Video Marketing 2020According to wyzowl’sVideo Marketing Statistics 2020, 85% of businesses are using video as a marketing tool and 92% of marketers consider videos as an important part of their marketing strategy.

There’s no denying that more and more businesses are becoming aware of video’s ability to educate, entertain and convert customers, just as wyzowl’s findings confirm: most commonly-created types of video are explainer videos (72%), presentation videos (49%), testimonial videos (48%) sales videos (42%) and video ads (42%). Regarding video marketing’s ROI, the survey reveals that 89% of video marketers claim video gives them generally a good ROI: 87% believe that thanks to videos their website traffic increased, 81% say it helped increase the average time visitors spend on page, and 95% that videos helped their clients understand their product or service – consequently, video increases sales (80%)  and generates leads (83%).

Putting aside what marketers think about video, wyzowl’s report claims that 96% of people have watched an explainer video to learn more about a product or service and 84% even said they have been convinced to buy a product or service after watching a brand’s video. People watch according to the findings an average of 16 hours of online video per week, which is a 52% increase compared to the past two years, and 86% would like to see more videos from brands this year. This might explain why people like to share video content twice as often with friends than any other type of content.

The growing popularity is understandable, considering that content cannot be transmitted more entertaining than via moving pictures. Smartphone users in particular love videos, making us wonder why marketers are often still unsure whether they can benefit from video marketing or not.

Here are some video marketing tips on when - and if - it really makes sense to apply videos:

1. Professional services: since B2B services are people businesses through and through, trust plays an extremely important role. With marketing videos, it is possible to present services in a personal conversation that creates the feeling of an individual approach for the viewer.

2. Entertainment: videos can be extremely entertaining, especially if equipped with good sound. What could be more obvious than promoting theater and show programs with short online videos? Material in digital form is often ready anyway and needs only to be edited.

3. Software: the main benefits of software can be presented in a much more entertaining way than with tables and technical data sheets: you can use video to bring the viewer very close to the user experience of a software product.

4. Emotionalization of low-involvement products: for everyday consumer goods such as bread or milk, the video marketing trend is just perfect, because it enables for the first-time storytelling with high entertainment value. No other medium is better suited to emotionalizing supposedly boring products.

5. Tourism deals: to inspire people, it is often enough to simply present your destination or accommodation in a multimedia way, because in the everyday world of people, such images awake desires.

6. Complex systems and machines: videos are essential to describe technical and complex products in an easy way, whereby the entertainment factor shouldn’t be neglected. Due to the complexity of the content, it is, however, advisable to hire a professional service provider for such kind of video production.

“The overwhelming majority of video marketers credit video with achieving important goals and these numbers have been remarkably consistent over a number of years”, wyzowl states, concluding that it is perhaps most impressive that around 9 in 10 marketers feel they get a return on the investment they make in video.

Every marketer can benefit from the advantages of videos, if they consider the fact that users expect high quality content and creativity – the essentials to stand out from the crowd.

By Daniela La Marca