In April 2023, webdew started surveying businesses and marketers to get valuable insights into the existing and limitless world of Video Marketing.
We've generated this statistics blog based on the 206 responses received so far. Our plans include updating the survey of video statistics every quarter to provide statistics on 6 aspects of video marketing.
With this, we would like to create a motivated atmosphere for you all where,
A. If you've been using online videos to market your business, you can understand the scope of improvement for your business.
B. If you're considering using video to market your business, you can start by finding where to begin.
C. If you haven't thought about using videos to market your business, you should definitely consider it as a result-generating marketing tool.
You can further go through the latest Video Marketing Statistics 2024 with over 55 facts and assess its worth for your business.
Video Marketing Statistics based on 6 significant aspects
1. Usage of Video Content
1. With 82 % of businesses using videos as a marketing tool, it shows that most of them believe in the power of video marketing to gain profit.
2. Challenges while creating Video Content
2. 30.6% of business owners and video marketers consider the lack of in-house expertise and resources as their biggest challenge in video creation.
3. 26.7% of marketers and business owners face difficulty getting creative ideas while creating video content.
4. 23.8% of marketers and business owners consider the lack of budget an obstacle in their video creation journey.
5. 18.9% of marketers and business owners experience a drawback when measuring ROI or success after creating a video.
3. Type of Video Content
6. With 27.2% of votes, video marketers and businesses choose Social Media Videos as the most popular and effective way of creating video content.
7. 25.2% of video marketers and businesses create Explainer videos to market their content.
8. 15% of video marketers and businesses use Product Demos to make videos.
9. 9.7% of video marketers and businesses focus on creating How-to videos to present their business’s content to the audience.
10. 13.1% of video marketers and businesses create Customer Testimonial Videos.
11.4.9% of video marketers and businesses choose to create Company Culture Videos.
12. 4.9% of video marketers and businesses choose to create Sales videos.
4. Video Marketing Strategy
13. 86.9% of businesses consider video marketing an important and advantageous tool for their overall strategy of marketing.
14. 13.1% of businesses regard video marketing as unimportant to include in their marketing strategy.
Businesses consider Video Marketing important because,
15. 43.2% of marketers and businesses use video marketing to build brand awareness.
16. 27.2% of marketers and businesses consider lead generation and increased sales as the reason behind its significance.
17. 17% of marketers and businesses consider that video marketing leads to drive more traffic to your website.
18. 12.6% of marketers and businesses think that video marketing is helpful for having a social media presence.Â
When it comes to creating a marketing video,
19. 68.9% of businesses opt for In-house video creation.
20. 31.1% of businesses outsource their video production services to a company.
When it comes to creating a Video Marketing strategy,
21. 53.4 % of businesses and marketers focus on understanding their target audience and pain points to create a strategy aligned with their business goals.
22. 30.4% of businesses and marketers try to strategize for video marketing by setting clear objectives and KPIs.
23. 11.2% of businesses and marketers analyze customer data and feedback for a suitable video marketing strategy.
24. 5% of businesses and marketers focus on conducting competitor research to plan their path to use video marketing.
When it comes to the frequency of upgrading Video Marketing strategy,
25. 30.6% of marketers update their video marketing strategy every month.
26. 34% of marketers update their video marketing strategy every quarter.
27. 12.6% of marketers update their video marketing strategy every 6 months.
28. 22.8% of marketers update their video marketing strategy annually.
When it comes to creating fresh and engaging Video Content,
29. 38.8% of marketers and businesses think about creating more engaging content by experimenting with different types of videos.
30. 37.9% of marketers and businesses consider making engaging videos by regularly creating new content.
31. 15% of marketers and businesses consider incorporating humor or storytelling for engaging video content creation.
32. 8.3% of marketers and businesses consider collaborating with influencers or partners.
In terms of promotion of videos,
33. 76.7% of businesses and marketers prefer Social Media as the video marketing channel to promote their video content.
34. Followed by Paid advertising, 13.6% of businesses and marketers choose this channel to publish and promote their content.
35. 7.3% of businesses and marketers use Websites as the medium to publish and promote their video content.
36. 2.4% of businesses and marketers promote video content through Email Marketing.
When it comes to video SEO,
37. 74.3% of marketers include relevant keywords in the title, description, and tags for better promotion and ranking.
38. 12.1% of marketers promote their video content through backlinks.
39. 11.7% of marketers promote their videos by adding captions or transcripts.
40. 1.9% of marketers increase the video content’s reach by creating a sitemap that includes the video.
When it comes to future planning of businesses and marketers,
41. 33% of businesses and marketers are in view of increasing the frequency or volume of video content production.
42. 25.2% of businesses and marketers consider investing in better equipment or resources for video production.
43. 23.3% of businesses and marketers consider setting up an in-house team to continue using video content creation.
44. 18.4% of businesses and video marketers plan to expand the distribution channels for video content.
5. Investment in Video Marketing
45. With a noticeable proportion, 85.9% of the businesses maintain a separate video marketing budget.
In terms of the total marketing budget allocated to Video Marketing,
46. 5.8% dedicate more than 50% of their overall marketing budget to video marketing.
47. 14.1% allocates 25%-50% of businesses' total marketing budget to video marketing.
48. 40.8% allocates 10%-25% of businesses' total marketing budget to video marketing.
49. 39.3% allocates less than 10% of businesses' total marketing budget to video marketing.
50. 66% of the businesses consider continuing to invest in video marketing in 2023-24.
51. 34% of businesses refuse to invest further in video marketing.Â
6. Measuring ROI and success of Video Marketing
In terms of feedback,
52. With the majority, 64.1% of businesses receive a positive ROI on video after spending on video marketing.
53. 4.4% of business owners receive a negative ROI after spending on video marketing.
54. 31.6% of business owners don't track their ROI of video.
In terms of key metrics,
55. 45.1% of businesses and video marketers say video has helped build brand awareness.
56. 21.8% of marketers and businesses see a return through increased lead generation and sales.
57. 17.5% of marketers and businesses find that video marketing increases website traffic.
58. 15.5% of marketers and businesses get positive results through improved customer engagement or retention.
Ready to take advantage of these Video Marketing Statistics?
Undoubtedly, videos are constantly evolving and playing a crucial role in helping marketing professionals achieve new heights of success.
You can use these B2B video marketing statistics to highlight the current success of video marketing to bring further profit to your business.
To maximize the benefits of the power of video marketing, putting the best into your video marketing efforts, creating captivating videos, or taking help from a professional video production company and sharing video content is advisable.
If you have any inquiries related to video production, feel free to contact webdew. As an expert in video creation and marketing, we would love to provide exceptional video results.
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