August 16, 2023
50+ Latest Video Marketing Statistics That You Need To Know in 2023
The digital era has witnessed a transformative shift in content consumption with the growing prominence of online videos. Video has evolved from being an optional feature to becoming an imperative element in effective marketing strategies, demanding our undivided attention.
In this article, we’ll dive into video marketing statistics that show its popularity among consumers and marketers and statistics demonstrating the efficiency of videos and their usage in marketing campaigns with the hope that these insights can transform your video marketing approach to maximize your chances of success.
Ready to explore? Let’s begin!
Online Video Content Consumption and Consumer Preferences
There’s no doubt that more and more people are spending more of their time to watching videos on the internet. Here are some view statistics to give you insights.
1. By 2023, the number of internet users watching streaming or downloaded videos is expected to reach nearly 3.5 billion.
The increasing accessibility of high-speed internet and the proliferation of devices contribute to the growing popularity of online video consumption.
2. Online videos achieved an impressive audience reach of 91.8% among global internet users by Q4 2022.
The widespread availability of online content and the convenience of streaming platforms have led to a vast audience engagement with videos.
3. On average, people spend around 17 hours per week watching videos online.
The captivating nature of video content and the variety of topics available contribute to the significant time people dedicate to online video consumption.
4. 91% of people would like to see more video content from brands in 2023.
Consumers appreciate visually engaging content that effectively communicates brand messages and offerings.
5. 51% of people are more likely to share video content than other types of content.
Videos often evoke emotional responses and are more shareable, leading to increased virality on social media.
6. Almost 70% of consumers watch video content on their mobile devices.
The convenience and portability of mobile devices make them a preferred choice for consuming video content on the go.
7. Video creation increased by 29% in 2022.
Various industries recognized the effectiveness of video marketing, leading to significant growth in video production across sectors.
- Real estate companies created 132% more video.
- Financial services companies created 83% more video.
- Professional services companies created 41% more video.
- Healthcare companies created 23% more video.
- Manufacturing companies created 21% more video.
8. 96% of marketers still consider video an ‘important part’ of their marketing strategy.
Video’s ability to convey complex information, engage audiences, and increase brand visibility makes it a crucial tool in marketing strategies.
9. 91% of businesses use video as a marketing tool in 2023.
Video’s versatility and potential for higher engagement have led businesses to integrate it into their marketing campaigns.
10. 21% to 30% of the total marketing budget is allocated for video by the majority of marketers.
The allocation of a significant portion of the budget demonstrates the confidence marketers have in video’s ability to drive results.
11. 91% of marketers’ companies invest up to $50,000 per year to create a marketing video.
Businesses are willing to invest in quality video production to ensure their content effectively reaches and engages their target audience.
12. 85% of marketers spend up to $5000 per video.
This spending range reflects a balance between investing in video quality and managing costs within marketing budgets.
13. 377 is the average number of videos a brand has in the library.
The extensive video library indicates the accumulation of content over time to cater to diverse marketing needs.
Video Marketing Challenges
The surge in video popularity is hard to ignore, but not business is fully on board with using them. Here are some reasons why:
14. 30% of marketers share that a lack of time stops them from producing videos.
The resource-intensive nature of video production can be a challenge for marketers working with limited time and resources.
15. 29% of marketers share that their biggest challenge when it came to creating videos is a lack of content ideas.
Developing fresh and engaging video concepts can pose difficulties, leading to the need for continuous creativity.
16. 18% of marketers don’t know where to start when it comes to making videos.
Video production can seem daunting to those unfamiliar with the process, resulting in uncertainty about where to begin.
17. 10% of marketers stay away from videos because they think video costs too much to make them.
The perception of high production costs can discourage some marketers from exploring video content creation.
18. 10% of marketers avoid videos because they are unable to convince key decision-makers of the need to invest in video.
Obtaining support from higher-ups for video initiatives can be challenging in some organizations.
Video Marketing Effectiveness and Benefits
Creating awesome videos is essential, but before investing in video marketing, smart decision-makers often want to know what kind of returns they can expect. Let’s check out some numbers that show the cool things videos can bring.
19. 95% of marketers think video is effective in increasing brand awareness.
The visual and auditory impact of videos makes them effective tools for establishing and reinforcing brand identity.
20. 94% of marketers agree that videos have helped increase user understanding of their product or service.
Videos can succinctly explain complex concepts, making them valuable in conveying product features and benefits.
21. 92% of marketers claim that video has produced a positive ROI.
The measurable impact of video on various aspects of marketing, such as engagement and conversions, contributes to a positive return on investment.
22. 91% of marketers say using video as part of their marketing strategy has boosted website traffic.
Videos’ ability to capture attention and communicate effectively leads to increased website visits.
23. 90% of marketers find video marketing an effective way to generate leads.
The interactive and engaging nature of video content facilitates lead generation by capturing viewers’ interest.
24. 87% of marketers think video has a positive impact on sales.
Videos’ ability to showcase products or services in action and convey their value proposition can directly influence purchasing decisions.
25. 85% of marketers find video to be an efficient way of engaging audiences with a brand.
