When it comes to allocating their marketing budgets this year, more and more small businesses are jumping on the video marketing bandwagon.
It’s hard to argue with their logic.
Video has slowly but surely grown to become a staple in most effective marketing approaches today.
At Yum Yum Videos, we surveyed more than 160 medium- and small-business owners across the United States to ask about their video marketing strategy for the year, how it compared to the previous year’s performance, and the results they’ve had.
The results paint a clear picture: Video is a powerful and reliable tool that consistently delivers remarkable results.
Not convinced yet? Let’s go over a few of the more impactful video marketing statistics from our survey, and see the picture they paint for video-powered marketing strategies in 2019.
1. 67% of businesses plan to make more than 3 videos this year
There’s so much confidence in the benefits that video marketing can bring to the table that two-thirds of the business owners we interviewed are committed to making at least 3 marketing videos in 2019 for their companies.
Of those, 34% are planning to make between 3 and 6 videos, 19% between 6 and 10, and 14% are thinking about going beyond the 10 videos mark.
How come they put so much faith into video content? Because they're aware of the competitive edge those videos can give their brands. Namely:
● A boost in conversions
● Increased sales
● Improved brand awareness
● More engagement in social media
● More traffic and time spent on their website
In a nutshell: Videos can work marvels for companies of any size. Trying your hand in video marketing (even if you invest conservatively in it) can give you a first-hand perspective of those benefits. Given that so many companies are already doing it, it might be high time for yours to discover how this strategy works.
2. 87% of business owners are satisfied with video marketing’s ROI
There's no better proof regarding the reliability of a video-powered marketing strategy than the ratio of satisfaction of those who’ve already tried it.
Almost 90% of the surveyed businesses stated to be satisfied with the returns of their previous video-marketing campaigns. In their eyes, investing in video content becomes a no-brainer since they had great results with the format already!
Given that the business owners we surveyed came from a variety of niches and industries, that figure rings even more powerful. It lends perspective to other stats signaling the widespread acceptance and general agreement on the results video can bring to businesses.
In a nutshell: A primary concern most small businesses have is figuring out the best way to spend its budget effectively. Since there’s no certainty when it comes to investing, knowing that so many companies stand happy with their video marketing’s ROI informs that decision making process.
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3. 83% of business owners are going to invest in explainer videos this year
Once you decide to try video marketing, the next logical step is deciding on which type of video to work on. A huge portion of our survey’s participants seem to have it figured out: animated explainer videos.
Explainers are short pieces that describe a business’ products or service in simple terms, using straightforward language combined with appealing visuals. They have become a go-to type of video in marketing due to how well they tend to resonate with most audiences.
In fact, there’s an astonishing 95% of people online that have watched at least 1 of these videos to learn more about a product or service. Likewise, when asked by a different study to identify a single type of video they’d like to see more from brands, explainers were the most popular choice.
In a nutshell: Most brands engaging in video marketing have them, and most customers have come to expect them. So, explainers seem like a relatively safe bet for small businesses who want to dip their marketing toes in the video content pond.
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4. Social media is the preferred channel to distribute marketing videos
Once you start engaging in video marketing, getting your content in front of as many eyes as possible becomes paramount. With that goal in mind, 59% of our survey respondents think social media is the ticket.
Given the social platforms’ popularity, it’s hard to disagree.
Almost all target audiences are on social platforms to some degree. So, it's only natural that marketers and business owners would turn to these platforms to upload their videos. But there’s a bit more than just that.
Other studies found that 53% of consumers say they engaged with a brand after watching 1 of their videos on a social network. Furthermore, 64% of consumers say watching a marketing video on Facebook has influenced a purchase decision.
These are huge numbers that denote a simple fact: Audiences on social media are listening, and are ready to respond to the message on display.
In a nutshell: Thinking that once you upload your new marketing video to your website your work is done is a common mistake. Like any other piece of marketing, video content needs to get in front your audience (the more the merrier!) to reach its full potential. The most straightforward way? Using them in your social media platforms.
5. 84% of surveyed business owners invested in promoting their social videos
Another huge nugget of information that our survey revealed: Not only do business owners prefer social media to distribute their marketing videos, they also make use of their paid promotion features.
It all comes down to social media’s capacity for returns, which seems to be satisfying most marketers across industries. In fact, of the 84% of people that invested in promoting their social videos, 85% are more than satisfied with social video marketing’s ROI.
Once you have that amazing whiteboard animation or heartfelt testimonial video, the goal shifts to getting as many eyes on them as possible. Most businesses seem to be having great results doing so through social media’s promotional channels like Facebook’s ads and the like.
In a nutshell: While social media channels appear primed to give exposure to your videos, starting from scratch – without an established following – can be challenging. Organic exposure takes time and incredibly valuable resources, and most small and medium businesses seem to have found success using promotional channels as an effective workaround.
Increasingly more stats evidence the fact that video marketing continues to grow in relevance and effectiveness in 2019. As most audiences continue to favor – and expect – more video content from brands, many businesses are gearing up to meet the demand.
So far, the numbers look great for those that do.
If your small business is looking for that marketing push this year, it might be time to give video a go. And if you’d like to learn more about how video marketing is faring in 2019 – and get insights you can use for your own strategy – check out the full analysis of our survey’s results.
Victor is an audiovisual designer, video marketing expert, and founder/CEO of the explainer video company Yum Yum Videos. Besides running the business, he’s a lifelong student of Chinese philosophy and a self-described passionate geek for all things sci-fi.