Stats are important. We use them to make informed business decisions. The problem nowadays is, stats are everywhere, and it’s difficult to filter out the ones that are no longer relevant (because they’re based on data from forever ago) from the stats that are essential for your business.
But don’t worry, Wyzowl‘s got your back.
We’ve compiled a list of 20 essential video marketing stats for your business. These stats cover all aspects of video marketing, and they’re all from studies that are no more than two years old.
Let’s take a look…
(scroll to the bottom for a list of sources)
1. Businesses using video grow company revenue 49% faster, year-over-year, than organisations without.
If your business isn’t growing, it’s dying. One surefire way to know that your business is heading in the right direction is if your revenue increases. An increase in revenue tends to mean an increase in employees and an increase in the amount of work that comes through the door, so by investing a small amount in creating an explainer video, your business could get a lot in return
2. 76% of businesses said that video has helped them increase traffic to their website.
This stat is essential for anyone looking to grow their business. 76%! That’s an amazing increase in traffic. If more people visit your site, it will become more popular and your SEO will go through the roof. That is why website traffic is so important. Besides, consumers can’t buy or download your product or service if they don’t visit your website!
3. Over half (53%) of businesses said that video has helped them reduce the number of support calls that they receive.
This is good news all round. By reducing the number of support calls you receive, you’re not only saving time, efficiency, and therefore money on your end, but you’re also making your customers happier too. No one likes to be stuck on hold and passed from department to department.
If there are a couple of queries that your business gets on a regular basis, creating a video series is a really cost-effective and engaging way to quickly answer these questions for your customers.
4. People spend on average 2.6x more time on pages with video than without.
The amount of time people spend on your landing pages is important. It’s a signal that tells search engines how ‘useful’ your site is. Video can help to reduce your bounce rate (the number of people who navigate away from your site after a short amount of time) and therefore improve your SEO.
5. The average watch length of a single internet video is 2.7 minutes.
When it comes to video marketing, length is always a hot topic. People will tell you that shorter is better, but this statistic proves that you don’t have to cram everything into 30 seconds to engage your viewers.
If you create an explainer video with great graphics and an interesting story that viewers can connect with on an emotional level, you don’t need to stress about length.
6. 84% of consumers have been convinced to make a purchase after watching a brand’s video.
Online shopping is growing in popularity by the day. It makes sense: it’s convenient and it’s easier to be thrifty online than in the real world. But we’ve all had that one really unpleasant experience, haven’t we? The one where the cool beanie hat you ordered turns out to be more like a tea cosy.
Yeah…
There’s a reason that 84% of consumers are convinced to purchase after watching a video — it’s because they can see the product in use and therefore feel more confident in what they’re ordering.
7. 79% of consumers would rather watch a video to learn about a product, than read text on a page.
We all prefer to learn in different ways. The VARK model identifies four primary types of learning: visual, auditory, reading, and kinaesthetic. The great thing about video is that it has the potential to cover three of these four learning techniques: visual, auditory, and reading. So it’s no wonder most people prefer to watch a video to learn about a product.
If you’re seriously considering creating an explainer video for your company, then a great question to ask yourself here is:
How would I prefer to learn about a product? Do I tend to choose videos over written descriptions?
8. The most popular viewing time for digital video is Wednesday between 7AM-11AM PST.
This is an interesting stat, but considering that the research only covers one timezone, it should be taken with a pinch of salt. Still, it is interesting to study the viewing habits of your own customers to improve the results of future video marketing campaigns.
9. 47% of businesses who use video use it in their email campaigns. Of these, 80% believe it to be an effective tactic.
Email can be considered as the ‘Old Guard‘ of marketing. Email marketing has been around almost as long as the internet itself, and it has evolved so much in that time. In recent years, email has become more of a personal marketing channel because people carry their emails around in their pockets (via smartphones!), so if you have an explainer video, don’t be shy about sharing it with your email list.
10. 87% of businesses who use video say they use it on social media. Of these businesses, 78% say they believe it to be an effective tactic.
