How video marketing play vital role in 2021
It’s not too hard to see why video is so popular these days -- for one thing, it’s an easy-to-digest format that gives our eyes a rest from the overabundance of textual information online.
Are you wondering whether it’s worth investing more in video marketing? In this article, we’ll share some key video marketing statistics that prove that now’s the right time to make your first marketing video.
We’ll also highlight some of the benefits of video marketing and current and future video trends. By the end, not only will you understand the numbers behind the online video market, but you’ll have a pretty good idea where to focus your efforts.
Before we dive into the stats, let’s take a quick look at some of the types of video you can create to market your business. One of the most common is the explainer video, which is a short video explaining your products or services. You’ll often see explainer videos on the home page of a website, or on a product or landing page.
Other types of video content marketing include:
- Vlogs (video blogs)
- Video interviews
- Tutorial videos
- Videos of presentations
- Product demos and reviews
- Video testimonials
- Recordings of live streams
- Video ads
Now, let’s get to the data on video marketing. We’ve focused on the latest stats, published in the last year or so to keep your video marketing strategy up to the minute.
Who’s Using Video Marketing
Another issue is how widespread video marketing is. These video marketing statistics suggest a lot of people are using it. Wyzowl says 85% of businesses use video as a marketing tool.
According to Animoto, that number is even higher with 96% of marketers having placed ad spend on video.
The Content Marketing Institute’s findings are similar. Both its B2B and B2C research for 2020 show that:
- 71% of B2B marketers use video marketing.
- 66% of B2C marketers use video marketing.
Impact reports similar findings. Research conducted by BreadNBeyond shows that 81% of businesses use video in their marketing strategy. And Social Media Examiner’s Social Media Marketing Industry Report shows that 57% of marketers used live video in 2019!
Consumers and Online Video
So, how do consumers respond to video marketing? The online video stats show that they love it. Wyzowl’s research shows that people watch an average of 16 hours of online video per week. And, 84% of people say they’ve been convinced to buy a product or service by watching a brand’s video.
According to Google, YouTube reaches more 18- to 49-year olds in an average week than all cable TV networks combined.
Google adds that watch time for shopping-related videos on YouTube grew in the U.S. by more than 5X over the past 2 years.
Video’s also an important part of the shopping experience:
- More than 55% of shoppers use online video while actually shopping in a store, says Google.
- Wyzowl says that 66% of consumers prefer watching a video to reading about a product.
- And Hubspot says that 54% of consumers want to see more video content this year.
However, it’s important to get the tone right. In 2017, Wyzowl reported that 75% of consumers decided not to buy a product because the video voiceover annoyed them. An informal and chatty tone is preferred by 83% of consumers.
Length matters, too, in video marketing. According to Social Media Examiner, 80% of marketers are creating videos that are 3 minutes or less.
Vidyard’s research shows that the average retention rate for videos across the board is 52%, but the amount of time people will spend watching your videos depends on how long they are. About 68% of people will watch a business video all the way through if it’s under 1 minute. Over 20 minutes? You’re going to reach only 25% of people.
If you’re running video ads, a word of caution. According to research by Verizon and Publicis, 92% of consumers view videos with the sound off. The solution? Use captions. This same report found that 50% of consumers rely on captions because they keep the sound off.
Mobile Video Marketing
Mobile marketing is vital to your business’s growth, and that’s obvious when you look at the research for mobile video marketing. According to IAB, ad spend in digital video continues to increase with marketers increasing the digital video budgets by 25% year over year.
Consumers love watching video on their mobile devices:
- According to YouTube, more than 70% of all YouTube video consumption is via mobile devices.
- Broadbandsearch says users spend 40 minutes a day, on average, watching YouTube on mobile devices.
- Wyzowl says 90% of consumers watch videos on their mobile devices.
- And 93% of Twitter video views happen on mobile.
There is a challenge, though. According to Impact, marketers believe that video is too time-consuming and complicated to produce. It doesn’t have to be, though. There are video editing tools that make creating video content super easy.
Plus, consumers want chatty and informal, remember? You don’t have to be George Lucas to produce an engaging video that will thrill your target audience.