Video Marketing By The Numbers
By now you might be sick of reading articles about video marketing and why it’s a must for your business. That doesn’t matter, though, because it’s time for another one.
If you’re not using video marketing, you need to ask yourself why. It’s not just a question of videos being popular – although they are. The facts support the urgency. There’s really no excuse not to be using video to market your business.
Key Video Statistics in 2017
If you’re not convinced that video marketing is a must for your business, here are some statistics from WyzOwl that might help change your mind. Let’s start with how many people use video as a marketing strategy:
- 63% of all business say that they make marketing videos, up from 61% last year
- Of the 37% of businesses that have not used video in the past, 34% say they intend to start in 2017
While those numbers are significant, what’s impressive is the return these companies get from their investment in video. For example, 83% of companies who use video marketing say it earns them a good ROI.
The positive results of video marketing are clear when we look at the way consumers react to explainer videos that teach them about a product or service. For example:
- Most consumers (91%) say they have watched at least one explainer video to learn about a product or service.
- 79% of consumers say they would rather watch a video to learn about a product than read about it.
- Even more impressive is the fact that 84% of consumers have decided to buy a product after watching an explainer video.
The popularity of explainer videos translates into increased sales. In fact, 82% of businesses who have an explainer video on their website say that the video has helped them increase sales.
The takeaway here is that video marketing works. Having an explainer video isn’t going to convert 100% of your visitors – nothing can do that – but it can certainly help people understand your product and convince them to buy it.
Elements of a Successful Explainer Video
All explainer videos are not created equal. If you want to kick off your video marketing efforts with an explainer video, the research reveals certain things that can help you get the ROI you need.
First, consider the overall length of your video. The study cited above shows that 50% of consumers said that the best length for an explainer video is one minute. 33% said they preferred videos between one and two minutes long, while a minority of 17% preferred videos under one minute in length.
Of course, some products and services might require longer than a minute to explain. It is perfectly acceptable to go over a minute, but avoid going over two minutes unless you want to lose a significant percentage of your audience.
Another element of your explainer video to consider is the voiceover. Some companies opt for a very formal voiceover style, but there is evidence to suggest that consumers prefer something more approachable than that.
When asked, 83% of all consumers said they preferred in informal voiceover style where the speaker talked as if addressing a friend or family member. Almost as many, 75%, said that a speaker who irritated or alienated them might ultimately dissuade them from buying the product discussed.
Perhaps not surprisingly, the research also reveals a gender divide when it comes to a product’s intended audience. 69% of the respondents said they believed that a female speaker would be more persuasive to a female audience. By contrast, only 53% of consumers thought a male voice would help sell a product aimed at a male audience.
The takeaway here is that an informal voiceover is far more likely to be successful than a formal one. While the survey didn’t ask this question, it seems likely that this preference might tie in to the general public’s desire for social proof. A casual voiceover might seem as if it comes from a peer rather than a marketer.
There’s no single correct format for an explainer video, but here are a few to consider:
- Whiteboard or doodle videos are easy to make and provide a way to visually explain your product that’s more interesting than having someone talk directly to the camera.
- Similarly, animation can be an effective and entertaining to illustrate what your product can do for your target audience.
- Live action product demos may also be a good choice for some products.
- Slide shows with a voiceover may work in some instances, but it’s best to use original drawings or photos rather than stock images.
As long as your explainer video is short, to the point, and uses a persuasive voice and images, it can do a great deal to increase conversions and drive sales.
Video Marketing Options
The final statistics to consider are those having to do with new and innovative types of video marketing. In the past, most companies hosted videos on their websites or on YouTube. You can still do that, of course, but there are other options that have increased in popularity in the past year.
- In 2016, 19% of businesses used Facebook Live as part of their video marketing strategy, but that number is expected to increase to 49% in 2017.
- Snapchat and Instagram videos for marketing purposes are on the rise too. Snapchat is expected to increase from 8% to 27% this year, while Instagram videos are projected to rise from 26% to 42%.
- Other video options to consider include webinars, interactive video, 360 video, and virtual reality, all of which are expected to grow in the coming year.
The bottom line is that using video as part of your marketing strategy in is a must. Consumers prefer video content to written content – and as you know, the customer is always right. With so many options available, there’s no excuse to hold off on making video marketing your go-to option for explaining your product and increasing your sales.