Video has changed the way people do just about anything online. People watch videos for entertainment, to learn new skills, to research products, and many other reasons. For marketers, the potential of video is practically limitless.
Whether you’re operating a small business by yourself or contributing to a Fortune 500 company, video marketing should be on your radar. As demand for video rises, more and more platforms have emerged as viable marketing channels for businesses of all sizes. In the coming years, video will change how small businesses market to customers in their own neighborhoods and how bigger businesses expand their global reach.
Simply put, video is the next major frontier in digital marketing and it’s already becoming pretty crowded. Here, we’ll share some of the most important video marketing statistics and trends that illustrate the power of video in 2020 and beyond.
In 2020, a strong majority of businesses use video. In 2016, the number was just 61% and increased to 87% by 2019. Somewhat surprisingly, 2020 saw a minor dip in the percentage of businesses using video, but it’s not expected to continue trending that way.
In 2015, 78% of marketers felt that video was an important part of their marketing strategy. In the past five years, that number has risen to 92% of marketers.
We’ve heard about people “cutting the cord” but the transition from TV to online is even more dramatic than many realize. A full 60% of people would rather watch videos online than television.
The vast majority of Americans watch video content every month. The 25- to 34-year-old demographic watches the most online videos, while adult males spend 40% more time watching videos online than females.
Unsurprisingly, YouTube is the most popular video marketing platform, used by 88% of marketers. Facebook is second, used by 76% of marketers. Third is a relatively new video platform: LinkedIn, with 66% of marketers using it.
Consumers prefer video. Animoto’s Social Video Trends for 2020 found that 73% of consumers claim that they’ve been influenced by a brand’s video presence when making a purchasing decision.
Video marketing, like most other marketing channels, isn’t free. But you can trust its value knowing that more than 90% of marketers are satisfied with their strategy’s ROI.
Sometimes, the most important thing a business can do is just get traffic on its web pages. Video has proven to do that well.
More traffic should generally lead to more sales and, for the most part, video marketers say that is the case. It makes sense, considering that 80% of consumers also say they’ve bought a product after viewing a video.
Video isn’t just valuable for B2C companies. B2B marketers also report video increases qualified leads by 66% every year without having to make a significant additional investment.
A surprising byproduct of video marketing? Improved customer support. When people can use your videos to learn about a product or service, they’re less likely to have questions that need answers.
Consumers have gotten used to using videos for shopping, which is why shopping-related videos have grown exponentially in popularity.
Marketers love to think about the different habits and trends of various generations, and there may be no more telling statistic than this one. More people in the highly desirable 18- to 49-year-old demographic use YouTube than watch all cable networks combined. Over time, YouTube will only put more distance between itself and cable.
This enormous number speaks for itself—more than one billion hours of video every single day is an astonishing number.
Despite YouTube’s overwhelming share of the market, LinkedIn has emerged as the most successful marketing channel for video marketers in 2019. A whopping 87% of marketers who used LinkedIn described it as an effective video marketing channel in meeting their goals, compared to 83% for YouTube.
Seventy-nine percent of video marketers say they use Facebook, and 85% of them say it has been a successful channel, compared to just 83% for YouTube. Do you notice a trend here? While YouTube may have the greatest viewership, it’s also a crowded space for marketers.
Once considered a disruptor in the video marketing business, Snapchat has been a disappointment as a marketing platform. Only 11% of video marketers used Snapchat in 2019 and fewer than half of them report seeing success.
Today, many marketers are looking towards TikTok as an emerging platform with massive potential. Yet only about 10% of video marketers have actually tried TikTok to date. Of those who have, 66% report seeing success.
While most consumers say they’ve bought a product after seeing a video of it, only 55% of shoppers say they use video while shopping. That suggests that video is more of a closer at the end of a buying journey rather than a driving force through the funnel.
While video is a great tool to turn browsers into buyers, it’s more valuable as a tool to answer questions about your product or service or provide value to customers’ lives.
According to Vidyard research, about 68% of people will watch a business video all the way through if it’s under one minute. If it’s over 20 minutes long, only 25% of people will watch it all the way through.
Everyone says they hate ads and the data bears that out. Most viewers try to skip ads as soon as possible, making actual video content more valuable than ads.
Know your audience and how they watch their content. Most Facebook users watch videos without sound, meaning your videos should be optimized for silent viewing. Viewers tend to watch Instagram Stories, on the other hand, with the sound on.
People watch videos all the time. While you may not have the resources to post something every day, posting at least one video a week will help you reach more people.
The reason people watch so many videos is because they enjoy them. As such, they want to see more video content from their favorite brands.
Great content is shareable. The more people share your content, the more potential leads you’ll receive. Makes sense, right? Then it should make sense why video content is so valuable considering people are twice as likely to share it than any other form of content.
The growth of mobile video consumption is practically unstoppable. At some point, this growth rate will plateau, but it’s probably not any time soon.
This statistic is from 2019. It represents a 59% increase from just three years prior in 2016, and the number is very likely even higher now.
Video is carving out a significant chunk of the Internet. So much so that Cisco believes it will make up more than three-quarters of all internet traffic in just two years. That would be an 88% increase over the 72.3% traffic share that video had in 2017.
Video is working so just about all marketers say they’ll continue to use it going forward: 95% of marketers say they plan to increase or maintain their video marketing budget, too.
Video marketing is here to stay. Most marketers now view video as one of the most viable and important marketing channels, and consumers agree. In fact, consumers want to see more video. Whether you’re using video to advertise your product or teach people how to use it, these video marketing statistics show the immense potential for this type of marketing for businesses of all sizes.
Read more helpful business-related statistics and data:
Small Business Marketing Statistics
Nick Perry is a freelance writer based out of Boston. After working in Hollywood and Silicon Beach, he launched his own small business and frequently referenced Fundera’s resources. Now, he’s a contributing writer at Fundera. Nick has written extensively about small businesses, ecommerce, the restaurant industry, and entertainment. His work has appeared on Entrepreneur, Digital Trends, Toast’s On The Line, and more.