The internet is quickly reaching a point where
small business owners need to embrace video marketing in order to survive. In
just a few years, ignoring video content will be on par with not having a
business website.
To explain why this will be the case, we’ll
let the small business video marketing statistics do the talking.
Consider the following eye-opening statistics
when weighing your options for incorporating video content in the year ahead.
The Unstoppable Popularity of Online Video
The first concept worth grasping is just how
dominant of a media form video has become in the past few years. Thanks to our
handy mobile devices, we can consume video anywhere at any time. Increasing
bandwidth also makes video more viable than it’s ever been in years past.
By looking at the following statistics, you
can see just how high the demand is for video.
●Video made up 73% of global
internet traffic in 2016; Cisco predicts it will make up 82% by 2021 ( Cisco)
●By 2021, the equivalent of 5
million years of video content will be watched every month ( Cisco)
●Live video will grow 15x by 2021,
making up 13% of all internet traffic ( Cisco)
●In 2015, US adults spent an hour
and 16 minutes of every day watching video online ( eMarketer)
●69% of people worldwide watch
video online, but 86% of those 18-26 do ( eMarketer)
●71% of teens 13-18 say they watch
mobile video ( eMarketer)
●The average person spends around 30
minutes watching video on their smartphones every day ( Quartz)
●Mobile video use grew 35% in 2017
( The Drum)
●55% of people watch a video online
every single day ( Forbes)
Social Media Is Driving Digital Video Consumption in Huge Ways
The big winners on the video scene are clearly
social media platforms. Including Youtube, social apps take up the majority of
our online time. They’ve also been driving huge growth in our video
consumption, especially Facebook video.
●Youtube is the second-most popular
mobile app; 71% of all mobile users have it installed ( recode)
●Youtube claims that mobile video
consumption increases 100% each year ( Forbes)
●300 hours worth of video content
are uploaded to Youtube every minute ( Statistic Brain)
●8 billion videos — equal to 100
million hours worth of content — are watched on Facebook daily ( Social Media Today)
●500 million people watch video on
Facebook each day ( Forbes)
●Snapchat users watch 10 billion
videos every day ( Social Media Today)
●Over 500 million hours of video
are watched on Youtube every day ( Social Media Today)
●Twitter’s video views grew 220x
between 2014 and 2015 ( Social Media Today)
●45% of people say they watch over
an hour of video on Facebook or YouTube every week ( WordStream)
●People upload more video content
in 30 days than what has been created by major US TV networks in the past 30
years ( WordStream)
●92% of people who watch mobile
video say they share videos with others ( Forbes)
●Video content on social media
generates 1200% more shares than text content and image content _combined_
( Forbes)
●Since most videos autoplay on
mute, and many people browse Facebook in a public setting, 85% of Facebook
videos are watched without sound ( Digiday)
Digital Video’s Effectiveness, and How Much People Prefer It to Other Content
As a result of our ravenous video consumption
habits, people have come to expect a larger portion of content created to be
video. When people do see video content being offered, they respond in
favorable ways by engaging more readily. They are also more likely to convert
to the next stage of a purchase after watching branded video content.
●4x as many people would prefer to
watch a video about a product rather than read about it ( Social Media Today)
●When making a purchase decision, 4
in 5 millennials look for video content as a form of research ( Social Media Today)
●70% of millennials say they’re
likely to watch a branded video while shopping for products online ( Social Media Today)
●96% of video viewers say they find
video content useful when weighing a purchase decision ( Vidyard)
●75% of executives say they watch
branded videos related to their job at least once a week, and 65% end up
visiting the website of the brand after viewing ( Vidyard)
●People are 10x more likely to
engage with and share a post if it includes a video ( Vidyard)
●43% of people say they want to see
more video content from marketers ( Hubspot)
●Half of internet users say they
search for videos related to a product or service before visiting a brick and
mortar store ( Vidyard)
●One in four consumers say they
lose interest in a business if it doesn’t have video content for them to watch
( Vidyard)
●When asked about the type of
marketing asset they’d like to see more of from brands, North American
consumers ranked video #1 ( Vidyard)
●59% of consumers say video footage
of testimonials help them decide whether they want to buy from a company ( Vidyard)
●Over a third of video viewers watch
the video in its entirety ( Hubspot)
●80% of consumers remember a video
they’ve watched in the past month ( Forbes)
Creating Video Content Leads to Higher ROI for Marketing Campaigns
Since people are eager to watch videos, and
videos can be highly effective branding or selling tools, creating video assets
can pay for itself in significant ways. By converting more people, earning more
leads and reinforcing other marketing campaigns, video content helps business
owners achieve better ROI.
●Adding a video to a landing page
can increase conversion rates by 80% ( Forbes)
●Companies that create video
content earn 41% more traffic from search engine results than those that don’t
( Forbes)
●Marketers using video earn 66%
more qualified leads every year and earn a 54% higher lift in brand awareness ( Optinmonster)
●76.5% of small business owners and
marketers get positive results from their video content campaigns ( Optinmonster)
●83% of business professionals using
video assert that it gives them good ROI ( Dreamgrow)
●82% of businesses consider video a
key part of their marketing strategy ( Optinmonster)
●97% of businesses that create
explainer videos feel that leads understand their business better after viewing
( Optinmonster)
●81% of businesses say that video
has helped them effectively increase sales ( Optinmonster)
●Using embedded video on your
website makes you 53% more likely to show up on the first page of search
results ( Dreamgrow)
●61% of all businesses now use
video content ( Dreamgrow)
●Video spending increased 53% in
2016, and mobile video spending increased a staggering 145% ( AdAge)
●Mobile video ad spending is
predicted to surpass desktop video ad spending in 2018 ( recode)
●67% of marketers run video ads on
YouTube, and 51% use Facebook video ads ( eMarketer)
●83% of marketers say they are
“confident” that their Facebook video ads will help them earn more purchases ( eMarketer)
The Power and Potential of Live Video Marketing Is Growing
For our final set of small business video
marketing statistics, consider the power of live video marketing. Since
Facebook and other platforms launched the ability to stream video live a few
years ago, the format has taken off. Consumers adore live video for its
immediacy and exclusive feeling. If you’re not watching the video live, you
missed out.
Marketers have been using this enthusiasm for
live video to their advantage, helping them earn engagement and get
conversions.
●People spend 3x more watching
Facebook Live videos, on average, compared to a typical Facebook video ( Facebook)
●Live videos earn 10x the amount of
comments compared to pre-recorded videos ( Facebook)
●81% of people watched more live
video in 2016 than 2015 ( livestream)
●80% of people would rather watch a
live video stream from a business than read its blog ( livestream)
●87% of people want to watch more
behind the scenes video content ( livestream)
●67% of viewers say overall quality
is the most important component of a live video stream ( livestream)
●36% of internet users have watched
a live video, but 63% of millennials have, and 42% have created their own live
video stream ( eMarketer)
●The live streaming platform Twitch
has 665 million viewers — a bigger audience than subscribers to HBO, Netflix,
and ESPN streaming services combined ( The Motley Fool)
●Streaming service Twitch achieved
a record 737,000 concurrent viewers in Q3 2017 ( The Motley Fool)
Let These Small Business Video Marketing Statistics Inspire You to Create More in 2018
Video content, and especially live video, is
set to grow and grow in the years ahead. Modifying your strategy and investing
in video will therefore only pay bigger dividends. As you improve and audiences
grow, you can achieve your marketing goals more easily than ever before while
enhancing the performance of your other marketing channels.
Now that’s something worth watching!