Metrics: Video is Growing by Leaps and Bounds!

LavaCon2015 Metrics Why

I presented these slides at LavaCon 2015. My hope is that people will comment with their experiences and feedback. I’d love to hear of any resources to add, especially if it comes from small businesses.

LavaCon2015 Metrics Why
Here are some of the numbers why you should consider using video.

High Points
Do or do not, but there’s no ignoring the numbers.

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Here’s some statistics to get you started. The slide notes have all the citations. Let’s go over this briefly. (Just quickly go through the stats. Try to spend only a minute or two on this slide.)

One statistic you see commonly thrown around is 1 minute of video is worth 1.8 million words. How did they come up with that number? It comes from the common saying, A picture is worth a thousand words. You have 30 frames per second in standard video x 60 seconds per minute. That’s the number of pictures in a minute of video. Multiply that by 1000 words and you turn this common phrase into an internet statistic. Let’s find something a little more scientific.
Source: http://gary-paul.com/1-minute-of-video-equals-1-8-million-words-misinformation-or-hyperbole/

According to comScore, which measures online engagement and use, 45.4% of internet users viewed at least one video online over the course of a month.
Source: http://www.videobrewery.com/blog/18-video-marketing-statistics

That’s 100 million internet users who watch online video each day. Some will be about cats, but some will be looking for a product or how to solve a problem.
Source: http://www.videobrewery.com/blog/18-video-marketing-statistics

comScore also found that the average user was exposed to average of 32.2 videos per month
Source: http://www.videobrewery.com/blog/18-video-marketing-statistics

90% of online shoppers at a major retailer’s website said they find video helpful in making shopping and buying decisions. Retailers who provide online video report that products with video sell more than products with no video. (Of course, some of it depends on your product and your audience. At the very least, you need some sort of visual, because…<next statistic>)
Source: http://www.videobrewery.com/blog/18-video-marketing-statistics

Our brains process images 60,000 times faster than text. We understand images faster and remember them better. They also affect us more emotionally. Ask anyone who is interested in brand. And how much photos convey more than just text. Our eyes and brains are also stimulated more by movement than by static images, which is why video is so effective.
Source: http://www.billiondollargraphics.com/infographics.html

75% of executives told Forbes they watch work-related videos on business websites at least once a week. 50% watch business-related videos on YouTube. 65% visit the marketer’s website after viewing a video.
Source: http://www.videobrewery.com/blog/18-video-marketing-statistics

But even with all this video watching, you still need to be able to cut through the noise. You generally have about 3 seconds to grab your user’s attention, especially at the top of the funnel. (“The funnel” is marketing jargon. The top of the funnel is the wide world in general. You have user’s attention but not commitment in the middle of the funnel. At the bottom of the funnel, the user is most invested in their relationship with the company.)

Photo credits:
Boeing Creative and Information Services

For further reading:

1 minute of video is worth 1.8 million words: Misinformation or Hyperbole?

http://www.videobrewery.com/blog/18-video-marketing-statistics and http://www.videobrewery.com/blog/over-30-stats-on-why-you-need-online-video

http://www.theguardian.com/small-business-network/2014/jan/14/video-content-marketing-media-online

The best and quite comprehensive collection set is from VidYard: http://www.vidyard.com/guides/ and http://www.vidyard.com/video-marketing-institute/