Video is everywhere. From websites to vlogs to social media, video is ruling digital platforms. And, that doesn’t count more traditional television and on-demand video channel, which continue to deliver impressions. Given the popularity of video, what’s worth investing in 2023? Let’s go over a few statistics that can help your decision making:
Demand for Video Content is Increasing
While we know you enjoying bingeing your favorite TV show, that’s not the video content we are talking about. Studies show that more than half of consumers want to see more video content from businesses they support. In short, video has become one of the preferred content channels for consumers. The same study shows that customers are more likely to pay attention to videos over it’s written counterpart. Getting ahead of this trend by investing in video content produces results.
Video as a Powerful Marketing Tool
Nearly 87% of marketing professionals list video as a tool to market their business. Of those professionals, over three-quarters have identified video as a contributing factor to increased sales and traffic to their website. In other words, if video is not a part of your marketing plan, you should make it!
Video Marketing Produces Return on Investment
Of course, if the cost for video marketing exceeds the return on investment, why would you do it? Studies have shown that eight out of ten marketers have been satisfied with their returns for video marketing, especially those using social media channels.
Companies use video marketing for a variety of reasons (increase sales, build brand awareness and trust, keeping their current customers informed, and reach out to potential customers) which makes calculating ROI difficult. Studies also show that video marketing is an effective channel throughout the entire buyer’s journey.
Video Marketing as a Lead Generation Channel
Video marketers get two-thirds more qualified leads per year. Period. It’s also noted that video marketers achieve an increase of 54% in brand awareness. Additionally, over 90% of marketers have landed a new customer because of a video on social media.
There’s not only an increase in the quantity of leads, but also in quality. Customers gain trust in your company and educate themselves about your brand, services and products through interactive visuals.
Video Dominates Internet Traffic
Video continues to increase its market share in internet traffic. Current estimates say that 82% of the global internet traffic comes from video streaming and downloads (that’s almost a 90% increase since 2017!). If you think that’s going to change, think again. Platforms like Facebook, Instagram and Google continue to pour more money into the video portions of their platforms. The addition of video platforms (like Tik-Tok) only solidify the fact that video is here to stay.
The best part of today’s video marketing is that companies of all sizes can see advantages. While large production crews are sometimes necessary, smaller video crews create amazing high-level content these days. And, with motion graphics and animation services so readily available, video is a great tool for any business.