Stats From 2020 Show Video Marketing Will Still Be Big In 2021
Anyone who thinks video marketing is just one of those passing fads that will soon be irrelevant and gathering dust in a museum of “once popular marketing tools” should think again. An Auckland digital marketing agency has been doing some research into video marketing statistics in 2020 and they’ve seen enough to suggest that video will still be very big in 2021, and beyond.
- 92% of marketers say that video has been an integral part of their marketing strategy in 2020. This is a significant increase from 78% in 2015, so video marketing as part of a digital strategy is gaining momentum and certainly showing no signs of decline.
- As far as B2B is concerned, 2020 statistics show that shorter videos are best and this trend will continue in 2021. B2B online videos of less than 60 seconds had a completion rate of 68%, compared to the 25% completion rate of videos which were more than 20 minutes long. While short video is the way to go, the challenge will be to tell more of a story in less time in 2021.
- There has been an 800% increase in the worldwide watch time of ad-supported and purchased feature-length movies in the past year.
- There are predictions that the average person will spend 100 minutes every day watching online videos in 2021. This is compared to daily viewing minutes of 84 in 2019, which represents an increase of nearly 19%.
- 78% of marketers believe that video as a selling tool has helped them get new customers.
- One survey found that including a video on a landing page can increase conversions by 80%.
If anything, video marketing is building a head of steam and won’t be slowing down any time soon. While marketing is full of fads that are no longer current, video won’t be one of them. But video marketing will be refined in the years ahead. For example, video marketers are forecasting a more data-driven approach, in line with general digital marketing trends. Data gives rare and profound insights and can help a business target the right audience with the right message at the right time. This approach will be applied to a greater degree to video marketing in 2021, leading to even more engagement and conversions. It will give brands a greater understanding of what is working in their video marketing, including the best platform.
Another predicted trend for 2021 is the need to produce more personalized video. After all, it’s what the consumer wants. In a recent survey, 48% of consumers said that they want videos to better reflect the products or services they were interested in, as it would help to inform their decision making. A further 43% want videos to be interactive so they can decide what information they want to view and when they view it. This more interactive experience could be the next big thing in video personalization – and with the 2020 statistics being the way they are, video marketing, in general, will continue to be “the next big thing” in 2021 and way beyond.
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