Top 20 Video Marketing Statistics for 2020
Welcome to 2020, and all of the new and exciting things that it has to offer! It’s a new year and a new decade, full of potential to reinvent yourself, your brand, or even to start something brand new! Whether you are starting from the ground up, or making a shift in your marketing strategies for 2020, you’re going to need a surefire way to get yourself out there and to reach your target audience.
With the entire world living on their devices (smartphones, tablets, laptops, televisions), the best way to get yourself noticed is to put yourself directly in front of them. The challenge is, that is what everybody is doing. It’s a no-brainer. So, how do you cut through the noise, grab their attention and make them focus on you? It might be time to try video marketing.
A new challenger approaches
Video marketing may seem like a huge undertaking (and it can be) full of complexities, technical restrictions, and frustration. But, it doesn’t always have to be. It’s never been easier to pick up your device, record a quick video explaining your product or business, and hit post. It doesn’t have to be a multi-million dollar Hollywood production to be effective. Though, we can certainly help you enhance the production value of your videos if you want something a bit more polished.
“But, my posts, blogs and newsletters are reaching my target audience just fine.”
This may be true, but adding video marketing to what you’re already doing can greatly increase your reach and conversion potential. We’ve compiled a list of the top 20 video marketing statistics for 2020. Use them to plan your video marketing strategy, or augment the marketing materials you’re already producing by using it as a customer touchpoint.
What Do Marketers Predict For Video In 2020?
87% of businesses now use video as a marketing tool. This is up significantly from 63% in 2017.
83% of B2B marketers consider video as having the highest ROI when targeting their customers.
60% of B2C marketers utilize video (pre-produced, live-streamed, webinars, etc) to engage with their audience.
Over 60% of B2B and B2C businesses drive successful results with video marketing. 30% of B2B marketers and 34% of B2C marketers say video is key to success.
Augment Your Marketing Strategies With Video
Need to drive your customers to a landing page for your product? Adding a video to your landing page results in an 86% increase in conversion.
Does your marketing strategy for 2020 include targeted email campaigns? Including “Video” in the subject of your email, and relevant links has been proven to increase your CTR (click-through rate) by up to 63%.
Once you get a visitor to your website or landing page, how do you keep them there? On average, users will spend 88% more time on a website that contains video content. Producing more long-form videos to use here will help keep people interested in your message.
Blogs, whitepapers, and email content are all great ways to get your message out to those on the go. However having a short, digestible video with the same content enforces your message, and is found to be more appealing as 72% of people prefer video to text on the same subject matter.
Video and Social Media
Thinking of diving into social media? Great! 93% of businesses reported gaining a new customer as a result of posting a video on social media.
The average engagement rate for Facebook video posts is 6.13%, which is almost double the engagement rate of static content at 3.6%.
If you’ve been using Instagram primarily as it’s original intended use (photography), you may be missing out. 54% of marketers see Instagram videos as important to their strategies. With over 70% of users watching video content in for form if Stories daily.
Drives Business Results
Real business investments and initiatives such as video marketing need to ensure that they are going to generate real results for the company. As mentioned above, video has one of the highest ROI for B2B and B2C marketers, and with good reason. It drives real business results.
65% of senior executives and decision-makers visit a site linked from a video that they viewed on YouTube to find out more information.
Mobile-first video (video designed specifically to fit on mobile devices) drives a 27% higher brand interaction compared to video not optimized for mobile.
Video marketers get 66% more qualified leads per year than those who stick to static and text-based methods.
Don’t you miss the days of those Sunday morning infomercials that were full half-hour shows? Well, those marketing strategists were on to something. 74% of users who watched an explainer video about a product, subsequently took action and purchased that product.
360 Video, VR and AR. Are They Ready for Prime Time?
These are all relatively new forms of producing video content and have not been widely adopted...yet. The technology just isn’t in a place where it can reach the masses, but it doesn’t mean that you can’t generate some real results if you find that your particular audience flocks to this type of content.
360° Video usage is shown to be a 14% greater ROI and 46% greater VCR (video completion rate) compared to standard video.
If you do take the trip down the virtual reality route, keep in mind that 77% of users are looking to share their experience with others. This is especially true in the VR gaming community.
Length, Does It Matter?
While being in the awareness stage of your marketing funnel, giving your audience a quick, high-level overview of your product or service may be beneficial. It’s been shown that longer-form videos 6-12 minutes in length can still maintain up to 50% of viewer engagement. That drops off sharply after the 12-minute mark though, so be wary.
The length of videos performs differently on different platforms. If you’re posting primarily to Instagram, keep your videos 30-seconds or less. Being that we process visuals 60,000x faster than we do text, Instagram users tend to scroll faster than any other platform.
In general, while trying to get the attention of your viewer, shorter is better. 82% of videos watched by the average user are 30-seconds long. That number dwindles to just 60% for 3-4 minute videos. But, as always it depends on the story you want to tell. Some stories just can’t be summed up in a 30-second clip.
Conclusion
Whew, that was a lot of information to absorb. But now that you’ve made it all the way through, you should be better equipped to implement video marketing strategies in your 2020 marketing initiatives. Remember, you don’t have to have Blockbuster quality video, it just needs to be effective, and on-brand for your business. Now go out there and give it a shot!
Oh, and if you need help with your video marketing strategies, get in touch with us!
Sources
https://contentmarketinginstitute.com/wp-content/uploads/2016/09/2017_B2B_Research_FINAL.pdf
https://www.wordstream.com/blog/ws/2017/08/02/conversion-rate-statistics
https://www.envision-creative.com/video-marketing-bandwagon-trends-2020/
https://breadnbeyond.com/wp-content/uploads/2019/10/video-marketing-strategy-800px.jpg
https://www.facebook.com/business/news/making-it-easier-to-build-mobile-first-video-ads
https://optinmonster.com/video-marketing-statistics-what-you-must-know/
https://medium.com/omnivirt/360-video-vr-performance-statistics-from-1000-campaigns-2f7343ecfe13
https://blog.hubspot.com/marketing/how-long-should-videos-be-on-instagram-twitter-facebook-youtube
