7 Vital Stats That Show Why Video is the Medium of Our Time:
Video killed the radio star, and then obliterated everything else in its path to become the de facto method of engagement for consumers, businesses and marketing outreach.
The evolution of video has seen it become a prominent player in every industry, from the entertainment business to pharmaceutical companies and everything in between. It’s now the most effective way for businesses to share content.
81% of brands now use video as a marketing tool, which is up from 63% from previous years. The digitisation of, well, pretty much everything, has only increased video’s influence. Simply using the word “video” in an email subject lines boosts open rates by 19%, while 83% of businesses say it brings them a high return on investment (ROI).
But just in case you’re not sold yet, here are seven more vital stats that show why video is the medium of our time.
1) 10x the engagement levels
Video is essentially immersive marketing, as it has the power to increase engagement levels beyond other methods. Audiences are 10 times more likely to engage with video content than they are any other medium. Whether you’re turning video into snippets for social media or filming customer testimonials, it offers an array of methods for telling stories. It’s a versatile tool that captures a range of imaginations, which helps to increase engagement levels.
2) 92% believe sharing is caring
A whopping 92% of people share a video after watching it. Going viral is all the rage, but getting people to share content is one of the hardest things to do online. Fortunately, video increases your chances of creating popular content that gets routinely shared online and off.
3) 65% watch video on your website
The power of words have their place in the realm of content, but when it comes to keeping people engaged with your website, video is the primary driver. 65% of web users watch more than half of a video on a website. If you’ve got a story to tell, you’re better off doing it with moving image.
4) 49% of business grow faster with video
Brands that use video are growing faster than those that aren’t, with 49% of businesses seeing an uptick in fortunes when they implement video marketing into their strategies. Deciding against using video marketing can be a costly error, leaving brands to play catch up in a [digital] world where everyone is already competing to put their brands in the spotlight.
5) More than 50% of consumers want to see branded video content
The age-old saying “the customer is always right” will always ring true, and video allows you to give the people what they want. More than half of all customers wish to see branded video content, which they demand more than any other content type.
6) Conversions increase by 71%
Put simply: video is easier to monetise. Conveying your message through video converts more customers, with conversions increasing by an impressive 71%. People like to see things in action, whether you’re showcasing an event demo, providing educational “how-to” guides, or creating personalised messages. The easily digestible nature of video makes storing information that much easier.
7) 95% information retention rate
Getting your message across is one thing, but convincing people to store that information is another. We retain around 10% of all text (unless you’re reading this post, of course), but remembering video information increases to a staggering 95% retention rate. With such staggering numbers, it doesn’t come as a surprise to see brands using it as a primary method for relaying messages.
Long live video
Video has become part of the cultural lexicon across so many different platforms. The options to express yourself through video are vast, and brands are embracing it in their marketing strategies. By the end of 2020, 84% of all internet traffic will be video-based. The business of video is booming, and there’s no doubt that it’s the medium of our time.
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