Mind-boggling video marketing statistics to outsmart the 2020 competition

Video remains the most significant trend on the block when it comes to customer engagement tools. The numbers on the latest statistics show nothing but a giant leap, making it evident that the trend is here to stay.

The main reason why video is the most engaging medium on the internet is none other than the concise, snackable information it offers.

As you already know that internet users want everything to be quick and straightforward. In this case, a long-written paragraph about a product is not always blissful. 

Video offers an engaging and captivating format where it can evoke your customers’ emotions and build a connection on a more personal level. 

It makes it easier for you to deliver your core message and for them to stick around.

Now that 2020 is just right around the corner, these essential video marketing statistics help you to map out your 2020 video marketing strategy to get an edge on your competition.

Let’s geek out.

Online video usage and consumption

The global proliferation of smartphones plays a significant role in the massive growth of online video usage and consumption. 

At least 78% of internet users watch online videos every week, and 55% of them watch it on a day-to-day basis. Thus, they prefer to watch it using their smartphones.

From a business perspective, more than 72% of customers prefer learning a product or service through a video rather than reading a user manual.

It’s no wonder that video consumption through mobile devices rises by 100% every year.

Video trends in 2020

The ever-growing video marketing sees trends come and go each year. In 2020, social media is projected to become the most crowded places for online video on the internet.

Vertical video is believed to be an incoming trend since the rise of Stories. Now, at least 40% of internet users film on their phones vertically. This number is predicted to grow massively in 2020.

On the other hand, 360-degree video is the next video trend that will dominate in video marketing in 2020. 

Since it’s still a new trend on the block, 14% of businesses use this platform, and 74% of them claim the success of using this video trend.

The impact of video marketing on businesses

More than just presenting your business to customers. With a video, customers can also learn about a product or service and see how to use them in just a matter of minutes. 

This is why most customers demand a product video before they purchase a product or service.

It’s a massive opportunity for businesses to engage more customers. No wonder that 81% of companies put video to their forefront of their entire marketing strategy. It is a 63% increase compared to last year.

Unsurprisingly, 93% of businesses gain new customers after posting a video on social media. 

And video marketers earn 66% of their qualified leads through video.

Those benefits drive 99% of marketers to continue to use video in 2020, while 88% of businesses will spend more on their video marketing campaigns than they did in previous years.

Summing up

As the numbers of the latest statistics keep staggering, it’s no surprise that almost every business jumps into video marketing to stay ahead of the game. It’s not because the video is the latest trends, but also it’s an extremely versatile and profitable digital marketing tool.

Video is now an undeniable necessity in the entire business strategy. It’s the best way for businesses to thrive in this noisy marketplace. 

For more fascinating statistics, check out this crucial Video Marketing Statistics for 2020 that we’ve compiled up to inform your next strategy.