Videos make it less complicated to understand information and are naturally entertaining, that’s why it’s no surprise that video marketing has positively impacted different facets of many businesses’ digital marketing strategies, enhancing even their brand awareness, engagement, and sales. Simply put, video marketing plays a significant role in today’s businesses, however, some of them are unaware of what it can do because of the myths and misconceptions that seem to be discouraging. So it is also crucial to understand how it works and how it can potentially grow your business. One of the ways to know more about a new or unfamiliar marketing strategy is to look at its statistics. Looking at the statistics provides you with insights and possible challenges that will help you better plan out your next move.
Here’s a list of video marketing statistics that you’ll want to take note of:
1. 86% of Businesses Utilize Video Marketing
Video marketing has shown success for businesses given that 86% of them use this to advance their digital marketing efforts. Over the past few years, from 2016 to 2017, it showed a slow increase (61% and 63%) then made a rapid increase in the years 2018 and 2019 (81% and 87%). However, the percentage of businesses that use video marketing slightly declined in the following years, yet made a steady growth in 2021 and 2022, staying the same at 86%. We can possibly attribute this steady increase to platforms today that make videos more accessible to people online, leading businesses to see it as a potential way to market to their target audience.
2. Marketing Videos Should Be 2 Minutes or Less for Them to Be Engaging
The optimal length of a marketing video should be 2 minutes or less for it to be engaging. But of course, this will also vary depending on where you share or embed it, the industry, platform, or channel, and your target audience. If you’re just starting out or introducing your brand, it’s best to keep it shorter — at least under 60 seconds as much as possible, then increase the length slowly as more people recognize your brand.
Basically, you want to keep your audience hooked, so less is more. You have to devise a way to squeeze in all the necessary details that you want them to know in the few minutes or seconds you have. Avoid including anything that won’t serve its purpose and zoom in on what will underscore your point and what will make your target audience better understand what your product or service is all about.
3. 84% of Consumers Say That By Watching a Brand’s Video, They Were Convinced to a Buy Product or Service
Needless to say, videos are easier to remember — and for this reason, 84% of consumers were convinced to purchase a product or service after watching an explainer video from a brand. Since videos come with visuals and most people require visual aids to better comprehend and understand things, videos tend to appeal more to the majority of the market.
4. 83% of Businesses Say That Video Marketing Have Improved Their Lead Generation
Proper lead generation is essential for a business to grow and expand. While some may still be hesitant to make use of videos in their marketing, it’s safe to say that it works as 83% of businesses have improved their lead generation through video marketing. Video content, especially those that are well-thought-out and targeted, pique the interest of the right audience, which is vital for lead generation to be successful — and as a result, increase conversion rates and sales.
5. Online Users Worldwide are 1.5 Times More Likely to Watch a Video Daily via Smartphones Than on Computers
We are now living in a mobile device-driven era where most people watch videos on their smartphones, may it be a movie, TikTok video, or tutorial video. Hence why online users worldwide are 1.5 times more likely to use their smartphones than their computers to watch videos daily. That’s why it’s also important for video marketers to optimize their videos for mobile devices because it can boost engagement and allow your audience to recognize your brand better.
6. People Retain 95% of the Information When Watching a Video Compared to 10% When Reading a Text
Most people, being more than half of the general population (65%), are visual learners — meaning they rely on visual aids to retain information effectively. This explains why people retain 95% of the information when watching a video and are less likely to absorb information from text-based content, making it a fine opportunity for businesses who are looking to up their video marketing game. However, of course, it does not disprove the efficiency of text, particularly for people who prefer texts more.
7. 54% of Businesses Say That Video is the Most Valuable Type of Content in Social Media Marketing
Most of the market flocks to different social media platforms, which is why social media marketing is deemed as one of the most effective digital marketing techniques. And you’ll be happy to know that social media and video make a great pair — since 54% of businesses consider video as the most valuable type of content in pulling off successful social media marketing.
8. 75% of Users Prefer Watching Horizontally on Their Mobile Phones and 25% Prefer Watching Vertically
While vertical videos may be a trend nowadays, especially with platforms such as TikTok videos, Instagram Stories, and Instagram Reels making it easy to watch videos in that format, the majority, being 75% of the online users, still prefer watching videos horizontally. The reasons are plain and simple: horizontal video format is ideal for long-form content and is easy on the eyes.
9. 87% of Businesses Say That Video Marketing Has Helped Them Increase Website Traffic
Through video marketing, 87% of businesses were able to increase their website traffic. But not every business with a website recognizes the positive impact of videos — that just by adding a video to your landing page, it potentially boosts your website traffic by over 130%. Videos tend to catch attention and make your visitors stay longer on your website, so search engines like Google will consider your website for ranking, and when you appear on top of the SERPs, you’ll most likely be getting a lot of traffic.
10. 81% of Businesses Say That Video Marketing Helped Them Directly Boost Sales
Videos are not only entertaining, but they’re also highly influential, which means it’s likely that a consumer will purchase a product or service after watching a video, directly boosting sales of businesses.
11. 88% of Businesses Plan to Include YouTube in Their Video Marketing Strategy
YouTube, being the second most visited website in the world next to Google and one of the best video hosting platforms, is considered by businesses to be included in their marketing strategy, garnering 88%. LinkedIn Videos along with Instagram Video level it out at 68%, while Facebook Video points at 65%. As a video marketer, you should know which channels or platforms to use for sharing videos and what your target audience is likely using to get the most out of your marketing efforts.
12. 89% of Businesses Get Good ROI From Video Marketing
In every investment you make in your business, of course, you’ll want a good ROI out of every effort you make, including time and money spent. The good thing is that you don’t need to worry about ROI when it comes to video marketing as 89% of businesses were able to get a good ROI out of their video marketing efforts. But here’s the catch; you will have to stay consistent in creating video content that resonates well with your audience because that’s where your brand will get more recognition and bring in more sales in the long run.
13. 94% of Consumers Watch an Explainer to Better Understand a Product
The video content you produce matters because a lot of people rely on them to be able to perceive a brand better as 94% of consumers watch an explainer video to understand a product. Providing the necessary information to your audience can help encourage them to push through with a purchase.
14. 32% of Businesses Don’t Have Enough Resources for Video Marketing
One of the deterrents that businesses encounter, specifically small businesses that are managed by a few people or just one, is the lack of resources and manpower to properly utilize a digital marketing strategy such as video marketing.
15. 72% of Small Businesses Create Their Own Videos
If you’re a small business owner, then you know what it feels like to wear many hats and do tasks that you’re not really familiar with just to keep the business running. More than half of the small business population, 72% to be exact, create their own videos. It’s because of the reason that most small businesses don’t outsource video marketing services because of a lack of budget, therefore, they resort to creating videos themselves.
16. 39% of Marketers Say That Lack of Time to Create Video Content is the Most Challenging Part of Video Marketing
Making a video is not an easy task, which is why 39% of marketers say that lack of time to create video is the most challenging part of video marketing. Coming up with ideas and going about the script and what details to include takes a lot of time, so it becomes a challenge for businesses that resort to producing their own videos and content.
Brands that take time to listen and understand what their customers need, benefit immensely from it because people will view your business as a viable option for that certain product or service, and eventually increase your engagement while also standing out from other competitors. However, the reality is that there are no shortcuts to good quality marketing and the results don’t come instantly, so you will have to work on it in order to produce the best results possible.
We hope that the video marketing statistics we’ve provided above will be useful in helping you understand your market and come up with a marketing campaign that fits well with your target audience.