According to statistics, 1 billion hours of YouTube videos are viewed daily. This is just one of the pieces of evidence proving the popularity of the video.
In fact, videos often give viewers a more intuitive and memorable look than long paragraphs or articles.
For businesses, video has now become an important tool to promote and stand out from their competitors. According to Wyzowl, 85% of companies practice video as a marketing tool.
To better understand the importance of video to businesses, don’t miss the interesting facts in this article.
Why does video attract audiences?
Videos are considered more attractive, interesting, and popular as a visual form than any other content.
Video is not an option but is becoming necessary as a storytelling tool and publicity.
If you want to improve conversion and promotion, the only way to do this is through a video marketing strategy.
Over the past 10 years, online video consumption has increased dramatically.
Video marketing has become far more refined with a different package of apps and no indication of slowing down since the last decade.
Marketing experts also predict that videos will account for more than 82% of all Internet traffic, 15 times greater than its figure just three years ago.
The reason why video is so popular is that Internet users use videos to go beyond entertainment.
Today, companies and brands use video marketing to support customers in discovering their products and services through product instruction videos, expert interviews, and customer feedback.
Videos are an opportunity for businesses to build brand commitment by assisting and converting their viewers into loyal customers, enhancing customer relations.
Videos can reach a broader public with the help of subtitles, which are more accessible and easier.
Of course, only a simple video will not help your brand get effects.
To achieve success, you must design powerful, entertaining, and engaging videos that match the latest popular trends to improve your audience and brand exposure.
The importance of video marketing
Do you know how marketers have used popular video marketing? The statistics below reflect the popularity and dominance of video marketing.
85% of companies use video as a marketing tool, according to Wyzowl. This figure is even more prominent in Animoto, with 96% of marketers set ads based on video campaigns.
The Content Marketing Institutes' findings in both its B2B and B2C studies for 2020 reveal that:
Video marketing is used by 66% of B2C marketers.
Video marketing is used by 71% of B2B marketers.
Another study led by BreadNBeyond shows that in their marketing approach, 81% of companies adopt video.
Social Media Examiner's Report explains that, in 2019, 57% of marketers used live video. This means that videos are not just personal applications, they have become even more common in business.
How do consumers respond to online videos?
The customer's positive response to video marketing was shown through Wyzowl's statistics. There is an average of 16-hour viewing time of online videos per week, an increase of 52% over the past two years.
84% of respondents also said that they were persuaded to buy a product after watching the brand's video promotion.
YouTube is one of Millennials' best-known video platforms. According to Google, the famous video platform reaches more people from 18 to 49 years old than cable TV networks.
Google also calculated that the view time on YouTube videos with shopping content had increased significantly 5 times over the past 2 years in the US.
Some important contribution of video to the shopping experience through videos:
According to Google, more than 55% of shoppers watch online videos even when they are shopping in a direct store.
Wyzowl says that 66% of consumers prefer to watch a video, instead of reading text about a specific product.
A HubSpot report shows that 54% of consumers are looking for more video this year.
The 2017 survey of Wyzowl showed that voiceover is the leading customer’s choice.
75% of the respondents who took part in the survey chose not to buy something, because they got annoyed by the video voiceover.
83% of consumers are in favor of a friendly tone of voice.
Content length is also important in video marketing. According to Social Media Examiner, 80% of marketers produce 3 minutes or under 3 minutes videos.
The study of Vidyard also shows that the average recognition rate for video throughout the whole world is 52%, but how long people watch a video based on the video length.
Nearly 68% of viewers will watch a business video for less than 1 minute. With more than 20 minute videos, you reach only 25% of viewers.
Pretend that you run video ads, 92% of consumers watch the videos with no sound mode, according to Verizon and Publicis's study.
This also explains why we should insert subtitles, captions in videos.
In fact, 50% of consumers depend on subtitles and captions when they turn off the sound.
Video marketing generates potential customers
88% of video marketers are happy with ROI marketing video on social media, based on an Animoto analysis in 2018.
The corresponding report also shows that 80% of marketers also acknowledge the importance of ROI based on video ads on social media.
Video marketing helps businesses boost sales, increase brand awareness, increase trust, inform existing customers and reach potential customers.
Instagram, YouTube, and Facebook are the most used platforms to publish videos.
One of the reasons why video marketing is preferred as a marketing tool is to tell everything in a user-friendly format based on visual format. Tutorials or explaining videos are some of the most trendy ones, among others.
In 2019, video marketers took 66% more qualified leads each year, according to Optinmonster.
Optinmonster also concluded that the business brand awareness was growing by 54%.
93% of marketers also say they won a new customer’s gratitude thanks to a social media video.
Educational videos also help gain more quality leads because they win customers’ trust in businesses, but they can also educate customers about companies or products through interactive visuals.
