Have you hopped onto the video marketing bandwagon yet? For those who own a small enterprise or work as solopreneurs, an overwhelming body of evidence indicates that online video marketing should claim a hefty portion of your advertising and marketing budget.
Have you hopped onto the video marketing bandwagon yet? For those who own a small enterprise or work as solopreneurs, an overwhelming body of evidence indicates that online video marketing should claim a hefty portion of your advertising and marketing budget. Here’s a compelling statistic to grab your attention:
Dr. James McQuivey of Forrester Research equates the worth of one minute of video to this colossal amount of written content.
Can you afford the time and stamina to craft 1.8 million words? This equates to approximately 3,600 average web pages. If you take an hour to draft one web page, you would need 150 days of consistent writing to match the impact of a mere minute of video.
Viewed from this perspective, online video marketing emerges as the most pragmatic application of your marketing efforts and resources. Still unconvinced? Here are 15 more persuasive video marketing statistics that should compel you to take action.
comScore, which tracks online engagement and use, reveals this as the percentage of internet users who watch at least one online video within a month. The average user encounters around 32.2 videos in a month, enhancing the likelihood of your marketing message being noticed. But how does this translate into actual numbers?
This figure represents the number of internet users who view online videos daily. While many of these views may be attributed to the latest viral cat video or an adorable child, a significant portion of viewers seek advice on various tasks or wish to learn more about products or services. Many are potential customers in the making.
This is the percentage of online shoppers at a significant retailer's website who stated that video aids their shopping and buying decisions. Retailers who incorporate online videos to showcase their products observe that products featured in videos sell considerably more than those without videos.
This percentage represents executives who informed Forbes that they watch work-related videos on business websites at least once a week. The results detailed:
As per comScore, this is the average duration a user spends viewing online video ads monthly.
Key Insight: If your marketing strategy excludes video marketing, you are missing out on a colossal market opportunity. It's not just the number of people watching videos that's crucial, but the reasons why they watch it. When you upload a marketing video onto a business website, you create a promising avenue of engagement with busy executives who are potentially seeking your services but may not have initiated contact for a presentation. Your marketing video offers you a powerful platform to articulate your value proposition and attract leads.
The Online Publishers Association notes that this is the percentage of internet users who recall viewing a video ad on a website they visited within the last 30 days. The impact is even more promising as out of that 80%, 46% took some form of action after watching the ad. Specifically:
This figure denotes the increased likelihood of website visitors purchasing a product on an online retail site after watching a video. Additionally, according to comScore, visitors who watch videos spend an average of 2 extra minutes on the site compared to those who don't view videos.
An Australian real estate group reported that listings featuring videos receive 403% more inquiries than those without, translating to four times the leads.
Forbes Insight states this as the percentage of senior executives who prefer watching a video over reading text. Around 65% of these executives click through to visit the vendor website after watching a video, 50% seek more information, and 45% reported contacting a vendor after viewing an online video ad. Approximately 50% of those who viewed an online marketing video went on to make a business purchase.
A 2010 Implix email marketing survey found that incorporating a video in an introductory email doubled the click-through rate.
The Forrester Marketing group surveyed businesses in 2010 and found that including a marketing or explainer video in an email boosted the click-through rate by 200% to 300%.
Eloqua, an automated email marketing provider, noticed that including a video in an introductory email decreased the number of subscriber opt-outs by 75%. Maintaining this contact is crucial for building relationships with prospects.
One online marketer recorded a 51% increase in subscriber-to-lead conversion rates when a video was included in an email marketing campaign.
Key Insight: Video marketing boosts sales and leads. If you're not employing video marketing, you're ceding customers to your competitors who do. Businesses that incorporate video marketing into their comprehensive marketing strategy experience higher engagement rates, higher click-through rates, and higher conversion rates. Why let all this potential value go unclaimed?
According to Visible Measures research, this is the timeframe you have to capture viewers' attention in a video marketing clip. It reveals that 20% of your viewers will leave a video within 10 seconds or less.
You can expect to lose about 1/3 of your viewers by 30 seconds, 45% by 1 minute, and nearly 60% by 2 minutes, irrespective of the video length.
The good news is that mobile users appear to have a longer attention span. iPhone users tend to watch for about 2.4 minutes, Android users engage for three minutes, Symbian users for just over 4 minutes, and iPad users demonstrate the longest attention spans, staying with a web video for an average of 5 minutes.
Sysomos reports this as the percentage of YouTube videos that are embedded, linked, or shared on Tuesdays between 11 a.m. and 1 p.m.
Jun Group's research (2011) suggests videos 15 seconds or shorter are shared 37% more often than those lasting between 30 seconds and 1 minute. Longer videos see this stat decrease, with videos longer than 1 minute shared only 18% more often.
Key Insight: To be effective, video marketing must engage viewers from the outset, but how can you determine where your video fails to retain interest? That's where video analytics come into play. Comprehensive video analytics provide insight into who's watching your video, their level of engagement, and the exact point at which they disengage. With this information, you can refine your message and target it more accurately. If you haven't launched your video marketing campaign yet, isn't it high time you took the leap? There's nothing to lose and a potential profit increase of 403% waiting for you.
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