Video Marketing Usage Statistics
➢ Video marketing data shows that in 2024, a record-breaking 91% of businesses use video as a marketing strategy, a significant increase in recent years. (Source: Wyzowl's video marketing study.)
➢ The utilization as a marketing tool continues to be a high priority for marketers, with an unprecedented 88% of video marketers recognizing the value of video as an essential part of their overall marketing strategy.
This is a significant increase from previous years and indicates that video has become vital to modern marketing efforts.
Marketers understand that video is a powerful medium for reaching and engaging with their target audience and are increasingly leveraging it to achieve their business objectives.
➢ According to Wistia's The State of Video report in 2024, many businesses prioritize using video primarily to generate leads, increase sales, and educate consumers about their products to encourage adoption.
➢ While 17% use video for brand awareness and PR, and 8% for social media engagement or followers, 5% don't have a video strategy.
➢ Wistia's report also shows that in 2024, a significant majority of businesses (78%) plan to increase their video production, reflecting a strong trend towards utilizing video as a key component of marketing strategies.
➢ While many are aiming to expand their video outputs, the approach to resource allocation is more conservative; 57% of businesses plan to increase resources dedicated to video, while a notable 38% intend to keep their investment levels consistent with the previous year.
➢ When it comes to the frequency of video production in 2023:
- 36% produced videos monthly.
- 29% produced videos weekly.
- 28% made a few videos this year.
- 6% produced videos daily.
- 1% did not make any new videos.
➢ As for company experience, the spread is quite broad.
| Years of Experience | 2-5 Years | 6-10 Years | Only One Year | Over 10 Years | Have Not Made Videos |
|---|---|---|---|---|---|
| Percentage of Respondents | 40% | 22% | 20% | 17% | 1% |
➢ With a notable portion of companies (40%) having 2-5 years of experience in video production, suggesting a relatively recent but rapidly growing adoption of video marketing strategies.
Why Don't Some Businesses Use Video Marketing?
Creating video content can be a powerful way to connect with your audience, but it can also be a significant challenge for many businesses.
From lack of time and resources to concerns about ROI, there are various reasons why some businesses may not be focusing on video content marketing.
According to a 2024 survey on video marketing,
➢ 33% of people cited lack of time as a barrier to creating video content,
➢ 15% didn't know where to start,
➢ 20% felt that video was too expensive,
➢ 10% didn't see the need for video,
➢ And 12% were unsure of the return on investment.
However, no matter what they say, in 2024, 68% of businesses that currently do not have a video marketing strategy in place plan to start using online video as a marketing tool.
Newcomers to the Video Marketing Scene
Wyzowl's survey shows that in 2022, 17% of video marketers began using video for the first time as a marketing tool.
When asked about their reasons for starting to use video:
➢ 41% said it had become easier to create videos in-house,
➢ 39% said it had become easier to convince others in the business of the value of video,
➢ 34% said it had become quicker and less time-consuming to create videos,
➢ 30% said the video had become more affordable than it used to be,
➢ 22% said they had become clearer on the ROI of video,
➢ 20% said this was at least partly because new video content was made necessary by new challenges.
Video Marketing Types Statistics
➢ Statista's report on leading types of video used in marketing worldwide in 2023 showed that most videos were testimonial videos, with 39%.
But that's not all. A significant number of marketers produced various types of videos.
➢ Closely following were explainer videos (38%), often used to simplify complex concepts or products.
➢ Social media videos and presentation videos tied at 34%, showing the significant role that engaging and informative videos play on social media platforms and in business settings.
➢ Product demo videos were utilized by 32% of respondents, emphasizing the importance of showcasing products in action.
➢ Sales, teaser, and video ad types all captured 30%, indicating a diverse approach to customer engagement and promotional strategies.
➢ Customer service videos (28%) highlight the focus on customer experience, while video graphics (25%) and onboarding videos (both employee and customer, at 25% and 22%, respectively) suggest that videos are increasingly essential for internal communication and training.
➢ Staff training (22%) and app demo videos (22%) show the growing importance of visual aids in education and app promotion.
