Brands use video marketing to help them achieve various marketing and sales goals. Although creating such content may be challenging for marketers, when brands combine creativity and customer insights, it’s a win-win situation.
Here are 8 statistics regarding video consumption and the results reported by brands who used video marketing (source: wyzowl):
- Where both video and text are available on the same page, 72% of people would rather use video to learn about a product or service;
- In a typical day, people watch 1.5 hours of video on average and 15% watch more than 3 hours of video;
- If you create video content that your specific audience enjoys, 83% of consumers would consider sharing it with their friends;
- 85% of people say they expect to see more video from brands in 2018;
- Sales increase – 76%;
- Traffic increase – 76%;
- Increased dwell time on website – 80%;
- 81% of people have been convinced to buy a product or service by watching a brand’s video.
Vidyard, a video platform that helps businesses transform communications and drive more revenue through the strategic use of online video, has released its 2018 Benchmark Report – Video in Business.
Their insights are based on first-party data collected from the Vidyard video platform from more than 600 businesses and over 250.000 videos in a 12 month period.
Here are the findings of Video in Business report:
Consumption of business-related video content
Consumption of business-related video content is predominantly taking place on desktop browsers – 89% desktop, 11% mobile.
58% of video views are performed on Chrome.
The highest traffic time is middle of the week
The highest traffic is on Tuesdays, Wednesdays and Thursdays with 18%.
The highest viewership on Tuesdays, Wednesdays and Thursdays is between 10 am – 13 pm, while on Mondays and Fridays the viewership shifts to 12 pm – 15 pm.
The lowest viewership for business videos is on Saturdays and Sundays.
The industry with the highest number of videos published in total
The industry with the highest number of videos published is High Tech with 637 videos, followed by Professional Services with 274 videos and Media, Entertaining & Publishing with 247 videos.
A company in High Tech publishes on a monthly average a number of 53 videos.
The months with the highest number of videos are August, October and November – 11%.
Video production resources
47% of large companies use a combination of internal and external resources while 54% of small businesses and 50% of medium businesses use internal resources to produce their videos.
Top 3 Video content by type
63% are product related videos, 59% demos, 54% explainer videos.
Top 3 video distribution channels
86% of companies host their videos on their website, 77% share them on social media and 60% place them on landing pages.
75% of videos are less than 2 minutes, 54% up to 60 sec.
51% of companies use basic video performance analytics, 23% use intermediate, 13% use advanced and the rest of 13% use no analytics at all which means the companies using advanced analytics are twice as likely to report the return on their video investments.
- Videos published on average: 377;
- New videos published every month: 33;
- The video libraries of businesses will double within 12 months;
- Most new videos are published by businesses in High Tech and Professional Services;
- Businesses have seen a growing demand for videos throughout their customer life-cycle;
- Companies use videos for their mid and bottom marketing funnels;
- Businesses using videos on landing pages jumped from 49% to 60%, businesses using video in email jumped from 36% to 46%, video in sales conversations increased from 25% to 37%;
- Companies are either producing very short videos (up to 2 minutes) or long-form videos such as webinars;
- The average retention rate by end of a video is 46%;
- 86% of marketers using advanced analytics reported they were satisfied with their video marketing results.