Video marketing is becoming increasingly important in the digital world, and it’s essential to stay up to date on the latest trends and statistics. In this blog post, we’ll explore some of the most important video marketing and statistics you need to know for 2023. From the rise of video consumption to the effectiveness of video ads, we’ll cover it all. Read on to learn more about the power of video marketing and how you can use it to your advantage.
Recent studies have shown that video consumption is on the rise, with more than 80% of internet users watching online videos on a regular basis.
This is a huge opportunity for businesses to reach their target audiences and increase their brand awareness. As just a small taster of the role of video advertising to date, video ads are becoming more effective, with more than half of consumers saying they have taken action after watching a video ad. This means that businesses can use video strategy to drive conversions and increase sales. Video content is becoming increasingly popular on social media year-on-year, with more than half of all video views coming from social media platforms. From youtube to Facebook, Instagram to Tiktok video content marketing is now a vital part of these communication platforms. This is a great opportunity for businesses to reach their target audiences and build relationships with them.
This trend is expected to continue in 2023, as more people are turning to video as a source of entertainment, information and direct marketing channel. Additionally, video ads are becoming more popular, with more than 70% of marketers using video ads to reach their target customers. Video ads are an effective way to engage viewers and drive conversions, making them an invaluable tool for businesses. Furthermore, video content is becoming increasingly popular on social media, with more than 80% of social media users watching videos on their feeds. This is an excellent way to reach a wider audience and increase brand awareness.
Video Marketing Costs Statistics
Video marketing can be an effective and cost-efficient way to reach your target audience, but it’s important to understand the associated costs. According to recent studies, the average cost of producing a video is around £1500, and the average cost of running a video ad campaign is around £3500. Additionally, the average cost per view of a video ad is around £0.15, and the average cost per click of a video ad is around £0.40. These costs can vary depending on the type of video and the platform it’s being used on, so it’s important to research the costs associated with each platform before launching a video marketing campaign.
Video Marketing for Business Statistics
Video marketing is becoming increasingly important for businesses of all sizes. Recent studies have shown that businesses that use video marketing are more likely to see an increase in sales and conversions. Additionally, businesses that use video marketing are more likely to have higher customer engagement and retention rates. Furthermore, businesses that use video marketing are more likely to have higher search engine rankings, as videos are more likely to appear in search engine results. Finally, businesses that use video marketing are more likely to have higher customer satisfaction rates, as videos are more engaging and informative than other forms of content.
Take Advantage of These Video Marketing Statistics
Video marketing is an invaluable tool for businesses of all sizes, and the statistics above show just how effective it can be. By understanding the costs associated with video marketing, as well as the potential benefits, businesses can make informed decisions about their video marketing campaigns. Additionally, businesses should take advantage of the various platforms available for video marketing, as each platform offers different opportunities to reach its target audience. Finally, businesses should take advantage of the increasing popularity of video content on social media, as this is an excellent way to reach a wider audience and increase brand awareness.
If you’re looking for more video marketing statistics for 2023, there are plenty of resources available. For example, the Content Marketing Institute’s Video Marketing Benchmarks report provides an in-depth look at the current state of video marketing trends, best practices, and more. Additionally, the Social Media Examiner’s Video Marketing Statistics report provides insights into the most popular video platforms, the most effective video content, and more. Finally, the HubSpot Video Marketing Statistics report provides an overview of the most effective video marketing strategies, as well as tips for creating successful video campaigns. By taking advantage of these resources, businesses can gain a better understanding of the current state of video marketing and make informed decisions about their video marketing strategies.
By telling a story through video marketing, you have the power to connect with your audience on a much deeper level. This can ultimately help you generate brand awareness, provide value, and direct more traffic back to your website. And yes, it can even assist you in landing conversions as well.
However, producing video content can be costly when you consider the time, effort, and equipment that’s involved – whether that’s working with a video marketing agency or doing it in-house. For that reason, many brands are hesitant to jump on board. If you’re on the fence about whether or not it’s worth the investment for your brand, this post is for you.
We’ve compiled some video marketing statistics that highlight how effective it’s been for other businesses so you can see how valuable it can be to your online presence.
The Hero Video Marketing Statistics
We take a look at the statistics that will push you right off that fence to start spending your marketing buck where it will give the most bang. These figures show just how popular video marketing currently is and that it shows no signs of slowing down any time soon.