These stats prove that there’s no requirement to second-guess the advantages of video marketing for a company. This year, video marketing will be an exceptional approach to improving your network and customer base, not just today but in the future as well.
This data emphasizes the advantages of video marketing in businesses.
Video marketing will be an excellent way to improve company networks and customer base.
The importance of social video marketing
Videos recently appears to be a component of every social media platform, especially live video.
According to Facebook, they have more than 8 billion video views each day, while TikTok reports they obtain 1 million video views a day in their first-year debut.
These figures strongly mark the popularity of videos
Within a minute, there are over 500 hours of new videos posted by YouTube users.
One billion hours is the number of YouTube videos are viewed daily.
Twitter says that a video on Twitter can be tweeted 6 times more than pictures.
While Facebook is one of the leading sites where small companies and marketers share videos, it's not the only primary social video channel.
Animoto says 90% of brands have released videos on YouTube at most once every week, while 83% of brands share videos on Instagram feed.
Some social media statistics
Before visiting a company’s site, 58% of consumers visit their social media page.
24% of customers make more purchases than last year, thanks to social media ads.
60% of consumers who purchased a brand discover that brand through social media.
In 2020, 76% of marketers tended to use Facebook video marketing.
Facebook is the number one platform that marketers are planning to dig into in the next 12 months.
In 2020, 15% of the entire Facebook content was video.
The golden time for a video Facebook to achieve ideal engagement is between 2 and 5 minutes.
Posts of accounts with 100,000 Facebook followers have 71% of video content.
12% of Facebook video posts are Livestream, and live streams have twice the response than pre-record video posts.
In 2020, 65% of marketers planned to use video on Instagram.
After watching a story on Instagram, 1 in 4 consumers decided to make a purchase.
77% of marketers chose to post a video on IGTV.
41% of marketers say that Instagram stories have become more popular in the last 12 months.
YouTube is the number one social media buying driver.
YouTube has more than 2 billion users a month.
Youtube outperformed Facebook as the number 1 platform, which affects customers’ behavior.
More than 70% of YouTube watch time comes from mobile content.
More than a billion hours of YouTube videos are watched each day.
88% of marketers are planning to use YouTube video marketing in 2020.
Globally, 83% of consumers favor YouTube for watching video content.
65% of video watchers think that YouTube is their favorite content channel.
In 2020, 38% of marketers planned to develop video marketing on Twitter.
Tweets included video offer 10x more engagements than Tweets without video.
Every day, people watch 2 million videos on Twitter.
Promoted tweets included videos delivering over 50% on the cost per engagement.
Watching videos is the number 3 purpose of Twitter’s users.
70% of all video without sound tends to be watched.
66% of the marketers suggested using video marketing on LinkedIn in 2020.
25% of marketers plan to use TikTok as an effective advertising way in 2021.
In 2020, 42% of marketers planned to host webinars.
In 2020, 12% of marketers planned to use VR videos.
In 2020, 21% of marketers thought of using interactive video.
Some signs proving that you need to invest in video
Your conversion rate is low
Your social media likes are good, the visits to the site are good, but the conversion rates are pretty low.
That means you need to invest in video. Videos can increase your conversion rate in a few ways. And we mentioned this in the previous post.
You want to improve brand loyalty
With purchasers mainly happening on smartphones, customers can compare different brand prices and buy from any store.
That’s why you have to go the extra mile to boost customer’s loyalty, and video is the key to achieve that.
You are not at Google's first page
If you don’t invest enough in SEO, it’s hard to see you on Google's first search for at least two or three of your selected keywords.
There is a reason why people joke that the best place to hide a dead body on page two of Google — nobody goes there!
And because Google prioritizes videos, so why don’t you start digging into videos?
You want to improve employee’s experience
Videos are not only a tool addressing customer needs. They can also improve boarding, training, and motivating employee’s experience.
You need to invest in videos if you find onboarding is a challenge for your company. Videos can change the first-day employee’s feeling from boring and uncomfortable to inspiring.
Customers don’t understand your product
If your product is complex, has many layers, or requires explanation, video is an attractive way to manage these problems.
Video is an old school idea that now has become a trend.
A video was the scope of film theaters and TV studios several decades ago. Only a few people can use it as a high-class marketing method.
However, it's now clearer than ever that it’s a common, friendly and easy marketing method that attracts thousands of viewers on the Internet and smartphones.
Due to the dramatic growth in the video era, we are always achieving innovative methods to engage users, and design video content for different business purposes.
In 2021, videos should be your most important focus. Whether you are running a one-person business, having a small, newly grown start-up, or working for a large multinational company, there are countless reasons to use video to boost your business.
Get acquainted with video today if you haven’t applied videos to marketing activities.
Although it may take time to wait for results, or you might not get the desired results in the first few products. But over time, once you have learned and updated the necessary knowledge, you will indeed find the secrets to make your videos more engaging and helpful.