Video Marketing Statistics You Need to Know in 2021
For the past decade, video has steadily grown in popularity among consumers, across platforms, and within the digital marketing world.
While video itself isn’t a new concept, the medium keeps evolving. Brands used to put out commercials on local and national television only. Now businesses create videos for their websites, blogs, online ads, streaming ads, social media, paid social media campaigns, webinars, and more.
Now, as more brands, marketers, and consumers use video, more statistics and analytics develop. The data shows how effective and worthwhile video marketing is for businesses, no matter their size.
We’ve compiled a list of statistics to demonstrate the importance of video. So, whether your business remains hesitant or you’re ready to jump in, use these stats to help inform your video marketing strategy for 2021 and beyond.
Video Marketing Statistics of 2021
We’re breaking down these video marketing statistics to show an overview, the return on investment, how consumers interact with video, and how video does on social media platforms.
Video Marketing Overview
The general stats below indicate the success and satisfaction marketers have had when including video into their overall strategy.
- 86% of businesses use video as a marketing tool. (Wyzowl)
- 93% of marketers who use video say that it’s an essential part of their marketing strategy. (Wyzowl)
- 88% of marketers are committed to contributing more dollars to video campaigns in the future. (Social Media Week)
- More than 99% of people who use video for marketing say they’ll continue using video in 2021. And 96% of people will either increase (67%) or maintain (29%) their spending. (Wyzowl)
ROI of Video Marketing
Video is an effective marketing tool that helps companies engage with consumers and drives conversions and sales.
For many businesses, the return on investment for video now outperforms other marketing methods. According to Biteable, a video animation company, 74% of marketers had a better ROI on video than static imagery, and 68% say video had a better ROI than their Google Ads.
Video content produces other results and KPIs as well. In Wyzowl’s State of Video Marketing research, the video marketers they surveyed reported the following:
- 86% say video increased traffic to their website.
- 83% say video helped increase the average time their visitors spend on-page.
- 94% say video helped increase user understanding of their product or service.
- 84% say video has helped them generate leads.
- 78% say video has directly increased sales.
- 87% say video, in general, gives them a good return on their investment.
Consumers and Video
Marketers continue to devote time, money, and resources to video because of the ROI and consumer habits. According to Wyzowl, consumers watch about 18 hours of video online every week, a 7.5 increase over the last three years. So, consumers’ video consumption is on the rise, but what does that mean for brand videos?
The statistics below show how consumers interact with and respond to video marketing:
- 96% of people have watched an explainer video to learn more about a product or service. (Wyzowl)
- 72% of customers would prefer to learn about a product or service through video. (HubSpot)
- 84% of people say that they’ve been convinced to purchase a product or service by watching a brand’s video. (Wyzowl)
- Viewers retain 95% of a message when they watch it in a video, compared to 10% when reading it in text. (Insivia)
- People are twice as likely to share video content with their friends than any other type of content. (Wyzowl)
- Online video consumption is increasing across all age groups, with the most significant increases seen in people over 46 years old. (Limelight)
- 85% of people would like to see more videos from brands in 2021. (Wyzowl)
Video on Social Media
Over the years, social platforms have invested more into video. For example, Instagram started with video posts then quickly branched out to video Stories, Lives, IGTV, and Reels.
Both brands and users benefit from this influx of video. Brands jump at the opportunity to connect with their audience that social videos provide while users enjoy the dynamic content. In fact, according to Animoto, videos are consumers’ favorite type of content to see from a brand on social platforms.
The standout platform for video is YouTube:
- YouTube remains the most used platform for video marketers for the seventh year in a row. (Wyzowl)
- About 87% of video marketers said YouTube is an effective channel for them. (Wyzowl)
- YouTube has reported the best ROI for video content, followed by Facebook and Instagram. (Biteable)
- YouTube is the #1 purchase-driver on social. (Animoto)
Based on a Wyzowl survey, here’s how marketers plan to use social media platforms in their video marketing strategies in 2021:
- 70% of video marketers plan to include Facebook
- 63% of video marketers plan to use LinkedIn
- 58% of video marketers plan to include Instagram
- 31% of video marketers plan to utilize Twitter
- 20% of video marketers plan to incorporate TikTok
How Did the Global Pandemic Impact Video Marketing?
It’s hard to move through 2021 without considering the impact of the pandemic. It limited advertising budgets, campaigns, and overall strategies for all industries and businesses.
So, in Wyzowl’s newest The State of Video Marketing report, they asked their respondents how the pandemic impacted their video marketing plans and the demand for video.
- Around 40% of marketers say their plans around video marketing have been, or are being affected, by the coronavirus pandemic.
- Out of those respondents, 74% say the pandemic made them more likely to use video.
- 60% of marketers expect the pandemic to affect their video marketing budget for 2021. Of these respondents, 70% say their budget will increase, while the other 30% say their budget will decrease.
- 68% of consumers say the pandemic has impacted the amount of video content they’ve watched online, with the overwhelming majority (96%) saying this has increased.
These results convey that despite the pandemic, video is still, if not more, important to most marketers.
That’s a Wrap!
These video marketing statistics indicate the opportunities that video content provides. Video can educate, attract, and convert consumers across a long list of platforms and channels. Whether your goal is to tell your story, connect with your audience, improve brand awareness, increase sales and conversions, or beat the competition, video will help you achieve it.
If your business wants to start using video, Nicolet Creative can help. Our team will seamlessly add video to your marketing strategy without breaking the bank. Contact us today