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It's time to pop open the bubbly and get your party hats on because Teyuto is back with a bang! We've compiled the motherlode of statistics that will blow your mind and leave you gasping for air. Oh yes, you heard it right! We're talking about 38 Reliable Video Marketing Stats for Marketers In 2023.
As William Shakespeare once said, "All the world's a stage," he couldn't have been more right! In today's fast-paced digital era, videos are the center stage of attention. They are the champions of engagement, the kings of storytelling, and the sultans of conversions. Whether it's a product launch, a corporate presentation, or a social media post, videos have the power to weave magic and create an emotional connection with the audience.
Then, without further ado, let’s fasten our seatbelts and get ready to take a wild ride through the world of video marketing. Buckle up, because this is going to be one heck of a journey!
The topic of this piece is “Reliable Video Marketing Stats”. “Why reliable,” you may ask.
In this era of fake news and AI content, finding stats that are real can be like finding molehill on a mountain. During our own research, we came across the wild west of unreliable information with “sources” that didn’t have the mentioned figures. They’re just a figment of someone’s imagination. But still, they get posted, cited, and reposted so many times that wheat and chaff start looking the same.
Other times, the figures are so outdated that the information may no longer be relevant. Just think of it, how good is a pre-pandemic stat in a post-pandemic scenario, wherein everything from user adoption to content consumption to customer proclivities are completely different? But stat magnets even mention facts that came out of studies dating back more than a decade. How relevant is that going to be today, when nearly every facet of life has changed across the globe?
Take the stat “video generates 1200% more shares than text and image content combined” as an example. It has been featured in blogs as recent as 2023 and several credible sources of information such as Influencer Marketing Hub, Brightcove, and Forbes, Some mention G2 as the true source. Others, Brightcove. The true source could not be found. But it’s for sure that it dates back at least to 2015.
The fact that it is still being cited without a trace of skepticism raises questions about the integrity of some sources.
We decided to change that by creating a dataset you can rely on to make informed decisions. We’ve tried to keep it as recent as possible (Note: a few sources are still a couple of years old but this is a constantly updating blog. So, the relevant data will be fleshed out as new information emerges.)
If you wish to contribute to this initiative, please feel free to mail us at support@teyuto.com for any addition or revision.
Now, let’s begin!
A video has the power to engage and attract visitors like nothing else. So, they turn out to be a great source of web traffic. And, the data is here to prove it.
1. 86% of video marketers say video has increased traffic to their website. (Wyzowl)
2. 87% of marketers say video marketing enhanced the dwell time on their website. (Wyzowl)
3. Including a video in an email increases the click-through rate by 65%. (Campaign Monitor)
4. In the U.S., an average person spends 157 minutes daily watching videos on digital devices. (Statista)
Videos also tend to increase the conversion rate as,
5. EyeView says that including a video on a landing page can increase the likelihood of conversion by 86%.
In fact,
6. Just including the word “video” in subject tends to increase the open rate by 6%. (SuperOffice)
Video marketing empowers brands to connect with their audience and drive sales. Here are some statistics to back up that claim.
7. Over 9 out of 10 people want to see more videos from brands in 2023. (Hubspot)
8. The use of video in marketing results in a 70% increase in brand awareness, 51% increase in traffic, and 34% increase in sales. (Renderforest)
9. Product videos can increase purchases by 144%. (StacksAndStacks)
10. 85% of people rely heavily on video while buying a product online. (Brightcove)
11. Using video in lead nurturing can increase conversions by 20%. (DemandGen)
12. 96% of marketers say using video content has helped increase user understanding of a product or service. (Wyzowl)
Not only that, but video marketing also provides an excellent return on investment (ROI).
13. 92% of businesses say that video provides good return on investment. (Wyzowl)
14. 22% of marketers who used video in 2022 for the first time did so because they became clearer on the video ROI. (Wyzowl)
15. Video marketing has a positive ROI in 92% of cases. (Wyzowl)
16. 78% of video marketers say that video has helped increase sales. (Wyzowl)
17. 87% of video marketers say that video has directly contributed to their business revenue. (Hubspot)
18. 88% of video marketers express satisfaction with the video marketing ROI on social media. (Animoto)
This is because videos tend to be highly engaging and shareable, making them a great way to attract and retain customers.
19. 92% of people who watch a video will share it with others if they find it valuable. (SmallBizTrends)
So, it's no wonder that more and more businesses are turning to video marketing to drive growth and brand awareness.
