Posted: 09 Apr 2020 Contributor: Therese Palmere
11 Video Marketing Statistics For 2020 That Marketers Must Be Watchful of
Video content has been on the rise for quite some time now. YouTube creators became celebrities, Instagram introduced videos to its platform, and live streaming is now available on all major social channels. Although the video content trend isn’t new, the internet has found new ways to create and enjoy videos. The rise of the video-based social media platform, TikTok, can attest to this.
Video content has proven time and time again to be both entertaining and beneficial to users and marketers alike. Videos garner more attention and engagement from users, videos, have a higher chance to go viral compared to other content types, and creating videos is an easy way to inform and educate consumers. But as we’ve seen above, the nature of video content is constantly being changed and enhanced. This is why businesses need to be aware of the rising video trends so they can bring relevant content to their consumers. In this blog post, we’ll go over everything you need to know about video marketing and the top 11 video marketing statistics for 2020.
Benefits of Video Marketing
Video marketing has grown exponentially over the years. There are over 1 billion 3 hundred million hours of video content uploaded to YouTube every minute and, on top of that, one of the most staggering online video consumption statistics is nearly 5 billion hours of video content watched daily. On Facebook, 100 million hours of video content are watched a day. On Instagram, 95 million photos and videos are uploaded a day.
On Pinterest, there were 6x as many video views on the platform in 2019 as there were in 2018. TikTok, whose main content type is video, has amassed over 500 million monthly active users in a short time. This social platform has more users than older sites like LinkedIn, Pinterest, and even Twitter. Video content is not going anywhere and is clearly a strong force for user engagement.
But What are the benefits of video marketing? We’ve compiled the top three benefits video marketing has to offer businesses:
- Engagement: Videos are known across all social channels to have increased levels of engagement. This means your brand experiences more likes, comments, shares, and an increase in brand awareness. On Instagram, videos generate more engagement than any other type of content on the platform. Video marketing is a great way to connect with your audience and build relationships with your customers.
- Credibility: Videos increase your brand’s credibility by building trust with your users. If your audience can see your product at work with their own eyes, or hear testimonials from previously satisfied customers, it will help them build confidence in your brand.
- ROI: As you will see below, in one of our key statistics to pay attention to in 2020, video marketing yields the best ROI of any other content type. Videos help brands communicate their image to customers and convince users of their product quality. This not only builds a brand’s credibility, it gives users the assurance they need to convert. If you’re looking for a high return on your investment, video marketing is the answer for you.
The benefits listed above should be enough to show you how powerful video marketing can be. But if you’re still wondering, “is online video marketing effective?”, please refer to the statistics below!
Top 11 Video Marketing Stats for 2020
The statistics below are divided into three sections: social platforms, a word from other marketers, and users. These statistics were compiled to help inform you of key details to pay attention to, that could inform your video content distribution strategy. Make data-driven decisions and consider these facts:
On Social Platforms:
1. LinkedIn users are 20x more likely to share a video than any other type of post on the platform.
2. YouTube and Facebook are the most widely used platforms for video marketing by businesses
3. 90% of shoppers have discovered a new brand or product through YouTube
A Word from Other Marketers:
4. According to a survey done by Wyzowl, 92% of marketers who use video say it’s an important part of their marketing strategy
5. 95% of video marketers are planning to increase their ad spend
6. 51% of marketing professionals worldwide named video as the type of content with the best ROI
7. 57% of marketers use live video
8. 87% of marketers stated videos increased website traffic
9. 72% of customers prefer learning about a product or service through a video
10. 66% of U.S. teenagers (users between the ages of 13 to 19) watch video content everyday
11. 84% of users were convinced about buying a product or service after watching a brand’s video
Building an Effective Video Marketing Strategy
With all these statistics on video, you may be questioning what is a video marketing strategy? And how do I start creating one? Video marketing strategies are created for the promotion of your company’s video content. They help promote your products and services to your target audience. When it comes to building an effective video marketing strategy, there are a couple of items you should consider. First, you need to set a budget. How much of your brand’s budget are you willing to allocate towards your video marketing efforts, if any at all. Considering how much you can set aside for your video production will help set the scope of your campaign.
