November 27, 2013
With 2013 drawing to a close, it’s time to take a look at how video performed this year. If we look at video testimonial statistics, and hear from consumers and other businesses, we’ll gain valuable insight into how video will do in the future.
Before we dive into video testimonial statistics for 2013, let’s take a look back at what was predicted in 2012. That way we can compare the outlooks vs. how things shaped up over the course of 2013.
The outlook in 2012
- It was estimated that 54% of companies in North America were planning to invest in video content for their website
- Video had a 41% higher click-through rate than plain-text results
- According to Direct Marketing News, 51% of online users between the ages of 18-44 would look up a new product or brand if they saw it mentioned in an online video.
2012 showed video performing strongly, especially compared to traditional marking efforts. More and more, companies are looking to invest in video as part of their marketing strategy because of high click-through rates, and the way video resonates with a variety of age groups.
Now that we’re approaching the end of 2013, it’s time to check in and see if video delivered as a powerful marketing tool, and how it’s being used.
What we saw in 2013
Video continued to be a major component in marketing campaigns. According to Social Media Examiner, up to 76% of brands reported making video a priority over social media and blogging. Depending on the platform, many businesses have already established their presence on social media. Facebook and Twitter are mainstream enough that many brands have felt comfortable playing with a variety of content, finding what their audience responded to.
It’s unsurprising that video turned out to be king of content.
On Facebook, video is the most widely shared content. Over on Twitter, two-thirds of the Twitterverse revealed that they believe it’s worth watching video Tweeted from the brands they follow. Shareability has become a buzz word surrounding content, and for good reason. If content isn’t shareable, it’s not getting out to consumers, or making a lasting marketing impact. As we saw on Facebook and Twitter, video’s shareability was a strength, putting it ahead of other content.
Shareability aside, video has prevailed as a marketing tool for a variety of other reasons, including positive response from consumers toward video testimonials. Video testimonials have promoted trust in brands, first in text format, and now video.
Part of the success of video testimonials has to do with providing a space for genuine, honest dialogue between consumers, which isn’t possible with other marketing efforts. On top of that, a Comscore study found that a website visitor will stay an average of two minutes longer on a site after they watch a video. This can have a huge impact, depending on video testimonial placement. It can mean the difference between a consumer clicking away, or staying and making a purchase.
What will we see in 2014?
Based on what we’ve witnessed so far, video is expected to continue to pack a punch. Rising viewership aside, the ease of incorporating video means that businesses can use it to boost marketing strategies.
The versatility of video, ranging from testimonials to user generated video campaigns, ensures that creativity will continue to be a driving force. Marketing can be a costly nightmare, but successful campaigns can be run without much cost, with careful planning and a loyal following. By listening to consumers and how they’re spending time online, businesses can make a little video content go a long way.
Tell us about your marketing strategy for 2014. What part will video play? Drop us a comment and let us know!