Will the mass consumption of videos continue to grow?

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May 4, 2021
Internet Trends, from April 12 to May 12, 2021
May 13, 2021
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Will the mass consumption of videos continue to grow?

If any marketing trend can claim to be the defining tactic of the last ten years, video is surely there.

Images are also easier to remember than written content. Adding data visualizations, infographics, images, and videos to your text not only makes it more interesting and engaging, it can also help your message sink in better.

Video is also the most popular way for consumers to learn about new products.

A decade ago, video was a spectacular and expensive luxury. Since then, it has become a staple, an accessible and affordable must-have to help engage audiences, explain products, and support customers.

Year after year research has shown that people prefer visual content to text. You just have to look at the growth of YouTube to see the proof of this.

And now trends strongly suggest it:

  • Video remains a key priority for marketers.
  • Marketers are feeling more positive than ever about the return on investment that video offers as it continues strongly influencing traffic, leads, sales and audience understanding.
  • Video marketing usage and spend is sure to increase once again.
  • People are watching far more video than ever.
  • Consumers continue to use video as an integral part of their journey with brands and are excited to see even more video content.

On the other hand, to give us an idea of ​​the trends, it is interesting to evaluate the survey on the state of video marketing by Wyzowl carried out at the end of 2019 (at the beginning of 2021 the trends are more accentuated) to evaluate the perspective in 2020 is an annual report, in its sixth edition. Each year, they ask a variety of questions, many of which are the same from year to year, to assess how the video marketing landscape is changing and growing. The survey is conducted with a sample of marketers and consumers.

01 Video Marketing Overview

How many companies use video as a marketing tool and how do they use it?
85% of companies use video as a marketing tool. This was 87% in 2019, 81% in 2018, 63% in 2017, and 61% in 2016.

92% of marketers who use video say it is an important part of their marketing strategy. This was 91% in 2019, 85% in 2018, 82% in 2017, 88% in 2016, and 78% in 2015.

99% of people who use video for marketing say they will continue to use video in 2020.

The most commonly created types of video are explainer videos (72%) presentation videos (49%) testimonial videos (48%) sales videos (42%) and video ads (42%).

18% of first-time video marketers started using video in 2019 because they feel clearer about video ROI.

02 The ROI in the use of video marketing

87% of video marketers say that video has increased traffic to their website.

81% of video marketers say that video has helped increase the average time their visitors spend on the page.

95% of video marketers say that video has helped increase user understanding of their product or service.

83% of video marketers say video has helped them generate leads.

80% of video marketers say that video has directly helped increase sales.

43% of video marketers say that video has reduced the number of support calls they have received.

89% of video marketers say that video generally gives them a good return on their investment.

95% of video marketers planned to increase or maintain their video spend in 2020.

03 Perception of marketers with no experience in video marketing.

Why are some marketers still reluctant to invest in video?

20% of marketers who don’t use videos say they don’t use videos for marketing because they are too expensive.

17% of marketers who don’t use video say they don’t use video for marketing because they don’t know where to start, and the same number (17%) say they don’t feel it is necessary.

13% of non-video marketers say they don’t use video for marketing because they lack the time to invest in video marketing.

10% of marketers who do not use video say they do not use video for marketing because they say they are not clear about the ROI of video, and another 10% say they cannot convince key decision makers.

59% of non-video marketers commented that they hope to start using video as a marketing tool in 2020.

04 The point of view of consumers.

Putting aside what marketers think about video, how do consumers feel about video.

96% of people have watched an explainer video to learn more about a product or service.

84% of people say they have been convinced to buy a product or service by watching a brand’s video.

74% of people say they are convinced that they should buy or download software or an application by watching a video.

When asked how they would most like to know about a product or service, two-thirds of people (66%) said they would rather watch a short video. This compares with 18% who prefer to read an article, website or text post, 4% who would like to see an infographic, 3% who prefer to download an e-book or manual, 3% who prefer attend a webinar or presentation, and 2% would like a sales call or demo.

People watch an average of 16 hours of online video per week, a 52% increase over the past 2 years.

People are twice as likely to share video content with their friends than any other type of content.

86% of people would like to see more brand videos in 2020. Of these, 36% say they would most like to see more educational / explainer video style content, and 14% want to see more demos of products.

05 Video platforms.

YouTube continues to be the most used platform for video marketers, with 85% of video marketers using it in 2019.

83% of video marketers who have used YouTube said it was successful for them.

In 2019 LinkedIn has become the most successful channel for video marketers, with an overwhelming 87% of LinkedIn video marketers describing it as an effective channel.

Facebook has become more effective as a video marketing channel than YouTube with 79% of video marketers using it, and 85% of those people saying it has been successful.

Only 11% of video marketers say they have used Snapchat as a video channel, and of those, less than half report being successful.

TikTok, often cited as a video platform with great potential, remains largely untapped, with only about 1 in 10 video marketers having tried it. However, of those who have tried it, 66% report being successful.

The average success rate of video marketers, across all platforms, is incredibly high. On average, when marketers use video channels, 79% of them report success, although this number differs between platforms.

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And the statistics for video marketing expectations for 2021 and the years to come?

How are companies approaching video marketing for the times to come. Is video marketing growing? Do companies see video marketing as important? These statistics shed some light on general trends in the marketing space and where the industry could move in the coming years.

  • 61% of marketers plan to increase their video spend in 2021 (Postclick).
  • 70% of companies say they are creating more videos now compared to the same time last year. (Animoto).
  • 96% of marketers have invested in video ads. (Animoto).
  • 85% of companies now use video as a marketing tool. (Wyzowl).
  • 92% of video marketers consider video an important part of their marketing strategy. (Wyzowl).
  • 84% of marketers find video creation skills important when hiring for a new marketing role. (Animoto).
  • 51% of marketers are incorporating video content into their ABM initiatives. (NextRoll).
  • Video is the number one communication medium used in content strategy, surpassing blogs and infographics. (Hubspot).
  • 17% of businesses use live video for social media marketing. (Hubspot).
  • 99% of marketers say they will continue to use video in their approach. (Week of social networks).
  • 88% of marketers are committed to spending more dollars on video campaigns in the future. (Week of social networks).
  • Cisco predicts that live internet video will account for 17% of internet video traffic by 2022. (Cisco).
  • 78% of people report that they watch videos online every week, and 55% of those who watch them daily. (Week of social networks).
  • 66% of people say they prefer to learn about a new product or service by watching a short video. (Wyzowl).
  • 86% of people would like to see more brand videos in 2020 (Wyzowl).
  • On average, viewers spend seven hours and 55 minutes per week watching video content online. (Limelight).
  • Online video consumption is increasing across all age groups, with the largest increases seen in people over 46 years of age. (Limelight).
  • 88% of people say that video helps facilitate collaboration and improves efficiency in the workplace. (Limelight).
  • The average person will spend 100 minutes each day watching online videos in 2021 (Zenith Media).