Incorporating videos in marketing strategies can no longer be ignored in 2021. Statistics show that video consumption has been on an upward trajectory for the last 3 years reaching its all-time high in 2020. Projections show that marketing videos consumption will continue on its upward curve in 2021.
Although the creation of marketing videos demands more time and resources, more marketers are adopting this method due to its astounding results. According to a study done by Wyzowl (2020), 92% of marketers who used videos in 2020 say that it is an important part of their marketing strategy.
The study found out that people are currently spending about 16 hours of online video per week, which is a 52% growth in the last 2 years. Technology has become a part of human life as more devices are invented every day.
Today virtual assistants, smartphones, and smart Televisions have seen their way into more homes, a factor that has increased the consumption of video content. According to statistics, 86% of people wanted to see more video content in 2020.
Evidence shows that video marketing is bearing a good return on investment ROI, and its success in marketing is only expected to rise. Here are some reasons why you shouldn’t ignore video marketing in 2021.
Video Marketing Provides Great ROI
Statistics show that 87% of marketers say that video content in general gives them a good ROI. Facebook is the largest social media platform with a population of 2.6 billion. Video content is the most viewed type of content on Facebook. In 2019, 84% of marketers used videos as a channel to reach their target audience.
In 2020, 19% of video marketers said that the ROI of video was clearer and it gave them confidence to invest in video content. 86% of marketers specified that use of videos increased traffic to their website (Wyzowl, 2021). 83% of marketers specified that having videos on their website increased the time website visitors spent on page.
Customers Want Video
Customers are seeking information about products in videos. In 2019, 87%of people stated that they would want to see more video content from brands. In 2020, 94% of marketers specified that use of videos helped them increase user understanding of the product and services offered. Video content is entertaining and could be more inspiring compared to text content, one of the reasons why more people are preferring video content. Statics show that 79%of people have been convinced to buy software after watching a promotion video (Wyzowl, n.d.).
Compelling videos are noteasy to create, but this is what the target audience wants and if you want to make sales you must give it to them. 78% of marketers specified that use of video helped them increase sales directly. 84% of people say that by just watching a video they have been convinced to buy a product and 79% specified that by just watching a video, they were convinced to purchase or download a software or application. 69% says that they want to learn about aproduct or service via a video compared to 18% who prefer text-basedposts.
Save On Support Calls
More people agreed that videos help them understand the product and services offered by a brand. This means they won’t need to contact the brand to get more details about the service or product. 96% of people specified that they watched an explainer video before to learn more about aproduct or service they were interested in. Statistics show that 43% of video marketers agree that video helped them reduce support calls.
Video Increases Engagement
Wyzowl's study found out that increased engagement as aresult of video use was cited by 63% of video marketers. The video marketers agreed that video content increases engagement in the form of Shares, comments and likes. Also, 43% of video marketers stated that they preferred video content for engagement and retention.
Now that it is evident that video marketing is the way to goin 2021, it is important to choose the most popular video viewing format. The two viewing formats are vertical and horizontal. The study by Wyzowl shows that 75% of smartphone users prefer watching videos horizontally. For better results produce videos and publish with the target audience in mind. C180 has a team of experts to help you in creating highly engaging videos and using it in social media promotions.
Wyzowl. (2020). State of video marketing survey 2020: The results. https://www.wyzowl.com/video-marketing-survey-2020/
Wyzowl. (2021). Video marketing statistics 2021 (Brand new data). https://www.wyzowl.com/video-marketing-statistics/
Wyzowl. (n.d.). 5 video marketing statistics you can’t ignore in 2019. https://www.wyzowl.com/video-marketing-statistics-you-cant-ignore/