If video marketing is the future, then the future is here. You’re at the right place if you’ve been wondering whether it’s worth putting the resources into video marketing for your business. Do you have enough resources to create videos? Are enough people in your target audience interested in videos? And in the end, will it be worth the effort? In short: yes.
In this article, we will cover some of the key video marketing statistics for 2023 that will help prove to you that the right time for video marketing is now. Use these quick and easy video marketing statistics to help guide your 2023 video marketing strategy.
Before we get started with the video marketing stats, let’s quickly go through the types of video content that you can create to market your business. One of the main video content types businesses use is explainer videos, which are short videos explaining products or services. Other popular types of video content include vlogs (video blogs), video interviews, video presentations, tutorials, product reviews, product demos, recordings of live streams, video testimonials, and video ads.
Now, let’s get to the data on video marketing and what it has to say. We’ve compiled the latest statistics to make sure that your video marketing strategy for 2023 is on point.
1. Internet Users Everywhere Enjoy Video Content
More and more, video content is being watched.
In 2020, the number of people watching digital videos in the US reached 244.4 million—hitting year-over-year growth levels that far exceed what experts had predicted (Business Insider, 2020).
Though analysts say this growth surge was largely driven by the youngest and oldest age groups, the latest video marketing statistics still show that the majority of viewers who watch digital videos are young adults. In fact, more than nine out of ten US consumers between 12 and 44 years of age are digital viewers.
A deeper look shows that a whopping 97.8% of US internet users aged between 18 and 24 consider themselves to be digital video viewers. This is followed by users aged 12 to 17, of which 96.2% watch videos online.
The age range with the lowest digital video viewership is 65 years and above. Only 63.8% of people in this age group view videos on the internet.
2. Demand for Video Content is Increasing
The preference for video content is not just limited to entertainment purposes—it also extends to brands. A recent study shows that as many as 91% of consumers want to see more online video content from brands (Wyzowl, 2023).
With the increasing demand for video, many industry influencers can be seen to be proactively producing different types of video content in order to meet this rising need. The survey also shows that the percentage of people demanding online videos from brands has been growing over the past few years and is currently at its highest. For instance, in 2018, 85% of people wanted to see more online videos.
Experts say that demand for video content among brands is growing because people are more likely to pay attention to it. In comparison, there is a higher tendency for consumers to skip parts of audio and written content. So if you’re hoping to get more attention on your brand, video is definitely a good way to go.
3. Video as a Powerful Marketing Tool
Given the increase in demand for videos, it’s hardly a surprise that more and more businesses are starting to include video content as part of their digital marketing strategy. After all, marketing professionals must not miss out on the opportunities that video content can provide them.
The latest video marketing statistics show that 86% of marketing professionals use video as a marketing tool (Wyzowl, 2021).
These marketing professionals trust video's potential to grow their business. The majority of them (78%) say videos have directly helped to increase sales, while 86% also say that videos have increased traffic to their website.
4. Consumers Love Seeing Videos on Social Media
Users are seeing increasing amounts of videos across all platforms. Whether it’s on blogs, Instagram videos, TikTok, or YouTube, videos have become part and parcel of the online experience—especially on social media.
But not all video content is made equal, and as a brand owner, you’re going to want to pay attention to this video marketing statistic. According to a recent survey, short-form videos are found to be the most engaging. As many as two-thirds of consumers (66%) say they pay the most attention to short-form videos—2.5 times more than long-form videos (Sprout Social, 2022).
That said, what qualifies as “short-form” still depends on the social media platform you're publishing on and the type of video. For instance, experts say Instagram feed videos should run for 26 seconds, while Facebook videos that are between two and five minutes produce higher engagement.
5. Video Marketing = Profit
Whether or not you should invest in video marketing comes down to the return on investment (ROI). Here’s a look at some hard numbers: 92% of video marketers in 2023 say video gives them a good ROI—a record high (Wyzowl, 2023). Just five years ago, 78% of video marketers felt the same way about videos, a difference of 14 percentage points.
Broadly speaking, companies use video marketing to increase their sales, build brand awareness and trust to keep their current customers informed, and reach out to potential customers. The platforms most commonly used by marketers for posting social media marketing videos and video ads are Instagram, YouTube, and Facebook.
One reason video marketing is favored as a marketing tool is because of its potential to explain everything in a format users prefer—visually. Tutorials or explainer videos are especially popular among end-users.
6. Video Marketing as a Lead Generation Channel
According to OptinMonster, video marketers get 66% more qualified leads per year (OptinMonster, 2019). OptinMonster also concluded that video marketers achieve a 54% increase in brand awareness. Additionally, 93% of marketers say they’ve landed a new customer thanks to a video on social media. This increased quality of leads can be attributed to the quality of education that video brings. Not only do customers gain trust in companies, but they’re also able to educate themselves about the company or its products through interactive visuals. These stats show that there's no need to second-guess the benefits of video marketing for business. As for video marketing in 2023, it will be a great way to grow your network and customer base, not just now, but also in the future.
