IT’S NO LONGER ABOUT THE STUFF YOU MAKE, BUT THE STORIES YOU’RE TELLING
So, we talk a lot about video production and storytelling in a commercial environment. But why does any of it matter?
Marketers often cite video as their most valuable tool to drive performance in key areas of business and it’s more important than ever not to underestimate the potential power of video in any marketing strategy. As we travel further into 2018, it’s clear to see looking at some simple statistics that video content really does matter. Engaging story led content what we are all about and for good reason; when it comes to marketing it’s no longer about the stuff you make, but rather the stories you’re telling.
I would like to make reference to a survey conducted by UK video analytics experts Wyzowl with 570 unique respondents in December 2017. The respondents consisted of both marketing professionals and online consumers. Respondents were categorized as marketers or consumers according to their answer to a preliminary question, to ensure they were only prompted to answer relevant questions. Take a look at some key stats;
- 81% of businesses use video as a marketing tool. (up from 63% in 2017).
- 99% of businesses who use video say they will continue to do so in 2018.
- 78% of marketers say video gives them a good ROI.
- 97% of marketers say video has helped increase user understanding of their product or service.
- 76% say it helped them increase sales.
- 47% say it helped them reduce support queries.
- 76% say it helped them increase traffic.
- 80% of marketers say video has increased dwell time on their website.
- The average person watches more than an hour and a half of online video content per day, with around 15% averaging more than three hours.
- 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.
- 85% of people say they’d like to see more video from brands in 2018.
- 72% of people would rather use video to learn about a product or service over text.
- 83% of consumers would consider sharing branded video content with their friends if it was engaging or entertaining.
If that isn’t enough, according to Cisco’s Visual Networking Index global consumer internet video traffic will account for 80% of all consumer internet traffic by 2019 (Cisco, 2017). Now that is hugely significant! Don’t miss the opportunities video marketing can provide. If you want to know more please get in touch, we would love to chat over a coffee.
Wyzowl. (2018). Video Marketing Statistics 2018 Survey: The State of Video Marketing 2018. Retrieved from https://www.wyzowl.com/video-marketing-statistics-2018/
Cisco. (2017). Cisco Visual Networking Index: Forecast and Methodology. Retrieved from https://www.cisco.com/c/en/us/solutions/collateral/service-provider/visual-networking-index-vni/complete-white-paper-c11-481360.html#_Toc484813971