No one likes outdated stats! Take a look at these insane explainer video stats – new for 2016!
If there’s one thing all marketers have in common, it’s a love of stats! Stats can help guide us towards making great decisions for our marketing campaigns.
Of course, the bad thing about stats is that they can become outdated very fast — especially in this always moving, always growing digital world.
In this article, we’re going to talk about explainer videos! Video marketing has been on a constant rise for the past few years, and it seems that the only way is up!
Here at Wyzowl, we like to keep things fresh, so we published a new video marketing survey for 2016. Below is a collection of 17 of the most insane explainer video stats we found and what they could mean for your future marketing campaigns!
93% of businesses who use video believe that it has increased user understanding of their product or service…
AND…
36% of businesses believe that they’ve received less support queries as a result!
With video, you can show and tell, making it much easier to teach people about your product or service than it would be with a manual of FAQs page.
This is shown by the fact that companies that use video get fewer support requests as a result! Cutting down on support requests is key to better customer service—let’s be honest, no customer enjoys calling with an issue. It’s a waste of their valuable time—and yours!
A quick video that can solve the most common problems faced by your users will not only increase user understanding, it will also increase their happiness and likeliness to do business with you again!
72% of businesses who use video believe that it has improved the conversion rate of their website…
WITH…
64% of businesses believing that video has directly led to increased sales!
In the same way that videos can solve problems and reduce support queries, they can also increase sales! Watching a product video is the closest a customer will get to seeing the product in the flesh before buying it. This can encourage them to commit to buying and is likely to reduce your cart abandonment rate.
45% of businesses who use video say they have an explainer video on their home page…
AND…
83% say their home page explainer video is effective!
Having an explainer video on your home page will serve many purposes. For starters, it will draw people in and keep them on your site for longer, reducing your bounce rate. Secondly, it will act as an elevator pitch — allowing you to present the benefits of your company to the customer in a very short amount of time. Explainer videos are also effective because they look great and can express your brand’s humour and unique personality a lot better than a wall of text!
61% of businesses told us they currently use video as a marketing tool…
BUT…
39% of businesses are yet to add video to their marketing strategy!
It’s hard to believe that 39% of businesses still aren’t using video as a marketing tool! Video has soared in popularity in recent years between consumers and marketers alike, with video hosting platforms like YouTube getting closer and closer to dominating the internet as each day passes. As an added bonus, because YouTube is owned by Google, hosting your videos there can boost your SEO!
The stats in this article alone should make it very clear that video is a powerful marketing tool, and no longer just a “great-to-have”, but a “must-have”. The 39% of businesses that are yet to add video to their marketing strategy are risking falling seriously behind. Let’s take a look at some of the reasons they chose not to use video…
12% of businesses don’t use video because they’re unclear on the ROI…
…10% say they lack the time to create and promote video content…
AND…
9% say they’re unable to convince the decision maker in their business that video is a worthwhile investment!
Okay, maybe we were a little hard on the 39% before. All of these excuses are pretty legitimate. Marketers are under extreme pressure to produce positive ROI, and promoting video content does take time — a lot of time! – it’s practically the only way to get your video seen.
With these little seeds of doubt, no wonder it is difficult for some marketers to convince their decision maker. But, all you have to do is look around and you’ll see that if you put in the time and effort (oh, and make sure you create an awesome video) you will see a positive ROI from your video campaign!
87% of businesses who use video say they use it on social media…
WITH…
78% saying they believe it to be an effective tactic!
Social media is the perfect place to post your video because that is where the majority of internet users spend the majority of their time. Millions of users visit social media sites every day, and if you take advantage of social media marketing you can whittle down the herd and grab the attention of only the users you want to attract. For more on social media marketing, take a look at this article.
76% of users say they would share a branded video with their friends if it was entertaining…
ONLY…
65% of users say they’d share a video if it was informative…
AND…
Just 3% of consumers say they would never share a branded video under any circumstances.
In other words, make a great video and 97% of consumers would happily share it with their friends and social networks!
These stats are highly encouraging for marketers everywhere. Getting your video shared by even just one person on social media is like free advertising to all of that person’s friends. It also gives you added credibility – after all, people are more likely to trust their friend’s word than a brands.
Closing Thoughts
Video marketing has not been on the scene long, but it looks set to stay for a long time, so if you’re among the 9% that can’t convince their decision maker that video is a worthwhile investment then show him/her this article! Better yet, check out the full survey results here.