The visual and emotional elements of videos enhance brand engagement and connection with consumers.
26. 53% of marketers believe that videos have decreased support inquiries.
Clear and informative videos can address common queries and issues, reducing the need for customer support interactions.
27. 89% of people say watching a video has convinced them to buy a product or service.
The persuasive power of video content, combined with the ability to demonstrate products, contributes to purchase decisions.
28. 79% of consumers say that video keeps brands top of mind.
Consistent exposure to video content helps maintain brand recall and recognition among consumers.
29. 62% of people find employee training videos useful for their business.
Video-based training provides a visual and interactive learning experience, enhancing knowledge retention and skills development.
Impactful Video Types and Lengths
Matching your video to audience preferences is important to make a significant impact and boost the success of your video marketing efforts. Here’s a quick look at video types and lengths that catch people’s attention.
30. Product demos and explainer videos are the two most common types in which companies have invested.
These video formats effectively showcase products and services, helping customers understand their benefits.
31. 70% of marketers create explainer videos
Explainer videos simplify complex concepts, making them valuable tools for communicating product features and processes.
32. Testimonial videos are a go-to for 46% of marketers.
Testimonials build trust by showcasing real customers’ positive experiences, influencing potential buyers.
33. 40% of marketers rely on sales videos.
Sales videos directly present products or services in a persuasive manner, driving conversions.
34. The average video length is 15 minutes and 31 seconds.
This average duration reflects a balance between providing comprehensive information and maintaining viewer engagement.
35. 85% of marketers say short-form videos have the highest audience engagement among all content types.
Short videos cater to viewers’ shorter attention spans and are more likely to be consumed fully.
36. 60% of videos are under 2 minutes long.
The preference for shorter videos aligns with modern audiences’ limited attention spans.
37. 83% of marketers recognize that the optimal short video length is less than 60 seconds.
Brief videos can quickly convey key messages and hold viewers’ attention.
38. 53% of viewers watch videos all the way to the end.
Engaging content, combined with effective storytelling, encourages viewers to watch videos to completion.
49. 66% of viewers will watch it till the end if it is under 1 minute long.
Short videos have a higher likelihood of retaining viewer attention until the end.
40. 96% of people have viewed an explainer video to get a better idea about a specific product or service.
Explainer videos provide concise and informative overviews, helping consumers make informed decisions.
Optimal Video Marketing Platforms
Picking the right place to share your videos is just as crucial as the videos themselves. With so many options out there, here are some interesting facts to guide you in closing the best platform for your needs.
41. Websites and social media platforms are the top two channels marketers preferred for video distribution.
These platforms offer wide reach and engagement opportunities for video content.
42. YouTube remains a top choice for launching video marketing campaigns, with 90% of video marketers including YouTube in their strategies
YouTube’s vast user base and searchability make it a prime platform for video marketing efforts.
43. Facebook, Instagram, and LinkedIn are worth considering. About 86%, 79%, and 79% of marketers, in turn, see them as part of their video marketing plans.
These social media platforms provide diverse options for sharing video content and engaging with different target audiences.
44. 47% of marketers acknowledge the effectiveness of incorporating videos into their company websites or blogs.
Embedding videos on websites and blogs enhances user experience and encourages longer site visits.
45. 63% of companies use their website as a video distribution channel.
Hosting videos on websites ensures controlled access and engagement while driving traffic to the company’s online presence.
46. 62% of people find a landing page with video more interesting than one without.
Videos capture attention and provide dynamic content that can enhance the overall user experience on landing pages.
Essential Metrics for Measuring Video Campaign Success
When it comes to measuring the success of video campaigns, there are certain important metrics that need to be considered.
47. 63% of marketers consider the number of views a video accumulates as a key measure of its success.
View count is a tangible metric reflecting the reach and initial engagement of a video.
48. 61% of marketers look at engagement metrics like shares, comments, and likes to measure a video’s success
Engagement metrics indicate the depth of audience interaction and the resonance of video content.
49. Leads and clicks stand out as the metrics for success measurement in video content, indicated by 56% of video marketers
These metrics directly link video performance to audience actions and business outcomes.
50. Brand awareness and PR serve as the metrics used by 43% of video marketers to measure video success.
Videos can effectively raise brand visibility and enhance public relations efforts.
51. For 42% of marketers, the ultimate measure of success revolves around customer engagement and retention.
Building lasting relationships through engaging videos aligns with long-term business goals.
To wrap up, it’s clear that video marketing is a powerful way to boost your content efforts, and we’re optimistic that these 50+ video marketing statistics have highlighted how adding videos can level up your content plan. If they have, click below to set up a free chat with us! We’re here to help you seamlessly integrate video into your comprehensive content strategy.
The State of Video Marketing 2023 (Wyzowl)
Video in Business Benchmark Report (Vidyard)
The Video Marketing Playbook (Hubspot x Playplay)
Video Marketing Statistics 2023 and Beyond (MotionCue)
The State of Marketing (Hubspot)
Video Insights for 2022 (Animoto)
The 2022 Video Marketing Landscape Report (Lemonlight)
Statista Portal (Statista)