Posted by Once upon a time video marketing was a fancy term that was used by just popular brands in their marketing campaigns. However, the contemporary world evolved and today video marketing is not only confined to a trend but has become far more necessary for businesses.
Video marketing is proving to be an effective marketing medium that is assisting in engaging people across various platforms especially if we talk about social media. Not only does video marketing assists in increasing brand awareness but it also has the ability to create a powerful brand authority in the digital landscape.
It is just not to say, there are multiple types of research and reports that prove that not only video marketing is the demand of the consumers but will also benefit the businesses in order to attract, engage and retain their target audience. This will further assist in enhancing the revenue and growth of the company.
Hence, this blog will confer some convincing statistics that will encourage you to start investing in video marketing today, if you are not already doing so. So, let us delve deeper into the blog without further ado.
10 Unique Video Marketing Statistics to look out for in 2024
1. Video has more retention rate than text
As per the stats by Insivia, an audience can retain only 10% of the message while it is in a textual form compared to 95% of the message delivered by the brand in a video format.
Quite a fascinating insight isn’t it? As you can see, with video marketing you can ensure that your target audience gets your brand’s message in an enticing way. Besides, the best part is that they are going to remember the message clearly and for a long time. This explains why video marketing is proving so successful for marketers.
2. Customers demand videos
HubSpot stated that nine out of ten consumers expect more videos from their favorite brands and enterprises.
Fulfilling the needs and desires of the target audience is the utmost priority of the businesses. As per the stats, it is pretty clear that the consumers of the contemporary world are demanding videos from their most loved brands and businesses. Effective video marketing will assist in creating brand awareness and satisfying the needs of customers which will also enhance assist in enhancing the reputation management of a business for being customer-centric.
3. Short videos have a prolonged impact
Videos with a duration of fewer than 90 seconds have a 50% higher retention rate as claimed by HubSpot.
Wasn’t that obvious? we all are very well aware of the fact that the trend of short videos is gaining wide popularity all around the globe. People are getting addicted to short videos while scrolling through social media platforms. However, various platforms have their own duration rate of postings. For instance, on Facebook and Instagram, you have the liberty of posting as long a video as you want. On the other hand, platforms like Snapchat and Tic-Tok have a maximum video limit of 1 minute.
To continue, as per the report by HubSpot, the ideal duration of posting a video to get 50% higher retention is less than 90 seconds. Lengthy videos often start disengaging the customer. Hence, it is always advisable, even if you are going for a lengthy video, always try to add the best of your content in the first 90 seconds in order to hook the audience and compel them to watch the whole video.
4. Trend of Live video is expanding
Sprout Social Stats concluded that 63% of the marketers of social media believed that live video will be significant in the future.
Among all other latest trends, the trend of live video is also emerging in the contemporary world. Especially, in the coming years, it will benefit the businesses as companies can use it to demonstrate the usage of their product or service online live in front of the audience. This will assist in enhancing the reliability and brand authority of the company.
5. Video attracts profits
Research by Wyzowl revealed that 89% of the video marketers provided them with a good return on investment, and 83% of them said that video helped them with generating leads.
Most enterprises enter the business world with the single intention of earning maximum profits and the given above stats clearly satisfy the basic need of most businesses. Implementing a good and effective marketing strategy will not only strategically communicate your message to the right target audience but will also assist in increasing the overall revenue of the company.
6. Video is the Future
Cisco says that by the end of 2024, 82% of the online traffic generated globally will be only from video streaming and downloads.
If 82% of the global online traffic will be generated through video streaming and downloads then how video marketing is not a necessity for businesses? It pretty much clears up that the customers are preferring video over any other form of content. Video can be created with the different intentions of explaining, entertaining, or educating the target audience. Hence, companies can use various forms of content in their video in order to engage the target audience.
7. Videos are effective sales pitchers
84% of the people claimed that watching videos provided by brands convinced them to make a purchase of a product or a service as given by Optimonster.
This stat clearly reflects the power of video marketing in the modern world. If it is effectively created, it can assist in influencing the purchasing decision of the target consumers. Brands can effectively utilize the latest trend of storytelling in the videos to create a personal connection with the target audience and incline them towards making a purchase from your business.
8. Video approves purchases
Meticulous research by Google revealed that 55% of consumers watch videos before making a purchase.
Who knows your target audience better than Google? As per Google research, your target audience prefers to watch videos before making a purchase. But how will your audience know your brand if you are not creating videos for them?
Hence, companies effectively need to create videos describing the solution to the problem your target audience is looking for and your product is solving. This will assist in attracting the audience and converting them into leads which can further assist in enhancing the revenue of the company.
9. Post when people watch
According to HubSpot, the most popular watching time for online videos in the US is on Wednesday between 7 AM to 11 AM PST.
If you are a business owner operating in the US, then this stat is really significant for you. Posting videos between the given above time slot will assist you in reaching a wider audience and getting better engagement.
Higher engagement in videos will assist in enhancing the online presence and brand awareness of the business. Furthermore, it will assist in generating leads that can effectively be converted into sales that will benefit the growth of the company.
10. You do not have to be a pro
As per Lemonlight Original Research, in the last three years 76% of the marketers invested in video marketing. Moreover, 44% of the same took care of it in in-house productions, 28% outsourced a production company, and 23% took support from freelancers.
This stat highlights that even if you are not a pro in video production, it does not imply that you can not hop on the trend of video marketing. Businesses can outsource help from professional agencies or freelancers in order to create business videos that can assist in magnifying the brand authority of the business.
To encapsulate, these stats clearly reflect that the rising trend of video marketing is not going anywhere for a long time. Hence it is crucial for marketers to effectively create various video marketing strategies to enhance their business in the contemporary business world. Moreover, we hope that these stats were convincing enough to encourage you to invest your money and efforts in video marketing.