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March 3, 2014

16 Reasons Why Online Video Is the Future of Marketing

When it comes to online marketing, traffic acquisition is only half the battle. Your company needs to inspire audiences to stick around.

The problem is that attention spans are fleeting — they’re only getting shorter. Studies on web use show that humans have an attention span of about 8 seconds. Our pet goldfish? Their attention spans are 9 seconds.

The competition for audiences is fierce. It’s estimated that 30 billion pieces of content are shared on Facebook alone each month. We’re bombarded with information and simply don’t have the energy to read through chunks of text from every brand that asks for our attention.

That’s where video marketing comes in. According to Switch Video CEO Andrew Angus, website explainer videos have the potential to boost conversions by as much as 20%. And yet, organizations are reluctant to jump in and make the investment. They’re scared of the price tag. They’re skeptical of the ROI.

They’re missing out.

If you’re doubting the power of video (or need some ammo to convince your boss), here are 16 fresh stats to convince you otherwise.

Part I: Why Video Is the Biggest Opportunity in Marketing

Consumer behavior is a force of nature that we marketers can’t ignore. Video has quickly become the heart and soul of online content consumption. Whether we’re procrastinating, seeking entertainment, or looking to learn a new skill, we rely on video to move us ahead.

1. 87.1% of US Internet viewers viewed online video in the month of November 2013 (comScore)

Why It Matters: Video has become a powerful, mainstream activity for users online. Video has become as accessible as the Internet itself.

2. The average number of videos watched per American user was 248.9 videos in November 2013 (comScore)

Why It Matters: That’s 8 videos per day! Videos empower audiences to digest more information in less time. We rely on video to learn, and we’re watching them at scale.

3. One minute of video is worth 1.8 million words, which is 3,600 typical web pages (Dr. James McQuivey, Forrester Research)

Why It Matters: Videos are more cost effective and practical than your budget might lead you to believe.They also convey more content, faster.

4. Video constitutes 50% of all mobile online traffic and over 90% of internet traffic (Diode Digital)

Why It Matters: The demand for video spans multiple digital platforms and can be a practical, cost-effective way to connect your marketing.

Part II: Video Content Drives Engagement

Want to build a memorable brand that inspires audiences? The answer isn’t to beat them over the head with aggressive ads. Create captivating, entertaining, and downright awesome videos.

5. 60% of users watch video content before reading text on the same page (Diode Digital)

Why It Matters: Video can be the gateway to inspiring further action on your website.

6. 20% of people share videos on their cell phone and 41% watch videos on their cell phone (Pew Center)

Why It Matters: The proportion of users sharing video from their phones is unusually low. Businesses can amplify reach by making their video content easier to share.

7. 58% of online video watchers watch it on a social network site (Pew Center)

Why It Matters: Video is, inherently, a social activity. When you design an explainer video for your website, expect to recruit audiences all over the web (not just on your website).

8. 72% of people watch YouTube or Vimeo Videos (Pew Center)

Why It Matters: Rely on content distribution hubs to attract audience attention.

9. 90% of information transmitted to the brain is visual, and visuals are processed 60,000X faster in the brain than text. (3M Corporation)

Why It Matters: Video can empower your brand to communicate more information in less space.

10. Visitors continue navigating your website for an average extra 2 minutes after viewing a video (Diode Digital)

Why It Matters: Video will inspire your audiences to stick around longer — potentially because your brand will be more likely to pique your audience’s interests and forge an emotional bond.

11. Photos are liked 2x more than text updates, while videos are shared 12x times more than links and text posts combined (SproutSocial)

Why It Matters: Highly engaging videos can generate free, incremental marketing for your company.

Part III: Video Content Boosts Revenue

By now, you’re convinced that video marketing is invaluable for user engagement, web traffic, and social media. But what about sales? Here is how video marketing can boost your company’s bottom line.

12. Dollar Shave Club’s viral video inspired 12,000 new sign-ups within 48 hours after the company’s launch (WSJ)

Why It Matters: Engagement translates directly into sales

13. Buyers and sellers can typically visit an average of nearly 5 websites before deciding which product to purchase. When you add video to your website, this number decreases to less than 2 (AgentImage)

Why It Matters: Videos can help reduce friction between consumers and their decisions to buy.

14. 76% of respondents acknowledge that videos in emails generate high click-through rates (SproutSocial)

Why It Matters: Videos can help convince potential customers that your website (and product) are worth checking out.

15. Including video in email marketing campaigns increased revenue by 40% (The Relevancy Group)

Why It Matters: The higher click-through rates that we mentioned in #16 are intrinsically linked with higher sales.

16. CrazyEgg’s explainer video helped CrazyEgg generate an extra $21K per month in revenue (DemoDuck)

Why It Matters: Track your results. You may find yourself surprised.

Final Thoughts

What’s important to keep in mind about video marketing is that you can’t cut corners. Video marketing isn’t magic. You need to commit the time and energy in crafting content that appeals to your target audience. Your conversions will be as strong as your strategy.

Well, there are some of our favorite reasons for online video, what are yours?