You want to get into video marketing.
Or maybe you already started it, but you’re still getting used to it and looking for fresh ideas to revamp your strategy.
Video marketing can help you reach millions of potential customers, increase your sales, and grow your brand awareness.
But it has to be done right.
And in order to do it right, you have to pay attention to what the number tells you. What’s the most suitable platform for your videos?
What sort of ROI can you expect?
What are the KPIs that can tell you whether your campaign was successful or not?
We’ve gathered all this information and more.
Here are the most important marketing video statistics every marketer should be aware of in 2023!
What is video marketing? 📊
Video marketing is the use of video content to promote and market a product, service, or brand. It involves creating videos that engage and inform the target audience, drive conversions, and increase brand awareness.
Video marketing can take many forms, including product demos, tutorials, customer testimonials, event coverage, and brand stories. The videos can be hosted on a company’s website, social media platforms, or other video-sharing sites such as YouTube or Vimeo.
The goal of video marketing is to leverage the power of video to connect with audiences on an emotional level, build trust, and communicate brand values in a way that is more engaging and memorable than other forms of marketing.
It can be a highly effective way to reach and engage with customers and has become an increasingly popular strategy for businesses of all sizes in recent years.
Why should marketers care about video marketing? 🤔
If you are looking to build brand awareness, increase engagement, and drive conversions, video marketing is the perfect solution.
Unlike text, videos have the power to deliver a lot of information in just a few seconds. Your customer gets to save precious time while still learning about the most important details about your product or service.
And unlike static images, videos can be a much more visually pleasing experience. Not only can you use more eye-catching visuals but you can also use sound to grab your audience’s attention.
Here are some more reasons why marketers should give video marketing a chance in 2023:
- Increased engagement: Video content is more engaging than other forms of content, such as text or images. Studies have shown that video content has higher engagement rates and viewers are more likely to remember what they saw in a video compared to what they read or heard.
- More reach: Video content has the potential to reach a wider audience than other forms of content. Videos can be shared on social media platforms, embedded in emails, and featured on websites and blogs, making them more visible and shareable.
- Improved conversions: Video content can be a powerful tool in driving conversions. A well-made video that effectively communicates a brand’s message can help increase customer trust and lead to more sales and conversions.
- Enhanced SEO: Videos can help improve a brand’s search engine optimization (SEO) by increasing the time spent on a website and the number of pages visited. This can improve a brand’s search engine rankings and increase visibility.
- Better storytelling: Video content allows brands to tell stories in a more engaging and memorable way. It can help convey a brand’s message, values, and personality in a way that resonates with viewers.
That said, it’s important to make sure your videos are high-quality and provide value to your audience in order to see the best results.
Here are a few steps that can help you make videos that both look and perform well:
- Define your purpose and audience: Start by defining your purpose for making the video and identifying your target audience. This will help you create content that is relevant and engaging for your viewers.
- Develop a script and storyboard: Once you know what your video is about and who it’s for, develop a script and storyboard to plan out the structure, visuals, and messaging of your video.
- Choose the right equipment: Depending on the type of video you’re creating, you may need different types of equipment, such as a camera, microphone, lighting, and editing software. Choose equipment that will help you achieve the look and feel you’re going for.
- Shoot and edit your video: With your script, storyboard, and equipment in place, it’s time to shoot your video. Make sure to capture footage that is visually appealing and tells your story effectively. Once you’ve captured your footage, edit it together to create a cohesive, engaging video.
- Optimize your video for distribution: Once your video is complete, optimize it for distribution on the channels where you plan to share it, such as social media, your website, or YouTube. Make sure to use keywords and tags to make it easier for people to find your video.
- Promote your video: Finally, promote your video to reach your target audience. Share it on social media, email it to your subscribers, or use paid advertising to get it in front of a wider audience.
How effective is video marketing? ⏯️
The number one reason for this is the growing demand for video content.
Just look at the video marketing stats from last year.
2. Streaming and downloading videos made up 82% of the total internet traffic in 2022. People were regularly watching clips and live streams on YouTube, movies and shows on Netflix, educational content and lectures, news, music videos, ads, and so much more.
