The Latest Video Marketing Statistics for 2016

I'm always trying to stay ahead of trends. I've heard people talk about being trendy as if it's a bad thing. But I think if you can be at the beginning of a trend you benefit from it. Let's talk about trends in marketing. Pretend you are a cat. And you want to catch mice. When you find a new area with mice in it, before there are lots of other cats, it is easy to catch them and there are plenty to get. When other cats hear of your success they flock to that area. The same is with marketing. When a new platform or strategy is working for early adopters, it then becomes a trend, then it becomes the norm, then it becomes saturated and it gets harder and harder to generate leads and sales. Get it?

I recently came across this post: The Ultimate List of Marketing Statistics for 2016 by Amber Moore.  She took the time to sift through thousands of statistics on marketing and compiled a list of 347. Click the link above to see all of them. 

I found some awesome stats about video marketing that are really important. I've listed them below with their sources.

60% of marketers are looking to use video in 2016, a 20% YoY rise. ALF Insight, 2016.

74% of online traffic in 2017 will be video-based. Usabilla, 2015

Shoppers who view video are 1.81X more likely to purchase than non-viewers. Adobe, 2015.

61% of businesses told us they currently use video as a marketing tool. Of these, 66% were NOT using video just 12 months ago. Wyzowl, 2016.

91% of businesses say they plan to increase or maintain their spending on video in 2016. Wyzowl, 2016.

93% of businesses who use video believe that it has increased user understanding of their product or service. Wyzowl, 2016.

64% of businesses who use video believe that it has directly led to increased sales. Wyzowl, 2016.

53% of businesses who use video say they struggle to promote the video content they produce. Wyzowl, 2016

A staggering 98% of users say they’ve watched an explainer video to learn more about a product or service. Wyzowl, 2016.

74% of users who watched an explainer video to learn more about a product or service subsequently bought it. Wyzowl, 2016.

77% of consumers say they’ve been convinced to buy a product or service by watching a video. Wyzowl, 2016.

67% of marketers plan on increasing their YouTube marketing. Social Media Examiner, 2015.

Cool right? So why am I saying video marketing is a trend? Video has been around since the early 1900s. But now, with the availability of high speed internet and devices that can handle streaming High Definition quality content, video is everywhere, not just on your TV. You now have a device that fits in your pocket that you look at several times a day. You may even be reading this on your phone right now. When was the last time you watched a video on your phone? A few minutes ago? Yup, isn't technology great. The reason why video marketing is such an important medium is this, there are still a lot of people not doing video marketing and most aren't doing it properly. It hasn't become the norm yet. Remember a decade ago you weren't carrying a smart phone and watching videos on it several times a day. Older marketers are still doing video marketing for TV commercials or to put up on a website. Those are a great part of your marketing strategy, but it's all about video ads on social media now.