If you Google the phrase “fastest growing online ad format” you’ll see there’s not much debate about the answer. It’s video.
As an online ad format, video is now more popular than search, more popular than email marketing, more popular than blogs and more popular than Facebook. The facts related to that growth are staggering.
For example, in 2011 the Internet Advertising Bureau reported that in the UK alone, the online video spend was up 90%.
When you think about it, it’s not that surprising. Online video has always been popular. And with the growth of smart phones and tablets and the ease of creating and sending video content, it makes sense that Web video is only becoming more popular.
If you’re a small business owner or manager, there are tons of facts to support adding more video to your website and marketing efforts. Below I’ve listed what I consider to be the top 7. After reading them, please feel free to add more reasons of your own.
Why Video is Growing Online
1) People Retain More With a Visual and Auditory Combination
People retain 58% more with both visual and auditory stimulation according to Forrester Research.
2) Video is Now More Searchable
Via Google AdWords for video, video is now more searchable by search engines. In fact, a video in Google’s index is 53 times more likely to appear on first page search results according to Forrester Research.
3) Video Has More Potential
Versus other media, video has more potential to be shared and go viral.
4) People Take Notice
65% of senior executives have visited a vendor’s website after watching a video according to Forbe’s Video in the C-Suite report (PDF).
5) People Prefer Video Over Text
According to the same Forbe’s report, 59% of senior executives prefer to watch video instead of reading text and 80% are watching more online video today than they were a year ago.
6) Video Increases the Likelihood of Purchasing
People who view a Web video are 64% more likely to purchase than those who don’t according to Comscore.
7) Video Provides Purchasing Confidence
According to Internet Retailer, 52% of consumers say that watching product videos makes them more confident in their online purchase decisions. When a video is information-intensive, 66% of consumers will watch the video two or more times.
In a 2012 keynote address at CES, YouTube’s VP of Global Content, Robert Kyncl, predicted that video would soon be 90% of Internet traffic. While Mr. Kyncl may be slightly biased, I wouldn’t bet against him. In the next decade, Web TV will be a game changer contributing to even more explosive video growth.
No wonder why Social Media Examiner reported that 76% of marketers say they plan to add more video (PDF) to their marketing effort.
Video Photo via Shutterstock
Many people love to watch than to read. That means many people are lazy when it comes to reading. And that’s what videos advertising consider. Men spend more of their time to watch video on youtube than women. And most of these men are business owners and advertisement audience. That is why using video is pretty much effective.
Very true. Thanks.
It’s a no brainer, if an image says a thousand words, what does a video do? No wonder more and more advertisers are moving advertising budgets to online video. However, this is still a new trend and it seems that small businesses are slow to adapt. Why do you think this is the case John?
First, thanks for the comment.
Second, I’m curious about your comment about small businesses being slow to adapt. Is that just an observation or something based on research facts? Because it IS a no brainer.
Video on a platform like YouTube makes it very easy to cross-distribute on other social media channels and websites, this enables content to go viral at a much faster rate.
Over 4 billion hours of video are watched every month.
Another great reason Why Video is the Fastest Growing Online Ad Format. Thanks, Sofia!
To industry experts, it’s a no brainer! However, I still think that too many SMB’s aren’t aware of the benefits associated with online video ads. The stats are there, I just don’t think that enough people have seen them yet!
Probably true, Adam. So, what do you do at viddyad?
I think if video is used well, it’s great. However, I’d still take a well-written post over a crappy video any day. I am probably in the minority in this next opinion, but I really prefer (usually) a guide over a video tutorial. If I know nothing about a subject, video is instructive. If I’m just looking for a simple answer, I feel like I may go insane having to watch ten minutes of video to find it.
I don’t disagree, Stacy. Thanks.
Hey I totally agree with you that people are more attracted to visual and auditory things. So, if we are creating online ad by means of video then it will get better response from customers. Thank for sharing!!!
Also, I want to add that more and more people are “cutting the cord” and getting rid of TV. This is not just for content creators, but people who are using stuff like Hulu, Netflix, and even yes YouTube as there video feeds.
Yep.. another great reason Why Video is the Fastest Growing Online Ad Format. Thanks!
Absolutely agree! People are attracted to moving, visual content. I wish there were more statistics available on the topic.
This is actually not as surprising. With more and more people being dependent on smartphones and other devices, it is inevitable for them to start appreciating videos. I can only see good things for this marketing platform in the future.
Exactly,. Aira. Thanks.
Ad executives are fooling themselves and the clients they sell to. As a user, I find videos obnoxious and intrusive. When your ad just starts running the minute I hit a site, I mute it or stop it or just leave the page.
I have no doubt that it’s the fastest growing format on line– I can see that as I surf. But I seriously question how effective it is. Everything that marked the decline of video advertising as effective in the TV world — over-saturation, channel flipping, ignoring, leaving the room — is present on line in spades.
Thanks Peter. I also hate videos that start running the minute I hit a site. I wouldn’t advise that.
The costs of stream videos are going down and will continue to do so. This is another reason why people are getting more interested in video ads. This would certainly let advertisers to get more out of their investment as video is the power of emotion, sound, magic and attention all wrapped together.
Great comment Alamin. Thanks!
hmmm…I think you are trying to untie two completely related topics that should actually otherwise be tied together.
I notice that the word “Share” comes up quite often with video. So….HOW are people sharing this content? Isn’t that social media? You Shared your article here on LinkedIn: social media.
The article itself has Share buttons…to social media. YouTube…Vimeo…Vine…Instagram…to G+ and Facebook to Twitter…all are deliver platforms for video (which is actually content).
Video and social media are not separate entities no matter how you would like to think so. Video is the “content” and social is the platform that it is transferred to the masses. It can’t go “viral” without social media. YouTube IS a social network.
Search is also completely tied into this as the search engines put more and more relevance into social signals.
Email marketing is another delivery platform.
In essence, I am not sure why the comparison of video vs social (or vs. email marketing etc) They are two different creatures that symbiotically depend on one another for the most powerful marketing initiative possible. Good social will incorporate video content. Good video content will be spread to the masses via social/search/email.
Let’s see how “far” a video goes just housed on a website without the use of social, email marketing etc… 🙂
Video advertising online has increased engagement by over 6x in the last 2 years. According to Dr. James McQuivey of Forrester Research, a one-minute video allows viewers to process more information than a 1.8 MILLION word article! In addition, users’ attention spans are getting shorter and shorter. That’s why video is becoming a dominant force in marketing and is here to stay.
Thanks for sharing the wonderful article. Video campaigning is the most effective interest capturing way of marketing online. Can you put some more light on the same? Thank you again.
amazing post Yeah I do believe in video content because we are living in the world of visualization every body want to see the things and learn .thanks for sharing keep sharing..
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