Right now, the vast majority of internet marketing experts are predicting a future absolutely dominated by original online video content. Video marketing may currently be the stomping ground of much larger companies, but research suggests that even the smallest and newest businesses out there could benefit enormously by upping the ante in video-stakes.
By the end of the current decade, video content will account for the overwhelming majority of all global web traffic. Which is precisely why now is the time to take into account a few of the most important facts and figures, which help solidify just how crucial it is to pay closer attention to the power and relevance of video marketing right now.
60 Seconds of Video = 1.8 Million Words
A picture is worth 1,000 words, but how about a minute of video? Well, according to one Forrester Research guru by the name of Dr. James McQuivey, you’d need to pen somewhere in the region of 1.8 million words to deliver the same level of information and impact as just 60 seconds a video. How exactly? It’s easy really – simply consider the subtleties, body language, atmosphere, music, hidden meanings and so that can be presented in just a few seconds of video.
Each and every day, somewhere in the region of 100 million Internet users go online specifically for the purpose of watching online video content. In addition, close to half of all Internet users watch at least one web-based marketing video every month. Video marketing gives businesses of all sizes the ability to reach gigantic global audiences like nothing else.
90% Influence Rate
In terms of influence, somewhere in the region of 90% of consumers say that their spending decisions and actions in general are influenced directly by helpful and relevant video content. For example, online stores that use video content to promote their products and promotions tend to close far more sales than those that do not.
16 Minutes, 49 Seconds
As of last year, the average time each and every Internet user spent watching video marketing materials online every month was 16 minutes and 49 seconds. Once again, you only have to refer back to the value of a single minute of effective video content to understand just how relevant this statistic really is.
Out of the hundreds of millions of web users that come across video marketing content every day, no less than 26% seek further information with regard to what the video they encountered was promoting. In addition, 22% go on to visit the website of the company responsible for the video, while around 12% will eventually buy the advertised product or respond exactly as intended.
Last but not least, on-going research has shown that each and every time an Internet user views a marketing video online, the chance of them going all the way to conversion increases by an incredible 64%. Not only this, but webpages featuring video content generally have vastly lower bounce rates and encourage consumers to spend considerably more time viewing and reading their content.