61% of businesses now embrace video as a marketing tool

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

Tags: digital video, marketing, online video, research