7. Video Marketing on Social Media Channels
Now that we’ve established that video is an extremely effective marketing tool and that consumers enjoy seeing videos from brands on social media, the next question is: Which platforms are marketers focusing their video marketing efforts on?
According to the latest video marketing statistics, YouTube is the most popular social media platform for marketers to publish videos on. Nearly nine out of ten (89%) marketers say they plan to do video marketing on YouTube (Wyzowl, 2021).
This is followed by the king of social media, Facebook. Seven in ten marketers plan to do video marketing on the platform. Having launched video features only as recently as 2017, LinkedIn is a relatively new player as a video marketing platform. But, already, it has surpassed other platforms like Instagram and Twitter to become the third-most-popular social media platform for video marketing. Just under two-thirds (63%) of marketers say they will be using video on LinkedIn.
8. Power of Video in Purchasing Decisions
Not only do videos keep users more engaged, but they also play a rather important role in their decision-making process. A survey conducted by Wyzowl shows that nearly eight out of every ten users have purchased a piece of software or app after having watched the brand’s video (Wyzowl, 2018).
And the power of video marketing is actually felt throughout the entire buyer’s journey. The same study shows that most people (96% of them, to be exact) turn to videos to learn more about a particular product and/or service.
Plus, if even internet giants like Google are describing videos as “indispensable”, you know you’re going down the right track by including video in your digital marketing strategy. According to Google, video influences internet users by acting as a shopping list they use to be reminded of things they need to purchase, arming users with more information and confidence to carry out purchases, and as a source of product reviews.
9. Growing Popularity of Video
If the above video marketing statistics have yet to convince you of its benefits, how’s this to sway you—the time people spend watching videos online is increasing.
In 2019, users spent a weekly average of six hours and 48 minutes watching online videos—a 59% increase from just three years prior in 2016 (Limelight, 2019).
And all signs currently suggest that this will continue to increase. Already, audiences under the age of 36 are spending more time watching videos online than on traditional broadcast mediums such as televisions.
In terms of daily usage, the current global average of video consumption per day stands at 84 minutes, led by China and Sweden, whose populations spent 103 minutes per day in 2019 watching online videos.
10. Video’s Role in Internet Traffic
And given the growing popularity of video, it should come as no surprise that its market share in internet traffic has been increasing.
It’s estimated that in 2022, 82% of the global internet traffic came from video streaming and downloads (Cisco, 2019). That’s an 88% increase in traffic share from 72.3% in 2017.
To further put things into perspective, 56 exabytes (equivalent to one billion gigabytes) of internet video was consumed on a monthly basis in 2017. This figure more than quadrupled to 240 exabytes per month in 2022.
It’s not just the consumption of uploaded videos that has risen. The same study by Cisco shows that traffic from live internet videos grew 15-fold in the five-year period from 2017 to 2022 and accounted for 17% of the total internet video traffic share in 2022—which is definitely a video marketing statistic to consider especially if you’re considering using Instagram or Facebook live videos to market your ecommerce business!
That’s what you need to know about video marketing statistics for 2023. We’re hoping this has helped shed some light on how video marketing can be useful for your ecommerce business!
And if you’re thinking of investing in video marketing, you may be glad to know that you don’t even need a massive budget or external resources to help you create videos. Smaller companies aren’t at a disadvantage when it comes to video production. A noteworthy example is the success story of the Dollar Shave Club, which grew from a viral video into a billion-dollar brand. This just goes to show that you don’t need a whole cast and crew to start your video marketing efforts today.
If you have experience with video marketing and would like to share your thoughts or have any questions at all, let us know in the comment section below!
Summary: Video Marketing Statistics
Here’s a summary of the video marketing statistics for 2023:
- There are 244.4 million digital video viewers in the US.
- 91% of consumers want to see more online video content from brands.
- 86% of marketing professionals use video as a marketing tool.
- 66% of consumers find short-form videos to be the most engaging type of content on social media.
- 92% of video marketers say they’ve gotten a good ROI from video marketing.
- Video marketers get 66% more qualified leads per year. This increased quality of leads could be because of the quality of education that video content brings.
- YouTube is the most popular video-sharing platform for marketers, with 89% of them planning on using it. Facebook is second with 70%.
- Eight out of ten people have purchased a piece of software or app after watching a brand’s video.
- Internet users spend six hours and 48 minutes per week watching videos online.
- In 2022, 82% of the global internet traffic came from video streaming and downloads.