25 Video Marketing Statistics to Persuade You to Use Video in 2023
What can we do to get you into a video today? Well, these video marketing statistics should convince you to make it a part of your strategy.
Photo by Sam McGhee on Unsplash
Video marketing is one of the fastest growing sectors in the world. Only 10 years ago people were paying £50,000 for a helicopter to be able to get an aerial shot… today, we fly our DJI Mini up for as little as £400 and capture imagery that’s arguably just as good as anything you’d have captured ten years ago.
All the social media platforms are now stating that they prefer video content above all other forms of content and the only question should be… can you create it quick enough. So, why aren’t all business using video? They should be and if you’re on the fence about it, hopefully these video marketing statistics will motivate you to take action.
Video, in simple terms, generally sits into two broad categories:
- On demand evergreen content that requires more time and effort but the payoff is a higher quality piece that can represent your brand and story more thoroughly.
- User generated continent as newsfeed filler to grab attention and quickly get info out there. This type of content is great for keeping people up to date with your brand and for building up a community around who you are and what you do.
Most brands should be aiming for a mix of the two in our modern video hungry world.
Is Every Company Using Video?
It may come as a surprise that some marketers are still well behind the curve when it comes to video. The most common complaint and reason for not using video is a worry that it’s too expensive, that they don’t have the time to deliver it and that they don’t even know where to start. And let’s not kid ourselves, price is prohibitive when it comes to film, especially when you are working with tight marketing budgets.
A recent study of marketing professionals found that:
- On average 40% of marketers are looking to spend no more than £500 on video production, with 97% of people looking to spend less than £10,000 on any given video production1. Another study of over 1,000 marketers found that only 14% of people are looking to spend over £8,500 with 35% of respondents planning to spend less than £2,000.
This is a very interesting stat as it shows that, yes people do want video but there’s no way they’re looking to pay big bucks to get it. Quickly consider just how expensive a video production can be… an average day with a small crew will cost a company anywhere between
$800-$2,000 a day just for the filming to take place, that doesn’t include the pre production, the editing, the re-edits, and the color grade. Why am I telling you this? Well, it makes you think about where the direction of video is actually going. Are we simply heading to a world where there are hundreds of hungry film makers all competing for low paying jobs? I think not, the reality is as
Video production will likely split into the two categories I mentioned above;
A) Evergreen content,
B) Self filmed content
Over the next few years companies will develop strong in-house teams to deliver the constant stream of user generated content that their audience needs. This will mean they have the ability to film and create at the drop of a hat and the cost of the productions are limited to the equipment and the salary. With most productions being able to be filmed on an Iphone these days the equipment isn’t much of an issue and considering the average monthly wage of a marketing assistant is less than half of the price of a video production I think the salaried iphone warrior makes sense. So what about production companies, are they looking at a bleak future?
Well no, people still want to stand out and filmmaking is as much an art form as a process. The first video category, The Evergreen Content, is where production companies will continue to thrive. As companies become very similar in their in-house approaches it will be up to higher end video production studios to create content that truly separates the small companies from the large.
- A recent study on this exact topic found that 50% of companies decided to make videos in house with only 13% of companies exclusively working with outsourced production teams1. The rest of companies will be working somewhere in between the two, some in house, some outsourced.
Is Video an Oversaturated market??
If your company is interested in creating video but hasn’t yet taken the plunge there are a few startling video marketing statistics that you should consider.
- According to data by Insider Intelligence the amount of people consuming, downloading and streaming video in 2022 was at an all time high of 37 billion people a year1. This is a figure expected to rise to 3.48 in 2023 and up to 3.65 by 2025.
With 3.65 billion video hungry eyes waiting for you to produce content, I don’t think there’s any worry that you won’t find a space.
- Furthermore the amount of people on the internet between the ages of 16-64 who watch video online at least once a week is now at 93%1. Music videos and memes account for the largest share of viewership (50% of people watching music videos and 37% watching memes) but a whopping 28% of people will watch an educational video every week and 27% of people watch a product video every week. This is good news for people thinking of taking their business online.
- More than 50% of marketers say that video is the single most important type of content to bolster their online presence1.
So, is video over saturated? Well no, not at all…
- It may come as a shock that video is the most underutilized content type on some of the world’s biggest social media platforms Facebook, Instagram and Twitter comprising just 14%, 11% and 5% respectively1.
Is Video Worth It??
Video marketers can provide these video marketing statistics to support why it is:
- Recent research on this exact topic suggests that 86% of businesses use video marketing as a tool in one way or another2. The importance of video to these businesses is made even more clear by the following statistic: 92% of professional marketing directors value video as a key part of their strategy in 2023.
So if we’re taking their word for it then video is most certainly worth it. In fact, video can be a major way to boost engagement, get new leads and drive sales. But hey, don’t just take their word for it, let’s look at the results.
- A recent study looked into the return on investment (ROI) that different marketing directors noted when using video and the results are eye opening2. Let’s just quickly go through a couple… 87% of marketers noted significantly greater traffic to their website when using video in comparison to other mediums, 82% of marketers noted an increase in dwell time (the time spent on a website), 86% of marketers have seen an increase in leads when using video and final 81% of marketers have seen a significant increase in real world sales when using video.
- Another recent study found that 84% of new purchases began with the customer watching a video on their social media or on the website about the product or service1.
- A further study found that a whopping 93% of brands got a new customer or sale because of a video on social If that’s not enough to convince you then I don’t know what is.
