It’s almost unimaginable that in the not-so-distant past, some brands either wrote off video marketing completely, or dubbed it “optional.” Fast-forward to now, a time when almost no brand can afford to refute these tell-tale numbers.
Video: By The Numbers
As of 2022, video is the #1 source of information for roughly 66% of the population.
Over 85% of all video views in the U.S. come from mobile devices.
People spend an average of 7 hours watching online videos every week.
93% of businesses gain new customers as a result of branded video content.
54% of consumers want to see more video content from a brand/business they support.
87% of marketing professionals use video as a marketing tool
Video marketers get 66% more qualified leads per year
88% of video marketers are satisfied with the ROI from their video marketing on social media
And still, we’re just scratching the surface of insights. Other stats give us a glimpse of the future too, a future that’s also video. Citco reported that by this year, 82% of global internet traffic will come from video streaming and downloads. Aside from the pandemic forcing many people to work and operate remotely at least part-time, when you throw in 5G’s speed capabilities, increased access to fiber-optic internet, as well as the rapid emergence of satellite-based internet options reaching remote audiences, we have a pretty clear visual of how even more screen-immersed our world is about to become. Not only does it seem there’s no limit to video penetration, but the same also applies to its audience.
And the B2B market is just as hungry for video content. They’re doing their own research online, making decisions about companies before speaking with a salesperson or representative. In fact, 92% of B2B marketers mention videos as their most-used content for demand-generation programs. Product videos, “explainer” videos, instructional videos, how-to videos, testimonial videos, etc. Use them all to your advantage, while keeping these five major “why’s” to invest in video marketing top of mind.
Why Video Is Important To Your Business
- Time is money.
It’s about the speed of information. What are people learning about you and/or your product, and how fast are they learning it? We live in a world where you are constantly competing with people’s time and attention, and people want their information fast, and convenient. Since a majority of people now consume their information via video, on their mobile devices, choosing not to use video as a tool in your marketing belt can be a risky, and costly decision. And short-form videos (think Instagram Reels, Facebook Stories, and Tik Tok) are being consumed at an astonishing level.
2. It expands your reach.
Advances in technology and the growth of video-friendly social platforms become an effective tactic for reaching new audiences. As we know, practically everyone who watches videos shares videos, and more than half of that is from a mobile device. Social channels are the new news channels. The algorithms that determine what you (and your customers) see in social feeds are now optimized to promote video content over images or text, which explains why views on branded video content have increased 258% on Facebook and 99% on YouTube. Even more telling, a video on Facebook receives 135% more organic (free) reach than a photo.
3. It engages your audience.
Video is the closest media we have to reality, “the next best thing to being there.” Just consider your own consumer experience. If you’re buying/selling a house or curious to see how a dress drapes on the body, you’ll choose video to experience the product. Why? Because it’s engaging and accurate. Aware of the demand, Facebook has made video content a priority and revealed a few key facts: video receives 1,200% more shares than text or photos; 92% of mobile video viewers share videos with others; and videos that are two minutes or less get the most engagement. And you can use video to achieve the same spike in engagement for your brand.
4. It builds brand trust.
As the saying goes, “Seeing, is believing.” People have been on the planet for thousands of years, and we are primarily visual creatures. Our brains have developed the ability to quickly take in and interpret visual information. If you aren’t providing visual information, you are failing to tap into one of the easiest and most primordial of human abilities. By offering people something interesting to look at that provides them with useful information, either directly or indirectly, they are more likely to connect with you as a person, a company, or a brand; and that subconsciously builds trust in the brain. This is, in part, due to people’s desire for human connection; especially after all the social distancing of the last several years. We all want to feel connected to others, and we want to believe that we can trust those people we connect to. And the whole point of marketing anything is to build trust and hopefully create long-term relationships, that in turn, result in sales and conversions for you. Video has shown time and again to give people more confidence when it comes to their decision-making, and it does it faster than any other medium, thus, likely building trust in you, your company, or your brand quicker than any other medium.
5. It boosts your ROI.
The benefits of video to your bottom line are unquestioned. Companies that use video increase revenue 49% faster year-over-year than those who do not. 76.5% of professional marketers and SMB owners are seeing results with video marketing. Because of its effectiveness, marketers have been quick to adopt video as a key deliverable. In fact, 51% of marketing professionals list video as the type of communication that delivers the best ROI.
Conclusion: Give the People What They Want
It helps to remember that customers, not brands, are in control of the message today. If you want to build awareness and increase sales, you have to embrace the demand or get left behind. The most savvy and successful companies today not only know their customers’ profiles by heart, they know, and can even predict, how they want to consume information. And it’s clear that they want video… and more of it.