Last updated on August 2, 2020
Within the next hour, global users will watch about 200 million videos on YouTube alone.
By 2020, 1 million minutes of video will be crossing the internet per second.
A huge chunk of these videos will either contain marketing messages or will be preluded by advertisements.
So far, marketers have been able to do more with videos than any other form of content, ever.
The best part is, customers expect brands to keep the videos coming.
More than 50% of them prefer to see videos from brands over other types of content.
According to Forbes, 90% of customers say that videos influence their buying decisions.
Videos aren’t just limited to YouTube and social media.
Other marketing channels and strategies are being influenced by the use of video.
For example, adding videos to marketing emails can lead to a 200-300% increase in clickthrough rates.
Another study shows that including videos on landing pages can increase conversion by up to 80%.
Video marketing is being integrated into other strategies to optimize their results.
So far, it has been effective.
Before we go further, we should first establish what video marketing is about.
What is Video Marketing?
- 1 What is Video Marketing?
- 2 Statistics that Show Video Marketing is Effective
- 3 81% of people have been convinced to buy a product or service by watching a brand’s video. (Wyzowl)
- 4 80% of users recall a video advert they viewed up to 30 days ago. (Hubspot)
- 5 90% of users say that product videos are helpful in the decision process.
- 6 Real estate listings with a video receive 403% more inquiries. (Inman)
- 7 99% of businesses who use video say they will continue to do so in the next year. (Wyzowl)
- 8 Why Video Marketing is Effective
- 9 Your audience loves video
- 10 Video has better share power
- 11 People are watching more videos, not less
- 12 Video marketing will only get better…
- 13 Conclusion
Video marketing involves every effort to promote or market products and/or services using video content.
There are several platforms where videos can be used effectively in marketing.
The big ones are social media networks; Instagram, Facebook, Twitter, Reddit, and recently, TikTok.
There are also independent platforms such as YouTube, Vimeo, and Twitch with huge user counts.
When creating video content, marketers must be aware of the need to be platform-appropriate.
The type of content that you produce for Facebook will seem odd if posted to TikTok.
In fact, within platforms, different videos perform better in different sections.
For example, you will need different types of videos for your Instagram Live and Instagram Native Feed.
Here are the most effective types of video content for marketing:
- Brand story videos: brands use videos to explain their mission, vision, and products, and services. This type of content is used to create awareness while establishing brand recognition in viewers.
- Demos and How-Tos: these types of videos are created by brands that offer technical or complex solutions. They break down the benefits of their products and/or services and show viewers how to use them.
- Animated videos: these are proven to be visually stimulating. A study even shows that people retain 15% more information when watching an animated video than a regular one. They are best for educational videos where complex topics are simplified for viewers.
- Live streams: live streams are currently part of the top viewed videos today across all social media platforms. Some brands like BuzzFeed have mastered this strategy by putting their staff up to crazy challenges and sharing with the audience (Example: the viral watermelon vs. rubber bands video).
- Video testimonials: video testimonials are used in creating more personalized promotional messages. Viewers are more likely to feel compelled when watching someone talk about their experience with a brand than reading about it.
- Behind-the-scenes: BTS videos help brands establish a personal, even emotional connection with their audience. An example is showing viewers the people who brainstorm and create the products they’ve come to love. BTS videos also express company culture, which is increasingly becoming relevant to consumers.
Statistics that Show Video Marketing is Effective
We can agree that video marketing is a popular concept.
However, does popular mean the same thing as effective?
Here are five statistics that show that video marketing is both.
81% of people have been convinced to buy a product or service by watching a brand’s video. (Wyzowl)
Brand content, when done right, can have a significant impact on the audiences’ buying decisions.
Using videos takes this effect to the next level.
Videos are easy to consume; viewers may not even realize they are watching one until they’re halfway through.
Also, so much information can be packed into a short video.
Data shows that we process visuals 60,000 times faster than text.
It’s more comfortable to sit through a video than to read a page-long marketing message.
Videos are perfect for storytelling, which is vital in marketing.
They are also easy to understand because viewers have both visual and audio support.
Brand videos, according to this data, can encourage buyers and increase your marketing ROI.
80% of users recall a video advert they viewed up to 30 days ago. (Hubspot)
Video adverts and promotions are easier to remember than text.
Another study even shows that viewers will retain 96% of a video’s message and 10% when reading text.
For marketing to be effective, your audience should either be exposed to your messages repeatedly.
Or exposed to a message that they will not forget easily.
Video content provides brands with the creative freedom to share long-lasting messages with their audience.
90% of users say that product videos are helpful in the decision process.
If you’re afraid that your audience only wants to see funny videos and memes, there’s good news.
Consumers rely heavily on brand-provided videos to make their purchasing decisions.
About 88% of buyers will research a product online before making an in-store or online purchase.
Some brands are able to capture these leads (potential buyers) in the early stages using the right video content.
Product videos may include explainers, demo videos, reviews, and a few more.
By providing the needed information, you place your brand as a guide to potential buyers looking for help.
For example, a planning camper looking for a bonfire stove may come across this product video by SoloStove.
The short video contains the answers to potential questions any camper may have.
It even shows the product in use by campers.
