19 September, 2020

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Latest Video Marketing Statistics For 2020

The world is gradually moving towards the video industry. Thanks to the emergence of social media channels, video content marketing is at an all-time high. Video is quickly emerging as one of the topmost modes of communication both in terms of importance and popularity.

It has been proven time, and again that video has been known to improve ROI substantially. There are more and more people who consume online videos on an everyday basis. But still, several top marketers are not using video marketing as one of their primary modes of marketing. 

As per the research conducted by Wyzowl, 92% of the marketers prefer to watch any information in the form of video than any other mode. This number has drastically increased from 78% in 2015. 

Many marketers in the same research study who are using video marketing have said that at least 88% of video marketing tools have been proven to improve ROI in the long run. Presently, consumers are extremely favorable to video marketing. 

You will be surprised to know some of the amazing and powerful video marketing statistics for 2020 – 

  • 100 Online Video Minutes by 2021 – As per the video marketing stats, it is estimated that people might spend 100 online video minutes by 2021. This number has increased substantially from previous years. In 2019, this figure was 84 minutes, and thus within a time frame of just two years, the number has increased by 19%.
  • 99% of Marketers will use video in 2020 – Since the video marketing industry has tremendous potential, thus it is expected that 99% of the marketers will use online video marketing as one of the powerful marketing tools. It is expected that with video marketing, the ROI will improve substantially. This also means that video must be a part of your digital marketing strategy, but marketers must be aware of the fact that there is tremendous competition in the market for the same.
  • 48% of Consumers want Video – It is estimated that at least 48% of consumers want the video to be a part of their consumer’s decision-making process. This is because consumers strongly believe that with the video, they get clarity of the product, and thus they can make a rational decision of whether to buy the product or not. This is a huge breakthrough for marketers in video marketing.
  • Longer Ads are Preferred – Well, we all know that the audience’s attention span is getting shorter and shorter. But when it comes to video marketing, then it seems a completely different story. By the end of 2019, 66% of video advertisements were 30 seconds long. Many predicted that it might go shorter with time. But statistics narrate a different story. In the first quarter of 2020, it is seen that longer ads have received a thumbs up from the audience, and thus they are being considered as much more effective. In the same period, Wyzowl study shows that 1% of video ads were 6 seconds long while the other 1% was 60 seconds long. Whereas the most popular ad length was 15% which comprised 32% of ads.
  • Video Marketing is widespread – Video marketing is combining more and more stakeholders in the game. It has emerged as one of the most powerful Business to consumer tools. 41% of business to business marketers are exploring ways so that videos can be combined into their integral form of marketing. Marketers want to demonstrate the product and explain it’s major USP into the video.
  • 66% of teens watch videos every day – Teenage is one of the most important ages for gadgets and beauty and wellness products. And these teens spend their time watching online videos and thus making consumer decisions. In 2015, these numbers were only 56%, and thus this is a huge leap in favour of video marketing.
  • 72% of marketing videos are explainer videos – 72% of the marketing videos are the explainer videos. Consumers love to watch the demonstration and listen in detail about the product they have recently bought or are planning to buy. Other than this, there are 49% presentation videos, 48% testimonial videos, 42% sales videos, and 42% video ads.
  • 20% of new marketers used video marketing for the first time in 2020 – The popularity of video marketing has reached every nook and corner. And thus, several people are still playing with the idea of inclusion of video marketing into their mainstream marketing medium. 20% of new marketers used video marketing for the very first time in 2020.
  • Video Marketing has increased ROI – 87% of marketers who are using video marketing believe that it has led to an increase of traffic towards their websites and also added curiosity towards the brand in general. Whereas 81% of marketers believe that thanks to video marketing people are seen spending more and more time on the website. But there is a downside to video marketing as well. Many have also commented that because of video marketing, the number of support calls has reduced by 43%, which means that the human interface is missing.
  • Non-Video Marketers – We must also have a look at the non-video marketers. There are 20% of non-video marketers who believe that video marketing is too expensive, and thus they don’t want to use it. Whereas 17% have said that they don’t have a clue about how to use video marketing for their business. They are still figuring out about the video editing software. And thus, video marketing for them is still a starting step. 

Conclusion

Well, we all feel that video marketing is here to stay. The primary reason is the kind of clarity and satisfaction it gives to consumers. The end party is extremely satisfied with the videos, and thus marketers have to shift their attention towards the same. 

And if the ROI, in the long run, is compared, then video marketing might emerge as one of the most affordable tools for marketing. In the future, we hope to see more and more of video marketing in different spheres of the economy along with easy-to-use online video editing software. 

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