If video marketing is the future, then the future is here. You’re at the right place if you’ve been wondering whether it’s worth putting the resources into video marketing for your business. Do you have enough resources to create videos? Are enough people in your target audience interested in videos? And in the end, will it be worth the effort? In short: yes.
In this article, we will cover some of the key video marketing statistics for 2020 that will help prove to you that the right time for video marketing is now. Use these quick and easy video marketing statistics to help guide your video marketing strategy for 2020.
Before we get started with the video marketing stats, let’s quickly go through the types of video content that you can create to market your business. One of the main video content types that businesses use is explainer video which is a short video explaining products or services. Other popular types of video content include vlogs (video blogs), video interviews, video presentations, tutorials, product reviews, product demos, recordings of live streams, video testimonials, and video ads.
Now let’s get to the data on video marketing and what it has to say. We’ve compiled the latest statistics to make sure that your video marketing strategy for 2020, is on point.
1. Internet Users Everywhere Enjoy Video Content
More and more video content is being watched now than ever before. 85% of all internet users in the United States watched online video content monthly on any of their devices (Statista, 2018). 25-34 year olds watched the most online videos, with adult males spending 40% more time watching videos on the internet than females. The time spent by users in the United States watching video content weekly on a smartphone is also seen to be growing over time. Interestingly, Saudi Arabia and Turkey ranked in first place, with 95% of all their internet users watching online video content on any device during any given month.
2. Demand for Video Content is Increasing
The preference for video content is not just limited to entertainment purposes. Video extends to brands. Studies show that 54% of consumers want to see more video content from a brand or business they support (HubSpot, 2018).
With the increasing demand for video, many industry influencers can be seen to be proactively producing different types of video content in order to meet this rising need. The respondents of this survey claimed that video content is in higher demand particularly because people are more likely to pay attention to it. There is a higher tendency to skip parts of audio and written content. For brands to get more of the audience’s attention video is a good way to go.
3. Video as a Powerful Marketing Tool
Success with video marketing in 2018 hit peak levels. It’s not surprising if more businesses than in the past look to include video content as part of their digital marketing strategy. Marketing professionals need to be careful not to miss out on the opportunities that video content can provide for them. The 2019 report shows that87%of marketing professionals use video as a marketing tool (Wyzowl, 2019).
With the increasing demand for video content, it’s no surprise that such a large percentage of marketing professionals claim to use video as a marketing tool. Marketing professionals trust in the potential of video content to be able to increase user engagement and to improve brand trust.
4. Consumers Love Seeing Videos on Social Media
Users are seeing videos increasingly on every platform. Whether it’s on blogs, Instagram ads or simply YouTube, they are expecting more video content.Videos are aconsumers’ favorite type of contentto see from a brand on social media (Animoto, 2018).Based on the 2018 State of Social Video Marketer Trends report,73%of consumers claim that they have been influenced by a brand’s social media presence when making a purchasing decision. This statistic alone shows how videos are getting popular with the passage of time. With video becoming a great influence on consumer decisions, it comes as no surprise thatInstagram is on track to become the fastest-growing platformwhich uses video content to drive purchases.
5. Video Marketing = Profit
It all comes down to the return on investment (ROI). If we look at the numbers, 88% of video marketers are satisfied with the ROI of their video marketing efforts on social media (Animoto, 2018). The same report shows us that 80% of marketers also claim to be satisfied by the ROI of video ads that they have posted to social media.
Broadly speaking companies use video marketing to increase their sales, build brand awareness as well as trust, to keep their current customers informed, and to reach out to potential customers. The platforms most commonly used by marketers for posting social media marketing videos and video ads are Instagram, YouTube, and Facebook. A reason why video marketing is favored as a marketing tool is because of its potential