For more and more companies, the value of putting your team in front of the camera is starting to hit home. Those using video are seeing major payoffs in the form of more conversions, increased brand awareness, and long-term loyalty.
Those who don’t use video say they don’t have the time, don’t understand the ROI, or simply don’t know where to start. Some also say that it’s too expensive.
In any case, video marketing—be it social media stories, one-to-one messaging, or interactive ads—is more accessible than ever.
Here, we’ll go over some statistics that prove that you’re definitely better off late to the video marketing game than skipping it altogether.
State of Video Marketing
There are some biological reasons that we love video so much. It allows us to understand things faster than we might if we were to read that same information. It captures our hardwired attraction to visuals and motion.
Video marketing has been on the rise for the past several years at this point. But, right now, it’s both more accessible to businesses of all sizes and it's a requirement for standing out in a crowded, competitive digital world.
Just so you get a sense of the video marketing landscape on the whole, here are some stats that paint a picture of where we’re at in 2019.
- As of 2019, roughly 93% of marketers say that they consider video a priority.
- 87% of marketers use video as part of their marketing strategy.
- 70% of marketers surveyed in this RenderForest study say that they use an online video platform to create video content. Yet, according to Buffer, only 25% of companies publish videos weekly.
- 43% of marketers say they would produce more content, but feel that they don’t have the time, money, or resources to invest in video.
We hear this a lot: video is expensive or it’s hard. That might have been true before smartphones and social media, but all you need is a phone and a connection to the Internet to make a high-quality video.
And, as far as time is concerned, some videos do require a significant time investment. A video content library filled with tutorials, for example, is likely to be expensive and time-consuming. But, not every form of video marketing demands the five-star treatment.
Mobile video’s rise in popularity might not sound all that relevant to marketers, but given the sheer volume of people watching videos on the go, it is vital to make sure your content is optimized if you want to make the most out of your investment.
A few stats for you:
- Google accounts for about 96% of mobile search traffic.
- Facebook found that users are more 1.5 times more likely to watch video on their phones than their desktop.
- 75% of videos played are on mobile devices.
- According to Wordstream research, 92% of users watching mobile video will share that content with others.
Part of the reason that mobile is so important is that video is getting more and more search-friendly, with video preview carousels now part of the Google Search results.
The takeaway here is, whether you’re creating YouTube tutorials or social stories, you should be optimizing your video content for mobile to make the most out of your marketing budget.
Video on Social Media
We’re all familiar with the popularity of Instagram Stories, Snapchat, Facebook video, and YouTube. And there are millions of stats and studies proving that consumers have a strong preference for video content, which makes sense. People watch videos to pass the time, learn something new, or see what their friends are up to.
Where you might think that video is better suited for entertainment purposes, a study from Hubspot found that about 54% of consumers want to see more video content from brands. And social, of course, is the perfect place to share that content.
Here are some social stats that drive home the importance of video.
- On Facebook, video posts get 135% more organic reach than posts containing static images.
- 500 million people watch Facebook videos every day.
- Instagram Stories also see 500 million daily viewers.
- Social media video generates 1,200% more engagement than text and video (think native video or YouTube) combined.
- 600 million Instagram users seek out new products and brands on the platform.
It’s important to note that while customers demand more video content, there’s a sweet spot when it comes to capturing their attention. Wistia research suggests that the top performing videos were about two minutes long.
Longer videos can be effective; however, it’s important to note that deep dive tutorials, longer onboarding videos, and similar types of content are better used further along in the sales funnel. Social videos that you might use as a lead gen method or brand awareness effort are better off keeping things short.
Video and e-commerce
Video and e-commerce are one perfect pair. We actually have quite a few e-commerce clients that have found that sending out Bonjoros has helped them increase loyalty and satisfaction.
One client, Fable Beard Company, found that sending personal videos to its customers after the order has been delivered helped increase its customer return rate by 25%. Another customer, Munk Store uses video to generate positive reviews on Trustpilot. You can read both of their stories--and hear from other Bonjoro customers here.