Video increases conversion by 80%
Video content is also incredibly effective when it comes to conversions. According to data collected by Wyzowl, video increases conversion by 80%. This means that if you’re looking to increase your sales, video content should be a key part of your marketing strategy.
Video Content is Consumed by 74% of All Internet Traffic
Video content is responsible for a large portion of internet traffic. According to a report by Cisco, video content accounted for 74% of all internet traffic in 2022. This number is expected to increase to 82% by 2023.
Companies that use video marketing are more effective than those that don’t
According to data collected by HubSpot, companies that use video marketing are 53 times more likely to show up on the first page of Google search results. Additionally, businesses that use video marketing are also more likely to be found on social media platforms, with 59% of executives saying they would rather watch a video than read text. This means that if you want to increase your visibility online, video marketing should be a key part of your strategy.
There Were An Estimated 3.37 Billion Internet Users Consuming Video Content in 2022
According to data collected by Statista, there were over three billion internet users watching streaming or downloaded video at least once per month in 2022. This number is projected to increase annually, ultimately reaching nearly 3.5 billion by 2023. In the U.S. alone, there were approximately 244.4 million video viewers in 2020.
Online Videos Have an Audience Reach of 92% Worldwide
In 2021, it was reported that online videos had an audience reach of 92% among internet users worldwide. The most popular types of videos during this timeframe were: music videos, comedies and viral videos, and tutorial or how-to videos.
Video Content is Shared 1200% More Than Text and Images Combined
Video content is the most shared type of content on social media. According to data collected by Wordstream, video content is shared 1200% more than text and images combined. This means that if you’re looking to increase your reach and engagement on social media, video content should be your go-to. Looking to the future this is what you’ll miss if you’re not online.
A few important stats for successful video production
- 2 minutes is a good length.
- 82% of users don’t like it when a video isn’t optimized for their device.
- 62% of people prefer to watch videos on smartphones and tablets.
- Making customers laugh results in a 92% increase in purchase intent.
- Personalized videos have a 35% higher retention rate
What are the big video trends for 2023?
Necessity is the mother of invention so the needs of 2022 will become the actions of video marketing for 2023
- Live streaming: Live streaming is becoming increasingly popular and will continue to be a major trend in 2023. Live streaming allows you to engage with your audience in real time and build relationships with them.
- Augmented Reality (AR): AR is becoming more accessible and will be used more often in video marketing in 2023. AR can be used to create immersive experiences that engage viewers and make them feel like they’re part of the action.
- 360-degree videos: 360-degree videos are becoming more popular and will be used more often in video marketing in 2023. 360-degree videos allow viewers to explore a scene from all angles, creating a more immersive experience.
- Shoppable videos: Shoppable videos are becoming more popular and will be used more often in video marketing in 2023. Shoppable videos allow viewers to purchase products directly from the video, making it easier for them to make a purchase.
- Personalized videos: Personalized videos are becoming more popular and will be used more often in video marketing in 2023. Personalized videos allow you to tailor content to individual viewers, making it more engaging and effective.
- Interactive videos: Interactive videos are becoming more popular and will be used more often in video marketing in 2023. Interactive videos allow viewers to interact with the video, making it more engaging and memorable.
“Sixty-four percent of respondents expect their #video budget to be greater in 2023 compared with 2022 via @CMIContent @LisaBeets. #Research”
https://contentmarketinginstitute.com/articles/video-storytelling-research
More spend on video marketing will enable companies to integrate video content throughout all areas of their campaigns and increase reach across a variety of platforms.
“With video’s increase in importance, a corresponding positive return on investment is vital. However, 85% of marketers say they get average or below-average results. When asked what they need to get better results, the most frequently cited answer (59%) was a video strategy.”
https://contentmarketinginstitute.com/articles/video-storytelling-research
With strategy comes planning and more careful positioning, this will include deep-dive keyword research, optimised video SEO and increased use of hashtags – for example #videomarketingtrends2023 #videomarkwtingstrategy2023 #topvideotipsforbusiness
But where is the best place to put your video?
I think there is an argument to say if you’re going to invest in video put it in as many places as possible. Not everywhere will be right if it’s too serious or too wacky 🤪 but the more places you put it, the more places it can be seen.
