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