What is Causing People to Purchase Marketing Videos?
Video marketing has certainly taken over the past couple of years and appears to be growing right in front of our eyes. If you’ve heard things like, “Video marketing is the future,” or “You can’t run campaigns without videos,” You’re not alone! As a business owner, you’ve probably heard how important video marketing is for your brand, perhaps you’ve seen the results first hand? But what is causing people to purchase marketing videos at such alarming speeds and with such rising intensity?
Maybe it’s the promise of increased search engine rankings that we’ve heard from Google in recent months? Perhaps it’s the growing popularity of video online, and the fact that internet users have gone from watching about 6:48 hours of video online per week in 2019 to more than 100 minutes of video per day in 2021?
Certainly online video consumption has increased over the past few years, and it would appear that consumers are expect to continue down a similar trajectory of increased video consumption over the coming years. Is this what is causing people to purchase marketing videos?
As we dive into the many different reasons that brands are shifting much of their marketing efforts from simple text and static image messages to advanced videography and intricate commercial advertising campaigns, it’s the statistics surrounding video marketing and the amazing benefits to the use of video that stand out the most.
Brands Know Video is the Number 1 Chosen Medium of Consumers
If you’re actually wondering what is causing people to purchase marketing videos, it’s mostly due to the fact that brands are aware of the fact that consumers want to see video content. More than 85% of consumers watch video online from a smartphone, computer, or tablet. Not only are more consumers than ever before watching videos, but they’re spending more time than ever online engaging in video content.
Simple Economics of Supply and Demand
Some might say that what is causing people to purchase marketing videos is really a matter of simple economics 101, or supply and demand. With demand for video content increasing on the consumer end, businesses are looking to increase the supply of video content that is presented to their audiences. Thus the more consumers seek video, the more brands seek to deliver. Or in other words, brands are purchasing marketing videos because there is higher demand for them on the consumer end.
A HubSpot study conducted in 2018 found that 54% of consumers wanted to see more video content from the brands they loved. It’s likely that consumers are interested in videos because they help them to visualize the products and services they’re most interested in, and actually guide purchase decisions. In fact, 72% of consumers said that they would rather learn about a product or service through video rather than written instructions or static text images.
According to another study, 84% of consumers admit that they’ve been convinced to purchase a product or service after they see a branded video representing the item and, since viewers retain 95% of the messaging they see in a video compared to just 10% of what they read, brands can guarantee greater connections among consumers when they use video over text.
Businesses Want Conversions & Videos Deliver
Business owners have always been interested in growth. How fast can we grow our audience? How fast can we grow our brand? How fast can we grow past the competition? Many business owners are finding out that video is like a one-way ticket to success! Businesses want conversions, and video just happens to be the fastest, easiest, most efficient way to get what the business wants.
So, what is causing people to purchase marketing videos? According to many business owners, marketing videos are being added to the everyday marketing campaigns because they:
- Increase click through rates.
- Increase time spent reading an email.
- Increase sharing and forwarding of content.
- Increase conversion rates.
- Increase the dollars generated from the campaign.
According to marketers, videos result in 66% more qualified leads per year compared to campaigns that do not utilize video. Additionally, 93% of marketers stat that they’ve generated new customer business on social media thanks to marketing videos.
Search Engines Calling Video “Indispensable”
If doing what the consumer wants isn’t what is causing people to purchase marketing videos, and it’s not the brand recognizing that videos result in higher conversions, perhaps people are listing to what search engine giants like Google are saying? Internet moguls, particularly representatives of Google, have gone as far as to state that more than 55% of consumers use online videos for shopping research (and that was in 2018). Additionally, Google went on to state, “For more and more shoppers, video is becoming indispensable when they’re ready to buy.”
Globally, 82% of all internet traffic is video streaming and downloads, up 88% from just a few years ago. There’s absolutely no question whether or not video is important, and there’s little question as to how important, so what is causing people to purchase marketing videos? If it’s not all of the powerful statistics previously listed, perhaps it’s:
- Video production is time consuming and requires great skill.
- Hiring a professional videographer can cut back on upfront costs associated with video production.
- A professional videographer can deliver quality marketing videos, fast!
- Hiring a professional allows the business owner to focus their resources on their business.
Either way you look at it, people are purchasing marketing videos because they know they work, they know they’re important and powerful, and they can get top quality videos produced quickly and easily. What is causing you to consider purchasing marketing videos or, if you’re a business owner that is already using video in your marketing campaigns, what caused you to purchase a marketing video?