People love video (says “video guy”).
There is no better way to bring to life a brand’s story, products, services, etc. You probably know this. This is not breaking news.
However, what you might not know are the compelling statistics about the video viewing habits of consumers, business leaders and decision makers.
Here you go.
VIDEO = 1,000,000 WORDS
You’ve heard the saying that a picture is worth a thousand words, but have you heard the one about a one minute video? According to Forrester Research, a one minute video has the same SEO power as 1.8 million words(text). That’s 3,600 pages of content assuming that the average web page has right around 500 words. Coming up with that many interesting words is time consuming at best and the odds are, that it isn’t going to be fully-read anyway. Many of us don’t have time for a compelling, long read, let alone a mildly entertaining or somewhat relevant read. I’m not necessarily saying that video is a substitute for the written language, but it can be a very important compliment.
THOUSANDS OF VIDEO CALORIES EVERY DAY
People Love Online Video – Somewhere around 100 million internet users watch at least one online video every single day. It is true that entertainment is one big reason for watching videos, after all, who can resist cute cats? “The truth is, people are always looking for information.”But video content isn’t just for keeping people occupied, it’s about delivering content as well. The truth is, people are always looking for information. They want to learn how to do something, get answers to questions and improve their lives in one way or another. That’s the real value of video, when it can help people learn, be inspired and get what they want.
VIDEO FOR DOLLARS
Video can boost sales – We’re an emotional species and nothing communicates with emotion better than video. Retailers are making the most of this. Approximately 90% of online shoppers use video to guide their purchases. That’s a huge number but it doesn’t tell the whole story. Videos keep visitors on a retailer’s site for longer, and the longer they stay, the more likely they are to buy. In fact, nearly 2/3 of visitors are more likely to purchase after they’ve watched a video.
DECISION MAKERS LOVE VIDEO
Executives Love Video Too – Executives have a different set of reasons for watching online videos. That’s not to say that they don’t have a funny bone or that they’re boring, but they are focused on business, for the most part. There are only 24 hours in everyone’s day and taking the time to read a long piece of text takes precious time. Over half of all executives say that they would rather watch a video than read text according to Forbes Insight. Even more importantly, 50% of executives that watch an online marketing video make a purchase for their business. For B2B companies, like ones in the tech industry, there even more encouraging stats about video and demand generation.
NUMBERS DON’T LIE
The average internet user watches close to 17 minutes of online video ads each and every month. That’s 204 minutes or close to 3 hours every year. If there are 5 million average users, that’s 1.75 billion hours of video marketing ad time. Even more profound is that somewhere around 80% of those viewers actually remember the ad, that’s 1.4 billion in our scenario. It’s true that not every marketing video is going to reach the maximum potential viewers, but even reaching a small percentage of the total video viewing market can be a huge advantage.
SCREW THE STATS
Ok, so lots of people are watching video. So what. Just because everybody is watching and using video doesn’t really mean much if the video they’re watching is ineffective. Video views don’t equal sales. When you successfully change a mind, a habit or successfully drive demand as a result of a video campaign, that’s the real payoff. That’s what we’re all chasing, isn’t it? (says Video Guy)