Video for the masses became hugely popular in the ‘80s when MTV was a pop culture juggernaut used to sell music. The first video aired on MTV on August 1, 1981, was a prescient choice: “Video Killed the Radio Star” by The Buggles. And while the use of video by businesses has changed substantially over the past decades, it is clear video continues to captivate consumers. Video isn’t just mainstream; it’s a significant part of our everyday lives.
85% of U.S. internet users watched online video content monthly1 and, globally, the average person is estimated to watch 100 minutes of online video daily (more than 11 hours per week) in 2021; a 19% increase from 2019.2
Consumers are increasingly vocal about their desire to consume videos. 54% of consumers want more video content from the businesses they support.1 As a result, marketers have included video in their marketing mix like never before. In 2020, a whopping 92% of marketers said video was an important part of their marketing strategy, up from 78% in 2015. Live video is also on the rise, with 57% of marketers using live video; 34% via Facebook live streaming and 13% via Instagram.2
Video Builds Brands
Businesses have learned video can help them increase brand trust and engagement. As a visual medium, video allows companies to humanize their brands by sharing stories and content that resonates with consumers. Authentic storytelling builds trust; trust builds engagement.
Four of the most popular types of video are great for generating brand trust.3
Explainer Videos
These videos are typically less than two minutes and explain your brand or product in a simple, engaging way. Explainer videos should inform consumers what the product does and how the product can help them solve a problem.
Story Videos
Consumers want to know what businesses stand for and value. The best story videos for organizations authentically demonstrate how the brand inspires and how the people within the organization share the values of their consumers.
Product Demos
90% of consumers note product videos are helpful when they are making purchase decisions.3 People love to try before they buy, and video allows them to see what a product looks like and how it works. These videos can build trust by showing there is nothing to hide.
Testimonials
Everyone likes to know if a product is well received by others. There’s a reason Amazon and other online businesses put consumer reviews in dominant positions on their websites. Video testimonials take reviews to the next level.
Video Generates Leads and Sales
Marketers know a good thing when it works. Video marketing and social media are a match made in heaven for marketers as consumers use social media— Facebook, Instagram and YouTube are the top platforms—to find products and services.
- 71% of consumers purchased a product or service after watching a brand video on social media.4
- Marketers using video on social media reported 66% more qualified leads, and 93% stated they landed a new customer.1
- 88% of marketers report satisfaction with the return on investment (ROI) of their video marketing on social media.1
Even off social media, online video packs a powerful punch. Research by Google has shown 55% of consumers use online videos for shopping research to serve as a reminder of items to purchase or to build knowledge of products.5
The use of online videos to market businesses has grown in prevalence over the years with no end in sight. And the data shows video is a strong player in building brands and driving sales. Is your business using video in your marketing mix? If not, take another look at the statistics here and think strategically about how you can incorporate video to fuel business growth.