(Source: WikimediaCommons)
Have you been wondering whether it’s worth investing in video marketing? Are you unsure what video marketing is and how to make it work for your business?
Research shows that video generates more engagement than any other content type on Instagram. Digital marketing has created a 360-degree revolution for businesses. Before the internet, businesses owners took ages and lots of work to get their business known and sustainable. The digital era has advanced, and viral video marketing is the hit!
Why video marketing?
The year 2024 looks bright for your business. But, if you do not know how to make a viral video, you need to get your hands on it! Do not say that it’s for young people; viral video marketing is for everyone!
Imagine that the world is global. You can target more clients and make more sales by reaching a wider audience. It’s possible if you get your SEO right. All you need is a vibrant team to learn how to make a viral YouTube video, make a video go viral on TikTok, and note down the video marketing statistics. So when we say that video marketing is the future, guess what! It is here.
I want us to go into depth and look at why video marketing is the newest trend in 2024 and what you should focus on. The best time to prepare is now; therefore, take note of these insights that will help you as you target your audience.
Here is what we shall examine:
- Consumers (Internet Users) are in love with video content
- There is an increase in the demand for viral video content
- Video marketing is powerful
- Consumers are enjoying the videos on social media
- Focus Trends for 2024
- Video Marketing is profitable
- Videos drive internet traffic
- The growing popularity of video
Before we get into the main business of the day, I need you to ask yourself;
- Do you have enough resources to create videos?
- Is your target audience interested in videos?
- Do you think if you put in your time and resources, it will be a worthy cause?
If you answered in the affirmative, this article explains why video marketing is best for your business.
The statistics shared will help you create a high-end strategy for 2024. Let’s get into why viral video marketing is the newest trend you should focus on in 2024.
Consumers (internet users) Are In Love with Video Content (Absolutely)
(Source: Pinterest)
Over time, the number of video content creators has increased.
Why? Because there is a high demand for video content. Video marketing statistics show that more videos are being watched now than ever before. As a result, social media sites have leveled up to allow users to create short videos and go live on their pages.
You cannot underestimate the realness that comes with a video. In a world where most people are lazy with reading, videos communicate faster. Research in the United States in 2018 revealed that 85% of internet users watched videos monthly on their devices (Gitnux 2023). In addition, statistics show that 25-34-year-olds are watching more online videos.
The best news is that the number of people watching videos is growing. In addition, with the COVID-19 lockdown, people highly used the online space to do business and promote brands. There are highly professional digital marketing agencies helping businesses struggling with SEO turn their dreams into reality. Therefore you do not need to struggle because there are solutions.
There is an Increase in the Demand for Viral Video Content (for sure)
Previously, people only watched video content mainly for entertainment. However, over time brands have curved their way in to tap into the growing audience. It’s working and converting into sales.
So, where are the viral videos found?
The most significant space known for videos is YouTube. Content is shared through vlogs or educational videos according to your niche. You need to learn YouTube insights and how to make viral YouTube videos.
TikTok has blown up through short, entertaining videos. You need to craft your brand essence and learn how to make viral TikTok videos as a brand. The audience there is enormous and converting. Messaging your brand’s core business excitingly will get people to visit your website.
You should know that your audience is always looking for a video from you. People buy from whom they see, like, and relate to.
With the increasing demand for video, many industry influencers can proactively produce different types of video content to meet this rising need. The good news is that you can hire a digital marketing agency to help you.
Video Marketing is Powerful
In a world that is visual, there is no doubt that videos are a powerful tool.
Are you confused about demystifying what video marketing is?
Video marketing is a way of promoting a brand or product through videos. It provides marketers with an attractive, versatile, and highly shareable medium to reach their audiences. To make a viral video that will serve your target audience, you need to be knowledgeable.
Video marketing hit peak levels in 2021 and will go overboard in 2024, so having a digital marketing strategy is inevitable for your organization. Your marketing team needs to be hands-on and tap into every trend that video can provide.
The 2024 report shows that 91% of marketing professionals use video as a marketing tool. With the increasing demand for video content, it’s no surprise that such a large percentage of marketing professionals claim to use video as a marketing tool. Marketing professionals trust in the potential of video content to increase user engagement and improve brand trust.
Consumers are Enjoying the Videos on Social Media (Extremely)
Users see videos increasingly on every platform. Whether it’s on blogs, Instagram, or simply YouTube, they are expecting more video content. As a result, videos are the best rated by consumers.
Let’s get it straight;
You are on your phone or laptop reading this because you want to know how you can make a viral video.
