Video marketing has continued to go from strength to strength in 2014. In a recent study 95% of B2B businesses stated that video marketing was both valuable and important. The consumption of video is also on the rise. By 2018 it is predicted that 79% of all internet traffic will be video. A significant portion of that growth is coming from mobile. In fact, mobile now makes up nearly 40% of mobile watch time on YouTube and 65% on Facebook!
Another interesting development this year has been the rise of Facebook as a serious competitor to YouTube. Facebook recently stated that the site receives 1 billion views a day of their video content.
Take a closer look at these statistics, and others, in more detail to help to paint a picture of the video marketing industry in 2014.
81 % of companies are producing video content for their website
Video is no longer a niche form of marketing. Online video is now well established as a central part of most businesses marketing strategy. This is being driven by the shift in content consumption patterns by consumers towards video. Technological advancements have also made it easier to both produce and deliver video content.
(2014 Online Video Production Survey and Industry Trends Report)
More than a third of marketers (35%) are planning on using short form video as part of their marketing
Short form video, such as vine, is a relatively new addition to marketers toolbox. Despite its novelty it has quickly become a favorite with many brands.
(2014 Social Media Marketing Industry Report)
73% marketers plan to increase their use of original videos
Use of video for content marketing has increased significantly, but this trend is in no danger of plateauing. We can expect to see more spending on video marketing in 2015.
(2014 Social Media Marketing Industry Report)
Globally, IP video traffic will be 79 percent of all consumer Internet traffic in 2018, up from 66 percent in 2013
Video is becoming an increasingly popular way to consume content on the internet. Cheaper, faster and more accessible internet connections are making it ever more viable for consumers to watch video. This trend is only going to continue in the future. Thanks to the ease and lowered cost of producing video, the volume which is being produced is massive.
It is predicted it will take an individual over 5 million years to watch the amount of video that will cross global IP networks each month in 2018
The popularity of online video as a marketing strategy creates both opportunities and challenges. Increased competition means that video marketers are going to need to raise their game if they are going to stand out. Consumers are simply going to ignore content which fails to grab attention and provide value.
(Cisco Visual Networking Index: Forecast and Methodology, 2013-2018)
65% of video views on Facebook are from mobile devices
One of the most important considerations for marketers using video is the move towards using mobile devices to consume video. On Facebook the majority of users are already watching video on mobile devices. For YouTube the figure is just under half but this number is growing.
48% of B2B buyers use their smartphone to watch video
And it is not just for social video which is performing well on mobile. Branded video content is also becoming much more important for B2B marketers as well. Thinking about how prospective customers will consume the content on the smaller screen should be something that all B2B video marketers consider.
68% of respondents say their online video budgets will increase in 2014
Perhaps one of the best indicators that video marketing is proving real ROI is that businesses are voting with their wallets. Businesses are choosing to spend more money on video as part of their marketing budgets.
72% of respondents use YouTube for their marketing
Video watching on Facebook may be on the rise, but YouTube is still proving to be a firm favorite with marketers for video marketing. With more than one billion unique visitors to YouTube a month, that is perhaps no surprise.
91.975% of most frequent video rich snippet domains is YouTube
Perhaps not surprisingly Google has helped boost YouTube when it made changes to the way it displayed rich snippets this year. Research appears to show Google overwhelmingly favors YouTube results for the rich snippets that it shows.
(Wistia: Where did my snippets go?)
Over 70% of respondents claim that video performs better than other content for producing conversions
Most importantly video marketing is delivering results for business where it counts: sales and leads. More than two thirds of B2B businesses surveyed say that video is outperforming other forms of content. Another great reason why all businesses, whether they are B2C or B2B, should be investing in video marketing.
(B2B Video Marketing Benchmark Report)