According to Wyzowl, 91% of businesses use video as a marketing tool – maintaining an all-time high since they started tracking this data in 2016. Video marketing has evolved significantly since the debut of the world’s first television commercial on July 1, 1941. Starting from its modest origins on TV to its rapid expansion across various social media platforms, video marketing has experienced remarkable changes, contributing to the extensive digital marketing scene we witness today. Bulova debuted the first ever paid television advertisement before the Brooklyn Dodgers vs. Philadelphia Phillies game on WNBT (today known as WNBC). And the rest is history.

Why Video Marketing is Important for Your Brand

Video marketing is exceptionally effective due to its unparalleled ability to engage and captivate audiences. Unlike other forms of content, videos combine visuals, audio, and storytelling to create an immersive experience that resonates with viewers on both an emotional and intellectual level. This emotional connection fosters brand loyalty and drives consumer action. Additionally, videos facilitate better information retention, as viewers are more likely to remember and understand the message conveyed in a video compared to text or static images. Furthermore, the versatility of video content allows businesses to convey various messages and cater to diverse audience preferences. With the widespread availability of video-sharing platforms and the increasing popularity of social media, video marketing offers businesses an opportunity to reach and connect with a broader audience than ever before, making it an indispensable tool in modern marketing strategies.

Here are Some Benefits of Video Marketing:

1. Increased Engagement: Video content is inherently more engaging than text or static images, capturing viewers’ attention and keeping them engaged for longer periods.
2. Improved Brand Awareness: Video allows businesses to showcase their brand personality and values in a dynamic and memorable way, helping to increase brand awareness and recognition.
3. Enhanced Customer Trust and Loyalty: Video content can help build trust and credibility with your audience by providing valuable information, demonstrating product features, and sharing customer testimonials.
4. Higher Conversion Rates: Studies have shown that incorporating video into marketing campaigns can lead to higher conversion rates, with viewers being more likely to take action after watching a video.
5. Expanded Reach: With the rise of social media and video-sharing platforms, video content has the potential to reach a wider audience and increase brand visibility.
6. Improved SEO: Video content can help improve search engine optimization (SEO) by increasing dwell time on your website, driving more traffic, and improving your website’s search rankings.
7. Versatility: Video content can take many forms, including product demonstrations, tutorials, testimonials, and behind-the-scenes footage, allowing businesses to tailor their content to suit their audience and goals.
8. Measurable Results: Video marketing offers the ability to track and measure the performance of your campaigns, allowing you to analyze metrics such as views, engagement, and conversion rates to optimize your strategies for success.

Overall, video marketing offers numerous benefits for businesses, ultimately driving sales and revenue growth.

Current Statistics on Video Marketing

Video Marketing Usage

• 88% of video marketers consider video an integral component of their comprehensive strategy.
• Impressively, 87% of marketers acknowledge that video yields a direct, positive impact on sales—an all-time high in reported sentiments.
• According to Animoto, 92% of businesses are satisfied with the ROI of their video marketing on social media.
• 91% of businesses are currently harnessing video as a pivotal marketing tool, marking an unprecedented high.
• The recognition of video’s significance within marketing strategies has soared to 96% among marketers, marking the highest proportion observed over the past nine years.
• 52% of companies say they create videos to educate their target audience about their products.
• It is projected that from 2017 to 2024, digital video ad expenditure is expected to increase 9%.
• 99% of marketers claim they will continue to use video in their approach.
• 69% of companies have invested in paid video ads.

Video Marketing Consumption

• 91% of users want to see more video marketing content from businesses.
• 91% of people have watched an explainer video to learn more about a product or service.
• 82% of people have been convinced to buy a product or service by watching a video.
• 87% of consumers say video quality impacts their trust in a brand.
• More than 90% of people discover new brands on YouTube and over 40% of global shoppers say they have purchased products they discovered on YouTube.
• 80% of users switch back and forth between online search and video content when researching products.
• When asked how they’d like to learn about a product or service, 44% say they’d most like to watch a short video. This comfortably beats off other materials such as ebooks or manuals (16%), infographics (15%), text-based articles (13%), sales calls (6%) or webinars/presentations/pitches (5%).

Video Marketing in Social Media Platforms

• YouTube remains the most successful video marketing platform for marketers, with 78% reporting it to be effective.
• Facebook is the second most popular video-sharing platform, with 70% of marketers preferring to use it.
• Of the marketers who posted video content on LinkedIn, 75% reported that it was successful.
• 90% of Instagram users follow at least one business.
• More than 50% of social media marketers create content for YouTube.
• Facebook video ads are used by more than 73% of marketers to promote their products or services.
• A study by YetPo revealed that 30% of Instagram users purchased the product after discovering it from the platform.

Analysis

The current statistics on video marketing paint a compelling picture of its widespread adoption and effectiveness across various aspects of business strategies, consumer behavior, and platform preferences. With a significant majority of video marketers (88%) considering video an integral component of their comprehensive strategy, it’s evident that businesses recognize the value of incorporating video into their marketing efforts. Furthermore, the acknowledgment by 87% of marketers that video yields a direct, positive impact on sales underscores its effectiveness in driving tangible results. This sentiment is reinforced by the high satisfaction reported by 92% of businesses with the ROI of their video marketing efforts on social media.

Moreover, the unprecedented adoption of video by businesses, with 91% currently harnessing it as a pivotal marketing tool, reflects its growing significance within marketing strategies. This recognition of video’s importance has soared to 96% among marketers, marking the highest proportion observed over the past nine years. Additionally, the statistics on video consumption highlight consumers’ strong preference for video marketing content, with 91% expressing a desire for more video content from businesses. This demand is fueled by the effectiveness of video in conveying information, as demonstrated by the high percentage of individuals who have watched explainer videos (91%) and have been convinced to make purchases after watching videos (82%).

Furthermore, the impact of video marketing extends to social media platforms, with YouTube emerging as the most successful platform for marketers, followed by Facebook and LinkedIn. The high engagement levels on platforms like Instagram, where 90% of users follow at least one business, further underline the importance of video content in social media marketing strategies. Overall, these statistics underscore the transformative role of video marketing in shaping business strategies, driving consumer engagement, and achieving marketing objectives in today’s digital landscape.

Conclusion

The surge in video consumption emerges as an undeniable trend that businesses must acknowledge. The increased popularity of video consumption as users increasingly rely on smartphones to access video content on the move. As a result, businesses are recognizing the potential of video marketing and integrating it into their marketing strategies. As they continue to leverage video content to engage consumers, build brand awareness, and drive sales, video marketing is poised to be the future of content creation.