Video Storytelling – It really does work!
Is video marketing really worth it? A recent research effort from Wyzowl showed us that it is. In their 2023 report, Wyzowl found:
- 89% of video marketers say video gives them a good ROI.
- 83% of video marketers say video helps them with lead generation.
- 87% of video marketers say video has increased traffic to 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 2024.
Who’s Using Video Marketing
Another issue is how widespread video marketing is. These video marketing statistics suggest a lot of people are using it. 85% of businesses use video as a marketing tool.
According to Animoto, that number is even higher with 96% of marketers having placed ad spend on video.
The Content Marketing Institute’s findings are similar. Both its B2B and B2C research for 2022 show that:
- 71% of B2B marketers use video marketing.
- 66% of B2C marketers use video marketing.
Impact reports similar findings. Research conducted by BreadNBeyond shows that 81% of businesses use video in their marketing strategy. And Social Media Examiner’s Social Media Marketing Industry Report shows that 57% of marketers used live video in 2022!
Key takeaway: More than two-thirds of marketers are using videos for marketing; you can’t afford to be left out.
Video’s also an important part of the shopping experience:
- More than 55% of shoppers use online video while actually shopping in a store, says Google.
- Wyzowl says that 66% of consumers prefer watching a video to reading about a product.
- And Hubspot says that 54% of consumers want to see more video content this year.
However, it’s important to get the tone right. Wyzowl reported that 75% of consumers decided not to buy a product because the video voiceover annoyed them. An informal and chatty tone is preferred by 83% of consumers.
Length matters, too, in video marketing. According to Social Media Examiner, 80% of marketers are creating videos that are 3 minutes or less.
Vidyard’s research shows that the average retention rate for videos across the board is 52%, but the amount of time people will spend watching your videos depends on how long they are. About 68% of people will watch a business video all the way through if it’s under 1 minute. Over 20 minutes? You’re going to reach only 25% of people.
If you’re running video ads, a word of caution. According to research by Verizon and Publicis, 92% of consumers view videos with the sound off. The solution? Use captions. This same report found that 50% of consumers rely on captions because they keep the sound off.
Key takeaway: Consumers love video, but you’ve got to make it good and keep it short. Consider using a video popup the next time you build a lightbox popup or other tactical methods of sharing videos.
Video content gets attention; that’s for sure:
- Twitter says video on Twitter is 6x as likely to be retweeted as photos.
- YouTube users upload more than 500 hours of new video a minute.
- Meanwhile, 1 billion hours of YouTube videos are watched daily.
While Facebook is one of the main places where small businesses and professional marketers share video content, it’s not the only important social video network. According to Animoto, 90% of brands post video to YouTube at least once per week and 83% share video on their Instagram feed (80% share to Instagram Stories).
But with more than 2 billion users, YouTube packs a powerful punch.
Key takeaway: These video marketing statistics show that as long as we have social media, we’ll likely have social video, too. Check out our guide to YouTube SEO to get the most out of your YouTube channel.
