Video has become a critical component in every business owner’s overall strategy. As technology evolves, the quality of the video is improving with it, where consumers seek more engaging content. So the use of video is set to continue to rise exponentially.
Therefore, we have to look at new ways to engage our audience using video content. How do we do it? It starts with giving customers unique experiences that have their best interest at heart while also meeting your business goals. This could be done in several different ways. The most popular marketing videos are explainer videos, which usually are mini videos explaining products or services. They are fun, snappy videos that quickly get the point across.
These are a few more video content marketing examples:
- Video interviews
- Live Streams
- Product demos
- Video ads
With the world quickly moving toward the mobile market and with 4.78 billion users expected to use mobile almost exclusively by 2020, it has become even more critical to make sure you are marketing to your mobile customers.
When planning your video ad campaigns, it’s essential to keep your mobile audience in mind. Think about how you use your own mobile devices, where you are when you use them, and how you interact with your device while on the go.
MicroLearning is a new concept that has surfaced over the past few months due to the increased interest in using mobile devices. Web designers and online eCommerce business owners may benefit from this recent interest in Micro Learning.
MicroLearning is tied into “gamification,” which takes a “fun” approach to various activities that you can do online. This can be used to appeal to both your customer base as well as your employees. Technical knowledge can be communicated through this technique, and it increases the engagement level of your visitors.
Now that you have a good idea of the most popular video content, let’s look at the latest video marketing stats vital for you to know in 2020.
The return on investment for video marketing (ROI)
91% of marketers have indicated that they are happy with the ROI that video marketing brings in when it comes to social media.
Looking at the current state of videos, they are more time consuming to make and may need more expertise. Yet, would the return on your investment be worthwhile? Let’s look into this. The first return would be seen when more people visit your business website, increasing your brand awareness.
It may not initially bring in sales, but your brand becomes more well known and reputable along the way. As more customers hear that your brand serves their needs, they will be more prone to purchase. Another opportunity to use this data is to invest in video ads on YouTube or Facebook, which can bring you more reach.
Video ads are the number 1 way consumers discover a brand
Video ads drive more users from social media like Facebook, Instagram, and YouTube to make purchases. Generally, this means a standard Television ad or social media ad. Most users will find these ads while scrolling or when engaging with content. Often, it makes the brand appear reputable and serves as a visual cue. While they may not buy at that moment, when they see another signal, it could lead to the purchase. Most platforms like YouTube and Facebook push for video ads and optimize for them as well.
Video ads are easier to digest, and it’s visual by nature, so many tactics used in television advertisements could be applied. You can always think of your ad as the first engagement with your customer. However, if you are employing a video ad strategy on other platforms, that’s a good idea too and will eventually be seen by your target customer.
25% of consumers purchase a product they saw on a story on Instagram
We already know that Instagram is a robust platform that has leveraged the idea of stories and offered marketing space for a price. While the in-feed promoted posts were useful, people have grown tired of them and simply scroll past. Stories are more engaging, and they do make people stay longer on the app, more prone to check out your product.
The good news for you is that Instagram has a loyal base of people who avidly check the app for about 53 minutes daily. That’s enough for potential customers to see your ad, make a connection, and make a purchase. Better yet, they may make a connection and share the product with friends and family.
YouTube is the number 1 platform affecting consumer behavior
This video platform is home to 50 million content creators, and each is hoping their best videos get incentivized from advertising income. How does YouTube essentially pay its bills? Well, they can only do it via advertising. If you’ve ever been searching for information and google populates a video or how-to guide, and if you watch it, you will see an ad a few times in that video. This is one of the critical approaches that have made YouTube the prime platform for driving consumer behavior.
In this way, YouTube is affecting consumer behavior through their well engineered ad platform. Another option is via the content creators themselves. Most YouTubers run sponsored videos where they use a product from a brand that pays them to share it with their audience.
Often if they have 100,000 or more people subscribed to their channel, they will be considered an influencer since they can influence that audience to buy the sponsored product. It works on the premise that YouTube creators become like their friends, and they know trust and like them, so when they share a product, it’s easier to purchase because their “friend” recommended it.
