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61% of businesses now embrace video as a marketing tool
Just how quickly are marketers catching on to the use of video in their marketing efforts? New research from Wyzowl reveals all.
In their first 'State of Video Marketing' survey, based on surveys of marketing professions and online consumers during 2015 and 2016, UK-based content creation firm Wyzowl found that 61% of businesses reported using video as a marketing tool. Nearly two-thirds report that their use of video has directly led to increased sales.
As an indication of the phenomenal growth of marketing video adoption, 66% of those businesses were not using video in their marketing efforts 12 months ago. Of those that do now use video, it's something they will continue to do and 91% said they plan to maintain or increase their video spend this year while 67% say they plan to spend more. Just 8% plan to decrease or cut their budget.
According to Wyzowl's Samantha Ferguson, the stats revealed in their research "should make it very clear that video is a powerful marketing tool, and no longer just a "great-to-have", but a "must-have". The 39% of businesses that are yet to add video to their marketing strategy are risking falling seriously behind".
Additional data from Wyzowl's comprehensive research include:
- 76% of businesses that use video say it provides good ROI;
-72% believe it improves conversion rates;
- 83% of the 45% of businesses who have explainer videos on their homepage say they are effective;
- 78% of the 87% who use video on social media believe it to be an effective tactic;
- 15% of businesses who don't use video say it is too expensive.
More stats can be found on Wyzowl's website.
Image via Shutterstock
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