Video marketing statistics: Avoid vanity KPIs and capitalize on trends

Video marketing continues to flourish as a leading format for creative teams to engage and connect with their target audiences. From social media shorts to explainer videos, video is critical within the multimedia mix for brand campaigns and agency work. According to Hubspot, 83% of marketers that create video say they have generated new leads from multimedia content.

However, video marketing takes much more creative production power than other forms of content creation. From storyboarding to shooting to the much more involved review and approval process, the creative “muscle” required to launch an effective and comprehensive video marketing program can require a ton of time, resources, and planning. The input–and stakes–are higher with video content.

With so much work that goes into video content creation, it’s crucial to separate valuable metrics from vanity key performance indicators (KPIs) to evaluate which types of video content have the greatest impact in creative, marketing, and advertising campaigns.. By focusing on the right statistics, creative teams can make informed decisions and optimize their video marketing strategies for success. 

In this blog post, we will explore the top trends and video marketing tactics that are working in 2023, so you can apply video content in the most effective way, provide insights on how to measure your video content, and avoid vanity KPIs that don’t truly paint a picture of the impact of video marketing.

What we'll cover:

The ROI of video marketing 

Video is a powerful tool. It tends to be the most engaging form of content, far surpassing text and images. Video also presents a unique opportunity to provide a more interactive feel, since even pre-recorded content has a bit of a “live” feel.  

• 93% of marketers who use video consider it an important part of their strategy, a number that is continuously increasing (Wyzowl).
• 87% of video marketers report a positive ROI — a number that is also trending upwards over time (Wyzowl).
• 78% of video marketers say that video marketing has improved their company’s bottom line (Wyzowl).
• Marketers who incorporate video see nearly 35% higher conversion rates than those that don’t (Vidyard).
• Social media videos result in up to 1,200% more shares than text and image content combined (G2 Crowd).
• 48% of first-time video marketers commit to the medium because it’s easier to persuade colleagues of its value (Wyzowl).
• 54% of consumers want to see more video content in the coming years (HubSpot).
• 87% of video marketers say video has helped increase website traffic (Wyzowl).
• 66% of B2C marketers use video as part of their marketing campaigns (Content Marketing Institute).
• 92% of consumers watch video content with the sound off, and 50% rely on captions as a result (Verizon).
• Videos get the most engagement when they’re at most 2 minutes long (Wistia).
• 51% of B2B decision-makers use YouTube videos to research purchases (Hootsuite).
• 71% of B2B marketers have used video in their marketing (Content Marketing Institute).
• 72% of videos made by marketers are “explainer videos,” walking the viewer through a process or concept (Oberlo). 
• 83% of video marketers claim it helps with lead generation (Wyzowl).
• 1 in 4 consumers made a purchase after seeing an Instagram Story (Animoto).
• LinkedIn members are 20x more likely to share video posts than other types of content (LinkedIn.)

As the online video statistics above reveal, people consume a tremendous amount of video content. Video appears to be just as effective in a B2B environment as it is in a consumer-facing one. In fact, it would seem that it’s even more popular among B2B marketers. 

Additionally, as we’ll see in the other sections below, video tends to be much more effective for both brand engagement and conversions . Video marketing stats clearly show that the higher engagement from video turns directly into higher conversion rates — it’s hard to pass up a 35% increase. Additionally, there’s some evidence that it may be easier to get buy-in from colleagues and managers on video campaigns.

Top trends in video marketing 

What's moving the needle in terms of video content in 2023? If your team is going through the additional time and effort to creative video campaigns, you should be aware of the format and type of content that is seeing the most engagement in 2023. Here are several trends to watch for this year in video marketing:

Short-form content is dominating video marketing

Short-form videos, typically ranging from a few seconds to a couple of minutes, are gaining immense popularity. Platforms like TikTok and Instagram Reels have propelled the trend, capturing the attention of audiences with their snappy, engaging content. Brands are leveraging this trend by creating concise, captivating videos that quickly convey their message and capture the audience's interest.

• Video ads on Instagram see 3x the engagement of image ads (Databox).
• Stories shot on mobile outperform those shot in a studio 63% of the time (Instagram).
• The best length for a LinkedIn video appears to be between 30 and 90 seconds (LinkedIn).
• One-second ad spot buys by Miller Lite generated led to an 8.6% sales boosts during the Super Bowl (The Drum)

Online content continue to evolve with interactive videos

Interactive videos offer viewers an immersive and participatory experience. Brands are incorporating interactive elements such as quizzes, polls, and clickable hotspots, stoppable products and livestreaming within their videos to engage viewers and keep them actively involved.

