As companies begin to ramp up their marketing efforts for 2022, how important is video as a marketing tool? A survey from December 2021 by Wyzowl gives some insight on how companies are using video and the results they are seeing.
Who’s Using Video?
Between 2016 and 2021, video usage by companies has grown from 61% to 81%. 91% of those companies believe video is a valuable part of their marketing efforts. For those companies that aren’t using video, many attribute it to not having time or knowing where to start. Of the copanies not using video, 79% of them plan to start using video as a marketing tool in 2022.
What Types of Video are Companies Creating?
A large portion of videos created (42%) are live action, followed by animated and screen-recorded videos. 74% of videos are explainer videos, but marketers use video for a wide range of proposes: social media, presentations, video testimonials, video ads, sales videos, and product demos.
Companies are also using video for internal purposes, such as staff training and new hire onboarding. For customers and end-users, companies are creating customer onboarding and customer service videos to help customers use their products or services and solve common problems.
How do Marketers Define Success?
Success comes in many forms, and each company will define it differently. 62% of companies define success by the engagement their videos get, including likes, shares, and comments. 61% define success by the number of views their videos get. Beyond just likes and views, 60% view leads and clicks as an important metric, while 44% believe brand awareness and PR define success. On the lower end of responses, 41% say customer engagement and retention are their goals, while 27% believe actual sales define success.
How Does Video Help Achieve Goals?
87% of companies say video has helped build traffic and 82% say video has helped dwell time. Beyond growing traffic, 94% of companies say video has helped customers understand their product and services. If their goal has been to increase leads, 86% of companies say video does just that. In fact, 81% have said that video has helped them directly increase sales.
For customer-focused videos, 49% have said video has helped reduce support calls. Beyond helping to grow traffic and leads, 93% say video has helped grow brand awareness.
The Customer’s Perspective
It’s important to look at how customers view and utilize videos created by companies. 96% have said they have watched an explainer video to learn more about a product or service. 88% say they have been convinced to buy a product or service after watching a video. When asked how they’d prefer to learn about a product or service, the vast majority (73%) prefer to watch a video. That’s compared to 11% who’s prefer to read a text-based article, website, or post.
When it comes to sharing content, people are twice as likely to share a video than any other content.
What are Your Video Goals for 2022?
As you can see, video is an effective tool for marketers that generates a proven ROI. From generating increased traffic, leads, sales, to a better customer experience, video can be a valuable tool.
If you’re already using video, that’s great. If you’re not, or looking to grow your video usage in 2022, we’d be happy to talk. For nearly 20 years, we been helping companies like yours create compelling video content.