The State of Video Marketing: A Must-Read for Marketers
No doubt you've heard the stats - online video drives better engagement, live video is seeing huge response rates, 80% of all internet traffic will be video by 2019.
If you're not sure whether you should be investing in video content, the evidence is fairly clear. While not everyone has the capacity, or capability, to create great video material, there are more options with which to do so than ever before. With a little creative thinking, you should be able to tap into video in some form to help boost your marketing efforts.
This post contains research and statistics that will make you think differently about your video marketing strategy.
Where are We Now?
According to the Wyzowl’s State of Video Marketing Survey, the numbers suggest there is a bright future for video - among both marketers and consumers.
These statistics were gathered by surveying 570 unique respondents in December 2017. The respondents consisted of both marketing professionals and online consumers.
1. Video usage is on the rise.
- 81% of businesses use video as a marketing tool - up from 63%.
- 99% of those who already do use video, say they'll continue to do so.
- 65% of those who don't currently use video, say they plan to start.
2. We watch a lot of video.
From the video content we watch at work, to online streaming services and beyond, video is a central part of how we live. The respondents were asked specifically how much video content they'd watch in a typical day, and the average response was 1.5 hours. 15%, meanwhile, responded that they watch more than 3 hours of video on a typical day.
3. Marketers rely on video to help them do their jobs.
Video is often cited as a tool that helps drive various areas of business performance, and the numbers back up those claims:
- 97% of marketers say video has helped increase user understanding of their product or service.
- 76% say it helped them increase sales.
- 47% say it helped them reduce support queries.
- 76% say it helped them increase traffic.
- 80% of marketers say video has increased dwell time on their website.
- 95% of people have watched an explainer video to learn more about a product or service.
- 81% of people have been convinced to buy a product or service by watching a brand's video.
- 69% of people have been convinced to buy a piece of software or application by watching a video.
- 85% of people say they'd like to see more video from brands in 2018.
4. Consumers love video.
It's probably unsurprising, but video seems to add tremendous value to our experience as customers, too.
Where both video and text are available on the same page, 72% of people would rather use video to learn about a product or service.
Are You Going to Join the Video Marketing Bandwagon?
Industry is constantly changing and typical content marketing is saturated. Strategies that seemed bulletproof yesterday might drive your ROI into the ground tomorrow. Essentially, things that worked at one time will deteriorate as the market gets saturated.
Beyond the fact that typical content marketing tactics are saturated, video is simply taking flight.
It’s launched like a cannonball and shows no signs of slowing. That means nearly everyone is going to consume almost entirely video-based content in the coming years rather than text-based.
If you’re planning to join the video marketing bandwagon, we encourage you to download our Ultimate Guide to Successful Video Marketing Strategy that will help you get on your way!