Wistia Releases 2021 State of Video Report, Offering a Look on the Trends Shaping the Video Marketing Industry
Wistia, a pacesetter in the video and podcasting area, in the present day launched its video advertising report which discovered that 12.2 billion minutes price of movies have been watched in 2020, equating to 23,211 years price of content material. The 2021 State of Video Report was created via the evaluation of consumer information from the Wistia platform, together with greater than 44 million movies that have been uploaded between 2016 and 2020 throughout greater than 500,000 accounts. The report revealed how the pandemic dramatically elevated video consumption, engagement, and creation, and shines a lightweight on the tendencies shaping the video advertising business, providing small enterprise entrepreneurs actionable insights to drive consumer curiosity and engagement.
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“During COVID-19, entrepreneurs have turn out to be extra artistic than ever in their pursuit of reaching new shoppers, and offering their clients with content material of worth,” mentioned Wistia’s Vice President of Marketing, Chris Meador. “With shoppers watching extra video content material than ever earlier than – a development that was accelerated throughout the pandemic – it’s turn out to be a necessary device for companies. As we glance to the long run, we anticipate dwell video, digital occasions and branded content material to turn out to be a default for entrepreneurs.”
Consumers are watching extra movies than ever earlier than
With shoppers spending extra time at house throughout the pandemic, there was a gentle improve in content material consumption. Since 2016, the time spent watching movies elevated 249% from 3.5 billion minutes to 12.2 billion minutes in 2020. In 2020, there was an 85% improve in minutes watched, year-over-year. The variety of minutes of video watched per thirty days in 2020 was highest in April and May averaging 1.2 billion and 1.4 billion, throughout the first surge of the pandemic, however declined in the summer season months. As the nation noticed one other pandemic surge in the autumn, minutes of video watched spiked once more as much as 1.3 billion.
Marketers look to construct model loyalty via video size
With video consumption on the rise, manufacturers appeared for added methods to have interaction with shoppers and finally turned to longer-form video content material. Impactful and story-driven long-form movies have seen super development as manufacturers sought to construct extra of a connection and dependable viewers. In normal, engagement is highest for the primary couple of minutes of video (usually above 50% for the primary three minutes) and drops steadily after that mark, so viewers that proceed to look at are extra engaged and are sturdy candidates for extra content material from the model. However, the variety of movies in the 30-60 minute class in 2020 grew 140% year-over-year and 446% since 2016, highlighting the elevated funding in long-form content material as extra firms embrace video collection.
Marketers flip to interactive parts to extend conversion charges
In an effort to extend engagement and lead technology, entrepreneurs appeared for extra methods to include interactive parts into their content material, comparable to a name to motion or annotation hyperlink.
The variety of movies utilizing conversion occasions since 2019 elevated by 30% and there was additionally a 24% raise in the amount of movies utilizing conversion occasions over the previous 5 years. This discovering correlates with the rise in video content material consumption general, suggesting that viewers are prepared to provide their e mail addresses to companies when partaking with their video content material.
Marketers additionally discovered that interactive parts positioned on the finish of movies have been simpler over the 5 12 months interval, with a 9% common conversion. As it seems, conversion charges are additionally trending positively over this era, with the common conversion charge rising from 9% to 13% in 2020.
As companies search new, significant, and inventive methods to have interaction with their clients, they’re persevering with to show in direction of video to assist in their dynamic content material creation. With shoppers extra open to watching manufacturers’ movies than ever earlier than, entrepreneurs are utilizing longer movies, interactive parts, conversion occasions, and even digital dwell occasions to attach with and finally interact new clients.
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