Another item to consider, is what do you want from the campaign? Do you want to simply increase brand awareness and drive engagement? Are you looking for users to subscribe to your newsletter? Do you want customers to purchase your new product? Determining what your KPIs are will help measure the success rate of your campaign. Lastly, running A/B tests will help refine your campaigns and maximize your ROI. You will be able to definitively rule out which campaign elements performed better. These tests will allow you to have the best possible campaign for your brand.
Top 5 Video Marketing Examples
Creating a video marketing campaign from scratch can be difficult. When you’re unsure of where to start, sometimes the best place to find inspiration is from the leaders in your industry. Taking note of what other companies are doing will help you understand what strategies are currently trending, and give you an idea of what your team can create for your brand. These video marketing examples will help get your creative juices flowing:
1. Cheetos Can’t Touch This shows how you can remind users of key branding elements while introducing a new product. This ad introduced during the Superbowl was hilariously relatable for all users who have ever had Cheeto fingers. While cheesy fingers may not seem like it to most, this ad highlighted a key branding element through its video with its orange finger dust. The theme continued through to the end and revealed the Cheetos brand was releasing a new product, it’s popcorn.
2. Nike’s Dream Crazier Narrated by Serena Williams shows how you can use storytelling to propel your brand. When this ad campaign was released it took social media over by storm. This video amassed over 31.6 million total views on Twitter and 665k engagements. On Facebook, it received over 13.8 million views! The storytelling of this ad is what hooked users. Nike featured women athletes like Caster Semenya and Megan Rapinoe who achieved their dreams despite the adversity they faced. The ad reminded all of us, with real stories, that it seems crazy until you do it.
3. Apple’s Introducing iPhone 11 shows how you can focus on quality to market your products. After much anticipation, the iPhone 11 introduction was released to the world and amassed over 34 million views on YouTube. This high-quality video featured all of the strengths of this product and showed consumers why Apple is again the right choice. There were lots of new features Apple wanted to highlight in this release, including the iPhone's new dual camera, water-resistant coating, and highest video quality in any smartphone. The focus on quality in this video is what led to its popularity.
4. Calvin Klein #MyCalvins CK50 shows how you can use influencers to increase your brand awareness. for their 50th anniversary, Calvin Klein decided to select specific celebrities to participate in their celebration. They chose big names like Justin and Hailey Biber, Kendall Jenner, and Lil Nas X which helped amass over 3 million videos for the ad on YouTube. These celebrities were featured in a thematic video that heavily referenced 80s style. CK used these influencers to celebrate their anniversary and remind users of their relevance.
5. Amazon’s Before Alexa shows how you can bring in multiple different strategies and create one cohesive video. This genius video ad used comedy to juxtapose life before technology and its convenience. It cleverly highlighted the capabilities of the product and what life was like before owning a smart device. Amazon also used a widely popular influencer, Ellen DeGeneres to star in the ad. In just three short months, the ad has gained over 61 million views on YouTube and 14k likes.
These top 5 video ads are great examples of how you can connect with your audience while promoting your products and services.
Videos have become a huge portion of content production and consumption. That’s why video marketing is the future of digital. We hope the video marketing statistics for 2020 have helped inform you of key items to consider when strategizing for the coming year. If you need a slight refresher, here are the key takeaways one more time:
- Video content is entertaining, engaging, and easy to consume
- Video content has grown in consumption across all social media platforms
- It is also the content type that yields the most engagement
- The top three benefits of video marketing are user engagement, brand credibility and return on investment
- We’ve compiled some of the most informative stats on video marketing sectioned by social platforms, what other marketers are saying, and on user behavior
- Building an effective video marketing strategy means setting aside a budget, determining your KPIs, and running A/B tests
- Take inspiration from popular video marketing ads from your favorite brands like Cheetos and Nike