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Online Video Marketing Statistics & Trends in 2018
Online Video Marketing Statistics & Trends in 2018

Importance of Video Marketing in 2018

I know that ever business owner should be using video marketing to promote their products and/or services. Any business owner that has met me will have no doubt heard me go on….and on…..and on… about how powerful and important using video is to promote and market their business. I apologise for boring you!

But don’t just take my word for it!

Wyzowl produces an annual “State of Video Marketing Survey” that produces a detailed picture of the video marketing landscape. The “2018 State of Video Marketing Survey” shows that video is not only thriving, but growing at a huge rate, for both consumers and businesses. It also reveals new and emerging technologies, which trends to pick up on, which are effective and which are not.

EVERY business owner, however large or small your company or organisation is, should read the following stats. It will blow your mind!

Here are just a few of the highlights:

Key Video Marketing Statistics for 2018:

  • The use of video marketing is rising rapidly among brands, busiensses and marketers.
  • YouTube is the most widely-adopted video channel for marketers – and also regarded, by them, as the most successful
  • The average consumer watches more than an 1 1/2 hours of online video content per day, 15% of whom averaging more than 3 hours.
  • 2018 LinkedIn are set to break into video. 38% of marketers share video content on LinkedIn – this is set to rise to 55% in 2018.
  • The adoption of interactive video will rie from 1 in 5 marketers currently, to almost 1 in 3.
  • Just 11% of brands used Snapchat in 2017, and this is set to fall even further to 9% in 2018.

Video Marketing Statistics : Usage, Spend & ROI in 2018

  • 81% of businesses use video as a marketing tool (up from 63% in 2017)
  • 65% of businesses who don’t currently use video say they intend to start using it in 2018 (up from 34% in 2017)
  • 99% of businesses who currently do use video, say they will continue to do so (the same percentage as in 2017)
  • 85% of businesses regard video as an important part of their marketing strategy (up from 82% in 2017)
  • 82% of businesses plan to spend more on video marketing in 2018 (the same percentage as in 2017)
  • 78% of marketers say video gives them a good ROI (down from 83% in 2017)

Analysis:

During the last 12 months, video has increased its usage by 17% and this looks like it will continue to do so during 2018. Approximately 2 out of 3 businesses that are at present not using video, intend to adopt it in 2018. With those already using it, they plan to continue to use video to market their business. Not only do these businesses plan to continue, but plan to increase their marketing budget on video in the next 12 months.

Video Effectiveness in 2018

  • 97% of marketers say video has helped increase user understanding of their product or service.
  • 76% say it helped them increase sales.
  • 47% of marketers say it helped them reduce support queries.
  • 76% say it helped them increase traffic.
  • 80% of marketers say video has increased the amount of time a viewer spends on their web site.
  • 95% of people have watched an explainer video to learn more about a product or service.
  • 81% of people have been convinced to buy a product or service by watching a brand’s video.
  • 69% of people have been convinced to buy a piece of software or application by watching a video.

Having watched a branded video that they enjoyed:

  • 83% of consumers would consider sharing it with their friends.
  • 85% of people say they would like to see more video from brands in 2018.
  • Where both video and text are available on the same page, 72% of people would prefer to watch video to learn about a product or service than read.

Analysis:

The most common benefit seen when a business uses video, is that of users getting a better understanding of what that particular business does. Whether that being selling products or offering a service. It also brings the benefit of people staying longer on that businesses’ website, reducing bounce rates.

Video, provided it is high quality content, is highly considered by consumers as part of their buying journey. Many consumers use video as their “research” phase of the buying process. For example, they will search for “product + review“, “service + review” or even “business + review.” On many occasions, these videos have acted as a “tipping point” for many consumers, and helped them decide to purchase a product or even, not to buy.

Emerging Trends With Marketers Using Video in 2018

Youtube Video:

  • 87% of marketers have published video content on YouTube.
  • 90% of those found it to be an effective strategy.
  • 87% of marketers plan to use YouTube video in 2018.

Facebook Video

  • 68% of marketers have published video content on Facebook.
  • 87% of those found it to be an effective strategy.
  • 70% of marketers plan to use Facebook Video in 2018.

Webinar

  • 44% of marketers have hosted or participated in a webinar.
  • 87% of those found it to be an effective strategy.
  • 49% say they plan to host or participate in a webinar in 2018.

Instagram Video

  • 41% of marketers have used Instagram video.
  • 78% of those found it to be an effective strategy.
  • 44% say they plan to use Instagram video in 2018

Twitter Video

  • 39% of marketers have published video content on Twitter.
  • 70% of those found it to be an effective strategy.
  • 40% plan to use Twitter video in 2018.

Linkedin Video

  • 38% of marketers have published video content on LinkedIn.
  • 75% of those found it to be an effective strategy.
  • 55% plan to use LinkedIn video in 2018.

Facebook Live

  • 34% of marketers have used Facebook Live.
  • 81% of those found it to be an effective strategy.
  • 37% plan to use Facebook Live in 2018.

Interactive Video

  • 20% of marketers have used interactive video.
  • 78% of those found it to be an effective strategy.
  • 28% plan to use interactive video n 2018.

360 Video

  • 15% of marketers have used 360 video.
  • 62% of those found it to be an effective strategy.
  • 16% of marketers plan to use 360 video in 2018.

Virtual Reality

  • 14% of marketers have used virtual reality video.
  • 67% of those found it to be an effective strategy.
  • 14% of marketers plan to use VR in 2018.

Snapchat

  • 11% of marketers have used Snapchat video.
  • 27% of those found it to be an effective strategy.
  • Just 9% plan to use it in 2018

Conclusion : Should Your Business Be Using Video Marketing?

Actually, the question really ought to be, “why shouldn’t your business be using video marketing?

The above data is overwhelming in terms of how popular video content is for consumers. When businesses use video to create high quality, valuable content, the consumer/audience laps it up! Consumers want more video and much prefer to watch than read. However, and this is a biggy, the video content has to be of a high standard. Not only in production value, but content. They will not put up with poorly produced videos or content that is not providing value.