Marketing strategies keep getting more creative with the ever increase in technology and social media. However, one domain has dominated the marketing field that is “video marketing”. Data shows how users are more inclined to watch videos rather than read texts or photos, mostly because a video can consist of both, but its visual and aesthetic appeal is mostly what attracts users towards a product. This article will cover the eight eye-opening statistics revolving around video marketing which you should be aware of. But before that let’s break down video marketing into its constituents, which are namely:
- Introduction videos: This explains the business and its services/products and basically gives a general overview
- Product videos: This promotes the product and its various features which can also include demos and reviews
- Vlog(Video blogging): This type is basically where a blog in a video format, where one person or multiple people can talk about a certain topic
- Video presentations
- Video Ads
Now let’s look at the data revolving around video marketing.
The video is the prime medium for enjoyment
Videos are constantly being viewed by everyone around the world. 95% of people residing in Saudi Arabia and Turkey watch online video content monthly. This shows the number of people invested in videos which makes it easier for brands to delve into video marketing.
The major increase in demand for videos
Due to videos being a combination of both sound and moving pictures, people are more inclined towards them for leisure or learning sources because they provide a wider attention span to users in comparison to text or audio (which are skipped or skimmed through). According to the pie chart shown below which is part of the Wyzow Video marketing survey 2019 shows how people prefer videos over any other medium for learning. Even 65% of people prefer short videos to give them an awareness of a product or service. (Wyzow, 2019)
Marketing with Videos
Given the above stats of how people are so actively viewing videos resulted in business exploiting this field. Currently 87% of business use video marketing as their primary tool. Even marketing strategists consider videos a crucial part of their marketing campaign. Video content results in more awareness about a certain business or product and creates more opportunities.
Relationship of Social Media and Video marketing
With the invention of social media platforms like Facebook and Instagram, most of the people’s leisure time has been converted into scrolling through their social media feed. Videos are extremely anticipated and viewed on social media. These vastly influence people’s views and lead to new purchases. 73% of consumers were convinced to buy products due to their social media presence (Animoto, 2018).
$$$$ equivalent to video marketing?
The given photo from Wyzowl 2019 survey shows the definitive success they gained from marketing using videos on various social media platforms. From this, we can make a conclusion that video marketing is racking in a significant amount of money.
One of the most used services in the modern world is learning via online videos. 96% of people say they’ve watched an explainer video to learn more about a product or service (Wyzou, 2019). It’s much easier for people to watch a 2-minute video about something they are interested in rather than read about it. Not a lot of resources are required for making videos due to the recent advancements in technology, especially mobile phones.
Videos: Increased Website traffic
As we established that videos retain a person’s attention for a longer period of time. This means your website gets more traffic and views which might result in leads. The average user spends 88% more time on a website with video (Forbes, 2018). Now that’s a significant amount of time
YouTube: Lord of Videos
After Google, YouTube is the largest used search engine, due to its ever-increasing video content on any topic you can imagine. It receives more than 1.5 billion users per month and plays over 1 billion hours of video each day to users (SEJ, 2018). Due to the various genres available on YouTube people are attracted to it, which makes it a hotspot to promote your product. Especially with YouTube’s business features make it optimal to promote your videos. Video marketing increases user engagement and awareness which is beneficial to your business.
Conclusively this data shows that if you want to up your marketing game, videos are the surefire way to go. They increase both lead generations and awareness of your business. Also given the social media platforms and easy to use video editing software, it is not as hard to dive into the video marketing field.