Video marketing has not had a bad day as of yet. 2020 was a year where video became much more popular as a channel. Most of us have been spending a lot more time online and this time has been spent watching a lot of videos.
Videos are popular the world over, and beyond just YouTube, the other social media platforms are also seeing a surge in video content as well as engagement numbers. More platforms focus decision-making on video content like TikTok that is making waves.
The good news is that videos are not just popular as entertainment. Videos are quickly becoming the marketer’s go-to tool too. Don’t believe me. These 7 powerful video marketing statistics will convince you.
1. Consumption is on the rise
96% of internet users said that they Increased their video consumption in 2020. This is a significant number, and not very surprising. Cisco estimates that 82% of all internet traffic will be due to videos.
People on average sent up to 100 minutes a day watching online videos too. For video marketers, the writing on the wall is clear. People are watching more videos and perhaps video is taking over a lot of other channels.
2. 86% of businesses use video as a marketing tool
The number of businesses using video marketing is on the rise too. This number is up from 61% in 2016. This is a ringing endorsement of the popularity of videos as a tool. The businesses who use it are pretty happy too. 93% of marketers who use video say that it’s an important part of their marketing strategy. 99% also say they are planning to continue with their efforts.
Most marketers are also seeing that there is increased competition in the space from other businesses also making videos. Videos are also finding use in most aspects of consumer communication. Videos are being used on landing pages to increase conversions, as explainer videos, webinars, courses, and also for customer support.
It also helps that making videos has become much simpler these days. There are multiple tools available online that ensures that making videos is not as painful as before. 49% of marketers use easy online tools, and 38% of marketers use smartphone apps to create videos.
3. 78% of video marketers say video has directly helped increase sales.
Not having enough clarity on ROI on video was one of the major issues that kept marketers from video. But lately, marketers have been enjoying some great success with videos. Videos are directly impacting the revenue. It is perhaps this aspect why 88% of marketers are also willing to invest more dollars into video marketing in the coming year.
Video marketing also has one of the highest ROIs. 68% of marketers say video has a better return on investment than Google Ads. This is driving more marketers to create videos for their businesses.
4. Youtube remains top!
87% of marketers have used YouTube for their video marketing in the past year. YouTube continues to be the top destination for brands and marketers when it comes to videos.
YouTube is also the consumer favorite when it comes to videos. 83% of consumers worldwide prefer YouTube to watch video content. Youtube also caters to the maximum search results that originate from google for videos.
Uses on YouTube mobile pay 2X more attention, as compared to watching television. These engagement rates are not easily found on other platforms. 68% of YouTube users relied on YouTube for help in their purchase decision
Facebook comes in second in terms of the popular destinations for video marketers with 70% of marketers relying on Facebook Video. LinkedIn Video is also on the rise, especially for B2B content.
5. 84% say that they’ve been convinced to buy a product or service by watching a brand’s video.
The video craze is also finding its way into the decision making process of the consumers. We are likely to watch multiple videos and do thorough research before making a purchase.
When asked about what their preferred way was to learn about a product or service, 69% said they would prefer short videos for this. Video is already the preferred mode of content consumption when it comes to learning about a product.
6. 54% of people want to see more video content from marketers
Consumers are also demanding more videos from brands. Videos are critical in their decision making process, and it is almost criminal to not have videos that talk about your product on your website and other channels.
As in any content marketing effort, it would be wise to also include good content videos that solve the user’s problems into the mix so that you keep up the engagement.
7. Webinars win big
With virtual events and sessions thrown into the limelight due to the pandemic-related disruptions, webinars are the one channel that stood out in 2020.
62% of marketers use webinars in 2020, up from just 46% in 2019. 91% of webinar marketers say they’ve been a success.
The more focused and longer engagement, interactivity, and content-led approach made webinars popular. With remote work being the default, webinars also became a major source of learning for a lot of consumers and professionals.
Videos rule the world of the internet. In the age of Netflix binge-watching and TikTok, videos have become a highly adaptable channel that delivers great ROI for brands. It also helps that the barrier to entry for creating videos has come down dramatically. Anyone with a smartphone can create videos today.
Video consumption is clearly on the rise and it is also the preferred channel for content consumption. Marketers are also betting on video content significantly. It helps to know that the ROI on videos is superior to the other content channels available.
Video marketing is growing from strength to strength. With consumer preferences strongly in favor, we are only likely to see more brands and businesses using video in their marketing. Interactivity and other innovations that are likely to arrive will only increase the popularity and power of video marketing.
Guest Blogger :
Robb Fahrion is a Co-Founder and Partner of Flying V Group. He is passionate about helping businesses grow using the power of the internet. Robb graduated from Chapman University in Orange, CA and currently resides in Costa Mesa, CA. Robb enjoys writing about digital marketing, helping his clients turn their dreams into reality, and he is a HUGE Mike Trout fan.
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