How Companies are Video Marketing in 2024
Are you a business or brand that is interested in video marketing but unsure where to start? According to recent studies, 17% of marketers who don’t use video say it’s because they don’t know where to start with video, so they don’t use it all. Yet the majority of businesses have realized that video marketing is an important trend that they should follow and actively engage in. If you’re wondering how companies are video marketing in 2024, and what you can do for your own business to get on board, checkout these statistics and trends that we’re noticing as we end 2022 and roll into a new year.
Despite the few businesses that have yet to include video marketing in their day-to-day campaigns, the majority of businesses not only find video to be a top priority but they also intend to increase the use of video in their daily marketing strategies in 2024. How are these companies planning to use video marketing in 2024? Let’s take a look.
Video to Increase Website Traffic & Organic Rankings
The use of video to increase website traffic and drive higher organic rankings is one of many ways companies are video marketing. In fact, the use of video in marketing campaigns has the power to increase website traffic by as much as 41% in terms of click-through rate compared to plain text ads. Additionally, 65% of executives state that they visit a website after they see a video related to a brand. Since 82% of all consumer traffic is video, a website that includes video has a higher chance of that piece of the pie.
According to Google, websites that include video are up to 33% more likely to rank on the first page of the SERPs. According to 87% of marketers, video has increased traffic to their website. One study found that it is possible to generate 157% more organic traffic using video over plain text alone.
Video to Increase Sales Revenue
If you’re wondering how companies are video marketing in 2024, consider the fact that many brands are using video to increase their sales revenue. In fact, 80% of marketers state that video directly helped them to increase sales and 97% stated that an explainer video, specifically, helped them educate their audience. Consumers look to brands for explainer videos and 73% state that they are more likely to purchase after they see an explainer video.
According to a study by Social Sheperd, 92% of brands got a new customer as a result of posting a video on social media. Additionally, 84% of consumers state that they were convinced to make a purchase after they saw a branded video. Marketers are using video to increase revenue 49% faster than marketers that don’t use video.
Creating Brand Awareness & Niche Authority
Another way companies are using video marketing to their advantage in 2024 is in building audience awareness for their brand and creating niche authority. By educating new users, fielding questions and concerns on products, and explaining complex topics relative to their brand these businesses are growing their niche authority. Consumers admit that video ads are the #1 way that they discover brands that they later purchase from.
While 94% of marketers state that video has helped them to increase consumer understanding of their products or services and increase their audience awareness, they’re not wrong! In fact, 2/3 of consumers say that they get purchase ideas directly from the branded videos they watch. One of the ways that brands benefit from video is in the fact that consumers retain 95% of a video message as compared to just 10% of a text based message.
Video as a Tool for Increasing Engagement & Conversions
If you’re still looking to understand how companies are video marketing in 2024, consider the many brands that use video as a tool for increasing engagement and conversions. In fact, many brands are using live stream video to maximize the increase in engagement that they can achieve. Accordingly, 12% of Facebook video represents the live stream audience but it accounts for double the engagement compared to a pre-recorded video. Video posts, in general, have the highest organic engagement on Facebook.
On Instagram, video posts get twice the engagement when compared to other posts and on Twitter, Tweets that include videos get 10x more engagement than those without. Marketers and brands that incorporate video into both their on-site, landing page and social media marketing strategies see increased engagement from the consumers, prospects, and customers that are so important to them.
When videos are used on landing pages, brands have benefitted from as much as 80% higher conversions. In fact, videos increase all kinds of conversions for marketers at a rate of about 66% more qualified leads per year. According to 83% of marketers, video helps them with lead generation with promotional videos, brand storytelling videos, and product demonstrations accounting for the most common types of videos used by marketers.
As you can see, figuring out how companies are video marketing in 2024 is a matter of mixed success but there is a leading theme here of success with video. Brands, large and small, that are using video in their day-to-day marketing and advertising campaigns are seeing great success throughout the process. Are you ready to get started with video for 2024? Give Beverly Boy Productions a call!