A one-minute online video is equivalent to 1.8 million words. What kind of marketing value does this offer companies – and their viewers?
According to Dr. James McQuivey of Forrester Research, the value of one minute of video is 1.8 million words.
How is this possible?
Online videos – combining powerful imagery, narration, text, and sound – forge multiple forms of communication into a single, information-rich display…much more than you could ever hope to do with writing, speaking or images alone.
For these reasons, we are seeing more businesses engage with video marketing to efficiently and effectively get their messages across.
In fact, 81 percent of people feature their video on their brand website (InsideCXM).
But massive word count is not the only eyebrow-raising statistic; here are a few more numbers that could have you putting together your own reels by the end of this article.
The 19 Percent
The use of the word “video” in an email subject line boosts open rates by 19 percent, according to Syndacast. At first glance, this may not seem like a number that matters; but considering the average open rate across industries is 30 to 35 percent, this increase has the potential to take you up to 50 percent or more.
Even better news about video and email? When online video is used in email marketing, it increases click-through rates by 65 percent and reduces unsubscribes by 26 percent (Syndacast).
The 78 Percent
Seventy-eight percent of people watch online videos weekly, and fifty-five percent watch them daily, per Three Motion. There is no doubt about it: video consumption is on the rise, and businesses that want to reach consumers need to do so where, when and how audiences want.
The 50 Percent
Speaking of where videos are being consumed, 50 percent of all mobile traffic comes from online video, according to Merchant Marketing Group. If you want to reach consumers where they are (mobile) and how they want (video), then mobile-friendly websites and mobile video formats are a must.
The 80 Percent
The Online Publishers Association tells us that 80 percent of Internet users recall watching a video ad on a website they visited in the past 30 days. Of those, 46 percent took some action after viewing the ad, including visiting the website named in the ad, looking for more information about the subject in the video, visiting the company represented in the video, and purchasing the specific product featured in the video ad.
As you can see, video content has great potential to provide value for both businesses and viewers. For businesses, online video presents an opportunity to capture the attention of viewers with a type of media that interests them. For viewers, video marketing means getting information quickly, succinctly, and in a way that helps them make buying decisions faster than ever before.