The compelling statistics behind Video Marketing
Though video is not exactly the new kid on the block, the investment in video content still keeps rising. In this article we will give you all the statistics and arguments for this.
In 2021 people watched an average of 16 hours of online video per week. And this does not even include online TV such as Netflix, HBO etc. A study from Forbes shows that the average internet user spends 88% more time on a website with videos. By the way, the same study shows that more content is uploaded in 30 days than the major US television networks have created in 30 years. This was back in 2018 so just imagine what that would look like in 2022.
According to an annual report from Wyzowl from December 2021, 86% of the asked marketers said that video has helped them generate leads. And 81% that video has helped directly increasing sales.
These are some compelling numbers when looking at the measurement of video effects, not only on traffic or engagement but also genuine impact on company’s bottom line.
Why is this? Let us dive deeper into the arguments for using video.
Why Video Marketing works like a charm
One very important reason for videos working so well is that they creates trust. Communicating through video will connect with your audience and therefore built relationships. This is because of the way our brains are built. Presentation by actual human beings in your videos show that there are people behind a brand which personifies it. And people do not buy from companies, they buy from people.
Videos are very useful for learning about products and explaining more complex messages by using visuals. Visuals are longer lasting because they are stored in our long term memory bank. But visuals are also processed 60,000 times faster than text and therefore you can pack much more content in a video without overloading your audience’s brain. Wow – we will leave that hanging.
Since more content is consumed on mobile phones, companies can reach their audience at any time, day or night. In fact 75% of all videos are played on mobile devices. Videos also engage on all platforms from Social Media channels as YouTube, Linkedin, Instagram, TikTok and Facebook, to your own website and webinar platforms. So with video your company can reach your audience and be present on many channels with relevant, engaging content.
So let us sum up. This is why video acts a Marketing Unicorn:
- People spend more time on websites with video content
- Video can personify your brand and make it more personal
- Video connects with your audience – and creates trust
- It sticks, because it is stored in our long term memory bank
- You can pack much more information in videos, because it is processed much faster than text
- Video is often consumed on mobile devices and are therefore always available
- Video helps generate leads and increases sales
All of the above make video a powerful tool. And this is also what we observe for our customers, using video as part of their digital communication.
Lights, camera, action!
The most frequent video content are explainers, e.g. product explainers. 96% of those asked in the research from Wyzowl have actually watched an explainer video to learn more about a product or service. The combination of visuals, sound, speak and storyline are an efficient way of absorbing complex content. The brain and everything.
This also makes a video a great tool for presenting the essence of one’s business and brand. This is a great way of providing authentic communication at an eye level with your audience.
We see a lot of video testimonials because they create trust and establish authenticity. This could be from your customers point of view, with the purpose of validating the company, products or services. But also employer video testimonials as part of an employer branding effort. Testimonials establish Social Proof and we are all influenced by the opinion of others.
For instance take a look at how Bravida uses video for Recruitment purpose below.
What are companies waiting for, then?
So the numbers and arguments speak for themselves. But why do all companies not invest heavily in video content?
Well, some companies:
- do not know where to start with creating video
- think it is too expensive
- are not sure how to measure the effect of it
- have just not started yet
There are many decisions to make while starting out on Video Marketing. This is also why many companies lingers. But luckily there are not many right or wrong answers: You can try something out, gather experience and make adjustments for the next time.
An easy way of starting out is to get our help with shooting ProFilm as part of your new communication material. This contains of professional film, Social Media film and/or video testimonials (Snap video). A powerful combination to reach and engage your audience.