50+ Video Statistics Marketers Need to Know for 2023
Get the inside scoop on creating effective marketing videos for your business
The word is out: video is a fantastic way to market your business. With video you can tell potential customers who you are and build a connection with them, get new leads, grow an online community, or build trust and credibility. It’s safe to say video has proven itself to be a diverse and effective marketing strategy.
But why? Why does video work? What do companies need to keep in mind when creating video to ensure best practice? That’s why we’ve outlined the top 50 video statistics you need to know for 2023.
Here’s an extra one: did you know 80% of people prefer watching a video over reading text?
What does that mean for your brand and how you approach marketing in 2023? It certainly gives marketers and businesses development managers a lot to think about when it comes to lead generation, website design, email marketing and social media campaigns.
Where are the statistics coming from? Every minute people are uploading 2,500 videos, totally approximately 183 hours of content, to YouTube. This gives marketers a lot of data to consider when it comes to what works and what doesn’t for video marketing.
So let’s jump straight into it.
Here are the top 50 video statistics you need to know for 2023!
1 Video is in demand: the majority (87%) of customers want brands to make more videos.
2 Video is everywhere: people watch approximately five videos per day.
3 Video is tried and tested : 85% of marketers and business development managers stand behind video as an effective way to get attention online.
4 Video marketing: 87% of businesses are already using video in their marketing.
5 Ongoing video: 81% of marketers want to keep using video as a part of their marketing plans for 2023.
6 Video is worth the investment: 88% of marketers say that the return on investment on video is satisfactory.
7 Video is the internet: 82% of internet traffic in 2022 was streaming and downloading video.
8 Video is impactful: viewers can retain up to 95% of the information shared in a video format, which is significantly more than text or audio.
9 The start is the most important part of a video: only 37% of viewers will watch a video all the way to the end.
10 Every second needs to be exciting and new: the majority of people cite ‘boring’ content as the reason they stopped watching a video.
11 Video for websites: 83% of marketers say their website viewer retention has improved since incorporating video.
12 Users agree, with 88% of them spending more time on a website with video.
13 Video for sales: 84% of viewers have purchased a product because they watched a video about the product and liked what they saw.
14 Video is key for credibility and conversions: 50% of internet users watch videos right before they purchase.
15 Video for existing customers: 69% of customers would rather watch a video to learn about a new product or service, as opposed to reading about it
16 Video for lead generation: if you’re looking to get new leads, trust in the 81% of marketers who say video has helped bring in new leads to the business.
17 Video for brand awareness: if you’re looking to improve your brand awareness, video was deemed 2022s number one way of consumers finding a new brand and subsequently buying from them.
18 Video for email marketing: it’s a big yes, with 300% improvements on click through rates for emails with video compared to those without.
19 Video for SEO: video can even help with SEO with some sites seeing an increase of 157% of organic traffic from search engine results.
20 Video ROI: if you want to increase conversions on a landing page, use video. Some sites saw an 80% increase in conversions by using video.
21 Even more ROI: over half (52%) of marketers even go as far to say video has the best ROI.
22 Daily video use: 78% of people watch videos every week, with 55% watching at least one video a day.
23 Video for social: videos on social media get 48% more views than still images or text only posts.
24 Recall: 80% of viewers can recall a video ad they watched in the last thirty days.
25 Explain your business with video: nearly half of your customers want to see more explainer videos from brands.
26 Now is the time for video: video uploads are on the rise, up 263.4% in the last five years!
27 Video sparks interest: viewers get purchase ideas from watching videos, nearly two thirds of them do in fact.
28 YouTube is the home of video with 2.5 billion active users, and almost five billion hours of videos are watched on YouTube every day.
29 Facebook and Tik Tok are closely behind YouTube. Facebook is the home of video ads, where four billion hours of video are consumed each day.
30 Tik Tok was the number one downloaded app of 2021, which means 2023 could be the year it becomes king or queen of video.
31 Instagram is a great place for video too with one billion active monthly users. Stories are a great place for businesses to share video, with 500 million active monthly users and over one third of content in Instagram stories being from business.
32 75% of marketers agree LinkedIn is a solid medium for video marketing.
33 80% of videos on Linkedin are watched without sound – captions are essential!
34 Short but not too short: LinkedIn videos perform best when between 30 and 90 seconds.
Short and sweet: shorter videos perform better online, especially for businesses, with under two minutes being an ideal length.
35 Global video production saw just over half (56%) of videos being less than 2 minutes long.
36 LinkedIn for video sharing: did you know what LinkedIn users are twenty times more likely to share a video than they are other types of content like a blog or photo?
37 New customers with video: 93% of brands say they got new customers by posting videos on their social media accounts including Instagram, Tik Tok and Facebook.
38 Videos get watched on smartphones, not TVs: 62% of people would rather watch a video on their phone than through another screen.
39 Business videos are still mostly watched on a desktop with 87% being watched that way.
40 Optimisation is key: the majority of viewers (82%) dislike when video isn’t optimized for their device – which means they could stop watching your content.
41 Vertical vs Horizontal: 75% of viewers prefer watching a video horizontally as opposed to 25% who prefer to watch videos vertically.
42 Captions are critical: 92% of viewers say they watch videos without sound sometimes and rely on captions to tell the story for them.
43 Video use is surging: the amount of video consumed has grown 52% in the last two years.
44 People connect with video: with 39% calling a vendor after watching their video.
45 Video is key for marketers: with 92% saying video is essential to their marketing strategy.
46 Increased spend on video: marketers will spend nearly 42% more on video campaigns by 2024.
47 Videos help people understand: with 94% of marketers agreeing that video helps to improve audience understanding of their product or service.
48 Branding is a key goal: 36% of marketers have brand awareness as the primary goal of their video marketing campaign.
49 Video is the number one pillar for content strategy for marketers.
50 Marketers use video production companies for better quality videos, with 68% highlighting that as they key goal.
51 Video at scale: businesses that made more than fifty videos in a year grew from 13% to 46% in 2020.
52 Video post covid: 91% of marketers agree that video has become important for communication with potential customers since the pandemic.
53 Video for growth: marketers that use video grow revenue 49% faster than those that don’t.
Video Marketing in 2023
These statistics make it clear that video is a key content marketing pillar that Perth marketers and business development managers can use to drive leads, retention, brand awareness, conversions and ultimately sales.
One key to creating video for your business is to choose the right video production partner. You don’t just want a video production company that knows how to make beautiful videos, you want someone who takes the time to understand your business, your marketing objectives and offer advice on how video can make that happen.
LP Visuals is a Perth video production company creating videos focused on helping you achieve your marketing goals. We’re happy to brainstorm some ideas with you and see how you can make the most of video.