Marketing can be a depressingly trend-led industry at times but there is one particular drum whose beat is increasingly hard to ignore – video content.
Two factors in particular have combined to finally make video an omnipresent medium after years of threatening to finally break through online: global adoption of broadband and the inexorable rise of mobile devices.
The technology has been there for a while but what’s truly arresting from a marketing or business owner perspective are some of the numbers surrounding actual users in the wild. Let’s start with YouTube.
We’ve all fallen into a YouTube hole at some stage and found the hours melting away when we should really be doing something else. It’s not simply a distraction engine however. YouTube has emerged as the second largest search engine in the world in recent years.
People aren’t simply mindlessly browsing video content. There is serious user intent to be captured here.
The Numbers Add up
According to YouTube’s statistics page, the number of hours people are watching on YouTube each month is up 50% year over year and fully half of YouTube views are on mobile devices. The message is clear, video usage is skyrocketing and mobile is the engine fuelling growth.
What about engagement though? This is where things get seriously interesting. A recent Usurv survey in the UK found that consumers are substantially more likely to share, comment or like video content than they are text-based content.
In terms of basic online advertising metrics such as Click Through Rates (CTR), users are a frankly astonishing 27.4 times more likely to click through on video ads than on standard banners.
Still not convinced? A recent article from Digital Marketing Magazine in the UK pulled together the following compelling numbers:
- 80% of online visitors will watch a video in its entirety compared to the 20% of people who’ll complete an online article.
- Websites with video content are 50% more likely to appear on page one of search engine results.
- A staggering 90% of users say that seeing a product video is helpful in deciding whether to purchase.
Looking for numbers closer to home? Real estate listings in Australia which include video have been reported as receiving 403% more enquiries than those without since back in 2012.
As a marketer or business owner, these are the sort of numbers you simply cannot afford to ignore. If you’re looking for more eye-opening figures to mull over, Video Brewery have put together an excellent list of video marketing statistics over on their blog.
The Video Marketing Stampede is Beginning
Savvy marketers worldwide have of course not been slow to react to some of the figures quoted above. 68% of agencies are planning on increasing their digital video spend in the next year and two-thirds of industry players surveyed said they believed digital video will be as important as traditional TV within the next five years.
Many of you may be wondering – isn’t this all just cat videos and cover versions though? Quite the contrary: 82% of B2B marketers polled by Vidyard.com reported success with video marketing initiatives.
You Already Own the Means of Production
The good news for small to medium sized businesses in particular is that if anybody in your company owns a smart phone, you already own the means of production when it comes to video content.
The days of having to employ teams of experts to produce even a five second spot are over. The average mobile device is more than capable of capturing high-definition video and there is a slew of online services available for whipping that content into shape in terms of marketing material.
New real-time tools such as Periscope are also set to revolutionise possibilities for connecting live with an audience in real time.
Content is Still King
The numbers are enticing, the tools are available but the question of content remains critical. Just as with social media, your return on investment with video will be governed by how well you plan and execute your content strategy.
At MediaSmiths, we have over two decades’ of experience in delivering effective media strategies that drive bottom-line results.
If you’re looking for expert assistance with catching the video marketing wave, our team are standing by to help you. Get in touch today and we’ll be happy to help you implement a successful strategy.
