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.
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.
Recommended Resource: For even more data, see our ultimate roundup of Fascinating Content Marketing Statistics To Make You A Marketing Genius!
Is video marketing really worth it? Research shows us that it is. In their 2020 report, Wyzowl found:
Animoto‘s Social Video Forecast also suggests that 91% of marketers are satisfied with the ROI of video marketing on social media.
Key takeaway: There’s no need to wonder about the benefits of video marketing for business. It’s definitely worth it, and you don’t have to take video marketers’ word for it, either.
Here are two examples that show the power of video marketing. Tiger Fitness says video marketing helped them achieve a 60% returning customer rate, which is three times the norm for their industry. And SAP got 9m impressions with a video-heavy content marketing campaign.
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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:
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!
Key takeaway: More than two-thirds of marketers are using videos for marketing; you can’t afford to be left out.
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:
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.
Key takeaway: Consumers love video, but you’ve got to make it good and keep it short. Consider using a video popup the next time you build a lightbox popup or other OptinMonster campaign.
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.
Key takeaway: Mobile is the way to go.
Lately, it seems like video, especially live video, is becoming a part of every social media site. And it looks like social media users are responding. Facebook reports that they get more than 8 billion video views daily and newcomer TikTok got an average of 1 million video views per day in its first year.
Video content gets attention; that’s for sure:
While Facebook is one of the main places where small businesses and professional marketers share video content, it’s not the only important social video network. According to Animoto, 90% of brands post video to Youtube at least once per week and 83% share video on their Instagram feed (80% share to Instagram Stories).
Tools to Use: 11 Best Instagram Video Editing Tools Compared (Free and Paid)
But with more than 2 billion users, YouTube packs a powerful punch.
Key takeaway: These video marketing statistics show that as long as we have social media, we’ll likely have social video, too. Check out our guide to YouTube SEO to get the most out of your YouTube channel.
Related Content: 12 Steps to Get Your First 100 YouTube Subscribers
Our research into video marketing statistics suggest that video will be a great way to grow your network and customer base, not just this year, but in the future.
One staggering statistic comes from Cisco: By 2020, there will be almost a million minutes of video per second crossing the internet. Cisco adds that, by then, 82% of all consumer web traffic will be video.
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.
Key takeaway: Video marketing continues to evolve. It’s time to start using video so you can keep up.
These video marketing statistics show the importance of video marketing for your business, both now and in the future. Want more stats? Check out this awesome list of blogging statistics!
Did you know that you can use OptinMonster to create a video popup to boost engagement on your site? Or maybe you want to learn how to build an email list for your YouTube channel. Either way, be sure to check out our list of video creation tools and don’t forget to follow us on Twitter, YouTube, and Facebook for more useful guides.