“Only 12% of #Content marketers say they use #video to its full potential, according to @CMIContent #Research via @LisaBeets.”
YouTube is the most popular place to post videos
- YouTube has more than 2.5 Billion active users.
- 83% of US adults, and 79% of UK adults connected to the Internet use YouTube.
- 81% of parents utilize YouTube for their children.
- Almost 5 Billion hours of videos are watched every day on YouTube.
- YouTube replaced Facebook as the #1 platform for driving consumer behaviour – but it may be pushed aside by TikTok (check out our blog on how to market on TikTok).
Instagram is another great place for video
- Instagram has more than one Billion active monthly users
- 43% of US women use Instagram, compared to only 31% of men
- Instagram Stories have 500 million active monthly users
- 1/3 of the most viewed Instagram Stories are from businesses
We can’t forget about Facebook
- Facebook is the #1 platform for posting ad videos, due to great insight into demographics and targeted marketing.
- Facebook has 2.38 billion active monthly users.
- Facebook users are viewing approximately 4 billion hours of video daily.
- 33% of marketers have utilized Facebook Live as a channel.
- 1 in 5 videos is a live broadcast on Facebook.
- As much as 85% of the videos posted on Facebook are watched in silence.
TikTok – the new kid in town that’s taking marketing by storm
- On average, users spend more than 1.5 hours per day on TikTok
- In Q3 of 2022, TikTok surpassed 1 billion monthly active users
- 3.5 Billion Installations
- 167 Million TikTok Videos Watched in an Internet Minute
- Entertainment Most Popular Category on TikTok by Hashtag Views
- About 18 million people in the US have downloaded TikTok from the Apple App Store
- Second Most Popular iPhone App Downloaded in the U.S. in 2022
- Most Popular Overall App Downloaded Globally
- 150+ Countries
- 75 (or 39 or 35+) Languages
See here for the full list of 65 TikTok video marketing stats!
What strategies are expected to be most effective for video marketing in 2023?
As video marketing continues to grow in popularity, it is important to stay ahead of the curve and know what strategies will be most effective in 2023. One of the most important strategies for video marketing in 2023 will be leveraging the power of artificial intelligence (AI). AI can be used to create personalized, targeted video content that resonates with viewers and drives conversions. Additionally, using interactive video content, such as quizzes and polls, will be a great way to engage viewers and keep them coming back for more. Finally, using data-driven insights to inform your video marketing strategy will be key for success in 2023. By understanding how viewers are engaging with your content, you can create more effective videos that drive the desired results.
Future predictions of video marketing
By 2023…
- video content will account for 82% of all consumer internet traffic.
- the average person will spend 100 minutes a day watching online videos.
- the global video streaming market is expected to reach £124.57 billion.
- the number of video streaming subscribers is expected to reach 1.6 billion.
- the number of video streaming services is expected to reach 1,000.
By 2023, the average video streaming service will…
- have over 10 million subscribers.
- generate over £1 billion in revenue.
- have over 1 billion hours of content.
- have over 100 million active users.
- have over 500 million views per month.
Video marketing is an effective way to reach your target audience and increase engagement on social media. With the right strategy and creative content, you can create videos that will help you generate brand awareness, provide value, and direct more traffic back to your website. The statistics above show just how popular video marketing is and that it’s only going to become more popular in the future. So, if you’re on the fence about investing in video marketing, now is the time to get started.
Video marketing is an effective way to reach your target audience and increase engagement on social media. In 2023, the power of artificial intelligence, interactive video content, and data-driven insights will be key for success in video marketing. With the right strategy and creative content, you can create videos that will help you generate brand awareness, provide value, and direct more traffic back to your website. Investing in video marketing now is the best way to get ahead of the competition and stay ahead of the curve in 2023.
Oh hey, did you know that Gnu Films is a full-service video and animation production house, providing services to suit all budgets, styles and deadlines? Well, you do now! From video creation to distribution, we can help with every step of your video marketing process! If you’d like to learn more, check out our website, or if you’d rather chat things through, why not drop us an email at production@gnufilms.co.uk or give us a buzz on 01604 422 911 to speak to the lovely Emilie, our marketing specialist, or our brilliant director Eve!