If you've been sleeping on creating a video marketing strategy, we have the staggering statistics that will convince you to start.
According to the State of Video Marketing in 2018 Report, 81% of businesses are already using video marketing. Your peers, competitors, and everyone that will be at your next high-school reunion are using it. As a result, you need to make video marketing a top priority this year, and the sooner you start, the better. By 2021, Cisco predicts video traffic will be 82 percent of all consumer Internet traffic.
Given the success that some companies are experiencing from video marketing, once you start working with video, you'll regret not doing it sooner. The video marketing statistics for brands like Tuft and Needle, Brita, and Unbounce are staggering. It's proof that once you find your rhythm with video marketing, you can get incredible, long-lasting results.
If you're ready to level up your marketing efforts and grow with video, keep reading.
The 7 Video Marketing Statistics You Need To Know
Regardless of your product or service, there's a unique opportunity to reach and engage better with customers with video. But to get there, you need to create a video marketing strategy that elevates your brand and energizes your employees. It can't be boring, and it needs to help you nail your overall business objective. Once you create that strategy, you can start using video to drastically improve your performance across marketing, sales, and customer service.
Here are some encouraging video marketing statistics that demonstrate the possibilities.
(If you're not in charge of implementing video marketing at your company, get ready to share this post with whoever is.)
Tuft and Needle Spends Half Their Budget On Video
After mastering the types of videos and formats that best engage their customers, Tuft and Needle can now allocate half of their advertising budget to YouTube. After starting at $50-$100 a day, they found that video ads ranging from 30 seconds to two minutes brought in the best results. One of their best videos, Mattresses Uncovered, discusses the differences between various mattress materials in the industry. It has over two million views on YouTube.
"Video was the most powerful way to show the stark difference between our authentic approach and the traditional mattress industry’s gimmicks. And video ad targeting helped us reach likely customers – people visiting our website, looking for real estate or doing searches like “best mattress." - Daehee Park and JT Marino, Founders, Tuft & Needle
The company made $100 million last year, and plan on using video marketing and YouTube to scale even further. To create something similar, you can evaluate the competition within your industry, and create a video that walks through all of the differences between your products and services.
RevZilla Makes 50% More In Revenue
Using video marketing, RevZilla got seven million views and had a 50% increase in revenue over the past few years. The e-commerce company creates videos using their team's expertise to guide the narrative. They credit their success with video marketing to monitoring performance and involving their entire team in the creative process.
"We realized that with our team’s collective knowledge we could better serve our customers, and reach some new ones, through video ads demonstrating new products and essential safety tips." -RevZilla
Will this work for your brand? According to HubSpot, 69% of people buy a piece of software or application because after watching a video. If you have a knowledgeable team, this could be the right angle for your video marketing. The material is perfect for new customers who are getting to know your brand or have questions regarding your product.
Unbounce Decreases Time On Customer Support
Every company has to provide guidance and answer questions from their customers. Unbounce streamlines the process by filming 90% of their support answers. This way, they don't need to provide a custom response for frequently asked questions or common challenges. They can quickly cover the most common frustrations that their customers feel using their product in a quick video.
"One of the things that makes Unbounce such a powerful tool is that there are a lot of things going on within the product, which is great, but sometimes that brings about frustrations for users,” Quinn said. By having step-by-step videos on hand to guide users through their questions, faster resolution times are easier to achieve."
If you spend a significant amount of time talking to your customers, this could be an effective strategy. You can use these support videos in marketing within an email workflow or a blog post. You can allocate less time to customer support, and focus on providing more in-depth guidance when it's necessary.
Bluleadz Closes More Deals
Blueleadz continues to expand their use of video marketing. After getting comfortable using video throughout the buyer journey, the company started using video within the sales process, resulting in a 36.9% higher close rate. At the end of the buyer journey, they send a "meet and greet" video to their Bottom-of-the-Funnel (BOFU) leads with a tour of their office.
