Will the Video Marketing Trend Fizzle Out?
The short answer, “Absolutely not!” Video has become a mainstay in people’s lives since the invention of the television and continues to capture the eyeballs of most of the world’s population. The consumption of video marketing has skyrocketed since YouTube was created in 2005.
And it’s not going to stop anytime soon!
Video Consumption Statistics
- A study estimates that 82% of all consumer internet traffic will comprise online videos by 2022 – 15 times more than the traffic in 2017.
- In the United States, 85% of internet users spend time on video content on any of their multiple devices.
- When it comes to streaming, YouTube is the most viewed platform with over 1 billion hours of content being streamed in a single day with entertainment giant Netflix ranking second.
- Every single day, on average, people spend over 100 minutes watching videos.
- Emails with videos have seen an increase of 300% in clickthrough rates.
- Consumers are almost twice as likely to buy a product after viewing a demo video.
- 72% of consumers prefer video when it comes to learning about a new product.
- As many as 95% of consumers claim to retain information that they receive on video versus only 10% who retain information from text.
- The average time spent on a website is estimated to increase by 260% if it contains videos.
Video Marketing is Changing
While these numbers and figures seem enticing, keep in mind that video consumption is rapidly changing with new video platforms being created every day (Snapchat, TikTok, Instagram Reels, and Triller, to name a few).
A short-form video like TikTok has completely captivated Gen Z and Millenials. Both TikTok and Instagram Reels remain a largely unexplored territory for marketers.
Video Marketing is Here to Stay
The facts, figures, and trends point to a bright future for video marketing, albeit in many different formats. What’s more important for your business is to stay ahead of the competition and capitalize on the trends. Less than 10% of online marketers say they are advertising on short-form video platforms, yet those that report early success.
When planning your video marketing campaigns, consider quick organic videos you can publish on the new social media video platforms in addition to the longer form video advertising and marketing you would do on platforms like YouTube and your own website.