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.
The ROI of Video Marketing
Is video marketing really worth it? Three different sets of research think it is. In Understanding the Expanding Benefits of Marketing with Video, Aberdeen Group says:
- Video marketers get 66% more qualified leads per year.
- Video marketers achieve a 54% increase in brand awareness.
Animoto’s Social Video Forecast suggests that 76.5% of marketers and small business owners are getting results with video marketing.
And Wyzowl’s 2017 State of Video Marketing survey shows that:
- 83% of those using video think it gives them a good ROI; 82% think it’s a key part of their strategy.
- Of those that aren’t using video, 73% have bought a product after watching a video.
- 97% of businesses using explainer videos say it helps users understand their business better.
- 94% of businesses see video as an effective tool.
- Among those surveyed, 81% saw an increase in sales and 53% said support calls were reduced.
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 has 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.
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. Aberdeen Group says 41% of marketers use video as a strategy.
Other research puts the figure even higher. According to Animoto, 55% of small and medium sized business owners have produced or outsourced video production in the last 12 months. And Wyzowl says 63% of businesses use video for marketing.
- 60% of both B2B and B2C marketers use video for marketing.
- 30% of B2B marketers say video will be key to content marketing success in 2017.
- 34% of B2C marketers say it will be crucial to success in 2017.
Social Media Examiner has similar findings. Its research shows that in 2016, 60% of marketers used video; 73% plan on using it more this year. In addition, 14% of marketers used live video in 2016.
Key takeaway: Around two-thirds of marketers are using videos for marketing; you can’t afford to be left out.
Consumers and Online Video
So, how do consumers respond to video marketing? The online video stats show that they love it. Hubspot’s research shows that 45% of people watch an hour or more of video per day.
According to Google, half of 18-34s would stop what they’re doing to watch a new video by their favorite YouTube creator.
Google adds that 40% of millennials trust YouTube for content; and 60% say videos they’ve watched have changed their world view.
Video’s also an important part of the shopping experience:
- Almost 50% of web users look for a video before visiting a store, says Google.
- Wyzowl says that 79% of consumers prefer watching video to reading about a product.
- And Hubspot says that 43% of consumers want to see more video content this year.
Wyzowl has more data about consumer preferences:
- 84% of consumers have bought something after watching a video.
- 91% of consumers have watched an explainer video.
However, it’s important to get the tone right. Wyzowl says 75% of consumers have not bought a product because the voiceover annoyed them. In fact, 83% prefer an informal and chatty tone.
Length matters, too, in video marketing. According to Wyzowl, 50% of consumers believe the right length for an explainer video is 1 minute.
Wistia’s research shows that videos up to 2 minutes long hold viewers’ attention; then there’s a drop off. Attention picks up again for videos between 6 and 12 minutes long.
If you’re running video ads, they’d better be stellar. According to Mary Meeker’s 2016 Internet Trends report, 81% of consumers mute video ads. And Digiday says that 85% of Facebook video is watched without the sound turned on.
Mobile Video Marketing
Mobile marketing is all the rage, so most recent research has also paid attention to mobile video marketing. According to IAB, marketers increased their spending on mobile and digital video ads by 95% between 2014 and 2016.
Even though Wyzowl found that 60% of people prefer watching videos on desktop computers, research from others suggests that mobile devices rule:
- According to YouTube, more than half of all YouTube video consumption is via mobile devices.
- comScore 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 Twitter says 92% of Twitter video views happen on mobile.
Key takeaway: Make no mistake; the future is mobile.
Social Video Marketing
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:
- Mary Meeker’s 2016 Internet Trends report reveals that Facebook gets 8 billion video views daily.
- If you think that’s a lot, then you’ll be blown away by Snapchat’s 10 billion daily video views.
Video content gets attention; that’s for sure:
- Twitter says video on Twitter is 6x as likely to be retweeted as photos.
- DOMO’s Data Never Sleeps infographic shows that YouTube users share 400 hours of new video a minute.
- Meanwhile, DOMO says Snapchat users watch 6.94m videos a minute.
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, 53.4% of marketers see Instagram videos as important.
But with more than 1 billion users, YouTube packs a powerful punch. The site has more viewers among 18-49s than any US cable network.
That’s why it’s no surprise that Animoto’s research reveals that 26.4% of professional marketers and 18.5% of small and medium sized business owners say YouTube will be their main video sharing platform in the next year.
Key takeaway: These video marketing statistics show that as long as we have social media, we’ll likely have social video, too.
Video Marketing Trends for 2017 and Beyond
Our 2017 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.
Marketers don’t plan to be left behind:
- According to We are Social, 70% of marketers plan to use video marketing this year.
- Wyzowl says 82% plan to spend more on video.
There is a challenge, though. According to Ascend2’s State of Content Marketing report, 64% of marketers see video as the most difficult content to create.
Live video is the latest trend, and Social Media Examiner says 50% of marketers plan to use live video this year. However, not all marketers are confident about doing so; the same percentage want to learn more about live video.
It’s likely worth their time, though. Facebook says its users spend 3x longer watching live video than video that’s no longer live.
Key takeaway: Video marketing continues to evolve. It’s time to start using video so you can keep up.
These 2017 video marketing statistics show the importance of video marketing for your business, both now and in the future.