At this point, it’s safe to say that videos are ruling the digital world. And today, we will be spilling the secrets of how to leverage the top video marketing statistics for your brand.
It’s no hidden secret that digital media has revolutionized the world of marketing as we know it. Think about it; you’re more likely to look at a video screen than a static billboard. There’s no doubt that video content, or any graphic content that moves, is more eye-catching than static content.
This is why almost any brand you come across will probably have a digital marketing strategy that involves video marketing in one way or another. Whether it’s ads or video content on your social media, video marketing itself has been a game-changer in terms of engagement and brand reach.
How video marketing statistics can be a game-changer
Think about brands like BuzzFeed; at one point, nearly everyone with an internet connection knew who they were due to their killer video marketing game.
So, how do you start?
The answer is simple; research.
Research is the first step to revamping your video marketing strategy. And luckily for you, we’ve done the boring part of researching. So let’s launch into it!
By research, we don’t necessarily mean opening up your nearest marketing book. Statistics are more reliable sources of information, and there’s a couple of reasons why.
6 Video Marketing Statistics That Can Be Game Changers For Your Strategy
So, without further delay, let’s dive into some game-changing statistics you need to know right now to begin revamping your video marketing strategy!
1. Why Video Marketing Matters
If you still don’t have a video marketing strategy and are on the fence about implementing one for your business, this is your sign of leaping! It’s what 87% of marketers are doing right now, according to research in 2019.
Video marketing is typically conducted through social media, considering it’s the most cost-effective way to mass distribute content. Your brand’s content determines its personality, as well as its social media presence. According to statistics, nearly 75% of consumers felt compelled to purchase a product based on a brand’s social media content.
In comparison to photos, video content receives 38% more engagement. It’s essential, and we cannot recommend brands, especially those starting, to give it a shot!
2. Boosts ROI
Your Return on Investment (ROI) is what makes any marketing efforts worth the hassle. According to a study, 80% of marketing professionals see a satisfactory ROI on their video marketing campaigns.
The reason video marketing does so well is simple; information relayed through visuals is better received, more entertaining, and eye-catching than static posts. This is why brands see improved ROIs when they begin incorporating video content into their marketing strategies.
3. YouTube Reigns Supreme
If you’re wondering which streaming or social media platform works best to get you that ROI, it’s YouTube! Some things never change; YouTube has reigned supreme as the go-to video streaming platform for billions since its inception in 2005. Since then, YouTube has gotten over a billion visitors every day, who collectively stream over a billion hours of video content every single day. That’s an impressive number! This is why YouTube is the best platform to conduct your video marketing.
If you’re wondering what the second-best option is, it’s Facebook, with over 100 million hours of video content streamed daily!
4. More Conversions
Conversions are the ultimate goal for anything you do for your business; without conversions, your cash flow slows down, halting every other business process. So obviously, while video marketing aims to entertain or engage, ultimately, you want that engagement to get you conversions.
Statistics show that video marketing, if successful, has the potential to turn a lead into an end-user or conversion. According to a survey, 8 out of 10 customers made a purchasing decision by seeing the brand’s video content. In the same study, up to 96% of consumers watched a video to learn more about a given product. If you ask us, that’s a rather large market to tap into, with the potential to increase your brand’s reach exponentially.
5. Growing Web Traffic Share
Video streaming platforms see staggering web traffic every single day. The average teen user spends nearly 7 hours a day watching videos. The average internet user is more likely to turn to videos for information than mainstream broadcasting mediums like TV or radio.
The estimated web traffic share for video streaming platforms is expected to be 82%! If you’re thinking of conducting your video marketing through Instagram or Facebook live, you’ll be pleased to know that the web traffic on live video streaming is expected to grow 15 times its current number in 2022.
According to another study, 1 billion gigabytes of video content was consumed in 2017, and we’re assuming that number has increased two or three times since then! Video content sees billions of users every day, and any brand looking to make it in the current digital age should develop a video marketing strategy.
6. Global Streaming Market Growth
According to research conducted in 2020, the global streaming market grew 55% of its previous value in 2019. That means the value increased from 103 billion USD to 165 billion USD in just a year! Another study by Diode Digital shows that video marketing is up to 600% more effective than static ads and direct mail combined!
By investing in video content creation, you’re likely to see a higher ROI through a more effective marketing medium. Video content helps your consumers understand your product more and see it in action in a visually appealing way.
Maximize productivity and improve video assets with GoVisually
If you’re still not entirely convinced about video marketing being a worthy investment, here is a bonus statistic; 55% of consumers reported wanting to see video content from their favorite brands.
The demand for video content is increasing because of the popularity of this medium; information delivered through video is easily digestible, more precise, and more appealing. Our movie-and-tv-loving world population craves visual entertainment. As a business, it’s an intelligent decision to clock into this growing demand and become the “supply” part of the equation.
And this is where GoVisually can help improve your video reviewing process. You can sign up for a free trial today and test it out yourself. Video marketing can be a game-changer for your conversion rate and ROIs, and these video marketing statistics prove precisely why.
But if you want to make the most of it, your video approval strategy would have to be equally efficient and GoVisually helps you establish an error-free and easier video review process.