There’s no doubt that video marketing has become a core strategy for everything from startups to major corporations.
We’ve all experienced it before. You’re scrolling through Facebook or Instagram and you fly by still image ads in a fraction of a second, but the moment a video pops up you’re very likely to stop the endless scroll. So why not be the one that catches people’s attention?
Some of the main questions people ask themselves are:
” Does my audience care about video content?”
“Can I afford video production and Is it worth the effort?”
The answer to all those questions is simple. Yes.
In this article, we’re going to chat a bit about some very important statistics about video marketing for 2021 to show you the importance of video production for your company. You can also use these stats to improve and strengthen your video marketing strategy.
Now, before we dive into the stats, let’s quickly review the type of video content you can implement for marketing your company. Of course, there are video ads, product reviews, testimonials, live streams, video courses, tutorials, and one of the most popular, explainer videos. Explainer videos are a quick and personable way to describe your product or service to potential customers.
So… let’s talk stats.
THE PEOPLE WANT VIDEO
Studies show that 54% of consumers want to see more video content from their favorite brands. This tendency can be seen clearly with simple facts like the exponential growth of apps like TikTok and Reels in Instagram. People are more likely to pay attention to a video than a photo, especially if the video is able to trigger some sort of emotion from the viewer, be it joy, excitement or even sadness.
96% of people have watched an explainer video to learn more about a product or service.
89% of video marketers say video gives them a good ROI.
83% of video marketers say video helps visitors spend more time on their website
80% of video marketers say video has directly helped increase sales.
95% of video marketers plan to increase or maintain video spend in 2021.
With stats like that, you’re basically betting against yourself by NOT adding video into your marketing strategy.
“… BUT IS COVID THE RIGHT TIME TO MARKET WITH VIDEO?”
Some interesting stats about the current pandemic have shown that 68% of consumers have changed the amount of video content they’ve watched online, with an overwhelming 96% saying it increased!
When asked how they’d most like to learn about a product or service, 69% said they’d prefer to watch a short video. This compares to 18% who’d rather read a text-based article, website or post, 4% who’d like to view an infographic, 3% who’d rather download an e-book or manual, 3% who’d rather attend a webinar or pitch, and 2% who’d like a sales call or demo.
People watch an average of 18 hours of online video per week. (This is an increase of 2 hours per week compared to 12 months ago, and a staggering 7.5 hour increase per week across the past 3 years.)
People are twice as likely to share video content with their friends than any other type of content, including social media posts, blog posts/articles and product pages.
It’s pretty clear just how important video marketing has become!
Now… like everything, video marketing comes with a few caveats. Luckily they’re easy to mitigate.
Studies have shown that a large portion of consumers have been turned off of a product or service because the voiceover annoyed them. A light and informal tone is vastly preferred by viewers.
Length matters! A study by Microsoft in 2020 revealed that the average human has an attention span of ONLY 8 SECONDS. This is why we always suggest creating short videos that last maximum 90 seconds. If you have not fully engaged your audience after the first 30 seconds, you’ve likely lost 33% of your viewers, and after one minute, 45% of viewers have stopped watching.
Another important thing to remember is that most people watch videos with the sound off to begin with, so having subtitles or captions is important to help captivate your audience faster.
These are just some of the many statistics that show why video marketing is so important for every business. If you’re ready to implement video production into your marketing strategyreach out to chat with us about what that would like for your business.