The Power of Video Marketing
A few years ago, we said that video marketing was taking over. Now, we can confidently say that the takeover is complete. In recent years, there has been a dramatic uptick in the dominance of video, and it’s not slowing down. Video dominates the marketing landscape on every platform and for virtually every demographic. If you’re not working in video, you’re getting left behind. Don’t believe us? Consider this:
Online video consumption has been increasing over the past years. As of 2023, the average viewer spends 17 hours a week watching digital videos. On Facebook, over 4 billion video views occur each day. To cap it off, online videos have an audience reaching 92% of the worldwide population.
All of this comes alongside unprecedented fragmentation. It wasn’t long ago that there was one way to consume video content: your TV. Now there’s YouTube, Netflix, Amazon Prime, Hulu, Snapchat, Facebook, Instagram, and dozens of others. Consumers are cutting the cord from traditional TV broadcasts and separating into smaller communities watching only the exact content they want to see. Marketing is changing — you’ll need to change with it.
Social Media Platforms And Video Marketing
It’s not a trend — social media as a platform for video content isn’t going anywhere, at least not anytime soon. Yes, video is more difficult to create than text posts and links, but if you don’t have a plan to incorporate it into your social media strategy, now’s the time to start.
Let’s talk about platforms. In broad strokes terms, video on social media generates 1200% more engagement than text or photos.
Video posts on Facebook reach 135% as many people as photo posts, according to Forbes. YouTube has reached two billion logged-in monthly users — that doesn’t even count the viewers who don’t use Google accounts when they visit the site. Each day there are over 4 billion video views that happen on Facebook, which is just under YouTube’s daily average of 5 billion views. The average engagement on Facebook videos is 6.01%, higher than any other form of content on the site.
YouTube remains the king of online video hosting, with more than 2.5 billion monthly logged-in users — not as large as Facebook’s audience of 2.9 billion, but keep in mind that YouTube is unique among most platforms in that an account is not required to view content. The actual number is likely to be much higher.
YouTube also dominates video reach — 82% of American adults use the platform, compared to 68% with a Facebook account and 40% with an Instagram account. Unlike other social platforms, which see significant dropoffs in usage with older age groups, YouTube has a strong showing across ages. According to Oberlo, around 20.7% of people who use YouTube are adults between the ages of 25 and 34. Out of this group, 8.8% are women, and 11.9% are men. This is the biggest age group on YouTube.
The next biggest group is people aged 35 to 44, making up 16.7% of YouTube users. Just like the 25-to-34 group, there are more men (9.1%) than women (7.6%) in this group. So, if we put these two groups together, they make up 37.4% of all YouTube users. In simple terms, more than two-thirds of all YouTube users are between 25 and 44 years old.
Instagram began as primarily a photo-sharing platform but expanded to include Stories and IGTV content. In 2020, Instagram launched Reels, a short-form video format that has rapidly grown in popularity to generate 67% more engagement than regular videos. Though the regular feed and Stories can include both videos and photos, 40% of Instagram’s users are creating daily video content through Stories.
X (formally Twitter)
X — once the home of short, quippy, digestible content — is experiencing its own video renaissance. Posts with video are six times more likely to be reposted than text or photo posts, and running posts video ads can boost total video views by up to 95% and increase total video watch time by 84%.
TikTok has not just transformed social media; it’s revolutionized video marketing. The platform has 1 billion active users, making it a goldmine for companies to reach a vast audience–if they play it right. Nearly one-third of users engage daily, and the U.S. leads with 113 million monthly users. Of TikTok’s worldwide users, 53% are Gen Z between ages 18 and 24. A recent study found that this generation favors TikTok over Instagram and Snapchat.
Despite its popularity, TikTok is divisive due to data privacy concerns among one-third of U.S. adults. The average TikTok user spends around 95 minutes on the app each day, offering ample exposure for brands. For businesses, 55% of users purchase after encountering a brand on TikTok. Live shopping, a major trend, presents a lucrative sales opportunity. Q1 2022 saw TikTok raked in $821 million in consumer spending across app stores, solidifying its economic impact.
