- On September 16, 2014
- Content Marketing, Marketing, Media Production, Social Media, Storytelling, Video, Video Production, Videography
Over the past five years, the popularity of online video has exploded. With rapid improvements to mobile and portable devices and internet speeds accelerating, in the U.S. and in Canada, rates of online viewership will only continue to rise. 2014 data from Statista statistics portal report U.S. users between the ages of 35 and 49 are already watching approximately 736 minutes of online video per month, while those in the 25-34 category watch nearly 900 minutes of online video per month.
50% of Senior Marketers Claim Video Content Produces Best ROI
Of course, marketers have been shifting away from television and radio for a long time, but the growing online audience is not the only reason marketers are adopting video marketing as a vital component of their strategy.
Marketers are relying more on videos because they really work.
Research by Animoto found that 73% of adults were more likely to purchase a product or service after watching an explainer video, and 96% of those surveyed reported finding online videos helpful in making purchasing decisions. In Fact, Forbes reports that in 2014, 51% of CEOs under the age of 40 made a business-related purchase after viewing a video. Not surprising, Emarketer cites that 70% of B2B marketers in the U.S. are already using video content, and 80% of marketers are using videos on their websites, emboldened by the fact that 50% of senior marketers claim video content offers the best ROI.
Furthermore, Cisco’s research has found that 79% of internet traffic will be video content by 2018 and Visually’s research has found that the average internet user only retains 20% from reading text without visuals.
Use of Video Content Improves Trust And Raises Your Brand’s Profile
Last year, KISS Metrics shared a study performed by an online retailer, Eyeview, which claimed their video ads resulted in a 100% uptick in favourable views of their brand, along with a 73% increase in the chance of recommending it, and a 37% increase in the likelihood the customer would visit their store again in the future. With these kinds of results becoming commonplace, it’s no surprise everyone is beginning to produce marketing videos, and they’re using them in all kinds of ways. Last year, 65% of firms used marketing videos to engage potential customers on YouTube, 61.7% leveraged video for social media marketing and networking, 60.3% for email marketing or video newsletters and about 50% as explainer videos or videos aimed at lead generation/ lead nurturing.
Technology Companies Can’t Afford To Ignore The Power of Marketing Videos
Unfortunately, 50% of the same respondents also reported challenges in creating effective video content. Without in-house expertise, it is difficult for marketing executives to include online videos as a part of their content marketing strategies, but with such huge ROI potential on the line, technology companies can’t ignore the opportunity.