With high-speed Internet and an array of categories to choose from, online video viewing has exploded. In fact, YouTube alone receives more than three billion views on a daily basis, and a good majority of these views are on products and services videos.
In order to determine how videos affect consumers, a series of studies and polls have been performed in recent years. The statistics have clearly revealed that not only are videos the preferred choice by an overwhelming amount of consumers, but people tend to remember the companies that create engaging and/or helpful videos, and usually end up purchasing a product or service as a result.
If you’re considering video marketing for your business, the following stats will give you a good idea of how much online video viewing has grown and how having your own videos can help your company:
1. An average one-minute online video conveys what a 1.8 million-word essay would convey, which equals over 3,500 blog posts.
2. People visiting websites spend an average of 88% more time on sites that include videos.
3. Over 70% of shoppers prefer to see a video on the products page while viewing a company’s website.
4. Close to 60% of shoppers in the United States state that watching a product video helps them feel more confident before purchasing. In the addition, these shoppers also feel less inclined to return a product if they viewed a video prior to purchasing.
5. YouTube is currently the leading platform in which consumers watch product videos, at 60%.
6. Although computers are still the primary way that most consumers view videos, over 50% said that viewing videos on their smartphones is a quick and convenient way to find product information. Mobile users represent a large portion of consumers.
7. By 2016, experts estimate that at least two-thirds of the world’s mobile viewing will be videos.
8. By placing a video on your business landing page, your company website is 53% more likely to show up on the first page of Google search engine results.
9. Companies that use videos in conjunction with email marketing see an average 75% decrease in email opt-outs.
10. In a recent survey geared towards hundreds of executives, 85% stated that they view business videos, and 65% typically view the company’s website after watching.
4Q: How Consumers Shop with Video: http://www.shop.org/sites/default/files/invodo_etailinggroup_-_how_consumers_shop_with_video_may_2013_v2_0.pdf
Cisco Visual Networking Index: Global Mobile Data Traffic Forecast Update, 2012-2017: http://www.cisco.com/en/US/solutions/collateral/ns341/ns525/ns537/ns705/ns827/white_paper_c11-520862.html
Forbes INSIGHTS: Executives Embrace the Non-Text Web: http://images.forbes.com/forbesinsights/StudyPDFs/Video_in_the_CSuite.pdf