When it comes to inbound marketing, video has established itself as a traffic-referring, lead-generating, content powerhouse. We no longer have to wonder if video marketing works. The data's in. Now we get to do what all great marketers do: sit down with our hot beverage of choice, and start analyzing. In this post we're breaking down our pick of the top five video marketing stats released in WYZOWL's State of Video Marketing Report to see what it all means for our inbound marketing content strategy and the bottom line.
Stat 1: 81% of businesses use video as a marketing tool.
The term, “year of video marketing” has been thrown around a lot. In fact, marketers have been declaring that every year is the “year" of video marketing since about 2013. Because the percentage of businesses utilizing video content increases every year, it's not really accurate to call any specific year "the" year. What we're really witnessing is the age of video marketing. This means video is not a passing fad, but a new staple in your inbound content strategy.
Takeaway: This year 81% of businesses are using video in their content strategy compared to last year's 63%. That's an 18% increase! Don’t expect video to go away. In fact, if you’re not using it, you may be losing out on site visitors, leads and customers. Chances are those missed opportunities are ending up with a competitor who’s already tapping into the power of video marketing. Keeping up with the industry means adapting our content strategies to continuously make ourselves relevant and competitive — and video has become the content avenue of choice.
Stat 2: 85% of people say they’d like to see more video from brands in 2018!
With all of this video marketing content circulating around, wouldn’t we assume people are getting tired of it all? Nope! In fact research shows it’s just the opposite. People want more and they're going to gravitate toward the brands supplying it. Those rich in content are only going to keep getting richer (and so will the video creators).
Takeaway: The people have spoken. As more video content is produced, more is expected. Video is really becoming the new standard in content marketing, and you know the old adage, give the people what they want! In other words, if you're not already leveraging video content in your marketing and sales strategy, you better start now!
Stat 3: 97% of marketers say video has helped increase user understanding of their product or service.
Ever wonder if your marketing materials are as effective as they should be? Or if your message is getting through to your audience? Chances are the answer is yes, because as marketers and salespeople, we’re always asking these types of questions in order to continually optimize our material. According to the stats, video is proving to be a highly effective means of increasing an audiences' information retention.
Takeaway: It’s all about connecting to our prospects, educating them and nurturing them through the marketing funnel. Video is a champion at effectively communicating messages to our audiences at all stages of the journey, which ultimately better qualifies them as prospects. In the end, it’s a win for everyone.
Stat 4: 72% of people would rather use video to learn about a product or service than read about it.
Let’s be honest, page upon page of text can be daunting. It's no surprise that people tend to get distracted when they're continuously confronted by it. If only there were a way of communicating to them in a more personal and easy-to-consume manner…
Enter video marketing! With video, you get to leverage the benefits of body language, tone and visual stimuli to engage your viewer and create a more personal experience.
Takeaway: Some messages just need to be conveyed on a deeper level than static text can provide. Viewers are looking to be connected with and engaged by marketers in much more personal ways. By seeing a face, and hearing a voice, viewers are able to consume information more efficiently. This is hugely important information for inbound marketers and it’s no wonder we keep producing video marketing content. It places our messages in front of viewers in unique and engaging ways.
Stat 5: 76% said it helped them increase sales.
Ever hear the term, “the proof is in the pudding?” Well if this blog post is the pudding, than stat 5 is the proof. When it comes down to it: driving traffic, increasing leads and nurturing prospects is all well and good, but it’s not worth the effort if it's not increasing sales. 76% of the businesses that were interviewed said video marketing was a direct contributor to increased sales. That's huge!
Takeaway: If content is at the heart of inbound marketing, video is truly the lifeblood. Does this mean it replaces other types of content offers? Not at all. There's still a place for eBooks, white papers, checklists and other content types. What it does mean is that video marketing is here to stay because it's proven itself time and time again to be a major revenue generator for the companies who use it.
If you’re already producing video marketing content, chances are you’re already seeing these incredible benefits first-hand. If you haven’t started your video marketing yet, now is the time to sit down and evaluate how your organization can tap into this incredible tool.
And remember, it’s not the year of video marketing. It’s the age.
Ready to take video marketing to the next level? Download our Video Strategy Workbook and start developing your killer video strategy skills today!