So far, the video has gained 240,000+ views on YouTube alone.
Beyond the comment section, we can assume that a significant number of people have also reached out to the brand with a purchase interest.
Real estate listings with a video receive 403% more inquiries. (Inman)
While this stat is industry-specific, it can be related to other industries that require physical inspections.
People want to see what they’re buying.
Therefore, they interact better with brands that provide visual context.
Think about it.
Would you buy a product off eBay or rent an Airbnb after viewing just text details?
If you’re like everyone else, your answer will be a solid no.
You want to confirm, with your own eyes, that what you’re paying for suits your needs.
Pictures serve a great purpose, but videos are even better.
They give users a more interactive, 360-degree view that conveys a full message.
Zappos, the online retailer, discovered that their sales conversion rose from 6% to 30% when they started including videos in product listings.
Videos have proven to be more effective in driving sales than pictures and other content forms.
99% of businesses who use video say they will continue to do so in the next year. (Wyzowl)
Marketing budgets (even in big companies) are often slim.
But we see more and more marketers increasing their video marketing spending every year.
Many brands that were aggressively publishing guest articles and working with bloggers are now moving to video.
As their audience continues to favor video content, smart marketers are following along.
This effectively means following the money.
The more you cater to your audience, the higher your potential to improve marketing ROI.
Why Video Marketing is Effective
Your audience loves video
One-third of online activity is spent watching videos.
Videos are becoming easier and cheaper to produce.
Even better, quality is improving.
Anyone can shoot a 4K resolution video on a powerful smartphone.
This means that there’s more video content available than ever before.
And the audience is loving it. People are spending more hours watching videos.
As video content increases, people are finding more than enough niche content to enjoy.
There’s an endless amount of video online on any topic you could think of.
Marketers understand how to tap into these niches and find their audiences.
Now, we have segmented audiences who don’t expect a million-dollar production from brands.
Just great content.
With these two factors, it’s no surprise that video marketing is growing at its current pace.
Have you ever watched a video and thought, “I have to show this to someone else.”?
Your answer is most likely a yes.
Now, how about an article?
When was the last time you thought about sharing an article believing that the other person would thoroughly enjoy it?
Aha! I thought so.
Video has a sharing power that rivals any other content type.
Social videos generate 1200x more shares than text and images combined.
A user is more likely to send your brand video to their friends than your images or texts.
It helps that social networks make sharing a one-step process.
Users can share videos with multiple friends without leaving their primary interface.
For example, if I’m enjoying a YouTube video, I can send it to my friends on WhatsApp and Twitter without even pausing my video.
Videos are engaging and easy to digest.
When we share them, we know that the other party won’t need to do much to understand the message.
This isn’t just an assumption.
Where both video and text are available on the same page, 72% of people would rather use video to learn about a product or service.
In today’s online world of short attention spans, videos offer a considerable benefit.
With videos, a brand can easily and quickly capture the attention of an audience.
A user can passively watch a video, but they can’t passively read an article.
Once you can hold a bit of their attention, it’s a lot easier to compel viewers to take action.
In this case, videos are useful because they only require minimum effort from the audience.
People are watching more videos, not less
Unlike several content trends before, users are not getting tired of videos.
Instead, they are watching more of it.
YouTube reports that mobile video consumption alone rises by 100% every year.
It also helps that mobile apps are optimizing for video even more.
All major social networking apps now have a Stories feature.
This allows users to share short clips, which will expire in 24 hours, with their audience.
There are also live broadcast features, native feed videos, and TV styled videos (with Instagram).
More video content-based apps are being released every day.
A recent success is TikTok, which is growing faster than anyone could have predicted for a new app in 2019.
TikTok currently has 500 million users worldwide.
Current trends show that as far as video marketing is concerned, we haven’t seen it all.
Video marketing will only get better…
Cisco predicts that by 2022, online videos will make up more than 82% of all consumer internet traffic.
The rapid growth in online video data shows that their numbers may not be far off.
As videos become more popular, smart marketers will find creative ways to add and promote brand messages to their audience.
Another aspect to consider is that video marketing will also become more competitive.
As much as the audience loves video, there’s only so much each person can consume in a day.
As more similar content is being produced, they could even develop marketing blindness towards video content.
This is when viewers can subconsciously block out or ignore advertising messages due to overexposure.
To ensure your video marketing is effective, your brand should create content that can ‘compete’.
In this case, the prize is your audiences’ attention.
Don’t just create content to stay on top of the trends.
Create content that your target audience is actively looking for.
You should know who you’re speaking to, what their interests are, and the types of videos that will stop them in their (virtual) tracks.
For this information, be ready to spend some resources on audience research.
Finally, don’t be afraid to experiment.
One primary reason why video is so compelling is because of its versatile nature.
You can make results with 30-second clips as well as 2-hour broadcasts.
Keep experimenting with different content types and ideas to find what resonates with your audience.
Every business, from small to large, can benefit from video marketing.
It is useful in building brand awareness, driving sales, and creating relationships with customers.
In our digital age, where online attention is quickly moving to videos, it should no longer be seen as an optional addition.
Video plays a huge part in the tomorrow of marketing.
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