- Building on this, it makes sense then that last year 66% of video marketers suggested they would be spending more on video then any previous year1.
Video Drives Sales
In the end of the day video has to help your bottom line, otherwise you’ll have some hard conversations at your next board meeting. You can rest assured knowing that video now plays a fundamental part of people’s purchasing journey:
- In a recent study 88% of people noted that video persuaded them to purchase from a company and a further 78% of people said that video persuaded them to purchase or download a piece of software2.
Considering most people don’t like to admit that they’ve been sold to then you’d imagine that the real numbers are actually much higher in favor of video.
- A further study has shown that over 50% of consumers have said that video online has helped them decide which products and brands to buy from1.
Video is king, no matter what platform you are on…
You may be thinking to yourself “yea but we don’t need video as our customers are on platform x” well, think again, even Pinterest now favors video, yes PINTEREST, the social platform dedicated to image saving and bookmarking.
So, how is video faring on the world’s favorite social media platforms???
YouTube
YouTube feels like it’s been around forever. I can still remember watching a video when I was 8 (I’m now 27) on how to add mentos to a coke bottle to create a homemade rocket. Anyway, nostalgia out the way, today YouTube has over 2.85 billion monthly active users. To put that into perspective, that’s over 25% of the entire planet. But isn’t YouTube that place where people go to watch stupid videos? Surely it can’t be useful in a genuine video marketing campaign… think again.
- Over 90% of people say they’ve found new brands of products whilst on YouTube1.
- A global study found that 40% of shoppers have gone on to buy a product or service that they discovered on YouTube1.
Not bad for a platform designed to share funny cat videos.
LinkedIn, isn’t that Instagrams uncool older brother, the one full of CV’s and awkward business headshot photography? Well it may come as a surprise but LinkedIn is considered the world’s most powerful B2B selling tool and it’s a favorite for video marketers world wide.
- In a study over 1,000 marketers were asked which social media channel they would choose if they could only use one channel for their next campaign1. LinkedIn won, with 29% of marketers saying they would choose LinkedIn for their next video marketing campaign if they could pick just one social media 24% of the marketers choose YouTube and 19% choose Facebook.
So, how does video fare on the social media platform? The answer is very very well…
- According to LinkedIn’s business pages video is a hugely important aspect of the future of LinkedIn, currently video is 3 times more likely to be shared on LinkedIn than text posts!1
LinkedIn is also a powerhouse for lead generation:
- Marketers saw a two times higher rate of sales conversions when posting video to LinkedIn when compared to other platforms1.
A fact that just can’t be ignored is that live video is on it’s way. If user generated content is king of the content sphere, then live video is king of the user generated content sphere and the proof is in the pudding:
- Pre recorded video is great on LinkedIn but live video is king/queen! On average marketers get 7x more reactions and 24x more comments on live video than on any other type of video1.
The word facebook is not synonymous with social media, it’s the owner of Instagram and with
1.6 billion daily users Facebook is one of the most powerful companies in the world. As much as we all love to hate it, Facebook is one of the best places to sell your brand as a video marketer today and no list of must know video marketing statistics would be complete without it. But is facebook actually any good at driving sales? Well considering 65% of marketers plan on using Facebook in their next video marketing campaign then the answer is most likely yes2.
- According to Facebook 65% of people who find a product or a service in their stories go on to become more interested in purchasing that product or service1.
What’s more staggering is what you can achieve with Facebook ads.
- In comparison to TV ads, Facebook ads are 20 times less expensive and have the ability to reach two times as many people1.
Facebook is a great place to boost engagement and to meet new customers but as a quick tip, did you know that Facebook actively punishes videos published from third party sites like youtube and vimeo? This makes sense, why would Facebook want to share a competitor’s link across it’s site? With that in mind you should always upload videos directly onto Facebook.
- A Facebook native video – a video that is uploaded directly to Facebook and not via a third party – has ten times more engagement than a video link posted to the On top of this, native Facebook videos have 478% more shares than videos uploaded via other platforms1.
Instagram took the world by storm and has now cemented itself as the preferred platform for the world’s personal portfolio. To begin with they wanted people to only ever upload photos from their phones to keep the vibe of the site as personal. Today the platform is one of the largest content platforms with content creators of all shapes and sizes uploading photos, videos and mixed media work. But is Instagram worth investing in as a part of your next video marketing campaign?
- A massive 90% of Instagram users follow a brand on That seems like pretty good odds until you consider the fact that there are over 200 million business accounts on the network1.
- Shoppers love Instagram, this is made very clear when considering the fact that 70% of shoppers look to Instagram for their next purchase1. That makes the platform super important for giving your customers the correct information to help them with their next
So what is the best place to start a customer journey on Instagram??
- If your aim is to drive traffic to your website then Instagram Stories may well be the place for you to be. A recent study by Instagram found that 50% of Instagram users have visited a website to look at or purchase a product after seeing it in their stories1.
Conclusion
Video is well and truly here and guess what, it’s going to remain a big part of marketing for every business. As we’ve discovered there are many ways to get involved with video and you don’t need to jump in at the deep end spending thousands of pounds on a video production studio, the humble Iphone will do. The most important takeaway from the Video Marketing Statistics above is that today is the day for you to start. Video could be the single most powerful asset in driving up engagement, sales and creating long lasting relationships with your customers no matter which platforms you use.
References:
