The Video Marketing Explosion - Some Amazing Stats

The Video Marketing Explosion - Some Amazing Stats
October 21, 2011

I just got back from the Corporate Executive Board’s annual Sales & Marketing Summit in Las Vegas.  I had the opportunity to meet quite a number of very impressive heads of sales and marketing, and hear from thought leaders in the field. My favorite session was delivered by Sam Sebastian from Google who presented the concept of the “zero moment of truth” which makes a ton of sense for marketers these days who need to understand and capitalize on the search, mobile, social and video trends which are fast shaping buying behavior for virtually all goods and services. I also had the privilege to present on the topic of video marketing for driving demand generation programs, and was joined by Ken Pratt, VP of Digital Marketing at Houghton Mifflin Harcourt, who presented real-world examples and some enviable results.

In preparing for my presentation, I did some research and found some remarkable statistics related to video and mobile, which I decided to use to kick off my presentation. I wanted to share stats that would get the audience to sit up and take notice of what’s actually going on out there.  Hopefully, the same will be true for you…or at least it will make you think.

Some stats related to the immense popularity of online video…

  • YouTube currently has over 1 million videos uploaded every day. By my calculations, at an average of 4 minutes per video, this is equivalent to 8 years of content uploaded per day! 

  • There are over 3 billion views of videos on YouTube every day.  300 million of those views are from mobile devices.

  • Americans are spending nearly 3.5 hours per week watching videos online (according to an Arbitron & Edison Research report).

  • Seventy five percent (75%) of C-level execs report watching business videos every week (according to a Forbes Insights report). Yup…online video is not just a consumer trend.

The online video trend has not slowed down since YouTube launched in 2005, and it won’t for the foreseeable future.  Closely tied to the video trend is the mobility tsunami.  It won’t be long before mobile devices will be the predominant way that messages and content are consumed.  Some mobile stats…

  • Sales of smartphones will exceed 500 million units this year (according to Gartner). 

  • Forty percent (40%) of all mobile phones in U.S. are now smartphones, and this percentage just keeps rising.

  • Gartner is also forecasting there will be 70M tablets sold this year, the vast majority of which are iPads.   And mind you, this device has only been around for a year and half! 

  • By 2014 more people will be accessing the web from mobile devices than from their computers. 

A lot of what people are choosing to consume on their mobile device is video content. And this will continue to be the case as device performance keeps improving and carriers make connectivity and bandwidth ever more ubiquitous. A few more factoids for you….

  • Americans are watching 40% more video content on a mobile device this year compared to last year.

  • Of the 3 billion views on YouTube each day, over 300 million of them are on mobile devices.  

  • Approximately half of all mobile web traffic today is mobile video (according to Cisco), growing to two-thirds within the next 2 years.

So, my advice?  Get busy!  If it’s not already there, producing mobile-ready video content should be at the top of your list for your marketing content strategy.  Your prospects are expecting it…on your website, in blogs, on social media sites and on YouTube.  It’s needed at all stages of the buying process: for building awareness and attracting prospects early on, for educating and nurturing prospects once they’re interested, for keeping them engaged and informed all the way through the purchase decision, and for maintaining mindshare and providing updates for as long as they’re a customer.  Video-based communication is simply more efficient for prospects and customers, and let’s not forget, it’s more efficient for you too when it comes to getting their attention!  So give them what they want…if you don’t, someone else will.