There's ample evidence to show video marketing is a powerful way to fire up your marketing inbound engine and build an emotional connection with customers. Sadly, few B2B companies leverage video marketing to its full potential, citing time, resources and expense as the main reasons they don’t attempt it.
However, it is fair to say companies who don’t use video as a significant part of their marketing efforts into 2021 will end up missing out on attracting, converting and retaining the attention of consumers.
In this handy 'fun fact' guide, AZK Media looks at why video marketing is crucial to your business success now and into the future.
Awareness
72% of people involved in video marketing say they use videos to raise brand awareness. In fact, according to Wave.video the number one reason for using videos in marketing campaigns is to raise brand awareness. Similarly, 66% of people use videos to generate sales.
Brand
64% of consumers will make a purchase after watching branded videos on social platforms according to Tubular Insights. A HubSpot marketing survey also found 54% of consumers consistently preferred video marketing from the brands they support, and 85% of consumers want to see more video content from brands.
Customer Journey
Video facilitates the customer journey, and 95% of people have watched an explainer video to learn more about a product or service. HubSpot reports 72% of customers would rather learn about a product or service by way of video.
Conversion rates
According to Forbes, embedding videos on landing pages can increase conversion rates by 80%.
Demand
Consumers are now watching more videos than ever and it is estimated that the average person will spend 100 minutes every day watching online videos in 2021, a 19% increase compared to 2019.
Videos in emails have been shown to increase click-through rates by over 96%. HubSpot reports adding video to emails can increase click rates by 300%.
Engagement
Videos do a great job of engaging viewers and get 1200% more shares than text and images combined.
Marketing Land reports 62% of people said they were more interested in a product after seeing it in a Facebook Story, while TechCrunch reports Facebook has over 8 billion video views per day, and Adweek says 75 million people visit Facebook’s video platform every day.
Marketing Land reports Chrome blocks autoplay ads as a way to make the 82% of consumers that hate autoplay stick around, and Insivia says a website is 53 times more likely to reach the front page of Google if it includes video.
Hours
People watch an average of 18 hours of online video per week, an increase of 2 hours per week compared to 12 months ago. In 2018, people watched an average of 1.5 hours per day of online video and this has risen to an average of over 2.5 hours per day.
Ideal
The ideal qualities consumers look for invaluable videos include: 48% want videos to reflect the specific products and services they own or are interested in, and 43% want interactivity, with the ability to decide what information they want to view and when they want to view it.
Jump
The perceived importance of video as a marketing tool has significantly jumped in the last 5 years. In 2015, around 78% of video marketers believed video to be an important part of their marketing strategy. This has increased to 93% in 2021.
Keep consumer attention
Animoto reports 85% of marketers say video is an effective way to get and keep attention online.
Landing page
People are 27 times more likely to click on a video ad than a static one. Likewise, Unbounce says including a video on your landing page can boost your conversion rates by up to 80%.
Video campaigns on LinkedIn have 50% view rates.
Leads
MarketingSherpa reports for 83% of marketers, using videos in their marketing campaigns has helped them generate leads, while videos attach 300% more traffic and help to nurture leads. According to Optinmonster, video marketers enjoy 66% more qualified leads per year.
Mobile
50% of all video viewing will be done via mobile by 2022, while eMarketer says 75% of all video plays are on mobile devices. Mobile video consumption rises by 100% every year (Insivia).
Marketing
Hubspot says 81% of businesses use video as a marketing tool, up from 63% over the previous year. In 2020, 92% of marketers said that video is an important part of their marketing strategy. Forbes reports 65% of executives have gone to the marketer’s site and 39% have called them on the phone after watching a marketing video. In B2B, 96% of businesses use video in their marketing campaigns.
New customers
93% of brands got a new customer because of a video on social media (Animoto).
Online
Cisco says by 2022, online videos will make up more than 82% of all consumer internet traffic, 15 times higher than it was in 2017. Video increases organic search traffic on a website by 157% (Conversion XL).
Products
Hubspot says nearly 50% of internet users look for videos related to a product or service before visiting a store.
Quality leads
74% of people were convinced to buy or download an app or software after watching a video on it. This compares to 84% who purchased a product or service after watching a brand’s video, and 96% who have watched an explainer video.
Retention
Studies show viewers are able to retain 95% of a message in a video compared to the 10% when reading written text.
ROI
73% of B2B marketers say video positively impacts their ROI, according to Tubular Insights, and 52% of marketers say video is the type of content with the best ROI, says HubSpot.
Sharable
Wordstream reports 92% of users watching video on mobile will share it with others, and social video gets shared 1200% more than text and images combined.
Social media
Social media posts with video have 48% more views says The Marketing Helpline.
Thumbnail
When the marketing video platform Wistia, tested video thumbnails in their emails, they saw the engagement rate increase by over 40%.
Users
Users view more than 1 billion hours of video each day on YouTube.
Visual
65% of people are visual learners, and around 90% of the information transmitted to your brain is visual.
Watch
HubSpot reports 78% of people watch online videos every week, and 55% view online videos every day.
X-ray vision
Enjoy some deeper, 'x-ray' insights into your customers. After watching a video, 64% of users are more likely to buy a product online. The top three most effective types of video content are: Customer testimonials (51%); Tutorial videos (50%); Demonstration videos (49%), according to Curata.
YouTube
YouTube is the second most popular website after Google, and 65% of people use YouTube to help them solve a problem, says Google. YouTube is now the second-largest search engine in the world, processing more than three billion searches a month which equates to 100 hours’ worth of videos uploaded every minute of every day. That’s bigger than Bing, Yahoo, Ask and AOL combined.
Zero
Almost zero percentage of marketers plan to reduce video marketing spending in 2021. In fact, 95% of video marketers plan to increase or maintain video spend in 2020.
At AZK Media we have a proven track record of bringing video marketing campaigns to life in so many exciting ways. Contact us to find out how we can help.