"Because we're growing with video every day, we're always discovering new ways to use video and new ways to not use it," says Alex. "Having all of this data has made us realize, hey, maybe we shouldn't use Turnstile on every video at the 10-second mark. Maybe it's more important to get that value across and follow up with a CTA at the end. We came from very humble video marketing to something that can actually drive results." - Alex Dunn, Video and Media Specialist for Bluleadz
You can replicate this strategy for your company to persuade on-the-fence leads to become customers. When customers are considering investing in your product or service, sometimes all they need a little reminder that your company is right for the job.
Wistia Drives Engagement
Wistia, an internet video hosting and analytics company for business, proves that video can improve email engagement. Their team generates around an 80% average engagement rate using custom-made videos by their employees. The videos live in their email signatures, capitalizing that on average, people send around 122 emails a day.
"Your prospects and customers are not likely to feel a real human connection to you through typed words on a screen. If they’re able to see your face and learn what you’re interested in, they’re much more likely to trust you. Whether you’re trying to close a big deal or just checking up on a happy paying customer, these videos will ensure that each individual you communicate with establishes a connection to you and your brand." - Margot Da Cunha, Wistia
If you can find spots in your marketing and sales processes to add this kind of video, you can make a more significant impression on your lead. De Cuhnha says she frequently has people follow up about specific fun facts she includes in her videos, such as an affinity for pizza.
Neutrogena Reaches Their Target Customer
Neutrogena, the skincare, hair care, and cosmetic company, broadens their reach and builds awareness around their products with video ads. For instance, to promote their new Light Therapy Acne Mask, the brand ran ads targeting a set demographic of U.S. 13-24 year-olds on the one channel they knew their target customer spent time.
"The preferred mode of delivery was YouTube," said Simon Geraghty, brand director for the Neutrogena Light Therapy Acne Mask. "Because that's where our consumer hangs out, and that's where she goes specifically to learn and research trends."
After seeing success with that campaign, the brand went on to triple their investment in YouTube and video marketing. Neutrogena now successfully reaches 35% of their target demographic per month, using their customer's challenges, an ecosystem of new content, and a combination of ad formats to guide their customer through the funnel.
If your target customer spends a significant amount of time on any platform, such as YouTube, Facebook, or Twitter, video marketing ads could be a great way to connect with them. It's also a great way to address potential objections to your product or solution before customers even think of them.
Brita Filters Boost Mobile Traffic
You probably couldn't go through your day without watching a video on your phone. Over 500 million people watch video on Facebook every day alone. The Clorox Brand, Brita (the water containers) found their footing in video marketing and mobile by experimenting with an influencer marketing strategy. The brand already works with NBA player Steph Curry and brought on YouTube Influencer King Bach to create a one-of-a-kind video addressing one of their customer's pain points: inconsiderate roommates.
"We’re always carrying out social listening to learn more about our customers, and one thing we noticed was that people would regularly complain about a roommate or partner who drank the last of the water in the Brita and didn’t refill it. Refilling an empty Brita used to take a few minutes, but our new product, Brita Stream, filters as you pour, so it eliminates the waiting." - David Kargas, director of marketing communications at Clorox.
With the ad, Brita got a 2,000% mobile search lift. Given that 6 in 10 YouTube Subscribers would follow advice from their favorite YT creator, pairing with someone of influence in your industry could be a great way to increase brand awareness or announce the launch of a new product. Even without an influencer, a video that puts humor behind a common customer problem is an excellent addition to a blog post or email.
The Right Time To Start Video Marketing
The decision to incorporate video marketing into your strategy comes down to one question. How do you want to grow six to twelve months from now? While video marketing takes time to gain traction and master, it's well worth the effort. Without it, you will miss out on engagement and nurturing initiatives that could provide substantial growth. Any of the CEOs from the above brands would agree that opportunities with video marketing are endless.
Video marketing is also a great way to improve your inbound campaigns. You can find creative ways to address crucial parts of the buyer's journey and spice up your marketing collateral. Brita creates videos that leverage their customer's day-to-day frustrations, Neutrogena gets in front of any potential customer objections, while Wistia finds a way to make their emails more engaging. If you can base your video strategy on what the customer needs to move forward with you, before long, you'll be increasing qualified leads and sales.
To learn more about creating an excellent inbound marketing strategy, get our free book download, Conquering the Inbound Marketing Mountain.