube on their phone.
According to Wyzowl, 90% of all consumers watch all types of videos on mobile phones. 93% of all the video views on Twitter come from mobile phones. Hence, we can conclude that mobile video marketing can take you a long way.
The Relevance of Social Media
Social media sites such as Facebook, TikTok, and Instagram thrive on the widespread popularity of videos. Facebook has registered 8 billion views per day, thereby implying that the entire planet goes to Facebook once a day!
The Social Media Marketing Industry Report by the Social Media Examiner has also reported that a majority of marketers use the feature of live videos to connect with their audience.
Twitter has observed that video links are retweeted six times more than photos. YouTube has found that users upload over 500 hours of content per minute. YouTube video consumers spend 1 billion hours per day on the website.
From all this data, we can understand that Facebook, YouTube, and Instagram are one of the most used platforms and surely one of the best for marketing. Most businesses use Facebook as their major platform because of its wide reach.
Animoto has also found that 90% of brands post videos on YouTube at least once a week. Moreover, 83% of brands share videos on Instagram.
The ROI factor
While it is true that video marketing is surely on the rise, let’s find out what returns the investors are getting from it.
As per the studies of Wyzowl,
- 86% of businesses using video marketing have found increased traffic on their websites
- 84% have said that videos have helped them generate more leads
- 83% have said that videos help visitors spend more time on their pages
- and 78% have said that videos have directly increased sales.
Almost 95% of these video marketers have planned to maintain their current video production and some are even planning to increase them.
Most studies have claimed that more than 90% of video marketers are satisfied with their ROI. Hence, one can say the hype around video marketing is worth it.
Investing in video marketing has also become easier with smooth video editor tools available online and provides powerful features to boost the trend.
Effect of Videos on Consumers
While the businesses are doing great, most researchers have claimed that customers enjoy video marketing more than anything.
According to Wyzowl,
- Individuals spend 18 hours watching videos per week on average
- 96% of people have used explainer videos to know more about products
- and 84% have been convinced to buy a product by watching videos.
- When consumers were asked which medium they prefer most to learn about a product or service, 69% have said that they would prefer videos over text-based content, infographics, manuals, webinars, or sales calls.
Google has found out that YouTube reaches more adult audiences than all cable TV networks combined. Interestingly, 55% of shoppers use online videos while they are inside a store.
It should also be noted that consumers prefer short videos over lengthier ones. As per Social Media Examiner, 80% of marketers create videos with a duration of 3 minutes or less.
Vidyard’s studies have shown that the video’s time duration affects your audience. Almost 68% of the target audience will watch the entire video if it is under 1 minute, and 25% will watch it over 20 minutes.
Verizon and Publicis have said that 92% of consumers watch videos with the sound off. Hence, it is recommended that marketers run video ads with captions to complete their information.
Hereby, we can conclude that video marketing is a great strategy to expand your customer base in 2021 and beyond.
The major challenge for most start-ups and businesses is that video making is often considered too complicated. Creating an engaging video for consumers can take a certain amount of skill and expertise.
Luckily, there are plenty of video editing tools that you must try to begin with your video marketing campaigns. With the above statistics, you can be assured that it will be a smart investment.
I hope this article helped you. If you did find it useful please don’t forget to share it with your friends or family.