85% of businesses use video as a marketing tool
This becomes even more interesting when we see that 96% of marketers have attributed ad spend to video. Since more than 90% of marketers are using videos for marketing, you cannot afford to be left out of this picture. Similarly, research shows that 71% of B2B marketers and 66 % of B2C marketers use video marketing.
As more and more businesses seek to get their offerings in front of their ideal customers, the competition has undoubtedly become more fierce. The only way to use this data is to find a way to create compelling video marketing for your business. When video marketing is combined with social media, it can also become a powerful and cost-effective way to get your products in front of the right audience.
75% of consumers decided not to buy a product because the video voiceover annoyed them
This stat from Wyzowl shows that the video’s content and sound quality can be equally important. People have unique tastes, and it always helps to know your customer well. This can lead to your customer relating to your brand better when they eventually do see your ad. The worst thing you can do is have an ad that people don’t watch or find annoying. Also, it’s more expensive to have an annoying video ad. On Facebook, if your ad performs well, then they will show it to more people and vice versa. The aim is that the platform does not wish to create a negative space for its users. The objective is to keep people on the platform so they can buy more.
You can avoid having an unsuitable ad by ensuring you do your research on your audience, likes, dislikes, and tastes in the video. Many marketers join a variety of platforms like Reddit, Twitter, and keep in touch with the conversations to get a sense of their preferences. Alternatively, you can look at your competitor’s ads to find what’s working. If you’re on Facebook, you can easily navigate to all their running ads by accessing their page and watching a few of their ads under the “transparency” section. It helps to ensure that your ads are pleasant and keeps your viewers engaged, so if it means hiring a video editor to make it happen, it makes the best investment for your company.
Mobile Video Marketing
Your customers are more attracted to video than they are to image content, and for this reason, the video has outperformed other forms of content. Additionally, mobile use has seen an uptick in the last 4-5 years, and more people are consuming your content using mobile devices like smartphones and tablets. In short, your customers love to watch videos on their mobile devices. According to YouTube, more than 70% of all YouTube video use comes from mobile devices. Additionally, 93% of Twitter video views are from mobile devices.
You can use this knowledge by ensuring that all your video marketing content is optimized for mobile. Simple aspects such as creating portrait mode video instead of landscape video can make a big difference. With the onset of Instagram stories and TikTok, the world is moving swiftly towards space where we consume most of our video content in portrait mode. The good news for you is that it is easily converted by using software like adobe premiere or final cut pro to update your videos.
82% of all consumer web traffic will be video in the future
Cisco recently released its annual internet report and found that around a million minutes of video per second will pass through the internet. Additionally, they also noted 82% of internet users buying something online would be facilitated via a video. This will prove exciting as marketers will have to cater to more video content by either outsourcing video content or repurpose their content.
Ideally, this video creation must be planned since it can take up to 5-6 hours. Yet, the good news is that more and more companies embrace the need to simplify the video process offering free and paid solutions that will undoubtedly help you create professional videos that are aimed at business marketing.
66% of marketers see success on TikTok
TikTok has multiplied in the last two years, where they allow users to make short-form content and share it with around 800 million TikTok users. While the application is entirely new compared to the giants of social media like Facebook and Instagram, it has been showing some decent results.
More and more adult users are on board for the fun, quirky, and sometimes cringe-worthy videos that show up. Marketers bring their business to TikTok using the trends and popular music to make educational content that draws their target market in. Their ad platform is also seeing some traction, and it is relatively inexpensive to start.
They do have a large influencer base who will gladly make video content for your brand and share it on the page with millions of followers. Most influencers on the platform are learning how to price their services, and you may find you get underpriced attention for your brand leading to more customers coming your way.
Final Thoughts on the Future of Online Video
Video consumption has increased significantly in the last decade, primarily due to the advancement in technology. As a marketer, this should be a useful tool to use in your content strategy. By making use of content like explainer videos, tutorials, Instagram stories, and live streams, you will start to see a rise in engagement on your brand.
The data indicates that people need good video content that entertains, educates, or inspires. If your content does any of this, they will likely be interested in finding out more about your product or service.
Additionally, using video will increase your engagement and brand awareness, especially when making use of YouTube, Facebook, and Instagram stories, which offer inexpensive ad campaigns for businesses seeking to reach their ideal customers.
Did you enjoy finding out about video marketing stats? If so, please go ahead and look at our recent stats on the top video platform, YouTube.