3. TikTok was the most downloaded app worldwide in 2022, according to Statista, popularizing short-form video content so well that it seems like even bigger names such as Instagram and YouTube wanted to capitalize on it with Reels and Shorts.
4. Hootsuite found that YouTube had 1.7 billion unique monthly visitors in 2022, making it the second most visited website after Google. The number has since grown to 2 billion.
5. As much as 91% of consumers said that they wanted to see more video content from brands in 2023.
People are constantly seeking out videos either for entertainment, work, or educational purposes.
And this tendency to prefer video over text and images has bled into the way we see ads, as well.
6. We are more likely to click on video ads than static ads. According to Databox, video ads have seen as much as 47% more clicks than image ads on Facebook alone.
7. Sprout Social’s findings tell us that consumers find short-form videos to be almost thrice as more engaging than long-form ones, with 66% of them saying that they pay the most attention to short-form videos.
8. Hubspot found that 39% of marketers think short-form videos generate the biggest ROI and their average watch is between 61% and 80%.
9. They also concluded that 55% of marketers leverage both paid and organic traffic when publishing marketing videos on social media.
These remarkable stats on video marketing prove that video content has a grip on both audiences and marketers.
10. It’s no wonder why 96% of marketers say video is an important part of their overall marketing strategy.
If you’re a marketer who’s still on the fence about video marketing, you might want to make a decision soon. You don’t want your competition to get all the clicks, conversions, and leads while you’re still weighing the pros and cons.
Video marketing statistics in 2023 📈
We’ve established already that video marketing is a great idea for any business no matter its size.
But let’s break the numbers down a bit more.
We gathered the freshest statistics on video marketing and compiled them in a convenient list for you to consider when planning your 2023 marketing strategy.
The data comes from reliable sources in the marketing industry, including Wyzowl, Hubspot, Vidyard, Statista, Social Insider, and more.
The full reports are linked in their respective paragraphs.
Video marketing statistics on consumer behavior
Video content can undoubtedly talk us into or out of buying a product or a service.
11. Wyzowl’s statistics about video marketing show that “96% of people have watched an explainer video to learn more about a product or service”, a 2% increase since 2022 and 2021.
12. 89% of them have gone on to purchase a product or a service after watching a video about it, a 1% increase since 2022 and a 5% increase since 2021 and 2020.
13. 79% of respondents said that they were convinced to buy software or an app after watching a video.
Looking at Wyzowl’s findings we can see that video marketing has been influencing our shopping behavior since before the pandemic and it looks like it won’t stop anytime soon.
Videos are great replacements for window shopping, as they allow us to see every detail we want about a product without moving from our spots.
They also help us reduce impulse purchases. Having all the pros and cons of a desired product in a 3-minute video gives us the opportunity to be smarter about how we spend our money.
Video marketing statistics on audience retention
It’s clear that you can capture your target audience’s attention with video content but can you hold it?
14. Vidyard’s most recent data on audience retention shows that “the average retention rate for videos across the board is 52%.”
Their report goes on the explain that this is a super generalized number, as your audience retention rare highly depends on the length of your video:
15. “More than two-thirds (68%) of viewers watch a business-related video all the way to the end if it’s less than 60 seconds, but only 25% will finish a video if it’s more than
20 minutes long.”
One way for you to make sure your audience retention doesn’t drop dramatically is by keeping your videos short and sweet and by using a great hook.
Video marketing statistics on watch time
How much time do we spend watching videos?
16. A survey conducted by Statista shows that globally, consumers spent an average of 19 hours watching videos online every week in 2022—a clear increase compared to the weekly 18 hours in 2021 and 16 hours in 2020.
Let’s zoom in a little bit.
17. A different report published at the end of 2022, Statista tells us that in the United States alone, Gen Z spends an average of 13.1 hours every week watching online videos.
18. In contrast, people aged 35 and above only spend 8.5 hours watching online videos and offer more attention to traditional TV.
