Video marketing has changed tremendously in a relatively short period of time. The change was brought about largely due to the rate at which technology (and consumer tastes) continue to advance. A huge part of your online marketing success is dependent on your ability to keep up with the ever-changing landscape of video marketing.
So whether you’re planning to leverage video content to promote your services, or you’re already using videos in your content strategy, you’re probably asking yourself:
Where is the video going?
And that’s exactly what we’re going to answer with this blog post. Here are the top ten video marketing statistics that you need to know for 2019 which show you how far we’ve come and, more importantly, where it’s all headed.
1. The video isn’t going to burn out nor fade away anytime soon
Videos are already an omnipresent part of our digital lives. Right from Roku channels to YouTube, Netflix, and Hulu. But believe it or not, it’s only going to get more popular over time. This is especially true in the short-term, as one study estimates that 80% of all Internet traffic will be video-based by the end of 2019. If you don’t already invest heavily in video, you will soon be an outlier – and not in a good way from the point of view of your audience.
2. The increased popularity of the mobile space
According to another study conducted by the Interactive Advertising Bureau, marketers increased their spending on both mobile and digital video-based ads by a stunning 95% between 2014 and 2016. When you also consider that we’re about to enter an era of mobile devices with bendable screens, built-in projectors, and OTT Apps, you can expect even more attention to be focused on these core areas moving forward.
3. Video matters more than you think
If you’re still the type of person who thinks that video might not have a place in your larger marketing strategy, you’re definitely going to want to think again. Another recent study revealed that marketers who use video tend to grow revenue for their brand at a rate of about 49% faster than those who don’t. Your customers want video content and it’s up to you to give it to them – don’t forget that.
4. Two minutes
Just two short minutes is roughly the amount of time you have to not only earn someone’s attention – but keep it for the duration of your video. About 5% of people will stop watching after just one minute – not great, but not terrible. You’ll lose a massive 60% of those who are left by the end of the second minute if you don’t give them a reason to continue… so it’s absolutely in your own best interest to do so.
5. Making good use of the 46%
Another study revealed that by the end of a video, on average, you’ll have about 46% of your original viewers left. This isn’t bad – but it could certainly be better. Video length, for example, goes a long way towards improving retention. Above all else remember to keep your content as short and as “no-nonsense, to the point” as it can be.
6. It’s all about education
Video in and of itself isn’t enough to get the job done. In 2019, you need to know what type of content your audience is looking for – that’s how you stand out in a crowded marketplace. For example, another study revealed that 90% of average buyers find product videos a “very helpful” part of their decision process. Many businesses have already started creating an eLearning hub for their customers, to educate them about their products and services.
Consumers want to watch a video before they make a purchase, so you’d better have that content available for them to get them to come down off the fence and make that sale.
7. The ripple effect
But just how many sales will “very helpful” amount to, anyway? In a word, “tons.” Another recent study revealed that 73% of people say that they’ve purchased a product after watching a video about it. So again – your audience is telling you what type of video content they want in 2019. But more than that, they’re also voting with their wallet. At this point, all you have left to do is listen to them.
8. Never let anyone tell you that you’re “too small” for video
Fascinatingly, another study revealed that while larger companies tend to produce more videos on average, there isn’t actually a direct correlation between a company’s size and the total number of videos they publish. Companies with less than $10 million in revenue often meet or even exceed the results their larger competitors are able to hit. This means that regardless of the number of resources you’re working with, regardless of the size of your company, you can create compelling videos on virtually any budget — and don’t let anyone tell you differently.
9. It’s not just about leads – it’ about qualified leads
Qualified leads are another pivotal area where video shines. According to another study, video marketers tend to get 66% more qualified leads every year than those who are still relying on older techniques. Yet another in a long line of reasons why, if you’re not already leveraging video to your advantage, now would be an excellent time to start.
10. The shape of things to come
Looking forward, know that 99% of marketers say that they will continue to rely heavily on video collateral across all of 2019. 88% say that they’re going to spend more than they did in previous years. 90% of the video marketers working today feel the level of competition (read: noise) has increased in the past year. This means that as 2019 marches on, “video” alone isn’t going to be your savior. Everyone is using video at this point. Many companies are going as far as launching their own OTT service. You need to publish videos around the right messages for the right audience at precisely the right time. That’s the only way you’ll be able to cut through all that noise and cut right to the heart of the results you’re after.