It’s no secret that over the last few years, people have changed how and where they consume media. For example, we typically don’t sit in front of a television aimlessly flipping channels anymore. Now we probably don’t even have cable anymore and instead simply decide which tv show to binge watch on our smart tv or handheld device. We might not even be at home when we watch our favorite shows or movies. We could be at a park, or a coffee shop and watching the latest Netflix must-see show. The moral of the story? It’s evolution, it’s great and it’s never turning back.
Now that we are changing how we consume media, marketers have to evolve to meet the changing habits of the internet viewers. In 2020, 83% of marketers believe that video has become the most important and influential forms of marketing and is why most brands have fully embraced it as a cornerstone of their digital marketing strategies. If you want to proof, ask yourself how many videos you have seen today as you browsed your usual websites.
Additionally, 48% of consumers say that they watch videos that reflect the products and services they’re interested in when it comes to informing their decision making. This is why one of the most popular types of videos is an explainer video, which is a short video explaining your products or services. You frequently see explainer videos on a home page of a website, or on a product or landing page.
In a recent article, Wyzowl reported that in 2020:
89% of video marketers say video gives them a good ROI.
83% of video marketers say video helps them with lead generation.
87% of video marketers say video has increased traffic to their website.
80% of video marketers say video has directly helped increase sales.
95% of video marketers plan to increase or maintain video spend in 2020.
The article further noted that “The Content Marketing Institute’s findings are similar. Both its B2B and B2C research for 2020 show that:
71% of B2B marketers use video marketing.
66% of B2C marketers use video marketing.
Impact reports similar findings. Research conducted by BreadNBeyond shows that 81% of businesses use video in their marketing strategy. And Social Media Examiner’s Social Media Marketing Industry Report shows that 57% of marketers used live video in 2019”
“Wyzowl’s research shows that people watch an average of 16 hours of online video per week. And, 84% of people say they’ve been convinced to buy a product or service by watching a brand’s video.”
In an era of fake or misleading news, plus the sheer volume of text that we are inundated with every day it is no surprise that consumers are leaning towards videos for their source of quick, infotainment when they are purchasing a product or deciding on a service. Videos offer marketers a world text simply cannot compete with, and it is not a trend. It is the next evolution of how we consume media.