Livestreaming in particular has emerged as a dynamic and effective way for brands to engage with their audience in real-time. Whether it's hosting live events, webinar, product launches, behind-the-scenes glimpses, or interactive Q&A sessions, livestreaming allows brands to establish an authentic connection with their viewers. Livestreaming also offers opportunities for real-time feedback, enabling brands to gather valuable insights and adapt their messaging based on audience reactions and preferences.

Shoppable videos, on the other hand, allow viewers to make purchases directly within the video, reducing friction in the buyer's journey and enhancing conversion rates. These interactive and shoppable video experiences are enabling brands to drive engagement, increase sales, and provide a seamless path to purchase.

• Over 83% of internet users in the US accessed digital video content on their devices (Statista).
• Over 80% of all global internet traffic will come from streaming and downloading videos (Cisco).
• Social media video statistics tell us that 73% of consumers want to see social media videos that are “entertaining” (HubSpot).
• Facebook Live has seen a a 50% increase in viewers (Facebook).
• Facebook Watch sees over 1.25 billion visitors every month (Facebook).
• More than 75% of marketers claim Facebook Live has helped increase sales (makeawebsitehub.com)
• The number of LinkedIn Live streams increased rapidly in 2020, jumping nearly 90% from March to June alone (LinkedIn).

Brands are integrating user-generated content (UGC)

User-generated content continues to be a powerful tool for brands. By incorporating UGC into their video marketing strategies, brands can tap into the authenticity and trust that comes from real customers sharing their experiences. UGC can take the form of testimonials, product reviews, or creative contributions from consumers. 

• 40% of marketers rank UGC as a high-ROI format in social media (Hubspot)
• 80% of consumers said they'd be more likely to purchase a product from an online store if includes products  
• Consumers are 2.4x more likely to say user-generated content (UGC) is authentic compared to brand-created content (Stackla) 
• Video engagement increases by 28% when consumers are offered a mix of both user-generated product videos and official brand authored content. (SEMRush.)
  
• Ads that included UGC received 73% more positive comments on social media than traditional ads. (Jukin Media)
• Ads featuring UGC garnered 73% more positive comments on social networks than traditional ads. (Jukin Media)
• Gen Z viewers on YouTube vastly prefer shorter videos that include UGC (YouTube)

By featuring UGC in their videos, brands are able to build stronger ties with their audience and leverage the power of social proof.

Brands are churning out personalized video experiences

Personalization has become a crucial aspect of marketing, and video content is no exception. Across platforms, brands are tailoring their videos to specific audience segments, delivering personalized experiences that resonate with viewers on a deeper level. 

• Personalized email videos have an 8x higher click-through rate than a standard email campaign. (Campaign Monitor)
• Videos personalized to each individual have a 4.5X higher unique click-through rate (Planable.io)
• Personalized videos had a click-to-open rate of about 16 times greater than standard videos (Videoform).

Creating personalized videos requires even more creative effort, but the results have a major impact on brand interaction and customer engagement. By leveraging data and insights, brands can create videos that address individual preferences, pain points, and interests, fostering a stronger connection with their audience.

Viewers prefer vertical video optimization for mobile and social

With the increasing dominance of mobile devices in video consumption, brands are optimizing their videos for vertical viewing. Vertical videos, specifically designed for mobile screens, provide a more immersive and user-friendly experience. By embracing vertical video formats, brands ensure that their content fits seamlessly within the mobile viewing environment, capturing the attention of on-the-go consumers.

• Vertical videos generate higher engagement rates than horizontal or square, at 0.35% (Socialinsider).
• A full 90% of consumers watch video content on their mobile devices (Wyzowl).
• Users spend an average of 40 minutes per day watching YouTube videos on mobile devices (BroadbandSearch).
• 93% of Twitter video views occur on mobile devices (Social Media Today).
• Over 75% of all videos are viewed from mobile devices (eMarketer).

Mobile is where it’s at — especially when it comes to video. Video content, particularly social video content, is overwhelmingly viewed on mobile devices, and as such should be optimized for mobile. 

