The Benefits of Online Video Marketing in Statistics
The use of video in online marketing strategies for all types of organisation has skyrocketed in recent years, and serious marketers can no longer afford to overlook this approach.
According to eMarketer, online video was the fastest growing advertising format in 2012, growing by almost 55%.
With online advertising and explainer video now a leading tactic in marketing a brand, we have compiled respected statistics to tell you more about past and forecasted growth rates, as well as the benefits it could provide to you and your organisation.
Increasing Use for eCommerce
Professionally produced video optimised for eCommerce purposes was found by ComScore to outperform user-generated video (UGC video) by 30%, with 24.7% getting watched compared with a lift of 18.7% for UGC videos.
45.9% of online shoppers in the US researched products instore, with the help of smartphones, before ultimately purchasing online, according to eMarketer 2012 statistics. MediaPost figures suggest this figure has surpassed 50%.
That number is expected to rise to 60% by 2017.
Instore shoppers are increasingly using smartphones to access information, and statistics suggest that 65% of shoppers accessed the retailer’s own website, 46% visited a competitor’s website, and 26% went to comparison shopping sites such as shopping.com.
Such information advocates that cross-channel campaigns are more important than ever before for the omnichannel shopper.
After watching an online video, 64% of people are more likely to buy a product online, according to ComScore.
Image courtesy of Kongur, flickr
Consumer Confidence Statistics
According to Internet Retailer 2012 figures, 52% of consumers say that watching online product videos makes them more confident in their online purchasing decisions. When a video is information intensive, 66% of consumers will watch the video at least once more.
According to MediaPost, 57% of consumers say that increased confidence in a purchase, resulting from a product video, makes them less likely to return an item, up from 52% a year ago.
Retail site visitors who view video stay on a site an average of two minutes longer and are 64% more likely to make a purchase than other site visitors, according to ComScore 2012 figures.
Image courtesy of wmrice, flickr
2013 Growth Statistics
Figures from ComScore, 2013, suggest that 46 billion online videos were watched by 188.7 million people in the US in September of this year. On average, each person spent more than 20 hours watching online video.
Figures suggest that the average user is exposed to an average of 32.3 videos per month.
eMarketer statistics show that 93% of marketing professionals used video for online promotion in 2013.
51.9% of marketers worldwide gave video top marks as the type of content with the best ROI.
According to Rhythm and Insights, combining video with full page ads enhances engagement by 22%.
Video adverts make up 35% of total online advertising spending, figures from Break Media suggest.
Cisco estimates that by next year, outlay on video advertising will increase from $1.97 billion to $5.71 billion, and that by 2017, online video traffic will reach 69% of all global consumer internet traffic.
YouTube attracts 136 million unique viewers per month, according to NIELSEN.
An average of 72 hours of video per minute is uploaded to YouTube every minute, according to the social networking platform.
Image courtesy of jsawkins, flickr
Around half of marketers who use video in email campaigns see heightened click-through rates, an increase in time people spend reading the email, and an increment in sharing and forwarding, according to eMarketer statistics.
These 2013 statistics suggest that a quarter of marketers use video in email campaigns.
43% of marketers said that a deficiency in available video content was their reason for not using video in email campaigns, making it the main obstruction to further adoption of the practice.
Image courtesy of Jason Bagley, flickr
Benefits of Online Video Marketing
The potential benefits of animated marketing videos are endless. This can extend from increasing brand awareness to inspiring consumer action.
Videos are a great way to engage consumers, keep them on your webpage, and motivate them to make enquiries.
Multimedia content on your webpage is also an innovative way to add value and quality to your website, which ranks it high in searches.
With your video corresponding to brand strategy as a whole, it can help to create a cohesive channel of information, encouraging people to spend more time on the page. They are then more likely to return.
Engaging people in this way can build not just an audience for your video, but a loyal following for your brand or site.
Video might be used to advertise a product, explain complex concepts or promote the brand in a unique and imaginative way.
Image courtesy of mwrice, flickr
Whether embedded on your own webpage or on a social networking site, video content can also be invaluable in the creation of links.
Social networking platforms such as YouTube, Instagram, Vine, Facebook and Twitter can be used in your online video marketing campaign.
Remember though that the internet is inundated with video content, so useful, informative, creative and engaging content is crucial to maximise the chances of your video being watched, liked and shared.
Want to learn more on how video marketing can help grow your business?