Before digital and smartphone cameras, capturing something on video was not as easy. Today, all you have to do is point and shoot. And this has increased the use of video by small businesses as part of their marketing strategy.
Video Marketing ROI Statistics
A new survey by Yum Yum Videos reveals small business owners are satisfied with the ROI of their video marketing. Their support also extends to further investment this year and going big while they do so.
For small business owners, access to video marketing is being driven by websites, social media and other digital channels. What this means is you don’t have to hire a full production crew to direct your own commercial or just post a video.
The Yum Yum Video survey was carried out across the U.S. with the participation of 167 business owners. The owners were asked to compare their video marketing investment in the past year and social media performance data.
The gender breakdown was made up of 65% male and 34% female respondents. Millennials and Generation X made up the 40% and 59% of the respondents respectively.
Growth of Video Marketing
The growth of video marketing by small business is not letting down. More businesses or 21% are going to give it a try this year. And people who tried it in the past are more likely to invest in it again.
For more than two thirds or 67% of business owners, 2019 will see them making more than 3 videos. Others will make between 3-6 videos (34%) followed by 19% who will make between 6-10 and another 14% who will make more than 10 videos.
When they make all these videos, 9 in 10 or 87% of owners say they are happy with the ROI of video marketing. The performance indicators video delivers across industries is a valuable tool for measuring their performance.
Not only is video delivering more bang for their ad dollars, but business owners also say (62%) it is very or extremely important to them.
Types of Videos
According to the survey, explainer videos are the top choice with 80% of businesses investing in this type of content. With 95% of online consumers having watched at least one explainer video, this is a style owners can create easily.
If they have an expertise in something, just explaining what they do has the making of a great explainer video.
Explainer videos also generate the most ROI, with 35% of owners considering this type of video capable of producing higher ROI.
Overall 66% of owners said video is going to have the biggest impact on their 2019 strategy. While video was the clear leader, eBooks, infographics, blog posts, and podcasts also registered.
When it comes to the best channel for distributing their video, social media was first. This was the case for 59% of the respondents.
YouTube was the clear leader at 57%, followed by Facebook and Instagram at 26% and 15% respectively.
Benefits of Video Marketing Today
The biggest benefit of using video is the cost. You can start with your smartphone and free video editing software to make your content. And once you make the video, you have multiple platforms to post them in, again for free.
The availability of all these tools has encouraged small business owners to capitalize on the relevance and importance video. This, of course, has led many owners to create and launch their own video marketing campaigns.
Even with the smallest of budgets, you can increase sales, improve brand awareness, boost conversions, drive site traffic, and more.
Related reading: Small Business Guide to Video Marketing
More in: Video Marketing
I think it depends on the video. It has to be engaging so that it will gain the results that you expect.
This is effective if you know the type of content that your market wants. This will increase your chances of generating conversions.
Thanks for sharing the statistics. I’m not surprised. Video can be very effective.
Of course, it depends on a lot of things. Product, market, stage of awareness, campaign stage, and so much more.
But, I’ve had great results with video ads across many campaigns.
You are welcome.
I agree, there are many variables, but if done right it pays off.