As you prepare your branding and marketing strategies for 2022, you’ll want to make sure you get it right with your business videos. These 22 stats will help guide you with ways to make the wisest, most effective use of those videos. Get ready to boost your sales with video!
1. The Internet Highway
How busy is the internet getting with videos? According to Social Media Week, as 2022 gets underway, video will account for more than 82% of all internet traffic… That’s a 52% increase over last two years! (Wyzowl)
2. Know Your Competition
Video marketing has established that it is the norm, not a trend. While 93% of marketers use businesses videos as a part of their strategy (Wyzowl), what does that actually look like? A Limelight survey revealed 70% respondents share between 1-4 videos per month across marketing channels. What about those non-video marketing hold-outs? 69% of them planned to start using video in 2021. (Wyzowl)
3. Watch Your Tone
Formal sales pitches just don’t cut it on social media platforms. 83% of respondents said they prefer a more conversational, informal tone from marketing. (Wyzowl) Could it be that customers are looking for that personal connection in the digital marketplace?
4. Get it Right
With the bombardment of images and pitches vying for consumers’ attention, two criteria stand-out in importance. According to consumers, the top traits for engaging video are a clear messaging/storyline and authenticity. (lemonlight)
Images and videos are absorbed into our memories better and more quickly. It’s not just the short term either. People who view videos retain 95% of the information. (Social Media Week)
6. Video – Your Channel for Discovery
How are people learning about new products today? According to Animoto, the #1 way consumers discovered a brand they later purchased from was through video ads. And if you could choose only one social platform on which to post your video content, where would it be? Well, that’s pretty evenly split according to these Lemonlight pollers: 26%-LinkedIn, 25%-Facebook, 24%-YouTube. Each platform has its strengths. The key is that your videos are out there to be found and seen!
7. All Hail King YouTube
YouTube rules over the other video-sharing platforms in a lot of areas. With over a billion hours streamed per day, 90% of people say they discover new brands or products on YouTube. (Google) Many sales come through YouTube too, with 87% of people saying when shopping or browsing on YouTube, they feel they can make a decision of whether to make a purchase more quickly or not. (Google)
8. Lord of the Facebook
Facebook actually has a larger base of active users than YouTube. If you’re going to take advantage of that, you’ll want to apply these tips to be more viewable. Square videos may have been necessary a few years ago, but vertical is the trend now. While most video producers film on their phones horizontally (landscape), 75% of viewer are watching on their phones vertically. (Social Media Week) Vertical videos work well for live and casual-style talking head videos. In addition to views, a SocialInsider report revealed videos shot in landscape garner the average engagement rate of .25%. Vertical videos are ahead at .35%.
The optimal length of a video to drive engagement continues to hover between 2-5 minutes. (Social Insider)
9. Text for Silent Viewing
Captioning videos on social media (and websites) is essential. Many viewers have their sound off or turned down as they scroll by your content. According to Verizon, 83% of viewers watch without sound across all devices. To gain a quick understanding of video content, viewers also rely on good descriptions. In this case, better actually corresponds with longer. Descriptions on Facebook Videos with over 300 characters had the highest average engagement rate at .39%. (SocialInsider) Captioning and descriptions ensure followers catch your message without inconveniencing them with sound… especially when they’re supposed to be working. Videos designed for silent viewing (image/text based) or with captions are 70% more likely to retain viewers on LinkedIn to the end.
You may be surprised to discover that informative videos beat out entertaining ones for “most engaging” by 44% to 37%. Promotional videos came in last with 19%. (Renderforest) I think that shows consumers want value from what they see, and if that can be done in a fun, engaging way – all the better!
11. Not just leads
While business videos are good for generating leads, their ability to make qualified leads is even better news to marketers. In fact, while 84% of marketers say video content generates more leads (Wyzowl), 66% believe video allows them to generate more “qualified leads.” (Optinmonster) This is because consumers gain a better understanding of your company’s products or services.