Even LinkedIn, ostensibly the least trendy social media platform due to its professional-oriented branding and older user base, has seen significant upticks in the effectiveness of video. According to LinkedIn, audiences are 20 times more likely to share a post with a video than any other type of post.
LinkedIn users have also enjoyed significant success with live content — brands see seven times as many reactions and 24 times as many comments on live video as they do on regular video.
Video Moves The Needle
Video isn’t just about being flashy — it actually works. Studies have shown that people need multiple points of contact with your brand to start remembering who you are, what you’re all about, and whether you’re a good solution to their problem.
Video is one of the more powerful points of contact — it generally takes 5-7 times of being exposed to a brand for people to remember it, but video can fast-track that process. When it comes to videos, viewers retain 95% of the message — when it’s text alone, that number falls to 10%.
Video isn’t just about being noticed on OTT services and social networks — it can be a big boost to your bottom line as well. For one thing, search engines notice videos. They constitute a more compelling, relevant, and useful user experience and tend to keep people on your site longer, which leads to an increase in traffic — up to 157% more traffic from search engine results pages.
Video can also help increase conversion on your landing pages once people reach your site. IF you have a landing page that’s trying to convert a visitor to a customer or even just to solicit a follow-up, an explanatory video can increase conversion by up to 80%.
Consider product videos as well. If you run an online store that carries thousands of SKUs, making a video for each one might not be plausible, but we’re willing to bet you have a few cash cows that sell in much higher quantities than the rest. Make a video showcasing what they look like, how they work, and their best features. Some of those videos can be reused — for example, if you make a video about how to change a bike tire, it can be embedded on the product page for every tire you sell.
Customers want to see product videos — nearly half of them look for videos before committing to purchasing a particular product, and 64% of customers make a purchase after watching a branded video on social media.
Of course, we’re not discounting the possibility that people who watch product videos are already farther along in the buyer’s journey and ready to buy in the first place. But we all know that the buyer’s journey isn’t a guarantee — someone on the verge of purchasing might change their mind and go elsewhere if they don’t find the information they need. A product video is a branded, useful, timely piece of content that can turn an almost-purchase into a repeat customer, and that tipping point is too valuable to ignore.
Video Marketing is More Than Just Ads
Over the past few years, the usage of online video shifted significantly. In addition to video advertising and influencer video, brands started to use both live and pre-recorded video for a variety of other purposes in order to engage with their customers:
- Webinars: when in-person events are impractical or too expensive, broadcasting a webinar in order to disseminate important information is an excellent alternative to long-form written copy.
- Demonstrations: companies can create useful, in-depth demonstrations of their products to help people who are too far away for a local demonstration, helping with product adoption and customer satisfaction
- FAQs: customers retain information much more effectively from video content than they do from written content, so you can address your customers’ most common issues and questions with video and ward off a significant number of service calls.
- Testimonials: your prospective customers are much more likely to trust a testimonial from an existing user than they are to trust any of your marketing materials, and that credibility is only boosted by video content. If your customers are willing to participate, video testimonials can be a powerful marketing tool.
The Power of Video Marketing
In recent years, video marketing has not only taken over but solidified its dominance across various platforms and demographics. The surge in online video consumption has been undeniable, with the average viewer dedicating a staggering 17 hours per week to digital video content. On Facebook alone, over 4 billion video views happen every day, and online videos have a reach that encompasses a remarkable 92% of the global population.
This era of video ascension coincides with a period of unprecedented fragmentation. Gone are the days when TV was the sole medium for video content consumption. Today, platforms like YouTube, Netflix, Amazon Prime, Hulu, Snapchat, Facebook, and Instagram, among others, offer specialized content that caters to niche audiences. The traditional television landscape is changing rapidly, and for businesses, this shift necessitates a corresponding transformation in marketing strategies.
Social Media Platforms And Video Marketing
The integration of video content into social media platforms is no longer a trend but a fundamental aspect of modern marketing. Despite the inherent challenges of video production, it is imperative for businesses to incorporate video into their social media strategies.
