Video marketing allows companies to make a unique connection with their audience or potential customers. The way streaming video content engages audiences, creates a connection, entertains, and inspires, is unique compared to any other format. Streaming video has grown in usage over the years. However, there is something about this year that makes us feel video will continue to dominate from this day forward.
The Stats Tell Us So…
There is a rise in video statistics that include video usage, which reinforces the belief that marketers will utilize more video than in any other previous year.
- 6 out of 10 people would rather watch online videos than television. (Google)
- Mobile video consumption rises by 100% every year. (Insivia)
- By 2022, online videos will make up more than 82% of all consumer internet traffic — 15 times higher than it was in 2017. (Cisco)
Video usage and views are on the rise and the growth rate year over year continues to rise at exponential rates.
Consumption is Growing with the Availability of Streaming Video Content
Not only are people able to quickly and easily access data on their desktops, but they’re also able to access video content on mobile devices. According to eMarketer, US adults watched 75% of all videos on mobile devices. And 92% of users watching video on mobile will share it with others.
Users view more than 1 billion hours of video each day on YouTube. (According to YouTube)
Check out these stats:
- eMarketer estimates that the number of US Video View Time Spent Per Day by Adults rose to over 86 Minutes in 2019, which is up from 61 in 2015.
- Neilsen conducted a study on behalf of Google where they looked at 3,000 U.S. Campaigns. 46% would have increased their millennial reach by combining TV and Youtube. This is compared to reaching just 42% with TV alone.
What makes video content so important when considering including it into your marketing? Video used to only be thought of as an awareness driver. However, according to Google, video now has shown an impact on purchase decisions. Things like: change in consideration, change in favorability, and change in purchase intent are shown.
When exposed to a streaming video advertisement, 35% of people saw a lift in purchase intent. When you look at people who watched 30 seconds or more of that video, that stat jumps to 61%.
A quick 30-second video is fairly inexpensive to create, making them more accessible for brands and entrepreneurs. Video content can be used in both organic activities, through video marketing such as content amplification, social media, or video advertising.
If the statistics alone haven’t convinced you why you should consider including video marketing into your portfolio, here’s one final thought: early adopters have the advantage of gaining the momentum in leads, sales, and brand loyalty.