By telling a story through video marketing, you have the power to connect with your audience on a much deeper level.
This can ultimately help you generate brand awareness, provide value, and direct more traffic back to your website. And yes, it can even assist you in landing conversions as well.
However, producing video content can be costly when you consider the time, effort, and equipment that’s involved - whether that's working with a video marketing agency or doing it in-house. For that reason, many brands are hesitant to jump on board.
If you’re on the fence about whether or not it’s worth the investment for your brand, this post is for you.
We’ve compiled some video marketing statistics that highlight how effective it’s been for other businesses so you can see how valuable it can be to your online presence.
The right time to create video content is now. And no, you don’t have to be a pro with the camera in order to get started. These statistics show just how popular video marketing currently is and that it shows no signs of slowing down any time soon.
According to data collected by Statista, there were over three billion internet users watching streaming or downloaded video at least once per month in 2022. This number is projected to increase annually, ultimately reaching nearly 3.5 billion by 2023. In the U.S. alone, there were approximately 244.4 million video viewers in 2020.
In 2021, it was reported that online videos had an audience reach of 92% among internet users worldwide. The most popular types of videos during this timeframe were: music videos, comedies and viral videos, and tutorial or how-to videos.
Proving the popularity of video content, Cisco reports that 82% of global internet traffic will come from either video streaming or video downloads in 2022.
For B2B companies, the most popular type of video content to create in 2020 was product videos.
Sharing details about your business and its products can be an effective way to drive an increase in sales. How-to videos and explainer videos were also a widely used choice. 47% of global B2B marketers were creating training videos and 41% were developing social ads.
Even though the value is made clear by these video marketing statistics, there are still a number of marketers who face challenges when creating this type of content. Statista conducted a survey with a group of content marketers based in the U.S. who are actively creating videos to find out what their biggest video challenges were. Here’s the outcome of that survey:
Next, let’s dive into some usage-related statistics that show who is consuming video content and how much they’re watching on average. This data reaffirms that many people are enjoying online videos, giving marketers even more reason to make video creation part of their content strategy.
Between videos being shared on YouTube and different social media platforms, it’s easy to start racking up those video views throughout the day. Research shows 84 minutes per day is the global average for video consumption.
China and Sweden lead the way when it comes to the amount of time spent watching videos. Both countries spent approximately 103 minutes per day watching videos online in 2019. These statistics will certainly increase each year.
It’s no secret that the Millennial generation (those born between 1981-1996) spends quite a bit of time online. And it appears that a good chunk of that time is spent watching videos. According to research from Statista, 14.9% of Millennials watched 10-20 hours of videos per week. These are important video marketing statistics to be aware of because it’s a good sign that you can reach a Millennial audience through video content.
In a 2020 study from Statista, it was discovered that 82% of teens and young adults (ages 15-25) in the UK were using YouTube to consume video content. This made the video sharing platform more popular than Facebook, WhatsApp, and Instagram.
Social media is clearly one of the hottest ways to share video content online. Whether you’re using Facebook, Instagram, or any other platform, it’s an effective way to reach your audience and establish a connection. The key to making video work for you is being where your audience is. These video marketing statistics show which platforms to consider in the year ahead.
When it comes to sharing long-form video content, YouTube is the platform that reigns supreme. Data shows that 89% of marketers planned on using it in 2021. Not only is it a great place to share product videos and tutorials, but it’s ideal for uploading behind-the-scenes vlogs as well. And with the addition of “Shorts,” marketers can post shorter, TikTok style videos as well.
Facebook falls just shy of YouTube with 70% of marketers planning to use it for their video marketing.
Your video marketing efforts don’t have to be centred around pre-recorded videos. Live video is still a popular way to reach your target audience and to discuss your business and its offerings. Data shows that the favoured platform for going live is Facebook.
These days, there are a few ways we can consume video content. We watch videos on our desktop computers, our smartphones, tablets, and even our televisions. Which one we choose typically depends on personal preference and where we happen to be when we stumble upon a captivating video.
