In order to stay fresh and relevant, it’s crucial for you to include video in your marketing strategy
The numbers are clear: people would rather watch video than read about a company, brand, product, or service. Give your audience what they want and keep up with your competition at the same time!
But of course, we’re not asking you to blindly take our word for it. After all, we’re a video company so it may seem a little suspect that we’re recommending video to you.
Instead, we’ll let the numbers speak for themselves! These statistics show you who’s using video, why they’re using it, and if their strategies are working.
Is Every Business Using Video These Days?
Let’s face the facts: you’ve got competition. It doesn’t matter what industry you’re in; most marketers are using video. It’s essential to get some skin in the game to stay ahead of the pack. The longer you wait, the harder it will be to catch up to those who are already engaged in some form of video marketing.
1. 87% of businesses now use video as a marketing tool. This number is up from 63% in 2017 and 81% in 2018. (1)
2. 91% of video marketers consider video to be an important part of their marketing strategy. That’s an increase from 82% in 2017 and 85% in 2018. (2)
3. 90% of video marketers feel that the level of competition and noise has increased in the past year. (2)
4. 99% will continue to use video in 2019, with 88% saying they’ll spend more than they did in previous years. (2)
5. 52% of marketing professionals worldwide said video is the type of content with the best ROI. (3)
6. Marketers who use video grow revenue 49% faster than non-video marketers. (3)
7. In 2018, 73% of marketers created at least two videos a month for social media marketing. (4)
8. The average CVR for websites using video is 4.8%, compared to 2.9% for those that don’t use video. (3)
What Is The Epiphany?
As you can see, video marketing is here to stay. No matter your industry, video is a powerful tool at your disposal, one that is becoming more and more common each year. If you want to stay ahead of your competition and give your customers what they want, it’s more crucial now than ever before to nail down your video marketing strategy in 2020.
Why Are Marketers Turning To Video?
Not only is the number of people watching videos online steadily increasing, so is the amount of time they’re watching.
The amount of time people spend on Twitter, YouTube, Facebook, and Instagram every day is staggering—and all of these platforms are consistently seeing an increase in video content, year after year.
Putting your dollars behind video projects will help ensure you’re reaching people who would rather watch a quick video than read a long document about your company, product, or service.
9. The 1 billion YouTube users make up one-third of all internet traffic. (3)
10. Every 60 seconds, 72 hours of video are uploaded to youtube. (3)
11. On Twitter, 82% of users watch video content. (3)
12. Nearly half of Facebook and YouTube users consume more than an hour of video per week. (3)
13. On average, people spend 2.6x more time on pages with video than without. (5)
14. Video is expected to make up 82% of internet traffic by 2021. (6)
15. 71% of people watch more video than they did a year ago. (7)
16. While 85% of online users in the U.S. regularly watch videos online, Saudi Arabia wins globally with 98% of its online population consuming video content. (3)
17. 87% of consumers want to see more video content from brands. (8)
18. In 2019, 80% of all consumer internet traffic is expected to be video traffic. (3)
19. One-third of online activity is spent watching video. (3)
20. Social media brand video ads are the #1 way consumers find out about brands. (4)
21. 50% of viewers aged 18–34 said they would stop what they were doing to watch a video from their favorite creator. (9)
22. People ages 25–34 watch the most online videos. (3)
23. 72% of consumers prefer video over text to learn about a product or service. (1)
What Is The Epiphany?
Businesses have to adapt to the world around them. Since customers are watching more videos than ever before, the best thing a business can do is look for places to leverage video where they would’ve used text before. When customers go to your website or social media channel, they want to see video content. As long as people prefer to watch video, video will be what they expect. That means it should be one of the first tactics you think to use to reach your audience, an essential tool in your arsenal that can set you apart from your competition.
But Does Video Actually Drive Engagement?
Marketing strategies are all about increasing engagement in all kinds of ways. Videos afford you the opportunity to tell compelling stories in a way that increases engagement, allowing you to see results like shares, lead generation, sales, and click-throughs.
You don’t just want your audience to know that you exist—you want them to really understand what you do and why it matters. You ultimately want them to engage with your brand, tell others about you, buy your product or service, and become more loyal customers.
Video is the best way to drive this kind of engagement and see the kinds of results that have a big impact on your bottom-line. Here are some statistics to prove it.
