The days when a video marketing strategy was simply an add-on to a larger content strategy are over: According to the most recent benchmark report from Demand Metric, almost 70 percent of B2B marketers now use video in their mixes, budgets are increasing, and 82 percent report success with their video marketing efforts. Today’s marketers are experimenting with video and seeing positive results.
The Demand Metric report states that “over one-third of large companies produce more than 100 marketing videos annually,” and over 70 percent of marketers who use video claim that, when it comes to conversions, video outperforms other types of content. It helps that the majority of the companies are employing some form of measurement on video marketing strategies—effective and consistent measurement offers additional opportunities to discover new trends among consumers.
In its Video Statistics: The Marketer’s Report 2014, Invodo sheds light on trends in video: how much shoppers really love video, the implications that can be drawn from the industry’s growing relationship with video marketing, and the ways in which marketers are leveraging the medium today. “Online video is now an integral part of a consumer’s online experience,” the study states. “Internet users turn to video for all online activities. . . . Within e-commerce, video helps consumers feel confident in their online purchases.” With 90 percent of consumers turning to online video—making them 1.81 times more likely to purchase than non-viewers—video’s efficacy is undeniable.
The idea of incorporating a video marketing strategy into a larger marketing plan is becoming more and more standard—so much so, digital players like Complex TV and Huffington Post’s HuffPostLive have started regularly incorporating video content. Even Sports Illustrated recently introduced “SI Wire,” a video-focused editorial venture that is expected to produce dozens of 30- to 60-second videos every day.
According to Invodo, 74 percent of all Internet traffic will be video by 2017. In a play to leverage growing video viewership, BuzzFeed has inked a partnership with VH1 to produce short-form segments promoting Couples Therapy with Dr. Jenn. It’s a move that speaks volumes to consumers’ hunger for video content—and to the opportunity marketers have to utilize the medium to reach them. Even Facebook recently celebrated it’s 1-billion-video-views-per-day milestone.
“Video fits into all aspects of consumer outreach,” Invodo contends. “With the emergence of platforms like Vine, Instagram’s addition of its video feature, YouTube’s continued growth, and the implementation of autoplay video ads on Facebook, video’s importance in social media continues to grow.” With spend rising 41.4 percent this year and projected to rise 40 percent next year, the medium is the fastest-growing ad format today.
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