Video dominated the marketing world in 2017, and this new king of content looks like it will continue to reign supreme throughout the rest of 2018.
But what exactly is driving marketers to the power of video? Let’s take a look at some staggering statistics from Wyzowl’s State of Video Marketing 2018 survey, discussed by Business2Community:
1. The average consumer watches over an hour and a half of online video content every day
And approximately 15% watch, on average, more than three hours daily. It is clear that video plays a key role in our daily lives. As streaming services and online video continues to rise, it’ll be interesting to see how daily video consumption will also grow.
2. Nearly three quarters (72%) of people would opt for video to learn about a product or service when video and text are available on the same page
Video is a great way of delivering information in an easy and manageable way, so it is easy to understand why many people would rather press play than read a wall of text when it comes to learning.
3. The overwhelming majority (95%) of women have watched an explainer video to learn about a product or service
Explainer videos have become so commonplace that they have been used by nearly all consumers to gain a deeper understanding of a product or service.
4. 97% of marketers revealed video has boosted user understanding of their product or service
Video is seen, almost unanimously, as having the ability to help users understand products and services. No wonder video adoption is on the rise!
5. Over three quarters (76%) revealed video has helped increase sales
Beyond just proving ROI, the effectiveness of marketing tactics is determined by how it impacts company sales. For those who still haven’t delved into video, the positive effect on sales will surely prove it is a worthwhile investment.
6. 76% also say video has resulted in website traffic growth
The same percentage of marketers also believe the inclusion of video on their company website has helped to increase traffic, providing them with more leads to push through their sales funnel.
7. 85% of consumers want brands to produce more videos this year
It is understandable to be worried about video saturation but, as this shows, consumers actually want to see more video content from brands.
8. A brand video has convinced 81% of people to buy a product or service
While taking an overtly sales approach to your video might not work, content depicting, explaining, or suggesting ways to use a product or service is a highly influential part of the sales journey.
9. 83% of consumers would consider sharing a brand video they enjoyed with their friends
While you might assume consumers are averse to sharing branded content, this statistic proves otherwise. But remember, it’s not about the brand, it’s about quality content. To see those views rise, make sure you’re producing entertaining videos. When creating the content ask yourself, would you share this video with your friends?
10. Of those businesses not currently using video, 65% plan to start in 2018
This figure has risen from 34% in 2017. Given how demonstrably effective video marketing is, it’s little wonder so many companies are keen to jump on the bandwagon and reap the rewards of video this year.
Have these video marketing stats won you over to the power of video marketing? To see the greatest success with this versatile marketing tactic, you need quality content and a great distribution strategy. If you’d like help boosting views and engagement, call Spot Digital today.