Five 2020 Video Marketing Statistics – And What They Mean for Your Business
by Yello Feb 3, 2020
It’s no longer a secret. Videos work, and they work very well. And more and more businesses and brands are accepting this fact, as research suggests that ad spends on video marketing is likely to continue its steady increase in 2020.
Marketers are also feeling more positive about the ROI they receive from video, as data shows that the format helps to drive traffic, leads, and sales. Here are five more 2020 statistics about video marketing and what it means for your business.
- 85% of Businesses Use Video – Yes, video is popular and so is video marketing, which means competition for the audience’s attention is fierce. This should not, however, deter you from investing in video marketing. It just means your business must be a bit more creative in your video marketing approach, to have a better chance of standing out amongst the pack. For example, try diversifying what types of video you use as the options are numerous – i.e. vlogs, tutorials, explainer videos, video testimonials, product demos, etc.
- YouTube and Facebook Still Lead but Smaller Platforms Reaping Big Rewards – Piggybacking off the previous point, as competition for consumer attention gets fiercer, it’s worth exploring smaller platforms that may not have the big active followers of a Facebook but are still effective in their own way. For example, research shows that LinkedIn has, in recent years, emerged as a strong player in the world of video marketing. So consider diversifying the channels employed for your video marketing strategy, which will likely result in a higher conversion rate.
- Users are 1.5 Times More Likely to Watch Videos Using Their Mobile Devices – Just as the secret has long been out about the power of video, so too regarding the power of mobile. The world is seemingly attached to their whole lives via mobile devices. Therefore, businesses must intertwine mobile into their video marketing strategy. In other words, whatever videos you produce must be mobile-friendly – i.e. quick loading time, length, design, etc. Because the reality is, most of your customers will likely be viewing whatever videos you produce on their mobile devices.
- Emails are Opened 7% More with Video in the Subject Line – Email marketing, contrary to what some marketers believe, is still a very effective digital marketing strategy. And like with mobile, businesses must consider combining email into their video marketing strategy, as it is likely to increase their open rate and by that token, conversion rate.
- By 2022, 82% of Global Internet Traffic Will Come From Video – What does this mean for your business? That you cannot afford to NOT invest in video marketing. The key to any successful marketing strategy is to be where your audience is. And if your audience, along with the rest of the world, is moving towards video consumption, it would be marketing suicide to not place heavy emphasis on a video marketing strategy.
These are just a few of the many reasons it’s time for your business to invest in video. Need help getting your video marketing strategy just right – Yello can help. Contact us today.