Social media is another personal marketing channel. Whatever you post to social media can reach your customers in seconds. By posting videos on social media, you can increase customer engagement and also the awareness of your brand online.
11. Only 28% of companies pay for online video hosting.
One of the biggest qualms about video marketing seems to be the cost. But, if the stats above haven’t proved it already, videos really are cost-effective!
Think about it:
You pay a one-off fee to get your video created and then it’s at your disposal for as long as you want, other costs (paid promotion, for example) are optional. The same applies to online video hosting. You don’t have to pay for video hosting, there are a lot of free options.
12. 90% of consumers watch videos on their mobile. 60% of consumers prefer to watch videos on their desktop.
This is an important stat because it shows just how important it is for all of your marketing collateral, not just video, to be responsive for mobile. Take a look at this article to find out more about mobile responsiveness.
This stat is also great news for app developers because if people view your explainer video on their mobile device, it’s not a huge next step for them to click a link and download your app.
13. 75% of consumers have been discouraged from buying a product because a voiceover in an ad annoyed or alienated them.
There are a lot of elements that come together to make an explainer video, and all of them are equally important. The voiceover of your explainer video becomes, in a way, the voice of your brand, so it is important to choose wisely!
14. 9 in 10 consumers watch at least one online video per week.
When you consider the popularity of video sites like YouTube and Vimeo, and even the popularity of video on social media, this stat isn’t all that surprising. Having said that, it is nice to know just how popular video is among consumers if you’re looking to invest in video marketing.
15. 70% of users say they have shared a brand’s video with a friend, or on their social media channels.
Visual content is SO popular with friends interacting on social media – we’ve all been tagged in a hilarious cat video, right?
Video marketing goes hand in hand with social media because watching video content is a social experience. Think about the cinema, no one wants to go and watch a movie alone. The same applies to online videos. If a viewer sees something they like, they will willingly share it with their friends.
16. Only 3% of consumers say they would never share a branded video under any circumstances.
This stat compliments the one above nicely. It further reiterates that consumers enjoy sharing videos. It doesn’t matter whether it’s a funny cat video, a blockbuster movie, or a brand video, if the viewer liked it they WILL tell their friends. So, in other words, make a great video and 97% of consumers will happily share it on social media.
Challenge accepted.
17. 98 of the 200 top grossing apps in Apple’s App Store have a video – that’s 49%.
Almost half of the top-grossing apps in Apple’s App Store are using video to market their product — that can’t be a coincidence. If you’ve got an app to promote then video marketing is one of the best ways to do it. Video helps you to manage user expectations and also gives potential downloaders a sense of “try before you buy”.
However, it is worth noting that Apple has very strict guidelines when it comes to uploading a video to their app store. Click here to find out more.
18. 159 of the 200 top grossing apps in the Android Play Store have a video – that’s 79.5%.
Video is more popular in the Android Play Store, and it can be assumed that this is because they aren’t as strict with their guidelines. An explainer video you made for your homepage or a social campaign can also be uploaded to the Play Store.
If you are an app developer and have an interest in increasing your downloads, take a look at this recent article we wrote including case studies from real companies that used video to increase their app downloads: How to use Video to get More Mobile App Downloads.
19. When having difficulty with an app or product, 68% of users would prefer to watch a video that explains how to solve the problem, as opposed to calling the business and speaking to a support team member.
This statement backs up the 3rd stat on the list. It seems that it doesn’t matter what the business is selling, be it a product, a service, or even an app, most people would prefer to watch a video than speak to a support team member.
20. 63% of consumers say companies that use video know how to reach their customers.
Successful marketing is all about listening to what your customers want. If the statistics in this article have proven anything, it’s just how much consumers LOVE video.
Hungry for more video marketing stats? Click here to view our full 2017 study.
Sources:
Vidyard/Aberdeen, 2015
Animoto, 2015
Tubular Insights, fka ReelSEO 2015
Statistic Brain, 2016
Wyzowl, 2016
Animoto, 2016
Vidyard, 2017
Wyzowl, 2017