Video Marketing Survey: 71% Say Video Conversion Rates Outperform Other Marketing Content
With higher conversion rates and improved ROI, 69 percent of marketers claim they plan on increasing video marketing budgets.
Marketers who fail to incorporate videos into their content marketing strategy may be overlooking a potential goldmine.
According to a video benchmark report from video marketing and analytics platform Vidyard, 71 percent of marketers said their video content’s conversion performance was either somewhat or much better compared to other types of marketing content.
Based on a poll conducted by marketing research firm Demand Metric and sponsored by Vidyard, the video marketing benchmark report included survey data from 235 respondents representing B2B, B2C and agency organizations.
When asked if they believed their video marketing ROI was getting better, staying the same, or declining, nearly half of the survey respondents claimed video content ROI was improving.
How is the ROI of video changing?
Eighty-six percent of the survey respondents said they were measuring their video content engagement rates, but, at 48 percent, the majority were only analyzing basic metrics like views and shares.
Twenty four percent of the respondents were tracking more intermediate metrics such as average viewing duration.
Fourteen percent used advanced engagement metrics, including views by embed location, viewer drop-off rates, viewing heat maps and attribution to sales pipeline.
Video content effectiveness measures in use:
While it’s important to note the survey respondent pool was limited with only 235 responses, nearly all survey participants – 95 percent – rated the importance of video as becoming somewhat more, or far more, important in terms of marketing and sales content.
Importance of video:
In light of the positive results marketers are achieving with video, it’s not surprising 69 percent of the survey participants said they plan on increasing their video content budget.
The survey also looked into how much video content is being produced and preferred hosting locations, with 46 percent of survey respondents currently hosting video content on their website in addition to external video platforms like YouTube.
Of the survey respondents, 17 percent claimed their organization produced more than 50 videos per year, and 32 percent were producing anywhere from 11 to 50 videos a year.
Twenty-five percent said they were creating less than five videos per year.