If you’re like most small business owners you're constantly researching new ways to promote your product or service to potential customers. You're in the right place if you've ever considered whether your business could benefit from video marketing. Is video marketing worth your time and money? Do you have the proper resources to create a video? Is your target audience even interested in seeing video from your business? I hope you will see that the answer is an emphatical: YES.
3 additional statistics every business owner should know according to Optinmonster
- Businesses using video get 66% more qualified leads per year.
- Business owners achieve a 54% increase in brand awareness when using video.
- 93% of business owners say they’ve landed a new customer thanks to a video on social media.
These stats should be very exciting if you're a business owner. They show the potential reach of video marketing and solidify the benefits for your business.
So what does the data that we compiled have to say on video marketing? Let's take a look. Keep in mind video marketing should be a part of your digital marketing strategy, not all of it. Use these statistics to help your video marketing strategies dominate your local market.
Not only is video very easy to consume, but it’s also a great tool for learning. "Viewers are 95% more likely to remember a call to action after watching a video, compared to 10 percent when reading it in text format" (Forbes, 2017). Many young adults might not have the time or patience with the busy lifestyles that they are accustomed to. They will not read long product descriptions or dive deep into written content. Video provides today's young adults with an easy and comfortable way to digest and retain information.
"82% of mobile traffic is expected to be video by 2020"
Having mentioned the above facts, it's no surprise that people would pick videos to learn about something that they’re interested in. "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" (Wyzowl, 2018). The best part is that you don’t need a large budget or external resources to help you create great videos. If you are a small business owner, your videos can look just as great as a large company with a professional video production.
When talking about marketing, it all comes down to the return on investment (ROI). If we look at the numbers, "88% of video marketers are satisfied with the ROI of their video marketing efforts on social media" (Animoto, 2018).
Pointing out the obvious, companies use video marketing to increase their sales, build brand awareness, as well as trust in order to keep their current customers informed and to reach out to potential customers. The most common platforms for posting social media marketing videos and video ads are Instagram, YouTube, and Facebook.
"More and more video content is being watched now than ever before. 85% of all internet users in the United States watched online video content monthly on any of their devices"
Peoples preference for video content is not limited to just entertainment. Video content extends to small businesses. "Studies show that 54% of consumers want to see more video content from a brand or business they support" (HubSpot, 2018).
Video content is in higher demand these last few years in most part because people are more likely to pay attention to it. Audio and written content is easily skipped over. For small businesses to get more of the market share and compete in the digital marketing sphere, video is a good way to go.
Whatever you use the internet for, chances are you are seeing videos increasingly across all platforms. Whether it’s Instagram & Facebook ads, YouTube, or blogs, you can expect to see more video content in the future. "Videos are a consumers’ favorite type of content to see from a brand on social media" (Animoto, 2018).
The State of Social Video Marketer Trends report from 2018 suggests that 73% of consumers claim they have been influenced by a businesses social media account when making a buying decision. That is a very promising statistic for small business owners. It quantifies just how popular videos are and what great influence video has on consumer decisions.