Why is video marketing important to your business?
A report by Cisco shows that video traffic will account for 82% of all IP traffic by 2022, a sixfold increase from 2017. Additionally, a 2017 report by Wyzowl showed that 63% of businesses were already using video marketing, and of those, 82% said it was a key part of their marketing strategy.
According to Statista, as of January 2018, 85% of all internet users watch online videos, and there will be 232 million online video viewers in the United States by 2020.
This means the majority of your customers are already watching online videos, and that number is only going to increase in the future.
What is Video Marketing?
Video marketing is the use of online videos to promote your product or service, and increase awareness of your brand. With video integration in social media platforms like Facebook, Twitter, Instagram, and video platforms like YouTube and Vimeo, video marketing is is nearly ubiquitous for anyone with an internet connection.
Statistics on Video Marketing
- People watch over one billion hours of video every day on YouTube.
- 83% of businesses believe video marketing gives them a good ROI.
- Only 5% of businesses say they are doing less video marketing and emphasizing other forms of content instead.
- Over 50% of consumers say video content is the preferred form of brand content to consume.
- Nearly 50% of all video content is watched on a mobile device.
- Video will be 75% of all mobile traffic by 2023.
If you haven’t picked up on the trend yet, people like to watch video content! Here are more reasons your company should invest in video marketing.
Twelve Reasons To Use Video Marketing To Grow Your Business
Google Loves to Rank Video Content
In search results pages, video results are often featured prominently near the top of the first page. These are usually YouTube videos, since Google owns YouTube, but Google can also extract embedded video from blog posts.
Many people believe that the average time on page is a user signal that Google uses to gauge satisfaction with a web page. By using embedded video on a blog post or web page, that can help increase your average time on page, and therefore your SEO.
A study by Brightcove shows that video embedded on a webpage can result in a 105% increase in time on page, and a 157% increase in organic search traffic from Google and Bing.
Live Video Traffic Is Increasing Exponentially
A February 2019 white paper by Cisco reports that live video traffic will increase fifteen-fold from 2017 to 2022. It is estimated that live video traffic will be 17% of all video traffic by 2022.
A 2018 study by HootSuite shows that 71% of consumers increased the amount of daily time they watched online videos from 2017 to 2018. Video is an easy way for people to consume content, and that consumption is growing dramatically.
Video Increases Conversions
- According to Forbes, 90% of consumers say that videos help them make a buying decision.
- A 2017 study by Animoto showed that 64% of consumers made a purchase after watching a Facebook video for that product or service.
- Wordstream says that embedded video on a landing page can increase conversions by up to 80%.
- Adding the word “video” to an email subject line increases open rates by 19% according to DepositPhotos.
Video Keeps Users’ Attention
Video tends to outperform static content. A Hubspot study showed that 59% of decision makers would rather watch a video than read a blog post. A 2017 Wyzowl study showed that 79% of consumers would rather watch a video than read a sales page. According to YouTube, mobile video consumption is showing a 100% year over year increase.
Video is the preferred choice for both customers and clients. Their attention span is longer for video than for written content.
Video Marketing Helps Increase Brand Awareness
According to Buffer, one of the compelling reasons to use video marketing to build brand awareness is you can convey roughly the same information in a short video as you can in a thousand-word blog post. A recent survey by Animoto also confirms that video helps brand awareness, as a majority of consumers are engaging with branded video content daily on Facebook, Instagram, YouTube, Snapchat, and Twitter.
Message Retention Increases With Video Content
A 2017 Hubspot study showed that video content was 9% more memorable than photo content and 19% more memorable than written content.
Video Helps Brand Engagement
According to Facebook, users watch Facebook Live videos three times as long as non-live Facebook videos. Facebook Live videos also get ten times as many comments as non-live videos. A Hubspot report shows that branded video content is three times as popular as blogs or e-books.
Brand Affinity Increases with Video
According to a study by eMarketer, 80% of retail executives say video marketing is important because it allows them to create authentic interactions with consumers.
The beauty of using video to market your brand is that it levels the playing field and allows small brands and large brands to compete equally. By marketing your company through video production, it lets customers connect with you on a personal level and you can build brand affinity.
Video Consumption is Part of Your Customers’ Daily Routine
- There are one billion hours of video watched on YouTube every single day, with 70% of that coming from mobile devices.
- In Australia, Facebook has almost as many video watchers as regular TV, and when combined with Instagram, is the top source of video consumption.
- A 2016 report by Invisia says that more video content is uploaded every thirty days than the major US networks have created in thirty years.
- In 2017, Forbes reported that half a billion people are watching video on Facebook every single day.
Watching online video is here to stay and only growing in popularity.
Video Creation Makes Blogging Easier
Creating a blog post by embedding a video and adding a written transcript from a service like Rev.com speeds up blogging significantly. By speaking into the camera, and transcribing what you’ve said, your blog posts can have the best of both worlds, both video and written content.
Your Competitors Are Using Video Marketing
A 2019 report by Wyzowl says that 87% of all companies are using video marketing to promote their brand. According to a 2019 study by Hubspot, 90% of companies using video marketing feel like the video landscape is getting noisier, and they are looking to improve video production.
Your competitors are using video marketing because it delivers superior ROI.
Video Marketing Helps Drive Revenue
A report from ImpactBnd shows that companies using video marketing on average grow revenue 49% faster than companies abstaining from video marketing.
A Healthy Digital Marketing Strategy Requires Video
Video marketing is increasingly a part of our daily lives on social media, on dedicated video platforms, and as part of our content consumption patterns. Consumers repeatedly state that video is their preferred form of content from brands. Live video traffic is increasing at accelerated rates.
Video needs to be front and center in your digital marketing strategy. Solutions like Hapity allow you to publish live video to your blog, and your social media accounts painlessly, while retaining control of your content.