As American small businesses continue to press on against some formidable obstructions, it seems that they continue to thrive by staying what works. As search engine optimization and social media marketing continue to be the tried and true cornerstones of online marketing success, video has begun to make its mark. In some recently compiled date from Optinmonster, it begins to become clear why many small businesses have, of late, been all in on video. The following is taken directly from that data:
- In their 2020 report, Wyzowl found:
- 89% of video marketers say video gives them a good ROI.
- 83% of video marketers say video helps them with lead generation.
- 87% of video marketers say video has increased traffic to their website.
- 80% of video marketers say video has directly helped increase sales.
- 95% of video marketers plan to increase or maintain video spend in 2020.
Animoto‘s Social Video Forecast also suggests that 91% of marketers are satisfied with the ROI of video marketing on social media.
- Wyzowl says 85% of businesses use video as a marketing tool. According to Animoto, that number is even higher with 96% of marketers having placed ad spend on video.
- The Content Marketing Institute’s findings are similar. Both its B2B and B2C research for 2020 show that:
- 71% of B2B marketers use video marketing.
- 66% of B2C marketers use video marketing.
Impact reports similar findings. Research conducted by BreadNBeyond shows that 81% of businesses use video in their marketing strategy.
- Wyzowl’s research shows that people watch an average of 16 hours of online video per week. And, 84% of people say they’ve been convinced to buy a product or service by watching a brand’s video.
- More than 55% of shoppers use online video while actually shopping in a store, says Google. Wyzowl says that 66% of consumers prefer watching a video to reading about a product. And Hubspot says that 54% of consumers want to see more video content this year.
- Vidyard’s research shows that the average retention rate for videos across the board is 52%, but the amount of time people will spend watching your videos depends on how long they are. About 68% of people will watch a business video all the way through if it’s under 1 minute. Over 20 minutes? You’re going to reach only 25% of people.
- If you’re running video ads, a word of caution. According to research by Verizon and Publicis, 92% of consumers view videos with the sound off. The solution? Use captions. This same report found that 50% of consumers rely on captions because they keep the sound off.
- One staggering statistic comes from Cisco: By 2021, there will be almost a million minutes of video per second crossing the internet. Cisco adds that, by then, 82% of all consumer web traffic will be video.
-Written by Kevin Sawyer