When qualified leads grow up, they become conversions. A good video strategy won’t just get them in the door; it helps guide them to the purchase. A website landing page that includes a video increases conversions by 80% and 84% of consumers were convinced to buy a product/service after watching a brand video. (Wyzowl)
With a bit of upfront work, videos can produce some good Return on Investment including boosting website traffic, increasing time spent, generating leads, increasing understanding of a product or service, and improving customer support. 78% of marketers said video has directly increased sales (Wyzowl) and marketers who utilize video marketing strategies grow revenue 49% faster than businesses that don’t.
14. What Makes them Effective?
Video offers the unique ability to showcase in-depth or “boring” information in understandable ways like with animations, graphs, and graphics. A Wyzowl report shared that the vast majority of people (69%) would prefer to watch a short video to learn about a product or service over text, infographics, manuals, webinars, or sales calls/demos.
If you’re aiming for Business to Business marketing, videos can be a great way of generating leads and providing value. In fact, 62% of marketers think video is an effective tool for B2B marketing (Event Manager Blog). While not the favorite for casual social media scrollers, webinars are very helpful for B2B. A report by on24 revealed the conversion rate of webinars was as high as 55%.
Want to give value to your clients? Create explainer videos. Whether a customer is researching a product or looking for support, explainers take the guesswork away from decision-making and establish your credibility. In fact, 94% of respondents said video helped them make a purchase decision. (lemonlight) And according to another study, 96% of consumers watch an explainer video for more info about products or services. (Wyzowl) With percentages like those, it’s no wonder explainer videos beat out regular social media videos, presentations, sales, and ads for the most common marketing videos at 73%. (Wyzowl)
17. Personalized Videos
Personalized marketing helps the needs and desires of consumers. A survey with MarketingCharts discovered 48% of respondents found videos personalized to products they owned or were interested in to be helpful in their decision-making process.
You may have already been using video to your advantage in emails and targeting them with content they’d find helpful, but have you considered making the actual video personalized? When viewers open a video that is addressed specifically to them, they are more likely going to take an interest. In fact, a personalized video could retain viewers 35% more often than a generic video! (WebsitePlanet)
18. Live Video
Streaming of live content has increased a lot since it started being a “thing” across social platforms a few years ago. Live videos encourage more engagement and longer views, and not just for content producer with tons of followers. Social Insider reported that Facebook users with under 10k fans (which includes many small businesses) were met with a 1.59% average engagement rate for live videos versus .92% for pre-recorded videos. That’s higher engagement than user categories with more fans! You can expect the impact of live videos will continue to grow in 2022. In fact, Eventbrite shared that 96% of event planners will stream their events live this year. It’s not just for events either. The live video market is expected to grow to $184.27 billion by 2027.
19. Interactive Video
If you have the vision and capacity for it, interactive video is an investment into future markets. Obviously, engagement and viewing time benefit greatly from the interaction, but it’s not just good for keeping short attention-spans from getting bored. Interactive videos have the capability for being heavyweights in guiding visitors to and through your website, increasing traffic, leads, and sales. Currently, 29% of marketers aim to make 10-20% of their content interactive within two years. (Wyzowl)
20. VR and AR
According to the Boston Consulting Group, it looks like Virtual Reality and Augmented Reality are about to boom! As retail marketers tap into its potential for virtual shopping and demo experiences, VR and AR are expected to double in global market growth between 2021 and 2022, multiplying to a whopping $296.9 billion in 2024.
22. Bang for your Buck
Everything costs money and video is no exception. Decide what your video marketing needs are and then you may have a better idea how to best invest those marketing dollars. According to Lean Labs, these are the average costs for three levels of video production:
Don’t worry if you don’t have a big budget to drop on your video needs – you’re in good company. Research through Lemonlight showed that 62% of respondents planned to spend under $2,500 on their next video. It is possible to create a great video marketing campaign at an affordable price!
22. Challenges to Getting Started
There are a lot of reasons businesses struggle getting started with their marketing videos. I bet some have come to mind while reading this blog! A survey with Wave.Video showed the reasons below were among the top answers:
Looking to outsource the burden of producing your video? We pride ourselves in affordable, professional video production for small businesses. Contact us to learn more information.
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