We’re a society of watchers, more than readers – and growing numbers of business decision makers are basing their purchases on what they see in an online video. Here are some video marketing stats from 2016 that B2B executives can’t afford to ignore.
Thanks to the multitude of internet video channels, overall video consumption on the internet continues to grow exponentially.
COMMERCIAL VIDEO CONSUMPTION RATES
- Mobile video consumption rises 100% every year. (YouTube)
- 147 million Americans watch video on the internet. (Nielsen Wire)
- 75% of executives watch work-related videos on business websites at least once a week.
- The average user spends over 16 minutes watching online video ads every month. (Comscore)
Not only are we watching more to help us decide what to buy, we’re paying closer attention and remembering better.
ENGAGEMENT RATES WITH COMMERCIAL VIDEO
- Combining video with full page ads boosts engagement by 22%. (Rhythm and Insights)
- 65% of executives visit the marketer’s website and 39% call a vendor after viewing a video. (Forbes)
- 80% of users recall a video ad viewed in the past 30 days. (Online Publishers Assoc.)
- 36% of online consumers trust video ads. (Nielsen Wire)
- 59% of executives would rather watch video than read text. (Forbes)
Once we’ve watched a video, we’re more prone to take the next step, and to make the buy.
VIDEO’S IMPACT ON CONVERSION RATES
- 90% of users say that seeing a video about a product is helpful in the decision process. (Rhythm and Insights)
- Explainer videos increase conversion rates by 20%. (Unbounce)
- Including a video on your homepage can increase conversion rates by 20% or more. (ReelSEO)
- Video on a landing page can increase conversion by 80%. (Unbounce)
- 46% of users take some sort of action after viewing a video ad. (Online Publishers Association)
- Including video in an email leads to a whopping 200-300% increase in click-through rate. (Forrester)
- After watching a video, 64% of users are more likely to buy a product online. (ComScore)
- Introductory emails that include a video increase click-through rates by 96%. (Implix)
Video doesn’t just influence people to become direct customers. In many cases it can turn them into de facto brand ambassadors – especially when the video is short, funny and to the point.
VIDEO SHARING AND VIRALITY RATES
- 92% of mobile video consumers share videos with others. (Invodo)
- Comedy is the most popular form of shared video content among all viewers, at 39%. (Burst Media)
- Enjoyment of video ads increases purchase intent by 97% and brand association by 139%. (Unruly)
- 80% of online video ads are abandoned within the first half of the ad. (VINDICO)
- Videos that are 15 seconds or shorter are shared 37% more often than those that last between 30 seconds and 1 minute. (Juno Group)
Sounds great, right? Only problem is, how can you find a quality video production that will entertain, inform engage and influence the purchase? Many product videos you see today fall pitifully below that standard. Great script quality and high production values don’t come cheap, yet there are lots of companies out there peddling commercial videos at cut rate prices. It’s an easy mistake to pour dollars into the wrong production before you realize it’s not going where you want.
This is where a professional marketing agency can be helpful. Even if they don’t have an in-house video production team, they can help you budget for it and negotiate a good rate with the best producer for your project.
For sources on the statistics quoted in this post, see 50 Must-Know Stats About Video Marketing in 2016.
Shannon Prager is the President of Leadit Marketing. She is responsible for the daily operations and management of Leadit Marketing as well as the long term vision for the company.
A marketing leader with over 17 years of B2B demand generation and marketing experience, she understands the importance of a fully developed marketing strategy. Shannon’s background includes demand generation, marketing automation, social media and marketing operations. You can follow her on Twitter via: @LeaditMarketing