If video testimonials is the future of marketing, then the future has arrived. If you’ve been debating whether or not it’s worth investing in video testimonial marketing for your business, you’ve come to the right spot.
In this blog post, we’ll go through some of the most important video testimonial marketing statistics that will help you see why now is the best time to start using video marketing.
Let’s look at some proven marketing data from the Video SEO Industry and see what it has to suggest. We’ve gathered the most recent statistics to ensure that your video marketing campaign is on track.
1. Internet Users Enjoy Video Content Everywhere
Today, video content is being viewed in greater numbers than ever before. In the United States, 85 percent of all internet users viewed online video content every month on any of their computers (Statista, 2018).
Moreover, adult males spend 40% more time viewing videos on the internet than females, with 25-34-year-olds watching the most online videos.
The number of times consumers in the United States spend viewing video content on their smartphones weekly appears to be increasing over time.
Surprisingly, Saudi Arabia and Turkey came in first and second, respectively, with 95 percent of their internet users viewing online video content on any platform at any given time.
2. Increasing Demand For Video Content
People prefer video content for more reasons than just entertainment. Brands will benefit from video.
Besides, with the growing demand for video, many industry influencers have been seen creating various types of video content to meet this demand.
According to studies, 54% of customers want to see more video content from a brand or company they want (HubSpot, 2018).
Sections of audio and textual material are more likely to be skipped. A video testimonial is a good way for advertisers to get some of the audience’s attention.
3. Video Testimonial as a Strong Marketing Tool
In 2018, video marketing success reached new heights. It’s not surprising that more businesses are looking to incorporate video content into their digital marketing strategy than in the past.
Marketing professionals must be cautious not to overlook the advantages that video content can provide.
According to the 2019 report, video testimonials are used by 87 percent of marketing professionals (Wyzowl, 2019).
However, it’s no surprise that so many marketing professionals claim to use video testimonial as a marketing tool, given the growing demand for video content. Marketing professionals believe that video content has the potential to increase user engagement and brand trust.
4. Customers Love Watching Videos on Social Media
On every site, users are progressively seeing videos. They expect more video material, whether it’s on blogs, Instagram videos, or YouTube. Customers prefer videos over other types of content from brands on social media (Animoto, 2018).
Even so, according to the 2018 State of Social Video Marketing Trends survey, 73 percent of customers say that a brand’s social media activity affected their buying decision. This statistic alone demonstrates how videos are becoming increasingly common over time.
Nevertheless, with the video having such a powerful impact on customer decisions, it’s no wonder that Instagram is on track to become the fastest-growing platform for driving transactions via video content.
5. Video Marketing Generates Profit
It’s just about the return on investment ( ROI). Looking at the figures, 88 percent of video marketers are happy with the return on their social media video marketing activities (Animoto, 2018).
Furthermore, according to the same survey, 80 percent of advertisers are pleased with the return-on-investment of video advertising they have shared on social media.
Companies use video marketing to increase revenue, create brand recognition and confidence, keep current customers updated, and reach out to potential customers, among other things.
Instagram, YouTube, and Facebook are the most common sites for advertisers to post social media marketing videos and video advertising.
The ability to illustrate anything in a way that customers like — the visual format — is one of the reasons why video marketing is favored as a marketing tool. End users are particularly fond of tutorials or explainer images.
6. Video Testimonials Marketing as a Lead Generation Channel
Video testimonial marketers get 66 percent more eligible leads each year, according to Optinmonster (Optinmonster, 2019).
On the other hand, video marketers achieve a 54 percent boost in brand recognition, according to Optinmonster. Furthermore, 93 percent of marketers claim to have gained a new customer after using social media videos.
This improved lead quality can be due to the educational value that video provides. Customers can only gain interest in businesses, but they can also learn more about them or their products through immersive visuals.
These figures indicate that there’s no reason to doubt the value of video testimonials in marketing for businesses. Video testimonial marketing would be a perfect way to expand the network and customer base in 2021, not only now but also in the future.
7. Video Testimonials on Social Media Channels
Now that we’ve proven that customer testimonial video is a highly successful marketing tool and that customers enjoy watching brand videos on social media, the next question is: where are marketers concentrating their video marketing efforts?
YouTube is the most popular social media site for advertisers to publish videos, as per the most recent video marketing statistics.
Nearly nine out of ten (88%) marketers intend to use YouTube for video marketing (Wyzowl, 2020).
The king of social media, Facebook, comes in second, with more than three-quarters (76%) of marketers intending to use the site for video testimonial marketing.
LinkedIn is a relatively new player in the video marketing room, having only introduced video features in 2017.
However, it has already surpassed other sites such as Instagram and Twitter as the third most successful social media site for video marketing.
In 2020, two-thirds of advertisers (66%) state they will use video on LinkedIn.
8. Video Testimonials Power in Purchasing Decisions
Video testimonials not only keep users interested but also play a significant role in their decision-making process. According to a Wyzowl study, nearly eight out of every ten consumers have purchased software or an app after watching the brand’s video testimonial (Wyzowl, 2018).
More so, the impact of video marketing can be felt during the buyer’s journey: according to the same survey, the vast majority of people (96 percent) use videos to learn more about a product or service.
9. Growing Popularity of Customer Testimonial Video
If the benefits of video marketing have not yet persuaded you, consider this: the amount of time people spend viewing videos online is growing.
Clients went through around seven days, six hours, and 48 minutes watching on the web recordings in 2018, up to 59 percent more from just three years back in 2018.
In addition to that, all indications show that this trend will continue. Audiences under the age of 36 are now spending more time viewing videos on the internet than on conventional media mediums like television.
Read More: 8 Super Effective Testimonial Video Examples
10. Role of Video Testimonials In Bringing Internet Traffic
It should come as no surprise that video testimonial’s market share in internet traffic will expand, considering its increasing popularity.
Video streaming and downloads are expected to account for 82 percent of global internet traffic by 2022. (Cisco, 2019). From 72.3 percent in 2017, this is an improvement of 88 percent in traffic share.
To put this in perspective, in 2017, 56 exabytes of internet video (equivalent to one billion gigabytes) were consumed every month. By 2022, this number would have quadrupled to 240 exabytes per month.
It’s not just that the consumption of online videos is expected to rise. According to the same Cisco report, traffic from live internet videos will rise 15-fold over the five years from 2017 to 2022, accounting for 17% of total internet video traffic share by 2022.
It is a vital testimonial video marketing statistic to consider, particularly if you want to use Instagram or Facebook live videos to market your dropshipping company!
That’s all there is to know about video testimonial marketing statistics. We hope this article has shed some light on how a video testimonials can be beneficial in e-commerce marketing.
If you’re considering investing in video marketing, you’ll be happy to know that you don’t need a large budget or outside funding to start, as Vidmonials is a platform available that could be ideal for you in this regard.
Vidmonials could save your time, effort, and most importantly, money with its novel remote video testimonial management system. You can learn more about the platform here.