20 Vital Video Marketing Statistics You Need to Know in 2024

Video marketing has become an essential part of any successful marketing strategy in today‘s digital landscape. With billions of people watching online videos every day across all platforms, video marketing presents a huge opportunity for brands to engage their target audience.

In this comprehensive guide, we will explore the latest video marketing statistics, trends and data to help you fully leverage video for your 2024 marketing campaigns.

Key Video Marketing Statistics for 2024

• 86% of video marketers say video has increased website traffic
• 93% of businesses gained new customers from social media videos
• 87% of video marketers boosted sales with video
• 91% of consumers want more video content from brands
• 3.1 billion people watch online videos daily
• 96% of marketers use video as part of their strategy
• Consumers are 10x more likely to engage with video vs text
• 53% use video to build brand awareness
• 58% will watch a full video under 60 seconds
• People watch 17 hours of online video weekly
• 78% say YouTube is the most effective video platform
• 66% prefer short-form social media videos
• 51% of watched videos are music videos
• 30.6% favorite how-to and tutorial videos
• 79% purchased software after watching a video
• 92% share mobile videos with friends
• Video ad spend to reach $176B in 2024

Let‘s explore these video marketing statistics and trends in more detail:

1. 86% Say Video Has Increased Website Traffic

A significant 86% of video marketers report that video content has helped increase their website traffic over the past year. With video‘s ability to capture attention and communicate information quickly, it‘s become a powerful driver of traffic from social media and search to websites and blogs.

Driving traffic to your site is one of the top reasons businesses create video content. With more website visitors, you have more opportunities to convert them into leads and sales.

Takeaway: Video should be an essential part of your content strategy if you want to grow website traffic. Short videos can help introduce viewers to your brand and drive them to your site for more information.

(Source: Blogging Wizard 2022 Video Marketing Statistics)

2. 93% Gained New Customers from Social Videos

Posting videos on social media isn‘t just good for engagement. A massive 93% of businesses that share videos on social media report acquiring new customers as a result.

Platforms like Facebook, YouTube, Instagram and TikTok make it easy to showcase your products, tell your brand‘s story and convert viewers into paying customers.

Takeaway: Social videos are a proven way to attract new prospects and leads for your business. Put effort into crafting compelling social videos that highlight your brand‘s value proposition.

(Source: Sprout Social 2022)

3. 87% Say Video Has Boosted Sales

Beyond brand awareness and website traffic, video marketing can directly impact your bottom line. A strong 87% of marketers surveyed say video has helped boost their sales.

From video ads to product demos and customer testimonials, video content helps you demonstrate the value of your offering in a relatable way. This drives more informed purchases.

Takeaway: Video is a sales tool you can‘t afford to ignore. Use video across the buying journey, from introduction to product education to final conversion.

(Source: Wyzowl 2022 Video Marketing Statistics)

4. 91% Want More Video Content from Brands

Consumers can‘t get enough video content. A full 91% of consumers surveyed say they want to see more video content from the brands they support.

With the massive popularity of platforms like YouTube, TikTok and Instagram, video has become the content medium of choice for many. Audiences now expect video as part of the marketing mix.

Takeaway: If you‘re not already heavily invested in video marketing, your audience is telling you it‘s time. Use video content frequently across your channels to satisfy consumer demand.

(Source: Oberlo 2022)

5. 3.1 Billion People Watch Online Videos Daily

According to market research, a staggering 3.1 billion people across the globe watch online videos every single day. Video has become a daily habit for nearly half the world‘s population.

These digital video viewers represent a massive opportunity for brands and marketers. Even capturing a tiny fraction of viewership could result in millions of views.

Takeaway: The sheer scale of daily video viewership underscores why video needs to be central to your marketing approach. Make sure you‘re present on platforms where billions watch video.

(Source: Demand Sage 2022)

6. 96% Use Video as Part of Their Strategy

Almost all marketers today incorporate video content as part of their overall strategy. A full 96% view video as an important marketing channel, up from 93% in 2021.

Seeing metrics like increased traffic, leads and sales from video efforts, most marketers now dedicate a portion of their budget and resources to video creation and distribution.

Takeaway: If you‘re among the 4% of marketers not prioritizing video, you‘re way behind the curve. Follow the herd and make video marketing a priority across campaigns and channels.

(Source: HubSpot 2022)

7. Consumers Are 10x More Likely to Engage With Video

Why has video become so ubiquitous in marketing? Consumers are simply far more likely to engage with video versus other content formats.

Research shows people are a staggering 10 times more likely to engage with video content compared to plain text. Video‘s visual format makes concepts and stories more relatable.

Takeaway: Whenever possible, choose video over text when creating content. Pound for pound, video content will drive higher engagement across all platforms and channels.

(Source: WebFX 2022)

8. 53% Use Video For Brand Awareness

Over half of marketers cite brand awareness as one of the primary goals for their video marketing efforts. Video provides a dynamic way to introduce your brand to new audiences.

From fun branded social videos to more polished brand storytelling, video showcases brands‘ personalities in a way text and images can‘t.

