Video Marketing Statistics
Taking a look at the most recent State of Video Marketing Survey of Wyzowl, we can get a nice picture of the current trends.
- 81 % of businesses use video as a marketing tool.
- The average consumer spends more than an hour and a half watching online video content per day. Videos are easily available, and I'm not only talking about YouTube. Just scroll down to your Facebook or Instagram feed and count the videos popping up.
- 85% of businesses think about video content as an important part of their marketing strategy.
- 78% of marketers say video gives them a good ROI. "How-to" or instructional videos, demos and explainer videos are among the best ones from an ROI point of view.
- 97% of marketers say video content has helped increase user understanding of their product or service. Providing customers with clean-cut visual content with narration instead of manuals is becoming increasingly popular. It's also easier to deliver a message about your business goals, product details and solutions in a video than in a long text.
- 80% of marketers say videos have increased dwell time on their website. If you manage to engage your audience and they stay longer on your website, you will have a higher chance of turning them into customers.
- 2 out of 3 businesses not currently using video plan to start in 2018. Those who are already using video, plan to continue that. Considering the above data, it's not surprising.
- When both video and text are available on the same page, 72% of people would rather use video to learn about a product or service. Let's dig into this particular finding. Why could video stay above other types of content?
Video vs. Any Other Content
When it comes to content, people tend to pay close attention to (instead of skimming over) videos in the first place, regardless of age. On top of that, consumers also want to see more video content in the future, according to HubSpot's Digital Consumer Trends Report.
"A minute of video is worth 1.8 million words”
- says Dr. James McQuivey (Forrester Research). You have the opportunity to compress many ideas, thoughts and values about your business or your products into a video. Watching a simple demo is easier than reading a text about how to use a product. Adobe found that people who view demo videos are 1.81 times more likely to make a purchase than non-viewers. Furthermore, in a video you can use different settings, a wide range of emotions, visual tricks and surprising turns.
Also, don't forget about the fact that probably 65% of your audience belongs to the group of visual learners. Grabbing their attention with a video is easy. They find this way of presenting a solution ideal and engaging.
When comparing the amount of information that stays with your viewers, video easily wins. Consumers retain 95% of the message when it's presented through a video, and only 10% when it's in a text. A sound, a colour, a particular movement, a surprising line or a character can be helpful when recalling more details from the whole content. Use these fragments as reminders in a conscious way in order to create a memorable experience.
The brain processes visual data 60,000 times faster than text. This means that you basically save time while presenting your product in a more efficient way.
I find it important to mention that although video content could be a great part of your marketing strategy, some of your customers still prefer text format. Moreover, you might find hearing impaired and/or visually impaired people among your audience. As mentioned above, the majority of your target group is probably a visual learner, but you don't want to leave out the rest.
About Paid Campaigns
Considering the points above, including a video in your paid advertisement has many advantages for your sales.
Video content is valued by consumers as part of their buyer journey, as Wyzowl found out. A video is not only considered as a starting point to build knowledge about a product, it's also a 'tipping point'. This means that videos include a decisive factor that convinces people to buy or download a product. And if that particular video piece is enjoyable, it can increase purchase intent by 97%.
Including a video in your ad boosts engagement by 22%. You give your audience extra visual stimuli they can like, talk about, and share with their friends. Furthermore, people are more likely to trust services and products which were shared by their friends.
I should have made a video instead of writing an article.
Okay, but seriously, implementing a video in your paid advertisement is truly worth it. It might take a bit longer and more energy to create valuable content, but you get more attention, more engagement and more time spent on your website.
If you're not in the video-making yet, don't think so much, just give it a try!
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