Video Marketing: Discussing Trends, Formats, and Effectiveness

Video content is becoming increasingly popular: in 2023, users spent an average of 17 hours a week watching videos. Videos are rapidly dominating all areas, including marketing. Today, nine out of ten companies use video to promote their brand.

Why are brands increasingly turning to videos as a main advertising tool? Unique video content can increase engagement and lead to targeted actions by potential consumers. However, statistics indicate that simply publishing content without an understanding of effective strategies based on the latest trends is not enough. We have studied research from our colleagues and compiled trends in video marketing for 2024 in this article.

According to data from Sprout Social, video format is gaining momentum. It's dynamic, engaging, and highly effective: 87% of marketers report a direct increase in sales through videos. Additionally, 86% of people surveyed spend a quarter of their time watching videos on social media. This method of presenting information is much more memorable, whereas text is often poorly absorbed.

Short films, in particular, provide the highest return on investment compared to other formats. How do video marketers measure effectiveness? 60% look at likes and shares, 42% consider customer engagement and retention, and 40% use views to assess performance.

Such content leads users directly to the brand's website, as reported by 84%. Users enjoy watching dynamic videos: 81% of consumers prefer short videos from brands. If videos last more than 60 seconds, users are unlikely to watch them to the end.

At the end of 2023, Wyzowl surveyed 967 unique respondents, including online shoppers and professionals. 39% of professionals indicated that the most commonly used format for promotion is video testimonials. Explanatory videos that briefly describe a product or service are also created for marketing purposes. The golden rule is that any text should be short and memorable to not deter potential customers.

Animated content and videos featuring actors remain popular formats among marketers. The trends in content creation are changing: only 38% of video marketers produce content themselves. Brands are increasingly outsourcing material or relying on collaborative efforts between internal and external teams.

75% of those surveyed discuss the involvement of artificial intelligence in content creation. AI accelerates the processes of production and editing of material and is rapidly changing the lives of brands.

Instagram boasts over a billion active users, despite not being the largest social network. A wide range of formats allows for the creation of diverse types of content. 50% of consumers have indicated a preference for watching short clips on Instagram* Reels. Stories are also popular, with more than half of users viewing them daily, 50% of whom then visit the brand’s website.

Influencers tend to believe that the most engaging type of posts for 2024 will be Instagram Reels. People enjoy receiving such content from companies.

According to the service Statista, YouTube also boasts impressive numbers: over 500 hours of video are uploaded every minute, and the number of active users reaches 2.5 billion. A special category of content is videos aimed at families with children, as 81% of surveyed parents use the platform for their children.

70% of users take a targeted action after seeing a product on YouTube. It is also an excellent platform for exploring a brand, service, or product: users are four times more likely to use the site for these purposes compared to social networks.

Videos must be relevant and easy to view to be effective. 82% of respondents dislike when content is not optimized for their device. YouTube is suitable for horizontal videos, while Instagram does not support this format.

The human factor also impacts sales. Making a customer laugh increases the chances of making a purchase by 92%. Previously, this only worked in offline environments, but now this effect is also applied in videos.

Personalization cannot be ignored: such videos have a 35% higher retention rate. It's not necessary to create them for individual users; videos can be personalized by adding consumer personal information, such as names.

Video marketing is the present and future for brands. The diversity of formats and the ability to track effectiveness encourage professionals to turn to filming more often. By 2025, spending on video content is expected to reach $456 billion. Significant sums are allocated in brand budgets for video promotion, and data shows that the costs of creating videos yield substantial results.

Leave a request for a free consultation on promotion with the manager of the WGG advertising agency!