Overall, the data reflects the wide variety of video types marketers leverage to address different needs, from education to promotion.
Video Marketing Budget & Cost Statistics
Video marketing comes with a price tag.
➢ A Statista study about video marketing budget shows that 25% of the marketing professionals indicated that they allocated between one thousand and five thousand US dollars for an average video.
➢ Meanwhile, 4% of those surveyed reported spending over 20 thousand dollars on an average video.
In Wyzowl's same survey mentioned before, it is stated that:
➢ The allocation of marketing budgets towards video content shows significant variation, with most marketers allocating 21-30% of their overall budget to video.
➢ It's noted that 60% of marketers spend 11-50% of their budget on video content, indicating diverse investment levels.
➢ A substantial 85% of video marketers intend to either maintain or increase their investment in video content in 2024.
➢ Currently, 69% of marketers have invested in video ads, while the remaining 31% have focused on achieving organic reach without additional spending.
➢ Regarding the financial trends in video marketing, 49% of marketers observe increasing costs, contrasting with 29% who report a decrease in expenses.
➢ Meanwhile, 21% of marketers believe the costs remain relatively stable.
Video Marketing Success & ROI Statistics
Everyone has a different approach when it comes to the definition of success. It's the same for the definition of success in video marketing.
Now, let's see what success looks like for video marketers.
According to Wyzowl's same study mentioned earlier, 90% of marketers report that video marketing has yielded a positive return on investment (ROI).
➢ 60% assess ROI based on video engagement, such as likes, shares, and reposts.
➢ 42% measure ROI through customer engagement and retention.
➢ 40% use video views as a metric for ROI.
➢ 32% evaluate ROI through direct impact on sales.
➢ 28% track ROI by measuring leads and clicks generated.
➢ Brand awareness and PR are metrics, according to 39% of video marketers, by which they assess the effectiveness of their video content.
The Wyzowl study also shows the specific achievements attributed to video marketing:
➢ 88% of video marketers reported that video marketing has helped them increase user understanding of their product or service.
➢ Additionally, 90% said video marketing has helped them increase brand awareness.
➢ 86% said video marketing has helped them increase traffic,
➢ 87% said it helped them generate leads.
➢ 87% said it helped them increase sales, and 82% reported it increased dwell time on their website.
➢ 63% said it helped them reduce support volume.
➢ When it comes to video length, most marketers find shorter videos more effective.
According to 39% of marketers, videos lasting 30-60 seconds yield the best results, followed by 1-2 minute videos preferred by 28%, under 30 seconds by 18%, 2-3 minutes by 10%, and videos longer than three minutes by only 5%.
Video Marketing Channels Statistics
Now that it's a fact that businesses love video marketing let's look at their favorite video marketing channel!
➢ As Statista states in its study about effective video marketing channels, during late 2023, 78% of marketing professionals globally identified YouTube as an effective channel for video marketing.
➢ This was followed by Facebook, which 71% of respondents deemed effective, and Instagram, which was considered effective by 64% of those surveyed.
➢ In another Statista survey conducted among global marketing specialists in late 2023, 90% reported using YouTube for video marketing.
➢ Again, Facebook was the second most frequently used platform, with 86% of respondents utilizing it.
➢ Meanwhile, TikTok was employed by 69% of the marketers surveyed.
According to Wyzowl, in 2024:
➢ YouTube is the most utilized video marketing platform, with 90% of video marketers favoring it.
➢ This is followed by Facebook at 86%, Instagram at 79%, and LinkedIn at 76%.
➢ The platforms used the least for video marketing are virtual reality and 360 videos, each at 56%, and Snapchat video at 57%.
➢ YouTube continues to be the most effective platform for video marketers, with 78% reporting success.
➢ Facebook video ranks next at 71%, followed by Instagram video at 64%, webinars at 61%, and both interactive video and X video at 60%.
➢ Virtual reality, 360 video, and TikTok are considered the least effective, with effectiveness ratings of 49%, 51%, and 52%, respectively.
