Video is Booming
Consumers are watching videos...
| 234 million |
online content videos Americans watched per month [ref] |
& not just funny cat videos!
| 44% |
have utilized online video while searching for local products and services within the past month [ref] |
Videos influence consumers on their path to purchase
Video content is in high demand among consumers conducting local searches on their way to making buying decisions.
Of those utilizing online video while searching for local products and services within the past month:
- over half (53%) have contacted a store based on the content of the online video
- 71% end up making a purchase
[source]
Why video works
| Video is visually stimulating |
Videos are 12X more likely to be watched than text is to be read. That's in part because movement is known to grab attention. |
| Video conveys messages faster and easier |
Visuals like video are processed by the brain 60,000X faster than text. 65% of people are visual learners, and videos help avoid cognitive strain. |
| Video is memorable |
In one study, 80% of viewers recalled a video ad they have seen in the past 30 days. |
[source]
Video is part of a marketing plan
Top 3 objectives for online video are at the top and middle of the purchase funnel:
- Increase brand awareness
- Lead generation
- Online engagement (& conversion)
[source]
Video helps businesses connect with their customers...
Consumer behavior with video results in:
- increase in conversion rates
- increases to time on page
| 96% |
are more likely to purchase after watching an online video that explains the product or service [ref] |
| 73% |
find video content helpful when making purchase decisions [ref] |
| 2 minutes |
people who video video on a website stay longer [ref] |
...which is why the market is growing
| $930 |
average annual spend by SMBs on online video production |
| 430% |
grown in spend by 2020 in online video production |
| 72% |
want to learn more about video marketing and plan on increasing their use of video [ref] |
“In the future websites, social site pages, and other mobile and social sites will be formatted around video, not written, content.” —
Borrell
