18 Jan Welcome to 2019, the year of video!
Happy New Year!!
2019 is upon us and most of us will be staying out of the cold and planning the year for our businesses and how we are going to achieve our goals in 2019 and make it our best year in business yet.
You’ve probably heard about video marketing and the benefits a video can bring to your marketing efforts and perhaps you are wondering whether it’s worth investing in video marketing.
In this article we’ll take a look at some of the key stats and trends for video marketing in 2019 that prove that now’s the right time to get your first marketing video. By the end, not only will you understand the numbers behind the online video market, but you’ll have a pretty good idea where to focus your efforts.
Before we get into the stats and trends let’s talk about the different types of video you can use. The most common is the explainer video. You’ll often see these on the homepage of a website explaining your products and services.
Other types of video content marketing include:
- Vlogs (video blogs)
- Video interviews
- Tutorial videos
- Videos of presentations
- Product demos and reviews
- Video testimonials
- Recordings of live streams
- Video ads
Now, let’s dive into the actual data on video marketing. We’ll focus on the most up to date stats from 2018 so that your video marketing strategy is up to date.
The ROI of Video Marketing
So is video marketing really worth it? There are 3 different sets of research that have found that it is. In Understanding the Expanding Benefits of Marketing with Video, the Aberdeen Group finds that:
- Video marketers get 66% more qualified leads per year.
- Video marketers achieve a 54% increase in brand awareness.
Animoto also found that 76.5% of marketers and small business owners are generating results through video marketing.
And Wyzowl’s 2017 State of Video Marketing survey shows that:
- 83% of those using video think it gives them a good ROI; 82% think it’s a key part of their strategy.
- Of those that aren’t using video, 73% have bought a product after watching a video.
- 97% of businesses using explainer videos say it helps users understand their business better.
- 94% of businesses see video as an effective tool.
- Among those surveyed, 81% saw an increase in sales and 53% said support calls were reduced.
Key takeaway: There’s no need to wonder if video marketing is worth it, it definitely is and you don’t have to take the word of just video marketers either.
Here are two examples that show the power of video marketing. Tiger Fitness says that using video marketing has helped them achieve a 60% returning customer rate, which is three times the norm for their industry. And SAP used a video-heavy content marketing strategy to drive 9 million impressions.
Consumers and Online Video
So, how do consumers respond to video marketing? Hubspot’s research found that 45% of people watch at least an hour of video per day and Google finds that half of 18-34’s would stop what they’re doing to watch a new video by their favourite YouTube creator.
Google adds that 40% of millennials trust YouTube for content; and 60% say videos they’ve watched have changed their world view.
Video’s also an important part of the shopping experience:
- Almost 50% of web users look for a video before visiting a store.
- 79% of consumers prefer watching video to reading about a product.
- And 43% of consumers want to see more video content this year.
- 84% of consumers have bought something after watching a video.
- 91% of consumers have watched an explainer video.
However, it’s important to get the tone right. Wyzowl says 75% of consumers have not bought a product because the voiceover annoyed them. In fact, 83% prefer an informal and chatty tone.
Length matters, too, in video marketing. According to Wyzowl, 50% of consumers believe the right length for an explainer video is 1 minute.
Wistia’s research shows that videos up to 2 minutes long hold viewers’ attention; then there’s a drop off. Attention picks up again for videos between 6 and 12 minutes long.
81% of consumers mute video ads. And Digiday says that 85% of Facebook video is watched with the sound turned off.
Mobile Video Marketing
Mobile marketing is the hot topic at the moment, so most recent research has paid attention to mobile video marketing. According to IAB, marketers increased their spending on mobile and digital video ads by 95% between 2014 and 2016.
Even though Wyzowl found that 60% of people prefer watching videos on desktop computers, research from others suggests that mobile devices rule:
- According to YouTube, more than half of all YouTube video consumption is via mobile devices.
- comScore says users spend 40 minutes a day, on average, watching YouTube on mobile devices.
- Wyzowl says 90% of consumers watch videos on their mobile devices.
- And Twitter says 90% of Twitter video views happen on mobile.
Key takeaway: Make no mistake; the future is mobile.
Social Video Marketing
Video, especially live video, has become a major part of every social media site. And social media users are responding:
- Mary Meeker’s 2016 Internet Trends report reveals that Facebook gets 8 billion video views daily.
- If you think that’s a lot, then you’ll be blown away by Snapchat’s 10 billion daily video views.
Video content gets attention; that’s for sure:
- Twitter says video is 6x as likely to be retweeted as photos.
- DOMO’s Data Never Sleeps infographic shows that YouTube users share 400 hours of new video a minute.
- Meanwhile, DOMO says Snapchat users watch 6.94m videos a minute.
While Facebook is one of the main places where small businesses and professional marketers share video content, it’s not the only important social video network. According to Animoto, 53.4% of marketers see Instagram videos as important.
But with more than 1 billion users, YouTube packs a powerful punch. The site has more viewers among 18-49s than any TV Channel.
That’s why it’s no surprise that Animoto’s research reveals that 26.4% of professional marketers and 18.5% of small and medium-sized business owners say YouTube will be their main video sharing platform in the next year.
Key takeaway: These video marketing statistics show that as long as we have social media, we’ll likely have social video, too.
Video Marketing Trends for 2019 and Beyond
Our research into video marketing statistics suggest that video will be a great way to grow your network and customer base, not just this year, but in the future.
One staggering statistic comes from Cisco: By 2020, there will be almost a million minutes of video per second crossing the internet. Cisco adds that, by then, 82% of all consumer web traffic will be video.
Marketers don’t plan to be left behind:
- According to We are Social, 70% of marketers plan to use video marketing this year.
- Wyzowl says 82% plan to spend more on video.
Live video is the latest trend, and Social Media Examiner says 50% of marketers plan to use live video this year. However, not all marketers are confident about doing so; the same percentage want to learn more about live video.
It’s likely worth their time, though. Facebook says its users spend 3x longer watching live video than video that’s no longer live.
Key takeaway: Video marketing continues to evolve. It’s time to start using video so you can keep up.
These video marketing statistics show the importance of video marketing for your business, both now and in the future.