24. 94% of video marketers say video has helped increase user understanding of their product or service. (2)
25. 93% of businesses said they got a new customer as a direct result of a video posted on social media. (3)
26. 62% of businesses say their homepage explainer video is effective. (10)
27. A website is 53 times more likely to reach the front page of Google if it includes video. (11)
28. Prospects are 85% more likely to purchase after viewing video content. (12)
29. 83% of marketers say video gives them a good ROI (up from 78% in 2018). (2)
30. A good video content marketing strategy can increase qualified leads by 66%. (13)
31. 64% of consumers make a purchase after watching branded social videos. (14)
32. Including video on landing pages can increase conversion rates by 80%. (15)
33. If you use video as part of your marketing strategy, you could see revenue grow 49% faster than competitors who do not use video. (13)
34. Social video generates 12 times more shares than text and images combined. (3)
35. Videos attract 300% more traffic and help to nurture leads. (16)
36. An initial email with a video receives an increased click-through rate by 96%. (3)
37. 79% of people say a brand’s video has convinced them to buy a piece of software or app. (2)
38. Video can increase SERP results by 157%. (17)
39. Including video on your landing page can increase conversion rates by 80%. More than that, the video-enhanced landing page is 53% more likely to show up as the first result in search. (16)
40. When you include video on your website, users spend on average 88% more time on your site. (3)
41. Video on your blog drive visitors to your site. Posts with video are linked to 3x times. (3)
42. Monthly web visits increase 2–3 times when video is included. (3)
WHAT IS THE EPIPHANY?
The numbers are clear. Marketers who use video see results. That’s why so many businesses’ marketing strategies already contain some usage of video.
BONUS: Tips & Tricks (and, yes, more stats)
As you begin thinking about your video marketing strategy, keep some of these best practices in mind.
43. 85% of Facebook videos are watched without sound. (3)
TIP: If you anticipate that your video will be viewed primarily on Facebook, consider a video that doesn’t require sound and/or has subtitles.
44. Only 5% of viewers stop watching videos after one minute, but 60% will stop watching after two minutes. (18)
TIP: There’s a sweet spot when it comes to video length. If you go beyond it, you risk losing your audience.
45. Average retention rate for videos over 30 minutes is only 10%. (12)
TIP: You may be tempted to try and cram everything you want to say in one video. The danger is that the longer a video goes, the less people will be able to remember. Stick to the essentials. If there’s a lot you need to say, consider a series of bite-sized videos to break up the content.
46. 95% of consumers believe a video should be less than 2 minutes long. (10)
TIP: Again, it’s best to keep it short and sweet.
47. Share videos directly on social media rather than sharing a link to YouTube or a landing page. Facebook videos reach users 10x more often than YouTube links. (3)
48. The average user spends 88% more time on a website with video. (3)
49. Prospects are 95% more likely to remember a message told by video rather than text. (19)
50. 96% of people say they’ve watched an explainer video to learn more about a product or service. (2)
51. Two-minute videos enjoy the highest engagement. (20)
52. Make your point early in a video, only 46% of viewers typically make it to the end. (13)
53. B2B prospects watch videos the most on Tuesdays between 7 and 11 am. (21)
54. 68% of people say they’d most prefer to learn about a new product or service by watching a short video. This makes video more popular as a learning tool than text-based articles (15%), infographics (4%) presentations and pitches (4%) ebooks and manuals (3%). (2)
55. 69% of marketers said visual content was an absolute necessity. (22)
56. In 2019, marketers expect to spend 32% of their budget on visual content. (23)
57. Many businesses are increasing video production budgets in 2019 for both in house and externally produced videos to keep up with demand. (24)
58. Larger companies produce more videos on average, but some smaller companies produce just as many and often outperform their larger competitors. (13)
59. A good video content marketing strategy can increase qualified leads by 66%. (13)
Video isn’t going anywhere. As long as it’s the preferred way for people to engage with content, businesses will keep using it. It can be tricky, though, knowing which videos your company needs, how many you need, and what your ongoing strategy for video should be.
No matter which industry you’re in, there are a few types of videos that are good to start with. Check out the ones we suggest to determine which are the right fit for you, based on your audience, mission, message, and goals you’re trying to achieve this year.
See The Five Videos Every Company Needs in 2020
(7) HubSpot – https://blog.hubspot.com/marketing/video-marketing
(11) Biteable – https://biteable.com/blog/tips/video-marketing-statistics/
(14) Tubular Insights – https://tubularinsights.com/64-percent-viewers-purchase-social-video/
(16) Marketing Sherpa – https://www.marketingsherpa.com/article/how-to/videos-attract-300-more-traffic
(17) Lemon Light – https://www.lemonlight.com/blog/how-will-video-help-seo-ranking/
(18) Lemon Light – https://www.lemonlight.com/blog/60-video-marketing-stats-2018/
(21) HubSpot – https://www.hubspot.com/marketing-statistics
(24) Lemon Light – https://www.lemonlight.com/blog/top-16-video-marketing-predictions-for-2019/