It’s effectively established that video has been one of many breakout developments in the advertising and marketing world for the previous decade.
But what’s occurring in video advertising and marketing proper now? And how does its progress and success arise to the twists and turns of a worldwide pandemic?
At Wyzowl, we have launched an annual State of Video Marketing survey yearly since 2015, charting utilization, spend, channels, and opinions amongst video entrepreneurs and customers.
We just lately launched our ninth State of Video Marketing report. During that point, utilization, spend, and reported ROI have crept slowly upward – from an already excessive place to begin.
But this yr’s outcomes counsel that, removed from reaching saturation level, video advertising and marketing is definitely persevering with to develop in recognition – and attaining higher outcomes for entrepreneurs than ever.
Our analysis suggests:
Video stays a key precedence for enterprise with its use as a advertising and marketing device, and its perceived significance by entrepreneurs, reaching an all-time excessive.
Marketers really feel extra optimistic about video’s return on funding than at any level since 2015, as they report an unprecedented stage of affect on KPIs akin to visitors, leads, gross sales, and viewers understanding.
More entrepreneurs credited video with growing dwell time, visitors, leads, gross sales, and lowered help queries than in ANY of our annual surveys since 2015, – whereas an all-time excessive variety of entrepreneurs (92%) instructed us they get ROI on video content material, up from 87% in 2022.
Driving all of that is the truth that customers proceed to use video as an integral a part of their journey with manufacturers. They anticipate to see video content material from manufacturers – and use it as a key a part of their analysis and buying choices.
About the Survey
Wyzowl’s State of Video Marketing Survey is an annual report, now in its ninth iteration. Every yr, we ask a variety of questions — a lot of them the identical from yr to yr — to consider how the video advertising and marketing panorama is altering and rising.
This time round, our survey was taken by a pattern of 528 distinctive respondents consisting {of professional} entrepreneurs and customers, solely round 8% of whom had been Wyzowl prospects.
You can try the complete report — with lots extra information factors — and get a downloadable model by visiting Wyzowl’s State of Video Marketing 2023 web page.
Key Findings
91% of companies use video as a advertising and marketing device – an all-time excessive since we began monitoring this information and a major soar from earlier years.
The utilization of video isn’t the one information level that’s greater in 2023 than ever.
96% — extra entrepreneurs than at any level in the previous 9 years — instructed us they see video as an ‘essential half’ of their advertising and marketing technique.
And maybe most strikingly, 92% of video entrepreneurs reported that video provides them a optimistic ROI – you guessed it, one other all-time excessive.
This may effectively be attributed to an ever-increasing understanding of how to use video, in addition to how to observe and quantify its impression.
Digging into the specifics of what entrepreneurs have achieved utilizing video, extra entrepreneurs than ever earlier than instructed us they’ve generated leads utilizing video.
87% of entrepreneurs really feel that video has a direct, optimistic impression on gross sales – one other all-time excessive.
And 96% of entrepreneurs agree that movies have helped enhance person understanding of their services or products.
This determine has by no means dropped under 93% since 2015, however this yr’s information represents the very best determine in 5 years.
In phrases of the metrics that entrepreneurs really feel actually matter to them when figuring out video advertising and marketing success, the variety of video views stays the preferred at 63%.
This is adopted by:
Audience engagement (61%)
Leads/click on throughs (56%)
Brand consciousness (43%)
Customer retention (42%)
Bottom line gross sales (26%)
More than one in 10 entrepreneurs nonetheless say they don’t observe video ROI in any respect.
Looking Ahead
All the indicators counsel that utilization and spend are on target to proceed their progress in 2022.
For a begin, 70% of the entrepreneurs who do not presently use video as a advertising and marketing device, instructed us they plan to begin in 2023.
Add that to the 99% of present video entrepreneurs who instructed us they’re going to proceed utilizing video in 2023, and the 96% who instructed us they plan to both preserve or enhance their video advertising and marketing price range, you will see that there’s potential for these figures to proceed growing after we revisit this survey in a yr.
The internet results of that is, in fact, that we are able to all anticipate to see extra noise and competitors for viewers consideration in the approaching 12 months.
But whereas oversaturation is a problem, it is not an insurmountable one. It merely raises the bar in phrases of content material high quality. Your movies will want to be well-planned, and really well-executed.
The Big Opportunities for Video Marketing in 2022
The excellent news is that regardless of the noise and competitors – massive alternatives stay.
It’s notable that audiences proceed to watch extra movies. Our information suggests the quantity of on-line video watched per week, per individual, has nearly doubled since 2018 – though it did see a fall this yr.
And what about the place they watch it? Unsurprisingly, YouTube is probably the most widely-used platform — utilized by 90% of video entrepreneurs.
But a number of the lesser-used video techniques additionally appear to reap actual outcomes for video entrepreneurs.
This yr we requested folks to inform us the needs of the movies they’d created – what particular objectives had been they trying to obtain, and the way had been they planning to use them?
The most generally created kinds of movies had been these to be used on social media.
Explainer movies have seen large success. As effectively as being the second commonest ‘aim’ of a advertising and marketing video, an awesome majority of individuals (96%) report watching explainer movies to be taught extra a few product, with 89% being swayed to make a purchase order.
The product doesn’t have to be bodily, both. 79% of individuals say they’ve been satisfied to buy an app or piece of software program due to a video.
This implies that, on prime of all the pieces else, video’s skill to inform buy choices can also be at an all-time excessive.
To Sum Up
The rise of video as a advertising and marketing device appears inexorable.
More than 9 out of 10 folks report wanting to see extra movies from manufacturers in 2023 – one other information level that’s greater than ever – making video a superb device for lead era and model consciousness.
Video has shortly turn out to be a non-negotiable factor for audiences trying to discover and make purchases.
Video seems to be set to proceed its ten-year in a single day success story into the approaching decade.
These stats paint an image of a media sort that is nearly universally well-liked amongst each entrepreneurs and their audiences, serving to obtain a lot of extremely essential objectives.
Editor’s be aware: This submit was initially printed in January 2018 and has been up to date to replicate the most recent information.
https://weblog.hubspot.com/advertising and marketing/state-of-video-marketing-new-data