19. In another survey related to children and teens in the United Kingdom, we see that kids in the UK spent 64 minutes per day watching video content on YouTube’s mobile app and 46 minutes on Netflix’s app.
20. The winner of the said survey was the YouTube Kids app which managed to gather an average of 82 minutes per day.
If your target demographic is Gen Z or millennials or both, reaching out to them through video marketing is a safe bet.
Video marketing statistics on audience engagement
You don’t just want people to watch your videos—you want them to like them, comment on them, and share them on social media.
So what do the video marketing stats tell us about audience engagement?
21. Turning back to Wyzowl’s report, we see that more than 50% of respondents “are more likely to share video with their friends than any other type of content.”
22. When it comes to individual social media platforms, Earth Web found that videos on Instagram “have 2 times the engagement of other types of posts.”
23. Statista’s report on Facebook shows us that brand accounts boasting 5K to 10K followers have “an average engagement rate of 1.12 percent on live videos, and a 0.59 percent engagement rate on pre-recorded videos.” Accounts with over 10K followers see lesser engagement.
24. Of course, none of these platforms can beat TikTok, which has an overall engagement rate of 4.25%, according to Social Insider.
No matter which platform you choose for your business, you can definitely expect some engagement if you publish videos consistently.
And you don’t even have to worry about not having enough followers.
In fact, smaller brand accounts seem to have even better engagement than bigger ones.
Video marketing statistics on CTRs/CPMs/CPCs/conversions/leads
Views and social media engagement are important, but let’s be honest, the real goal is to make a profit.
What can the latest video marketing stats tell us about that?
25. According to Hubspot’s data, the average click-through-rate for short-form and long-form videos is between 5% and 8%.
When it comes to cost-per-milles and cost-per-clicks, it’s harder to calculate an overall average because they are very different on each social media platform.
26. *Based on data from Publer, the average CPM and CPC on the most popular social media platforms look like this:
|Average CPM||Average CPC|
|7.19 USD||0.97 USD|
*These numbers reflect the average CPM for social media ads overall, not just video ads. Image ads, carousel ads, dynamic ads, text ads, etc. were also taken into consideration.
27. Vidyard reports that almost “70% of sellers say that video converts better than any other form of content they use.”
28. They also added that “93% of study participants believe that video converts the same or better than other forms of content.”
29. Out of the marketers surveyed by Wyzowl 90% of them said that video marketing has generated leads for them, compared to the 86% in 2022.
Video marketing statistics on ROIs
Looking at the data from the previous section, what can we say about the ROI generated by video marketing? Is it a worthy investment?
According to Wyzowl’s 2023 statistics about video marketing, it absolutely is.
30. They found that most marketers use video views, audience engagement, clicks, leads, brand awareness, retention, and bottom-line sales, as metrics when calculating their ROIs.
31. Only 11% of marketers don’t track ROIs at all for their video content.
32. As such, “92% say video gives them a good return on their investment.” That’s an all-time high!
Video marketing statistics on brand awareness
Since we’re consuming so much video content and interacting with video ads a lot, you’d expect your brand awareness to see some sort of increase.
And you’d be right.
33. Wyzowl concluded in their 2023 report that 95% of video marketers think “video marketing has helped them increase brand awareness.”
No wonder the overwhelming majority say that.
Pause and take a moment to think about all the brands you successfully learned about just by seeing their videos online. I have a feeling it’s more than 5, isn’t it?
Of course, this can be a double-edged sword.
More eyes on your brand mean bigger pressure to perform well and not make mistakes that cause a dent in your sales.
As your business grows, make sure you invest in an experienced PR team, as well.
Video marketing statistics on mobile
Nothing is more convenient than streaming your favorite TV show, movie, or music video on your smartphone.
34. Vidyard says that “13% of business video views happened on mobile” in 2019. And this is only B2B video content.
This number has only grown since.