Why?
Maybe, you watch videos all the time and want the same for your business consumers.
Today, most consumers claim that they have been influenced by a brand’s social media presence when making a purchasing decision. This statistic alone shows how videos are becoming more popular. With video becoming a significant influence on consumer decisions, it is no surprise that Instagram is on track to become the fastest-growing platform that uses video content to drive purchases.
(Source: Hubspot)
Focus trends for 2024?
One of the leading video content types businesses use is explainer videos, which explain your products or services. Other popular types of video content include vlogs (video blogs), video interviews, video presentations, tutorials, product reviews, product demos, recordings of live streams, video testimonials, and video ads.
Others include;
- LinkedIn and Video-A while back, LinkedIn announced that it is going into B2B video marketing (LinkedIn). It is an opportunity for businesses to utilize video to reach out to potential employees and clients.
- Live Videos-Social media has changed the business landscape drastically. It has bridged the gap between brands and consumers by providing them with a platform to interact more personally. It is excellent for engaging existing customers and leads who are highly interested in what your brand offers.
- 360-Degree Videos– Provides an immersive experience for consumers; thus, engaging them more effectively.
Using 360-degree videos allows you to showcase your products and services better as your target customers have more control over taking a look at them.
- Less is more video production- The trend towards simple video production is expected to continue, if not surge further ahead, into 2020 as more businesses double down on releasing more content to stand out in the crowd.
- Search Optimized Videos – As search engine algorithms become more intelligent and – businesses wise up to these changes, optimizing video content will continue to be central to your video marketing strategy.
- Soundless videos- Many social media users prefer watching videos without sound, especially in public.
Creating videos with captions will allow you to accommodate social media users who want to watch without sounds and those who do.
Video Marketing is Profitable
Every business’s core goal is to make money. Therefore, you expect that the investment you make with bring returns. It all comes down to the return on investment ( ROI). Numbers show that video marketing wins on ROI. Research shows that video marketers are satisfied with the ROI of their video marketing efforts on social media and the ROI of video ads posted to social media.
(Source: Hubspot)
Honestly, companies use video marketing to increase their sales, build their brand image and trust, keep their current customers informed, and reach out to potential customers. Some of the most common platforms marketers use for posting social media marketing videos and video ads are YouTube, Instagram, and Facebook.
Video marketing is the most preferred marketing tool because it can explain everything in a format preferred by users: the visual format. Therefore, tutorial marketers and explainer videos are viral among end-users.
Videos Drive Internet Traffic
With the increased popularity of video, its market share in internet traffic is set to increase.
It’s estimated that and downloaded by 2025 (PersonifyCorp, 2024). In addition, research shows that internet users consumed 56 exabytes (equivalent to one billion gigabytes) of internet video every month as of 2017. The figure will more than quadruple to 240 exabytes per month by 2025.
And it’s not just the consumption of uploaded videos that is forecast to increase. Live internet videos are going viral and are expected to account for 17 % of the video traffic by 2025. It is an important statistic to consider, especially for Instagram and Facebook Live.
The lives get a lot of engagement, and you can save them for future access. That means that data is stored well, and consumers can refer to it anytime.
The Growing Popularity of Video
(Source: Cisco)
So far, the statistics must have convinced you why viral video marketing is the trend.
But if not, here is one more;
Video popularity is way out of the numbers. However, the number of people watching videos is increasing daily videos. People spend an average of 7 hours weekly on online videos.
It is bound to increase. Traditional media is lagging, and digital media is taking over. People find it easy to watch what they want on their phones while on the go!
There You Have it; That’s What You Need to Know About Video Marketing Statistics for 2024
We’re hoping the video marketing statistics have helped shed some light on viral video marketing and how it can be an asset for your growing business.
Now you know what video marketing is and why it is important for businesses. So, if you are planning to invest in making a viral video and shining on it, remember that it doesn’t need many resources. These videos require a smartphone, and boom! You got it.
Social media is an essential productivity tool. Learn the craft of how to make a video go viral on TikTok and also how to make a viral YouTube video. It just goes to show that you don’t need a whole cast and crew to start your video marketing efforts today.
At Flying V Group, we strongly believe in the power of digital marketing. It’s because of its robust nature and the positive results it can bring to your business. We are one of the top full-service Internet digital marketing agencies specializing in website design, search engine optimization, pay-per-click advertising management, and social media marketing.
Contact us and let us get started designing your perfect digital marketing strategy and SEO battleplan.
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