Additionally, the rise of TikTok and other similar vertical-video platforms has shifted the format preferences from horizontal to vertical in a lot of cases. At the very least, vertical video is no longer considered a mortal sin. However, the platform you’re on should be taken into consideration here.

Video marketing metrics that actually unearth audience behavior

While many marketers are already tracking popular video metrics such as views, likes, and shares, there are several other metrics that can provide valuable insights into the effectiveness and impact of video content. 

Here are some metrics that marketers should consider measuring:

• Completion Rate: This metric indicates the percentage of viewers who watched a video in its entirety. Tracking completion rates helps assess audience engagement and the overall effectiveness of the video content. A high completion rate suggests that the video successfully captured and retained viewers' attention, while a low completion rate may indicate areas for improvement.
• Play Rate: Play rate measures the percentage of people who clicked the play button after seeing the video thumbnail. It provides insights into how well the thumbnail or video preview is enticing viewers to start watching. A high play rate indicates that the thumbnail or preview is compelling, while a low play rate may suggest the need for thumbnail optimization or content adjustments.
• Engagement actions: In addition to likes, comments, and shares, marketers should track other engagement actions that viewers take while watching a video. These actions may include clicking on embedded links, subscribing to a channel, downloading additional resources, or filling out forms. Monitoring these actions helps gauge the video's ability to drive desired viewer behaviors and conversions.
• Social media reach: Beyond the number of shares, tracking social media reach provides insights into the actual number of unique viewers who have been exposed to the video content. This metric helps evaluate the effectiveness of social media distribution strategies and provides a more accurate picture of the video's reach and potential impact.
• View-through rate (VTR): VTR measures the percentage of viewers who watched an embedded video ad in its entirety. This metric is particularly relevant for video ad campaigns and helps gauge ad effectiveness and audience interest. A high VTR indicates that the ad content is engaging and resonating with the target audience.
• Audience retention: Audience retention metrics show how well a video retains viewers' attention over time. By analyzing the audience retention graph, marketers can identify specific points in the video where viewers tend to drop off. This information is valuable for optimizing video content, ensuring it maintains viewer interest throughout its duration.
• Conversion metrics: While views and engagement are important, tracking conversion metrics is crucial for measuring the impact of video content on desired actions or outcomes. Conversion metrics may include click-through rates, lead generation, sales, sign-ups, or any other key actions that align with the video's intended goals. By connecting video content to specific conversion events, marketers can determine the ROI and effectiveness of their video marketing efforts.

By measuring these additional metrics, marketers can gain deeper insights into audience behavior, video performance, and the impact of video content on overall marketing goals. These metrics provide a more comprehensive understanding of video effectiveness and help drive data-informed decisions and optimizations.

Fine-tuning the video marketing production process

Knowing which types of videos to create for your target audience--producing video content is a whole different challenge to tackle. Video projects are among the most involved types of content to create. Turnaround times on project reviews are especially long.

However, teams using automated workflows can drastically reduce the review and turnaround times of video projects — by up to 70%. This enables the creation of more, and better, content with less work, ultimately driving more engagement and revenue via video marketing campaigns.

• Video projects have the longest average project review turnaround time of any media type, taking about 65 days to complete. (Ziflow)
• 43% of all video projects in Ziflow utilize workflow. (Ziflow)
• Video projects that used an automated workflow saw a 35% reduction in turn-around time versus videos that didn't use a workflow at all. That averages to 26 days of time savings in project completion. (Ziflow)
• Video projects utilizing workflow on average actually have 2x the number of versions but faster turnaround times — up to 70% faster in some cases. (Ziflow)

If there is one single medium to invest your marketing budget in 2023, it’s video. No other format shows the levels of engagement, conversion rates, and ROI of video, and the huge numbers of marketers evolving their video m marketing is a highly-convincing demonstration.

The top trends in video marketing and content creation for brands in 2023 revolve around short-form videos, personalized experiences, interactivity, user-generated content, livestreaming, and vertical video optimization. By staying attuned to these trends and adapting their strategies accordingly, brands can create impactful and engaging video content that resonates with their target audience.

Furthermore, measuring the right video marketing metrics and ensuring you have a proper video marketing production process in place can help your team cut down production times and leverage video content more quickly and effectively within your marketing mix.