Oct 2023

Video is everywhere and is an intrinsic part of our everyday lives. As a result, it’s an essential component of any marketing campaign and the industry is busy!

But what about the finer detail? How are marketeers really viewing video as part of their tool kit in 2023?

In the annual Wyzowl Video Marketing Trends Report, usage, send, channels, trends and opinions are all charted and here’s the summary you need to know:

– Video remains a key priority for business using it as a marketing tool and its perceived importance has reached an all-time high.
– Marketeers feel more positive about its ROI than at any point since 2015.
– Consumers continue to view video as an integral part of their journey with brands.

Let’s dig a little deeper into the key findings:

– 91% of businesses use video as a marketing tool and this is at an all-time high!

– 92% of video marketeers reported that video gives them a positive ROI.

– 87% of marketeers feel that video has a direct, positive impact on sales.

– 96% of marketeers agree that videos have helped users increase understanding of their product.

Businesses who see video as an important part of their marketing strategy has risen to 96%

 

These are all positive signs for the use of video in marketing going forward into 2024 and, indeed 96% of those surveyed said they plan to either maintain or increase their video marketing budget.

So, what are the opportunities going forward?

Audiences continue to watch more and more video and the data suggests that the number of online videos watched per week, per person, has almost doubled since 2018. Unsurprisingly, YouTube, Facebook, LinkedIn and Instagram are the top platforms for watching videos.

92% of marketeers say video has given them a good ROI

 

Explainer videos have grown in success, with 96% of people reporting that they watch explainer videos to learn more about a product or service before purchasing. Creating those all-important explainer videos remains key to success across all sectors and industries.

Getting your brand in-front of your audience through the medium of video remains critical, and if you’re not already doing it, then you’re a step behind your competitors.

In summary…

Video remains an amazing tool for lead generation, brand awareness and, ultimately, conversions. The statistics point to a medium that is universally popular with marketeers AND their audiences and that its popularity will continue to grow.

Vive la video!