Ever since video marketing entered into inbound marketing more prominently in recent years, it hasn’t shown any signs of slowing down. As per video marketing statistics, the video will be a great way to grow your network and customer base, not just this year, but in the future as well.
A majority of the companies now include video marketing as a vital aspect of their marketing strategies. Whether it is for promoting new services, disseminating information about how to use a product, online education or increasing sales figures, video marketing for business growth has come up in a huge way and is expected to alter the way business houses get in touch or communicate with their prospective consumers.
At present, video marketing is the medium of choice for marketers seeking to distribute content and increase engagement and consumers.
What Do the Video Statistics Show?
- According to Wyzowl, 70% of consumers say that they have shared a brand’s video and 72% of businesses say the video has improved their conversion rate.
- As per Invodo, 52% of consumers say that watching product videos make them more confident while making online purchase decisions.
- As per Forbes, 65% of executives visit the marketer’s website and 39% call a vendor after watching a video.
- As per Wordstream, 59% of executives stated they would rather view a video than reading a text.
- As per We are Social, 70% of marketers plan to use video marketing this year.
Also, note that the year 2018 has been a turning point for digital transformation. There are now over 4 billion internet users globally, each spending 6 hours online, daily on an average. And the rapid growth of the digital world doesn’t end there. Currently, over 5 billion people possess mobile phones. And over half of those devices are smart phones. Nearly 3 billion mobile users are active on social media.
You can safely say that consumers are increasingly living their lives online. They log over 3.5 billion Google searches a day and consume more than a billion hours of YouTube content daily. What’s more? In 2017, they made $1.474 trillion in sales revenue. It is a 16% increase from the year before.
Why Video Marketing?
Video content brings you the opportunity to tell uniquely compelling stories. You only need to get creative to be successful. You should always aim for relevance and quality as with any other type of content. If you are able to provide viewers with valuable information they can’t get elsewhere, it will improve your brand recognition and customer loyalty. Focus on explainer vieos, product demos, how-to’s and testimonials. Also, remember that your audience has a short attention span. There’s a good reason why in 2017, 56% of all videos published were less than 2 minutes long.
When you decide on your video marketing strategy, bear in mind that Instagram, Facebook, Twitter and Snapchat are all beginning to give importance to video content in their algorithms. They support a wide range of formats from 360° videos to live events. Leverage this diversity in a mobile-friendly manner to connect with your audience at different stages along their customer journeys and drive engagement.
Will Video Be the Defining Trend in Digital Marketing for the Next Several Years?
There is sufficient evidence that consumers respond more instinctively to videos than to any other type of content. As per reports:
- Facebook users view over 100 million hours of videos on a regular basis.v82% or people view video content on the platform.
- YouTube reportedly has 1.5 billion monthly logged-in users watching more than an hour of video content on average via mobile devices only.
- Video content is anticipated to account for 79% of all international internet traffic in 2020.
- Almost 50% of internet users search forproduct or service videos before making a purchase.
- 53% of people would like marketers to deliver more video content.
- 4 times as many consumers would rather view a video about a product than reading about it.
- 51.9% of marketeers globally consider video content to have the best ROI.
It’s crystal clear that if you wish to connect with consumers, your digital marketing strategy should include videos.
More Staggering Statistics
By 2020, Cisco anticipates that there will be almost a million minutes of video per second crossing the internet. It adds that, by then, 82 percent of all consumer web traffic will be videos.
Rutz Roberts Productions which is one of the most well-liked video marketing firms in the US states video marketing will garner more than 80% of the internet traffic globally by 2019.
Statistics of Embedding video in email marketing campaigns showed a rise in click-through rates by 200% to 300%.
It is also anticipated that video in landing page content can raise conversion rates by 80%.
Video marketing is doing great at present and it has a brighter future. It is clear that if you want to connect with consumers in a meaningful way and build long-term relationships, you will have to meet them online. It won’t be easy as the competition is fierce and consumer expectations are high. How well you match these evolving needs with delightful customer journeys will determine your ability to compete. Tap into fundamental trends and new technologies that can give you an edge. But do learn how they mesh together and complement one another.