With so many options, marketers need to remember to create video that accommodates each device. However, it’s clear that mobile is a popular choice since our smartphones tend to be with us everywhere we go. Here are some mobile-specific video marketing statistics you should know:
Data shows that about 90% of consumers use their mobile devices to watch video content. This is likely because of its convenience, as we can access our phones at a moment’s notice to search for and consume content. Knowing that so many people are watching videos on smaller screens, it’s important to optimize your videos accordingly.
YouTube’s data backs up this sentiment, stating 70% of video consumption on their platform is done via mobile devices. Odds are, people are using their phones to watch videos while commuting, during lunch breaks, and those random moments when boredom strikes.
Of course, the ultimate test in determining whether or not video marketing is a worthwhile investment is the ROI (return on investment).
As with anything in business, you want to ensure you’re generating results (traffic, engagement, conversions) from the content you’re putting out into the world.
Here are some video marketing ROI statistics that show the results others have received:
According to Animoto, 88% of video marketers are satisfied with the ROI of their video marketing on social media. Similarly, 80% also said they’re satisfied by the ROI of video ads they’ve run on social media platforms. If other businesses are pleased with the results they’ve gotten, that’s a good sign it’s worth considering.
In a survey, 86% of marketing professionals reported that they used video as a marketing tool. 78% of those marketers felt videos have directly increased sales for their business. 86% said videos helped to boost traffic to their website. More traffic and more sales? That’s always a win!
There’s no denying that you’ll likely have to put in some money upfront in order to get started with video marketing.
You may want to invest in equipment, such as a camera and microphone, if you aren’t going to be recording with your smartphone. Then, there’s the cost of editing software or hiring an editor. These types of expenses will vary depending on what you choose to spend.
However, if you’re planning to run video ads, you may be curious what it’ll cost you to get an ad up and running.
While this will vary depending on the type of ad and your industry, these video marketing statistics will give you an idea of what to expect:
Clearly, there are some content marketers that recognise the power of video marketing! In September 2021, Statista conducted a survey featuring a group of content marketers in the U.S. who are already making videos. 60% of them said they planned to increase their video budget for 2022, allowing them to take their video marketing to the next level. 24% of those marketers said they intended to increase their budget by 9%.
Video ads are currently raking in billions of dollars annually and it shows no signs of slowing down any time soon. According to Statista, video advertising spending in the U.S. was estimated to be $55.34 billion in 2021. It’s anticipated that number will increase to $78.5 billion by the end of 2023.
YouTube is one of the biggest platforms for video ads, as marketers are able to target the 2.3 billion people worldwide who use YouTube at least once per month. It’s estimated that running an ad on the platform has an average cost-per-view of $.010-$.030. To reach 100,000 viewers, you’re looking at spending around $2,000.
Finally, let’s dive into a couple of video marketing for business statistics that show why video is a great move for any business. Although video requires time and financial commitment from businesses they chose to invest in it, the return will likely provide tremendous benefits.
To make it quite simple, consumers love video content. According to Animoto, 73% of consumers have been influenced by a brand’s social media presence when making purchasing decisions. So if a consumer loves your content, they’ll be more inclined to buy. All the more reason to create great videos!
Video marketing is popular with both B2B and B2C companies, as it’s a beneficial way to reach audiences of all demographics. According to data gathered by Content Marketing Institute in 2020, 71% of B2B marketers are using video marketing. 66% of B2C marketers are creating videos.
It turns out, a lot of people rely on videos to learn more about various products and services. 96% of people, in fact! That’s a good reason for brands to get on board with video marketing so they can have content ready and waiting should potential customers search for what they’re offering.
There’s no time like the present to get started with video marketing!
Use these statistics to shape your video strategy and the content you produce. Done right, a great video can help you develop a strong connection with potential customers that can lead to more website traffic, increased engagement, and conversions. And who wouldn’t want that?
If you're looking for a video marketing partner, then check out some of the work we've done for our clients at The Social Shepherd