Marketing Statistics: Why You Should Be Using Video
As many businesses begin to look back over 2018 and define a strategy for 2019, it’s a good idea to review the trends and statistics that have propelled video marketing to popularity. To keep up with the latest in video marketing, businesses need to stay up-to-date. Taking advantage of marketing statistics helps businesses create videos that extend their reach to new audiences and increase conversions. Using video correctly can do just that.
Videos and Today’s Viewers
Video has taken the internet by storm. More video content is uploaded in 30 days than major U.S. television networks have created in 30 years. It’s clear that video content is popular with marketers and consumers alike, but the sheer amount of content available means it’s important for marketers to stand out from the crowd.
Almost 50% of internet users search for videos of products or services before ever visiting a store and these online shoppers are almost 2x as likely to purchase after watching a demo video. Featuring videos of your products or services are an excellent way to increase conversions of potential customers. Videos also increase the amount of time consumers spend on a page (2.6x more), providing an opportunity to educate your customers and encourage them to purchase.
Using Video on Mobile and Social Media
Taking advantage of using video means considering how video marketing will translate to mobile platforms. Over half of all video content is video is viewed on mobile. This means marketers need to be sure that content and format will be easily accessible to viewers on mobile devices.
Social platforms also make videos more shareable and 92% of mobile viewers share video with their network. Include easily links to share on mobile platforms and encourage your viewers to share with your calls to action.
Every social platform has its own best practices for sharing and it’s important to learn not only the behavior of your target demographics but also of the demographics on each social site. For example, 85% of videos on Facebook are watched without sound. Longer videos like explainers and product demos work best on YouTube or embedded in your website. On Instagram, branded content that looks highly as commercial does not perform as well as more natural content.
Live video has become a popular trend with businesses across social platforms and 50% of marketers plan on integrating live video into their strategy. Users on Periscope have created more than 200 million broadcasts and have watched over 110 years’ worth of live video.
Live videos increase brand favorability by 63% according to Twitter and on Facebook, live videos are watched 3x longer than videos that aren’t live. Facebook live videos also receive a massive amount of engagement – users comment on live videos ten times more than regular videos. The majority of marketers intend to increase their use of live video. Many marketers agree that if money and time were no obstacle, they would create live videos.
Video: Worth the ROI?
While creating high-quality videos can require time and money, the return is well worth the investment. 51% of marketing professionals around the world have named video as the content with the best ROI and video grows revenue 49% faster for marketers. Landing pages that feature videos can increase conversions by up to 80%. There are many ways to make great videos without spending too much money – especially live videos which don’t necessarily require a large amount of set up or production.
Videos help build relationships with consumers and have a direct impact on purchasing behavior – most consumers would prefer to watch a video on a product rather than reading about it. 73% of B2B marketers say that video positively affects ROI. Consumers also trust the advice of video creators – especially if it’s an influencer or someone they trust. Video is also a great way to reach a new audience – companies who use video see 41% more web traffic than those without.
Video marketing is here to stay and the current statistics support integrating video into businesses’ marketing strategy in 2017 and beyond. Videos are everywhere and consumers are far more likely to watch a video of a product or service than read an article. Sharing videos across social platforms and on business websites increases engagement and boosts conversions. The ROI is clear with increases in revenue and sales. If you haven’t already, be sure to include video marketing into your strategy for this year and the years beyond!
