Video Marketing: Is It Really King?

Marketing experts have been saying for a few years now that video is going to become the next big ruler of the marketing world. But is video marketing really living up to all of the hype now that it’s 2017? Here are some of the latest stats from Wyzowl to tell us yea or nay.

More businesses are using video.

First, it looks like businesses are incorporating more video in their marketing now than ever before. Wyzowl’s December 2016 survey reports that 63% of businesses were using video in their marketing. That’s up from 61% a year prior. Of those businesses that do not currently use video in their marketing, about one third plan to use video in 2017.

Video helps businesses teach their consumers.

The survey also assessed how exactly businesses are using video in their marketing. An astounding 97% of marketers responded that they used video to help their consumers better understand a product or service that they offered. This goes along with what consumers who participated in the survey reported. About 79% reported that they would rather watch a video to learn about a product than read text on a page. (That’s up 10% from a year prior.) Meanwhile, 91% of consumers reported that they have watched a video to learn more about a product.

Video turns viewers into buyers.

According to the survey, about 81% of marketers who use video in their marketing reported that their explainer video directly helped them increase sales. Among consumers surveyed, meanwhile, 84% reported that they have been convinced to purchase a product or service after watching a brand’s video.

Video generates more traffic.

The survey also shows that video seems to be generating more website traffic for businesses. Of the marketers using video, 76% reported that video had increased traffic to their website.

Video helps decrease support call volume.

What you may not have realized is that video can help you save on customer service costs for your business. Over half of businesses that use an explainer video reported that their video resulted in a decrease in support call volume.

So, clearly video is, in fact, continuing to make an impact in 2017. Businesses are using it more, and consumers are watching it more. And with more video platforms like Facebook Video and Instagram video, it looks like this trend will continue for the foreseeable future. Of course, video is still only one aspect of a well rounded marketing strategy. Head to the blog for more marketing insights for your business.