Video by the Numbers - 4 Video Stats that Mean Something in 2017
It's 2017, and video is still really important.
Video rules the roost moving into 2017. Your Facebook feed has turned into a collective of videos with everything from news stories to breakdancing children to cooking guacamole infused mac 'n cheese. Bloggers are posting artistic how-to tutorials on building bed frames out of wood pallets. Big brands are going all out with crazy slo-mo shots of extreme athletes jumping from planes and whilst using their products. Video is here to stay, and it's only going to get better.
At Spirit Animal, we get this. And since it's literally our job to make cool videos, we thought we'd point out the top stats we think will help people understand just how valuable great video is. Soon enough, we'll have some really cool visuals to get our point across........but until then.....
Video helps when buying products!
90% of people find it helpful to watch a product video before buying something.
People love seeing how a product works, and what better way than to actually show them in a video? Great photography goes a long way, but allowing a consumer to actually visualize themselves with a product greatly increases their chance of purchase. That's the power of video.
Video on a landing page can increase conversions by 80%.
Research has shown that landing pages that contain a video, rather than just a description and photos, see huge numbers of converted users. Like we mentioned above, allowing an audience to visualize themselves with what you have to offer is a powerful thing.
Investing in video could ultimately result in huge returns if you can grow your customer base.
74% of millennials use video to compare products.
Millennials spend $600B each year. Why miss out on this huge consumer group, who relies so heavily on video in their buying journey?
This group of buyers has grown up on the internet, and is usually the early adaptor of new technologies. They were around for the early days of Youtube, and probably relied on "how-to" videos to build their furniture, write their resumes, and most importantly review products with fellow millennials.
This group expects product videos, and can be turned off if a company doesn't take the time to invest in product videos that they can use as a buying tool.
4xs as many consumers prefer to watch a video rather than read about your product.
Maybe people are lazy, maybe people just like watching cool things on a bright screen. Regardless, it's clear that video can be so much more effective in showing off your product or service without forcing your audience to wade through text on a page.
With a video, you can get your message across in just a few minutes. Pick out the most important points and allow your viewer to sit back and actively watch, taking in your content without having to think.
What to expect for video in 2017:
- Small businesses jumping into the mix - companies are seeing the value in investing in video and potential risks for kicking the can down the road
- Social video will continue to grow...fast - Facebook sees 8 billion views a day. That's a lot of opportunity for original social content
- Companies continuing to invest in high quality videos to appeal to hungry audiences who want information quickly, concisely and visually