Video Marketing Statistics: Why The Modern Business Needs Video
Effective marketing essentially involves mastering the art of storytelling and communicating with the target audience in the most effective way. Given the context of today’s digital landscape, video stands out as the most effective medium to achieve the bottom line. As a brand engaged in cut throat industry-level competition from peers, video, in fact, proves as the single most crucial channel for you to improve sales and attain solid growth. The numbers further support this fact.
While many marketing experts are already on board with the idea, many are still on the fence, skeptical about investing in video and bogged by the potential costs. However, irrespective of the size of the business, it needs to be remembered that video is an investment with far-reaching benefits, that may well spill into the oncoming best years of your business.
To put things into perspective and to help you take the leap, here we have rounded up some of the most eye-opening current statistics in video marketing.
Mind-blowing video marketing statistics in 2024
Coming from our expert team of Chicago headshot photographer and videographers, here are 10 mind-blowing video marketing statistics that will make you think and act right away.
- More than 90% of users say that they discover new products and new brands on YouTube – a platform that primarily focuses on video content.
- 90% of marketers having utilized video marketing, say that it helped them generate new leads for their business.
- Video ads or commercials were the number one way prospects discovered a brand or product and made a purchase.
- Video viewers claim to retain up to 95% of the message seen, compared to much lesser portions with text-based ads.
- 84% of people say that watching a brand’s product or service video has convinced them to buy it.
- 93% of brands earned a new customer because of a video they shared on social media.
- 93% of existing customers find video content most helpful for post-purchase use and instructions.
- 1 out of 4 customers made a purchase after viewing a story on Instagram.
- 94% of marketers currently consider video content a crucial part of their comprehensive marketing strategy.
- 69% of people say they prefer to learn more about a product or service through a short video.
These numbers emphasize the power of video content in marketing and the impact that brands have been able to extract from the medium over the last few years.
Statistics pertaining to consumption patterns increasingly point towards the resounding effect video has on purchase decisions. In essence, consumers love watching videos online and consider it a ritual to watch one before deciding on buying a product or service.
Marketers on the other hand, having realized the striking merits accruing from investing in video, are making further commitments to explore and use more of the medium in the near future.
You can reap similar benefits for your business too with video marketing. Needless to say, you will inevitably need a skilled Chicago videographer for the same. The right video production partner can help you maximize your video marketing investment.
Here is an overview of the solid reasons why the modern business needs video to grow.
5 solid reasons why the modern business thrives with video
Video marketing brings more benefits than meets the eye. After all, professional marketers the world over do not place a large share of their bets on this medium for nothing. From driving solid ROI to appealing to viewers in more ways than one, video does much more than other forms of content.
Video drives measurable ROI
Video being the most popular content format today across multiple platforms, there are also many ways to measure its effectiveness. Most of the widely used channels including YouTube, Instagram, and Wistia provide a range of video insights such as likes, impressions, unique views, watch time, etc. These metrics allow you to gauge the performance of your video, and in turn, calculate its ROI. Tracking relevant metrics, making favorable iterations in your video, and setting smart goals will help you increase your ROI steadily and solidly.
The future is video
At this point, it is safe to say that video is in for the long haul. Studies have already concluded that video is set to dominate the future of all digital content. More than 85% of the world-wide-web’s traffic likely comprises video content today, and it is only going to increase. Hence, you can rest assured that investing in video marketing will never be a thoughtless decision. It is a highly potent and crucial investment that will prepare you for the future, and help you stay relevant in the long run. Partnering with a creative Chicago videographer can further strengthen your position in the landscape with timeless and resonating stories.
Videos convey more in less time
Considering how the attention spans of the average content consumer are going down by the day, the only way to effectively get your message across and make an impact is to convey it as precisely and engagingly as possible. Videos are your highway to do that. Even a short 30-second video produced thoughtfully can convey a lot more about your brand and your products than other types of content. It gives you a chance to create a solid impact within the capacity of the viewer’s ability to retain attention and information. Done right, videos let you communicate and tell your story more efficiently than other formats.
Video boosts SEO results
Leveraging the power of video for your brand also helps boost your SEO rankings. For starters, YouTube is the second largest search engine in the world, the first one being Google, the parent company that YouTube belongs to. Optimizing your video with the right keywords in the right places, and sharing it on YouTube alone, will naturally give you a better chance to rank higher on Google. Similarly, creating and placing SEO-optimized videos in other relevant brand channels, such as your website and social media, will help earn better SEO rankings as long as you create quality content. A great Chicago videographer can not only help you create valuable content but can also help you take advantage of clever and effective video SEO strategies to further boost your rankings.
Videos help sell more effectively
Videos, being one of the most popular content formats in the world today, naturally comes with the ability to penetrate more effectively. A cleverly made engaging video, crafted with targeted strategies can help you take advantage of this ability, and pitch your product for a higher probability of being able to sell. For example, a short and crisp explainer video that features the most lucrative benefits to a consumer from using your product will likely lead to more sales than a long-winded sales pitch email. Videos essentially bank on the power of unique and immersive visuals. Hence, the right type of video at the right place and time can immensely improve sales.
Wrapping up
Video has been a revolutionary concept in the world of digital content that has further evolved to become an all-encompassing and all-pervasive medium that helps brands achieve much more than other content counterparts. To not take advantage of video, would be to put your brand on the back burner, devoid of tools, and not give it a fair chance to shine through in today’s ever-so-competitive business landscape.
The above-mentioned statistics, put together with the solid benefits that accrue from leveraging video content should serve as the gentle push you need to join the bandwagon.
If you are unsure of where to start or need a head start in your video journey, contact K3 – a full-service video production Chicago. We provide consultations, free audits, expert tips, advice, and more, along with a full scale of video production and video marketing services.
