16 Up-to-Date Video Marketing Statistics: Why Video is an Essential Part of Your Marketing Strategy
Video marketing is an incredibly powerful form of marketing that reaches your customers in a visceral manner. While many small and medium sized businesses have traditionally shied away from video, the latest data shows that video is actually an incredibly essential aspect of any business’s marketing strategy. With improvements in technology, video has become easier to create, distribute, and access. As broadband speeds improve across the world, brands which ignore video marketing are at a significant disadvantage.
We’ve compiled the latest data in video marketing to demonstrate the importance of including video in your marketing strategy. The vast majority of the data in here is from the last few years, with a few statistics from the late 2000s. We’ve done our best to use the latest and most up to date industry data. Additionally, all sources are cited to ensure the accuracy of the data.
Why Video Is Essential:
1. Video results command far more attention in search results according to an eye tracking study.
Video thumbnails catch a ton of attention in Google search results, user’s eyes are instantly drawn towards them.
2. 79% of all internet traffic in 2018 will be video.
The world prefers video as its format of choice. Consumers are becoming less and less tolerant of boring products and pages that force them to read through pages of information. Video can convey that same information in a faster and more engaging manner.
3. According to Neilson 87 percent of smartphone and tablet owners are using their devices for shopping activities.
Mobile phones and tablets are increasingly becoming more powerful and versatile. Many smartphone users are using their phones for shopping, and mobile is a platform that’s very conducive to video. Think about it? Would you rather read a long lengthy product description on a small screen, or just watch a quick video that gives you all details without the unnecessary scrolling.
4. Broadband speeds will nearly triple by 2018. By 2018, global fixed broadband speeds will reach 42 Mbps, up from 16 Mbps in 2013.
Internet speed used to be a major roadblock for online video start-ups, as well as companies who were trying to use videos for marketing campaigns. However, broadband speeds are rapidly improving to the point where nearly anyone in the world has access to high speed video streaming. Within a few years, the vast majority of consumers will be able to access full HD video with no loading wait. With our current network speeds most people are able to access videos on the go from their mobile phones.
Measurable Increases in Conversions and Other Metrics
Using Video Sales Pages consistently increase conversion rates across the board. This has been reported by a wide variety of businesses.
5. Verizon Wireless experienced a 16% lift in conversions on product pages with video.
6. Mind Valley reported a 13% increase in email signups by implementing a video on their landing page.
Mind Valley also experienced a conversion rate increase of 5 to 24% for various different types of businesses by using a video + copy combination on their sales pages.
7. On Australian real estate website domain.com.au, listings with video received an enormous 403% increase in inquiries as compared to those listings that did not include video.
8. Personal trainer Carl Juneau experienced a 46% increase in conversion rates after implementing video.
9. Vidyard experienced a 100% increase in email signups with an animated explainer video as compared to now video during their initial launch period.
10. Customers are 1.81x more likely to buy after viewing video as compared to non-viewers.
Consumers who view video are far likely to buy your product. By embedding video you are giving them the choice to receive your message in a superior format.
11. Utiliizing the word “video” in email subject lines boosts open rates 19%, click-through rates by 65%, and reduces unsubscribes by 26%
Video is the most convenient format for consumers to receive information. Watching a video is easier than reading a long winded article. Utilizing video for your email marketing campaigns is an excellent idea, especially in industries which are conducive to visuals (such as retail, fashion, self-help, health, fitness, food, and love).
12. 57% of consumers report that video increases their confidence in a purchase decision. 52 percent agree that they are willing to stay on the website longer if it contains video.
Video is a crucial part of the marketing funnel as it improves customer confidence and allows them to see the “product” in action. For many consumer products, video essentially reproduces the feeling of being in store. This allows for increased consumer confidence in the product.
Social Media and Video Statistics
Brands have started using a combination of social media and video to achieve explosive results in the art of branding. Instagram allows companies to upload short videos, while Vine is a website entirely dedicated to short and often funny clips. Longer videos are also shared very often on social media. Many of the most popular social media trends have been shared videos.
Some websites like Upworthy rely extremely heavily on sharing others videos for traffic.
13. Sharing of video ads has increased by 50 times from 2006 to 2013!
That’s an incredible figure that shows how video marketing and social media can combine to produce explosive results. For example, Dove’s Real Beauty Sketches received over 4 million shares!
14. “Since Nike implemented Instagram Video marketing, their follower count increased massively from 4 million to 12 million Followers from April 2014 to Feb 2015. As of the date of writing they are at 14.1 million followers’.”
Nike creates many short video clips and photos with its products that are often set in exotic locales. Both the photos and videos have resulted in an Instagram account with a massive outreach that acts as a free advertising channel for Nike.
15. 40% of the Top 1,000 Most Popular Instagram Videos Are From Brands”
The above figure shows how many brands are taking full advantage of video platforms such as Instagram. These brands are using Instagram to reach their core audience in fan, engaging, and value adding manner.
16. 32 percent of all social media is made up of videos.
Video is an extremely popular format in social media. Facebook and Twitter users routinely share videos on their news feeds. Instagram contains a huge number of videos, and Vine is a video only platform that has become incredibly popular lately.