It’s obvious that video has grown tremendously in the past few years. You can’t get on Google or virtually any news site without seeing the evidence – video is everywhere. Over 90% of internet traffic is now video-based. Why are we seeing video everywhere? More video is uploaded to YouTube in 60 days than all 3 major US TV networks have produced in 60 years!
So what exactly is making video go viral? Let’s check out the facts. Here are the most recent video marketing statistics for 2013:
Video is a HUGE driver of consumer confidence. Consumers who view a product demo while shopping are 85% more likely to purchase, according to Internet Retailer.
It was the fastest growing form of ad format in 2012. In fact, 1/3 of all online activity is spent watching video.
Video is more efficient. One minute of video is equal to 1.8million words. That’s 3,600 web pages!! If you write an average of one web page per hour, it would take you 150 days of writing to achieve the impact of one commercial, according to Forrester.
E-blasts are huge right? Most businesses use them because they are a virtually free form of advertising. Research shows that when video is embedded in an e-newsletter, click-through rates increase by 96%.
By next year, online video ad spending will swell from $1.97 billion to $5.71 billion. If video is not in your advertising budget, the statistics are stating loud and clear that your business will get passed by.
Consumers now expect video. Today’s mantra is “why spend 10-20 minutes reading about something when you can spend 1-2 minutes watching it?” With video, it is proven that most individuals retain 95% of the message, whereas they only retain about 10% of the message from text.
If you aren’t yet convinced that video is one of the most powerful tools out there to market your business, we in the video production industry encourage you to do your due diligence and research your competitors. Soon you may be the only one who isn’t using video to market your company.
This video was brought to you by Diamond View Studios a local Miami Production Company.