Across social media platforms, video content generates an astounding 1200% more engagement compared to text or photos.
Video posts on Facebook have a reach that is 135% larger than photo posts, as reported by Forbes. YouTube, with over two billion logged-in monthly users, rivals Facebook in terms of sheer numbers. While Facebook records more than 4 billion daily video views, YouTube maintains a daily average of 5 billion views. Moreover, the average engagement rate for Facebook videos is a remarkable 6.01%, surpassing other types of content on the platform.
YouTube remains the undisputed leader in online video hosting with over 2.5 billion monthly logged-in users, a number that is likely higher when accounting for non-account holders. Notably, YouTube enjoys a strong user base across all age groups, with 20.7% of users falling in the 25-34 age group and 16.7% in the 35-44 age group. Collectively, those between 25 and 44 years old represent more than two-thirds of all YouTube users.
Instagram, initially a photo-sharing platform, has rapidly embraced video content. In 2020, Instagram introduced Reels, a short-form video format that has proven to be 67% more engaging than regular videos. About 40% of Instagram users now create daily video content through Stories.
Twitter, formerly known for its brief textual content, has experienced a resurgence with video. Posts featuring video content are six times more likely to be shared than text or photo posts. Utilizing video ads can boost total video views by up to 95% and increase total video watch time by 84%.
TikTok, a transformative force in social media, has revolutionized video marketing. Boasting 1 billion active users, it offers a vast audience for businesses to tap into. Almost one-third of TikTok users engage daily, and the U.S. leads with 113 million monthly users. While concerns about data privacy persist among one-third of U.S. adults, the platform’s users spend approximately 95 minutes per day on the app, making it a valuable space for brands. Notably, 55% of TikTok users make purchases after encountering a brand on the platform, and the platform’s live shopping feature presents a lucrative sales opportunity.
Even the professional-oriented LinkedIn platform has seen significant improvements in the effectiveness of video content. According to LinkedIn, audiences are 20 times more likely to share a post with a video than any other type of content. Live video content on LinkedIn is particularly impactful, resulting in seven times more reactions and 24 times more comments compared to regular video posts.
Video Moves The Needle
Video isn’t just about capturing attention; it also drives results. Studies have demonstrated that people need multiple interactions with a brand to remember and trust it. Video stands out as a powerful way to achieve this, as viewers retain 95% of the message when it’s delivered through video, compared to a mere 10% when conveyed through text.
Beyond raising brand awareness, videos enhance website performance. Search engines favor websites with video content, as videos provide a more engaging user experience and keep visitors on a site longer, resulting in up to 157% more traffic from search engine results pages. Moreover, video can substantially improve conversion rates on landing pages, with explanatory videos increasing conversion rates by up to 80%.
Product videos play a vital role, with nearly half of customers searching for videos before making a purchase decision and 64% making a purchase after viewing a branded video on social media. Product videos offer essential information that can turn potential buyers into repeat customers.
Video Marketing is More Than Just Ads
In recent years, online video usage has evolved significantly. Beyond video advertising and influencer content, brands have harnessed both live and pre-recorded video to engage with customers in various ways:
Webinars: When in-person events are impractical or expensive, hosting webinars becomes a viable means to disseminate crucial information and engage with a wider audience.
Demonstrations: In-depth product demonstrations help potential customers understand a product’s features and benefits, especially when they are too far away for an in-person demonstration.
FAQs: Video content is more effective at conveying information than written content, making it an excellent choice for addressing common customer questions and reducing service calls.
Testimonials: Customer testimonials in video format hold a high level of trustworthiness, influencing prospective customers more than traditional marketing materials.
In conclusion, the supremacy of video marketing is evident, and its impact is felt across numerous social media platforms. Businesses must adapt to this ever-evolving landscape, utilizing video as a powerful tool not only for brand visibility but also for improving website traffic, conversion rates, and customer engagement. The era of video marketing is here to stay, and those who embrace it will undoubtedly reap the rewards in this dynamic digital age.