➢ Wistia's State of Report in 2024 shows the best time to post videos on social media platforms as below:
- Instagram: Monday at 9 AM PST
- Facebook: Monday at 10 AM PST.
- LinkedIn: Monday at 1 PM. PST.
- YouTube: Saturday at 7 PM. PST.
- X: Friday at 9 AM PST.
Social Video Advertising Statistics
Video plays an important role in social advertising, and here are the key social video advertising statistics you need to know:
➢ Statista's study about YouTube's global advertising revenues shows that in 2023, YouTube's worldwide advertising revenues reached about 31.51 billion US dollars.
➢ It increased nearly eight percent from 29.2 billion US dollars in the previous fiscal year.
➢ Another Statista study related to social video advertising revenue states in 2022, TikTok's estimated share of the global video advertising market was seven percent, with projections suggesting it would increase to 14 percent by 2027.
➢ TikTok Douyin, the Chinese version of the app, held a 15% market share in 2022, anticipated to rise to 23 percent by 2027.
➢ Both apps will make up 37% of the global market by 2027.
➢ In 2022, TikTok earned four billion US dollars from advertising revenue. This amount is projected to double by the end of 2024 and nearly quadruple by 2026. (Source: Statista study on TikTok ad revenue.)
General Video Marketing Statistics
➢ As Wistia reports in the State of Video study, most companies (62%) rely on individuals within their organization for video production, while nearly half have a designated in-house video production team (46%).
➢ Freelancers and external video production agencies are also integral, used by 21% and 16% of companies, respectively.
➢ As for tools, the most commonly used are screen and/or webcam recorders (57%), indicating a preference for simplicity and accessibility in video production.
➢ More comprehensive setups involving cameras, lights, and microphones are utilized by over half of the respondents (52%), supporting higher production value.
➢ Other popular tools include live streaming platforms and online video editors, reflecting the growing importance of live and on-the-fly video content in business communications and marketing.
➢ Less frequently used, but still notable, are animation and motion graphics, teleprompters, and generative AI tools, the latter emerging as a new technology in video production.
➢ When it comes to the usage of AI in businesses, Wistia states that 18% of businesses are currently integrating AI tools into their video production workflows.
➢ 66% of respondents look forward to incorporating generative AI into their video creation processes by 2024.
➢ When businesses are asked how they use or plan to use AI for video, 59% use it for auto-generating captions or transcripts.
➢ While many businesses use or plan to use AI for various use cases, 14% do not use or plan to use AI tools for video production.
➢ Wyzowl's video marketing survey shows that 82% of people are convinced to buy a software or app after watching a video.
➢ According to the same survey, 89% of people want to see more online videos from brands in 2024.
To Sum Up…
With video gaining popularity, staying up-to-date on the latest trends is essential for marketers.
Video content is processed 60,000 times faster than text, so video marketing is a powerful tool for engaging your audience.
In this blog post, we take a closer look at the latest video marketing statistics for 2024 and the implications for businesses.
We hope this post helps you better understand video marketing and how you can use it to connect with your audience.
Video Marketing Statistics 2024 Infographic
Here is an infographic with some essential video marketing statistics we have shared throughout the blog post.
If you want to display this statistical infographic on your website, you are welcome to use the link below.
Frequently Asked Questions
Is Video Marketing a Good Strategy to Follow?
Definitely yes. With 86% of marketing professionals using video as a marketing tool, it is predicted that online videos will account for over 82 percent of consumer internet traffic.
If you haven't started investing in video marketing, you had better start now.
How can I Drive Organic Traffic to the Website with Videos?
Good content always finds its way into the video marketing game and can be a good source of organic traffic to your website.
All you need to do is focus on your video's output.
Using the right tactics, you can create original content that brings value to the viewer, distribute it on popular video marketing platforms like TikoTok and YouTube, and link it to your website.
Which Video Platform is Better, TikTok or YouTube?
The answer to this question depends on your needs. TikTok and YouTube are popular platforms for video marketing used by millions of people; however, they have different usability.
TikTok features short videos with a maximum length of three minutes, while YouTube videos can be hours long.
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