Video marketing has never been more important, in fact, a whopping 86 percent of businesses use video marketing to promote their products or services!
There are several industry statistics that back up the importance of switching to and incorporating video in your marketing strategy that it’s important for businesses to know about, and as a video production company we see these statistics play out in real time every day.
94% Say Using Video Has Increased Consumer Understanding of Their Product
The most important thing any type of marketing can do is properly explain what your company’s products or services actually are. Fortunately, video marketing makes it much easier to get your point across.
In a simple 15 or 30 second spot, you could achieve more than you would with a month’s worth of written content.
73% of Your Intended Audience Prefers Short Videos
The vast majority of consumers have expressed a preference for getting information via a short video.
If you compare this to the 11 percent of people who would rather read an article, you’ll see that video simply cannot be beaten. Of course, the best way to win is by combining both approaches, along with infographics, eBooks, webinars and demos to pick up the remaining 16 percent.
95% of Viewers Retain the Marketing Message
The most important piece of marketing is ensuring that consumers will retain the most vital message of your ad.
When someone reads a blog post, for instance, they walk away from it with about 10 percent of the message. Watching a video is an entirely different experience, and it leads to a retention rate of 95 percent.
Grow Your Revenue 49%Faster with Video Marketing
The ultimate goal for any business is to increase revenue. There are many marketing techniques you can try, but statistics show that using videos will help your revenue grow 49 percent faster than any other technique.
Therefore, if you want to see notable growth throughout the year, you’ll want to start incorporating video into your marketing plan.
75% of Consumers Prefer Horizontal Videos
Most consumers will view your video on a mobile device, which makes it imperative to choose the right angle.
Although Facebook and a few other platforms have been trying to push marketers toward vertical videos in recent years, consumers have shown a vast preference for horizontal videos.
Statistics indicate that you can capture 75 percent of viewers by choosing to make your video horizontal, rather than vertical.
Use Video Captioning to Capture 50% More Viewers
Watching a video online is very common, but did you know that 92 percent of viewers keep the sound off? Of these 92 percent, half rely solely on captions to understand what’s happening.
There are many easy ways to add captions to your videos, so make sure that you do so. Otherwise, you’ll be leaving 50 percent of your potential consumers behind.
Keep Your Videos to 90s or Less for 53% Retention
Your video’s time frame needs to fall within certain parameters for maximum effectiveness. For example, a video that’s 90 seconds or less will retain 53 percent of viewers until the end. Videos that are longer typically retain a mere 10 percent, so choose a longer format at your own risk.
Most companies have heeded this warning, as 56 percent use videos that are under two minutes. If your video is very, very good, you may even retain 77 percent of your viewers. However, this only happens for the top 5 percent of all videos.
Use YouTube to Tap into 65% of the Marketplace
YouTube is the clear winner when it comes to videos, including advertisements. A staggering 89 percent of marketers prefer to use YouTube’s platform. Meanwhile, 65 percent of consumers also prefer YouTube, which makes it the best outlet for your marketing budget.
Even more impressive is the fact that 62 percent of all searches on Google lead to a video result. Of these, 80 percent come from YouTube.
54% of Consumers Want to See More Marketing Video Content
Believe it or not, over half of global internet users want to see an increase in the amount of marketing video content. This provides a big opportunity for companies of all sizes, especially when you consider that 83 percent of users already consume video content.
Additionally, 45 percent of consumers are interested in seeing more live videos from their favorite brands.
If you dedicate time for even one live video per month, you will attract more viewers who are open to hearing your marketing message.
Explainer Videos Account for 72% of Videos and Consumers Are Watching
There are four main types of video marketing: explainer videos, presentation videos, testimonial videos and sales videos.
Explainer videos account for the majority share, and the good news is that consumers are paying attention.
- Videos that explain how a product or service works have been viewed by 96 percent of consumers.
- Of these, 84 percent have decided to purchase a product or service as a result of watching an explainer video.
As you can see, video marketing has skyrocketed! If you’re not currently using videos to get your message across, you risk being left behind. Remember: 86 percent of businesses have already gotten on board with the importance of video marketing.
An easy option to begin with is an explainer video that lasts no more than 90 seconds. If you can put your ad on YouTube, you’ll be in a good position to make sure that you capture many new eyes.