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.
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.
The general stats below indicate the success and satisfaction marketers have had when including video into their overall strategy.
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:
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:
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:
Based on a Wyzowl survey, here’s how marketers plan to use social media platforms in their video marketing strategies in 2021:
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.
These results convey that despite the pandemic, video is still, if not more, important to most marketers.
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