Content marketing is becoming increasingly popular with marketers, simultaneously the technology to create quality videos has become easier and more advanced by the day. However, this is not the only reason why video has become the most dominant form of communication today. It’s an easy-to-digest format that gives our eyes a rest from the overabundance of textual information online.
What has changed compared to the last decade?
With the rise in smartphone technology, it has made watching videos easier and more convenient, just by everyone’s fingertips. Brands who want to drive results need to jump on this bandwagon of video content marketing.
Versatile and engaging content format not only gives us a real-life picture of what is going on, but it’s also easy to share across multiple platforms. Consumers like it because the content is easy to digest, entertaining and engaging, and marketers like it because it can give a potentially huge return on investment (ROI) through various digital channels.
It is also very accessible to anyone with internet access, both to watch and to produce. While there is certainly a trend towards higher quality video on a professional level, anyone can hop onto their smartphone and create their own video in under an hour and become a content creator!
Here are some useful video marketing statistics insights for businesses of all sizes by Invodo 2014. Noting, this report increased confidence and reliability as it summarizes data from several major industry sources. Some of the major points which have garnered attention in the C suite are:
- It is 1.81 times more likely for shoppers to purchase than non-viewers
- Video has the best ROI according to 51.9 percent of marketing professionals worldwide
- According to retailers, there is an increase of 40 percent in purchases as a result of video advertising
- Video results commanded more attention than other listings in an eye-mapping study of search engine results pages (SERPs),
- Smartphones are owned by 64 percent of people in the US
- It is 3 times more likely for mobile shoppers to view a video than desktop shoppers
- Product videos in stores are viewed by 57 percent of smartphone owners
Whether B2C or B2B videos are found to be educational and informative and are most useful to an audience. Consumers want to be informed and videos are the best method of communication for the buyer and seller- this is backed up by statistics and reports. When a buyer is pleased, sellers are in a good place without any disruptions of unsatisfied customers.
What type of video content enables a positive impact on ROI?
The types of video content below provide customers/buyers with informed decisions when purchasing a product or a service.
Instructional, product demonstration or “How-to” videos – this helps to educate customers on how to successfully use a product they have purchased
Explainer videos – Using creativity such as animation and live action to explain a concept, product or service
Testimonials – showcasing credibility and relevance in a particular space
Presentation videos – these are specifically targeted to a B2B audience, providing updates, and information to partners and stakeholders
Video Marketing Stats 2022
Recently The HubSpot Blog surveyed 550 marketers to learn about the latest video trends. We at Think Creative Agency want to showcase HubSpot’s data that has been derived from the survey as per below.
Key highlights are that video content isn’t just effective it is growing day by day exponentially. Here are the key video marketing statistics you should keep in mind to inform your strategy from The HubSpot Blog’s recent survey.
Did you know?…
- The primary goal of a company’s video marketing efforts is to increase brand awareness and reach new audiences according to 36% of marketers
- Video content created in-house by 37% of companies, agencies are relied on by 14%, and those with a mix of both in-house and agency-created video content is 49%.
- Company own production equipment used to create the video content according to 69% of marketers
- 61% of marketers use Adobe Premiere Pro video editing software
- The primary camera for video content is an iPhone as 44% of marketers use it
- Most companies have a dedicated team to creating video content (88%), and some companies have dedicated video support and have a team of two to five people (45%).
- According to marketers, 81% of their primary company has a budget specifically for video marketing, and 52% have their video marketing budget remaining status quo for 2022.
- According to 42% of marketers, creating video content through an external agency has better results.
- According to 69% of marketers, the biggest benefit of creating video content in-house is having creative control and flexibility.
- The benefit of working with an agency to create video content is being able to create a higher-quality video according to 68% of marketing professionals.
- According to 77% of marketers their companies use YouTube to host marketing videos.
- According to 14% of marketers video production spend is between $7,000 to $10,000
- According to 30% of marketers, it takes a minimum of 2 weeks to create a marketing video from ideation to completion.
- The most expensive part of the video creation process is the production i.e. filming, lighting and audio, according to 65% of marketers.
- According to 38% of marketers pre-production (ideation, writing the script, and casting) is the most time-consuming portion of the video creation process.
- A large percentage of 74% of companies optimize videos for silent auto-play.
- Companies leverage accessibility features in video content (78%). 65% of companies say the most common accommodation is video captioning.
- Brands publish two to four videos per month (31%).
- A small percentage such as 29% of companies started prioritizing video marketing in 2019.
- The three biggest challenges when creating video content are as follows, lack of time to create video content (39%), difficulty creating an effective video strategy (33%), and inadequate budget to create video content (31%).
Note to readers: the above video marketing statistics and data have been quoted from the HubSpot survey.
More than ever, we want to see and hear people in a real-life context – it’s meaningful and engaging. Video is one of the most popular content forms in the world and the truth is that it’s not likely to be going anywhere soon. And it makes sense: in an impersonal digital world, we’re craving connection and personality.
It’s really one of the best ways to get up close to your audience and give them a real glimpse of what you and your business or your clients are doing, simultaneously making it fun as well. The key here is to engage with the audience, being able to showcase thinking beyond profit and product — show them something about your philosophy, share some information on an interesting event, or offer some valuable information. The more they know about your positive practices, the more likely they are to stick around.
We have a team of video production experts who can assist you in getting up and running with video marketing and creating videos to meet your marketing goals. For more information, contact us today.