35. In 2020, YouTube amounted to 25% of the total global mobile traffic, according to Sandvine.
36. As of 2021, The Social Shepherd tells us that TikTok boasts 30.8 million daily active users via iOS alone.
37. Children and teens in the UK spent most of their 2022 online activity streaming on YouTube’s and Netflix’s mobile apps, as we’ve previously seen in Statista’s report.
It’s easy to see that if you want to really dive into video marketing for your business in 2023, you should make sure that your videos look great on mobile devices, too.
Video marketing statistics on video types
Alright, so you know that you need to publish more videos.
But you might not have the time and budget to do every single type of video.
Not to mention your target audience might only be interested in one or two types.
How do you choose which type of video you should go for?
38. Wyzowl’s 2023 video marketing stats show that social media videos and explainer videos are the most popular ones among marketers.
39. 50% of companies like to create presentation videos, while 46% opt for testimonial videos and video ads.
40. On the other side of the spectrum, employee onboarding videos are the least popular, with only 15% of marketers choosing to make them.
41. When it comes to the style of these videos, 66% of companies prefer live-action videos.
42. Over 55% like making screen-recorded and animated videos, too.
You can produce all these types of videos in-house or with the help of a video production agency.
Feel free to experiment with a couple of types and see how your audience responds to them.
Video marketing statistics on social media: TikTok, LinkedIn, and YouTube
You don’t need to be on every single social media platform to reach your target audience and convince them to engage with your brand.
But if you want to dive into video marketing, there are three platforms that are worth investing in: TikTok, LinkedIn, and YouTube.
43. TikTok is used by more than 60% of Gen Z and has become a goldmine for e-commerce businesses in particular.
44. LinkedIn is really popular in the B2B industry, as over 40% of B2B marketers thought LinkedIn was the most effective channel for driving high-quality leads.
45. YouTube boasts 2 billion active users every month, with more than 500 hours worth of videos being uploaded every minute.
Remember, it’s not necessary to get on all three platforms at once. It’s enough to take them one at a time and slowly but surely grow your business.
To sump up 🎀
Video marketing can take your business from yet another brand to THE brand that your audience looks for.
The trick is to follow the right information and make smart decisions.
What are your video marketing goals for this year?
Frequently asked questions about video marketing 🧐
What is the conversion rate of video marketing?
When it comes to video marketing, there is no ideal number that guarantees a successful conversion rate.
Your success depends on several factors, such as the type of video content, the platform used, the target audience, as well as the overall marketing strategy.
46. But if you’re looking for some guidance, Wyzowl found that 84% of people have been convinced to buy a product or service after watching a brand’s video.
47. Meanwhile, Hubspot says that adding a video to a landing page can increase conversions by up to 80%.
No matter where your average conversion rate is, video marketing can increase it. Just make sure to set realistic goals.
What video content is most in demand?
The type of video content that is in most demand can vary depending on the target audience, industry, and marketing goals.
That being said, the types of videos that generally get the most clicks are product demos, testimonials, tutorials, how-to videos, and explainer videos.
Ultimately, the most effective video content will depend on the target audience and marketing goals. It’s important to research and understand the preferences and interests of the target audience and tailor the video content accordingly.
If you need help creating any of these kinds of videos for your brand, feel free to contact Videodeck!
What is the best platform for video marketing?
The best platform for video marketing is the one where your target audience is.
If you are targeting exclusively Gen Z, TikTok would be your best option. If you want to talk to Millennials, try YouTube or even Instagram. But if you want to reach professionals in your industry, your best bet would be LinkedIn.
You don’t have to be active on every single platform in order to reach your audience and turn a profit. You just have to be smart with the ones you choose to be on.
How do I start video marketing?
Video marketing is an ongoing process, and it takes time and effort to see results. Before you film your first video, there are three things you must do: define your target audience, set your content strategy and goals, and invest in quality equipment.
After you filmed, edited, and uploaded your first video, remember to promote it, too. A good marketer knows that you can’t just publish a video and wait for the magic to happen.
Share the link on social media, put it in your email marketing campaigns, and encourage your team and audience to share the word. And after a couple of weeks, repurpose the content of your video in a blog post, LinkedIn status, or Instagram post.