Video marketing allows companies to make a unique connection with their audience or potential customers. The way video content engages audiences, creates a connection, entertains, and inspires, is unique compared to any other format. Video has grown in usage over the years, but there is something about 2016 that we feel video will dominate.
The Stats Tell Us So
There is a rise in video statistics that include video usage, which reinforces the belief that marketers will utilize more video in 2016 than in any other previous years.
- According to Business Insider: Online video ad revenue will reach nearly $5 billion in 2016, up from $2.8 billion in 2013, while TV ad revenue will decline by nearly 3% per year during the same time period.
- Google Sites, driven primarily by video viewing at YouTube.com, ranked as the top online video content property in November 2015 with 174.5 million unique viewers according to comScore.
Video usage and views is on the rise and the growth rate year over year continues to rise at exponential rates.
Consumption is Growing with the Availability of Content
Not only are people able to quickly and easily access data on their desktops, they’re also able to access video content on mobile devices. According to emarketer, US adults watched one hour and 16 minutes of digital video each day in 2015—up from just 21 minutes a day in 2011.
Every month, more than 1 billion people worldwide watch more than 6 billion hours of YouTube video. More than 50% of that is on mobile devices.
Check out these stats:
- eMarketer estimates that the number of US digital video viewers will rise by more than 22 million between 2013 and 2017, reaching 204.6 million in 2017.
- Neilsen conducted a study on behalf of Google where they looked at 3,000 U.S. Campaigns. 46% would have increased their reach of millennials by combining TV and Youtube by 42% compared to TV alone.
So what makes video so important when considering including it into your marketing for 2016? Well, video used to only be thought of as an awareness driver, but according to Google, video now has shown an impact in purchase decisions. Things like, change in consideration, change in favorability and change in purchase intent are shown.
The people exposed to a video advertisement, 35% saw a lift in purchase intent and when you look at people who watched 30 seconds or more of that video, that stat jumps to 61%.
A quick 30-second video is fairly inexpensive to create, making them more accessible for brands and entrepreneurs. Video content can be used in both organic activities, through video marketing such as content amplification, social media or video advertising.
One final note, if the statistics alone haven’t convinced you why you should consider including video marketing into your portfolio, here’s one final thought: early adopters have the advantage of gaining the momentum in leads, sales, and brand loyalty.