Here are some additional stats that prove e-commerce and video can team up in a variety of ways to boost sales and satisfaction.
- 55% of shoppers do research on mobile devices ahead of making a purchase.
- A whopping 92% of shoppers say that visuals are the single most influential factor when it comes to making a purchasing decision.
- Online shoppers who watch demo videos are 180% more likely to make a purchase than those who skipped the video.
- And 25% of shoppers head to YouTube to research products before shopping in-store.
The list goes on, but there are some important takeaways within these statistics. For one, it’s clear that people rely on video simply to see what a product might look like in action. That doesn’t necessarily mean that you need to create something complicated.
According to this recent study, people overwhelmingly prefer learning about new products or services through video rather than reading an article or hopping on the phone.
For clothing items, consider adding short videos of models moving around in the item to demonstrate how the fabric hangs when the person moves around. Or, consider using video as a way to give customers a look at the stitching and the texture of the fabric.
For more complicated products, like power tools or kitchen utensils, a demo video can help customers understand the full scope of what a product does and doesn’t do.
Both personalization and video marketing get a lot of play these days within the digital marketing industry, but both are key components of building out the kind of customer experience that gets people to stick around long term.
When video and personalization join forces, you get a powered-up tool that can help you close deals, retain shoppers, or just make people feel recognized.
At Bonjoro, we talk about this dynamic duo all of the time, but here, we’ve brought in some stats that can back us up on this one.
- Over 50% of marketers say that video brings them the highest ROI, as compared to other types of content.
- Though this Campaign Monitor stat applies to email, marketers who adopted personalization can expect to see a 20% increase in sales.
- The average retention rate for personalized videos is 35% higher than videos made for a general audience.
- 75% of consumers say that they are more likely to buy from a company that knows their name, purchase history, and can provide relevant recommendations.
- We’ve found that adding a personalized video has helped our customers reach open rates of up to 85%.
That said, personalization done right means more than just adding the person’s name to a video or the body of an email. If you decide to adopt this strategy in your own marketing efforts, make sure you tailor the content to the recipient.
ROI of Video
We could fill page after page with stats demonstrating the ROI linked to bringing video into your sales and marketing strategies. In a sales context, video is a powerful tool that pushes people closer to closing.
But, we’ll give you a few highlights.
- Video marketers get up to 66% more qualified leads per year than their counterparts who don’t use the medium.
- 52% surveyed customers said that watching a video about a product makes them feel more confident in their purchasing decisions.
- According to Unbounce, swapping out a static landing page for one with video could increase conversions by up to 80%.
We should also mention that you should be measuring the impact of your video marketing efforts on revenue. Clicks and opens are nice, but they don’t tell you a whole lot about the efficacy of a campaign.
We’ll speak a bit about tracking from Bonjoro’s point of view. Within our system, you can review the following metrics:
- Open rates
- Thank yous (yes, we consider these a metric)
- Team statistics
- Click-through rates
Results are displayed like this:
As you can see, it’s pretty easy to track your efforts in a matter of clicks.
You can also sync Bonjoro with your CRM, Shopify, or email marketing tool like Drip or MailChimp. This allows you to see how video correlates with the number of sales made, deals closed, repeat purchases.
These stats prove that video is evolving and expanding its reach and that success with video spans a wide range of use cases.
Not only is it a great way to grow your network and make connections, but it’s becoming an SEO advantage and a way to make a personal connection in a world where we may never meet the people we do business with.
As mentioned, Bonjoro’s focus is on 1:1 video, allowing our clients to quickly put together a message that speaks to your customers and leads on a personal level. There’s no major time investment and the only AV equipment you need is your phone or webcam. Every Bonjoro can be customized with the right CTA and branding--and tracking performance is a breeze.
Start your free trial and we’re sure you’ll become a video convert in no time.