Some interesting facts about video ads:
20. According to a ballpark estimate, people watch an average of 4 hours of video and non-video ads in a week. (Opera)
21. The average click-through rate (CTR) of video ads is 7.5 times higher than that of display ads. (Smaato-Liftoff)
22. Digital video ad spending increased by 49% in 2021 and was expected to further increase by 26% in 2022, ultimately reaching $49.2 billion. (IAB)
23. 80% of people can recall the video ads they’ve watched in the past week, making video ads more memorable than other ad formats. (Digital Content Next)
Video marketing continues to grow in popularity and effectiveness, as these stats show:
24. 96% of marketers believe video is an important part of their marketing strategy. (Wyzowl)
25. Almost all businesses (91%) are using video as a marketing tool. (Wyzowl)
26. More than 4 in 10 video marketers (42%) spend up to $500 on an average video, while a significant proportion spend between $501 and $5,000. (Wyzowl)
However, authenticity and relatability are also key factors in the success of video marketing. Consumers are increasingly interested in more natural and less polished content.
27. 78% of consumers feel marketing videos should be more authentic and relatable than polished and high-quality. (Hubspot)
So, it's clear that video marketing should remain a key component of marketing strategies, but it should also reflect the preferences and expectations of the audience.
Analytics helps uncover actionable insights from the pile of data that you may have.
28. Video analytics can provide valuable insights into audience behavior, including how people engage with your content. (Google)
29. Engagement is the most important metric for 60% of video marketers, indicating that keeping the audience engaged is crucial. (Hubspot)
30. Your audience is likely seeing the title and caption of your video (on top of the thumbnail) before watching it. (Hubspot)
The Over-the-Top (OTT) industry is continuously growing with an increasing number of consumers relying on it for their wide-ranging entertainment needs. Let's look at some statistics:
31. In 2022, global OTT TV and video revenue for SVOD reached $103.5 billion, and it is expected to cross $126 billion by 2026. (Statista, Digital TV Research)
32. OTT video revenues are expected to reach $316.10 billion by 2023 (Statista)
33. Netflix is one of the most popular OTT platforms. By Q4 2022, it had around 231 million paid subscribers globally, with the EMEA region accounting for 76 million of the customer base. (Statista, Statista)
34. Western Europe is expected to see 196.3 million users of OTT services, which is 45% of the population, by 2024. (eMarketer)
35. In the Asia-Pacific region, the leading markets for OTT video services are the Philippines, Indonesia, and Australia. The region is expected to increase OTT TV and movie revenue by 90% to $54 billion by 2026. (Digital TV Research)
The stats also indicate that people prefer watching OTT services via mobile devices. For instance,
36. Around 80% of users prefer watching videos on YouTube via their mobile devices. (Penthera)
37. 14% of users prefer watching fitness videos on mobile devices. (Penthera)
Moreover,
38. OTT video advertising will take over SVOD revenues by 2024. (Statista)
So, it's quite evident that the OTT industry is witnessing a massive growth and that the future of entertainment will rely more on these services.
Video content is a powerhouse for connecting with your audience, with its ability to be processed 60,000 times quicker than text.
As a result, video marketing has become more important than ever for organizations, providing enormous potential for engagement and return on investment. However, some marketers may be hesitant to invest time and resources in video content due to misconceptions about its development.
But fear not! Creating video content has never been easier thanks to the availability of video editing tools. And remember, customers love informal and conversational content.
Here's a fun fact: Did you know that Teyuto can boost website engagement? So why not give video marketing a try and see what kind of impact it can have on your brand!
Teyuto is a powerhouse for video management and streaming, boasting a plethora of features for businesses and content creators alike. The platform's drag-and-drop channel builder makes it a breeze to set up a single-page platform to host your videos, while the ultra-HD live and on-demand video streaming capabilities ensure that your content is delivered to your audience in the best possible quality. You can also create your white-label OTT app with Teyuto!
And that's not all! Teyuto offers a range of revenue generation options through advertisements, paid subscriptions, and transactional videos, as well as screen recording and sharing capabilities. And with integration with over 5,000 apps and services, it has got you covered in terms of flexibility and functionality.
But what truly sets Teyuto apart is its focus on user engagement. The platform offers in-video Q&A, live chat, and the ability to make videos conditionally available, all of which help to create a sense of community around your content. You can also set up your video player based on your brand colors and watermark. And with no commission on any transaction, you can maximize your revenue potential considerably.
In short, Teyuto is a complete video management and streaming solution that provides everything you need to take your video content to the next level. So, why not give it a shot and see it elevate your brand's video content game. Contact us now.
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