5 Telling Statistics About the State of Video Marketing
Spin Creative • October 8, 2020
There’s no question that video marketing has quickly become one of the most important digital marketing mediums of the modern age.
Video has become more accessible and affordable for brands, social media platforms are consistently incorporating new video elements, and television advertising has long been a staple in many company’s marketing plans. Throughout 2020, the importance of video has only continued to grow—signaling its crucial role in the marketplace.
Whether you have a video marketing strategy in place or are looking to add one to your brand’s efforts, it’s important to stay on top of the latest video trends and statistics to inform your video marketing plan direction heading into 2021.
Here are five important stats to know about the state of video marketing in 2020 and beyond.
People will spend even more time per day watching video
One of the main reasons brands have shifted their attention to video more and more over the years is because it’s one of the most-consumed forms of digital content. This is made abundantly clear by the estimation that the average viewer will watch approximately 100 minutes of online video per day in 2021.
If you consider the prominence of short-form video on platforms like Instagram, that is a lot of videos being watched each day! Brands may have even more opportunities to get in front of consumers because of this rise.
Consumers prefer to learn through video
According to a 2019 study done by Wyzowl, 66% of surveyed consumers reported that they preferred to learn about a product or service by watching a short video. Comparatively, 18% preferred to read a written article and a minority of respondents said they preferred infographics, eBooks, webinars and sales calls.
This showcases the immense power of product introduction, benefit and demo videos
in the market. By sharing a well-crafted explainer video, you’ll have a higher chance of reaching and retaining the attention of buyers.
Video provides good ROI
In that same survey by Wyzowl, 89% of surveyed video marketers reported that video marketing, in general, offers them a good return on their investment. This is even more important to consider as video becomes more affordable for brands to make and the video rises in popularity on a range of free or lower-cost digital platforms. Combined, these things create ample opportunities for brands.
B2B video is rising in popularity
According to a survey completed at the end of 2019, 41% of B2B marketing professionals
reported said they would use video marketing strategies in 2020. Video marketing can be a powerful lead capture and conversion tool when done effectively, and it’s clear that more and more brands are catching on.
Many video types can be useful throughout the B2B customer journey, including product demo videos, customer testimonials and case studies.
Video marketers aren’t slowing down
At the end of 2019, 99% of video marketers
reported that they’d continue using video through 2020, with 95% planning to maintain or increase their video marketing spend.
These stats demonstrate that marketing professionals understand how important video is to their overall marketing strategy and are putting effort into expanding it. Those brands that haven’t adopted a video marketing strategy run the risk of lagging behind in the marketplace.
Are you ready to jumpstart your video marketing strategy?
It’s clear that video marketing played a major role through 2020 and is poised to grow as we head into 2021. Now is the perfect time for your brand to consider starting or expanding your video marketing strategy to capture consumers’ attention next year.
Eager to get started? Turn to the video creatives at Spin Creative! Say hello
today.
About Us
Spin Creative is a video production company and creative agency helping marketers create winning video and creative strategies that engage, inspire and activate targeted audiences. Spin is headquartered in Seattle with offices in San Francisco and London, serving brands around the globe.
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