Video marketing is the future of marketing! And in 2020, the future is here.
Many people have pushed back on whether marketing their business through video content is worth it. Or, not sure if their audience would love to see a video of the brand they support. In the end, video marketing is worth the effort.
This article will cover the significant video marketing statistics in 2020 that proves that if there’s any time to have a video for your business, it’s now!
But, What are the types of video content used to market a business? One of them is an explainer video, which is short, straight-to-the-point videos that explain a product or an offer. Product reviews, vlogs, video testimonials, tutorials, and live stream presentations are other popular video content types.
That said, here are ten video marketing statistics to watch out for in 2020. Use these statistics as a roadmap to your video marketing strategy.
People enjoy video content
More than ever, internet users enjoy video content. In the United States, Statista found 85% of internet users watched video content from any device.
Adults between 24-35 years old watched internet videos more – males spend 40% more time on video content than females.
Internet users in the United States spend watching video content online weekly via their smartphone, which is also increasing sporadically.
Turkey and Saudi Arabic surprisingly topped the list of countries with the highest number of internet users watching online videos from any device.
Demand for brand videos is on the rise
The demand for video content spreads far beyond the entertainment world. Today, brands use videos to stay relevant.
According to a survey, 54% of customers would love to see a video of their favorite brands – be it an advertisement copy, tutorial, or an explainer video.
Since the demand for video content has shot off the roof, many influential brands are always creating different types of brand-focused videos to contain the rising demand.
The survey further talked about the change in people’s attitudes to videos. Users now pay more attention to videos.
While most times, people skip the most of audio and blog articles, videos have become an effective way to get their attention.
Videos, an effective marketing tool
Video marketing success has skyrocketed lately that more than ever, many businesses included video content in their digital marketing funnels.
Marketing professionals should try not to miss out on the numerous sales benefits video contents have to offer in 2020. A report confirmed that over 87% of marketing professionals use at least one type of video content for marketing their client’s brand.
Since video content has lately increased in demand, it’s not surprising to learn that marketing professionals now use videos as a marketing tool.
And that’s because they see how videos have helped engaged audiences and build brand trust while keeping the audience entertained.
Consumers Love Seeing Videos on Social Media
Internet users see videos daily on social media. Whether it’s on Instagram, Facebook, or YouTube, people can’t get enough of these videos.
Consumers prefer to see the video content of brands on social media rather than audio or written content.
The state of social video market Trends reported that 73% of consumers said their buying decision was influenced by the video contents of the brand they purchased from.
This stat truly confirms how video marketing has taken over the internet marketing world.
Because videos play an influencing role in consumers’ purchasing decisions, it’s not surprising to see that Instagram is the best platform where videos are used to drive more traffic and sales.
Video marketing is profitable
Here, we’re talking about Return on Investment (ROI).
Going by numbers, 80% of video marketers are happy with the results they got on their social media video content. Also, the study reported that more than 80% of marketers claim to be satisfied with the ROI of their social media video ads.
Today, brands use video marketing as a tool to build trust, create brand awareness, make sales, as well as keep existing customers engaged while reaching out to potential customers.
Facebook, Instagram, and YouTube are the most popular platform’s video marketers use to share their brand marketing videos with the audience.
Social Media users prefer the visual way, and marketers are always at the core of customer satisfaction.
Video tutorials and explainer videos are trendy among internet users because of these benefits.
Video marketing is an effective lead generation strategy
Video marketers get 66% more leads annually, according to Optinmonster. The study further found that video marketers achieve 54% on brand awareness. Going further, 93% of online marketers said they landed new clients – thanks to videos of their brand.
These video marketing successes can be largely attributed to the quality of video content. Videos are generally more educational. The interactive visual educates customers better about a brand, its product, and its core focus.
Going with these facts, it’s obvious the importance of video marketing for business cannot be underrated.
Video marketing is a promising way to grow your business, get more lead, and widen your customer base. Not just now, but in the coming future.
Video contents on 2020 social media
You already know that video marketing is an effective marketing tool and that every customer would love to see a video of the brand they support on social media. The next question is which of the social media platforms these marketers invest their video marketing efforts on.
A recent statistics on video marketing found that YouTube is the most utilized social media platform for video marketing. Over 88% of video marketers have a video on YouTube. Others plan to give the platform a try in 2020.
Next is the giant social media platform, Facebook. 76% of video marketers say a video of their product or offer will be on Facebook in 2020.
LinkedIn added a video feature to its platform in 2017, which means it was new to video marketing.
Today, LinkedIn has outperformed other platforms like Twitter and Instagram to become the next best social media platform for video marketing after YouTube and Facebook.
66% of marketers promise to use LinkedIn by 2020.
Video influences buying decision
Videos are not only to keep the audience engaged, but they also influence whether or not a product will be purchased.
Surprisingly, a recent survey found that over 80% of users purchased their software after they watched a video of the brand.
Videos influence the entire process of purchasing a product. This study further shows that 95% of users turn to videos for more info and to warn more about a product or an offer.
Plus, for the fact that internet giants like Google could describe videos as indispensable, you should know that it’s high time video contents are included in your digital marketing strategy. Google defines videos as a tool that influences users by providing them with more information, nudging them to purchase, and a reliable medium of a product review.
The increasing popularity of videos
If you’re not yet convinced of the several benefits video marketing has to offer, how about this; the time people spend watching videos online has increased.
Users, in 2019, spend over 6 hours weekly watching videos online – a 59% increase from 2016’s 4 hours per week.
And with the look of things, this trend will continue to grow. People under 36 years spend more time watching videos on the internet than they do on the television.
When it comes to daily usage, the global average daily usage is 84 minutes, led by Sweden and China, whose online users spent 103 minutes daily watching videos online in 2019.
The number is expected to rise by 2021 ( global daily average may hit 100 minutes)
Roles of videos in internet Traffic
Due to the skyrocketed popularity of videos, it should not be surprising to know that its influence on internet traffic will continue to rise. It is predicted that 82% of internet traffic will be generated from video downloads and streaming. That’s a commendable increase from the previous 72.3% in 2017.
Furthermore, global internet users consumed 56 exabytes (up to 1 billion GB) monthly in 2017. The figure might rise up to 240 exabytes by 2022, as predicted by Cisco.
The study also predicted a 15-fold increase in live video traffic from 2017-2022, and by 2022, it will take over 17% of the total internet video share – a stat that shows live videos on social media platforms like Instagram and Facebook are something you should consider for your dropshipping business.
Those are the ten key statistics you need to know about video marketing in 2020. We hope this will help shed more light on why you should include video marketing into your e-commerce business strategy.
The good part is investing in video marketing does not require shelling out a whole lot of money. Small businesses can also incorporate the visual marketing strategy into their new or existing business.
A great example is Dollar Shave Club, a small brand that started with a viral video that grew into a billion-dollar brand. This shows that you don’t need a team of genius to push your video marketing effort.