Takeaway: Brand awareness campaigns should always include a video component. Videos help new viewers understand who you are and what makes your brand special at scale.

(Source: Blogging Wizard 2022)

9. 58% Will Watch a Full Video Under 60 Seconds

With shorter attention spans, many viewers won‘t stick around for lengthy video content. A strong 58% say they are likely to watch a full business or marketing video when it‘s under 60 seconds.

Shorter videos are ideal for platforms like TikTok, Instagram Reels and YouTube Shorts where quick videos thrive. Avoid bloated videos that meander.

Takeaway: When creating social videos, err on the side of conciseness. Get to your point within the first 10 seconds. Show don‘t tell. Entertain don‘t lecture. Deliver value quickly.

(Source: Sprout Social 2022)

10. People Watch 17 Hours of Online Video Weekly

How much time do people actually spend watching online videos each week? According to recent surveys, the average is a whopping 17 hours per week.

That‘s the equivalent of nearly 2.5 hours of video content consumed per day. From social media to streaming TV and movie services, online video is a major pastime.

Takeaway: The hours we spend watching video weekly speaks to the importance of video marketing. You need to be where your audience is spending its attention, and video is it.

(Source: Wyzowl 2022)

11. 78% Say YouTube Is the Most Effective Video Platform

While other social platforms are gaining steam, YouTube remains the king of video marketing. A sizeable 78% of marketers report that YouTube is the most effective platform for video content.

YouTube‘s massive viewer base, strong targeting capabilities, and prominence in search results make it a must-have channel.

Takeaway: A strong YouTube strategy needs to be the foundation of your video marketing efforts. Optimize your YouTube presence with keyword-driven content, channel subscribes calls-to-action, end screens, cards and more.

(Source: Wyzowl 2022)

12. 66% Prefer Short-Form Social Videos

While YouTube still leans toward longer-form content, short videos shine on social platforms. A majority 66% of consumers say they prefer snappy, short-form videos on social over longer videos.

Platforms like TikTok, Instagram Reels and YouTube Shorts cater to this preference with truncated time limits. Even on Facebook, short clips get more engagement.

Takeaway: When cutting videos for social, keep them under 60 seconds if possible. Show only the most engaging parts and scenes. Save longer-form content for your YouTube channel.

(Source: Oberlo 2022)

13. 51% of Watched Videos Are Music Videos

When it comes to overall online videos watched, what content do viewers consume most? Music videos top the list with a 51% share of total videos watched.

Music videos remain hugely popular on YouTube. Artists use music videos to engage fans while labels promote new songs. Various compilations also drive music video views.

Takeaway: Music-centric brands have built-in advantages when creating engaging video content. But any brand can boost viewership by incorporating popular music into videos.

(Source: Demand Sage 2022)

14. 30.6% Favorite How-To and Tutorial Videos

While music dominates watch time, how-to and tutorial videos tend to be more popular for educational reasons. A sizeable 30.6% of viewers say they are their favorite videos to watch online.

The popularity of platforms like WikiHow and channels like 5 Minute Crafts show that audiences love learning new skills and tips through video.

Takeaway: Brands that can teach viewers how to use products or develop skills have an advantage. Demonstration videos and tutorials win fans and votes of trust.

(Source: Demand Sage 2022)

15. 79% Purchased Software After Watching a Video

Product and service videos don‘t just introduce what you‘re offering. They can directly convince people to buy. According to one survey, a convincing 79% of respondents said they purchased downloadable software after viewing an explainer video.

Seeing the software in action in a natural setting resonated with potential customers, driving conversions.

Takeaway: Don‘t just tell people what your product does, show them. Software companies should invest heavily in video demos showing real-world usage and benefits.

(Source: HubSpot 2022)

16. 92% Share Mobile Videos With Friends

Video sharing is especially popular on mobile. A whopping 92% of mobile video viewers report sharing funny or interesting videos they find with friends and family.

The rise of apps like TikTok (iOS and Android) made it simple to consume and share videos you love while on the go. This expands your brand‘s potential reach.

Takeaway: Optimize your video content for mobile viewing, and make sharing easy. Add captions for silent watching. Produce snackable content ideal for phone viewing.

(Source: WebFX 2022)

17. Video Ad Spend to Reach $176B in 2024

As video marketing grows, budget dollars are following. Analysts predict that total video advertising spend will reach a staggering $176 billion globally by the end of 2024.

This ad spend encompasses dedicated video platforms like YouTube, social video ads, and OTT/CTV video ad inserts. Spending is projected to top $134 billion by 2027.

Takeaway: For brands with advertising budgets, buying video ad placements needs to be a priority. You‘re missing out on billions of video ad impressions if you‘re not in the mix.

(Source: Statista 2024)

Video Marketing FAQs

What is video marketing?

Video marketing is the use of video content to promote a brand, product, service or idea. Like written content marketing, it educates and provides value to viewers. But video‘s visual format makes storytelling more dynamic.

What‘s the importance of video marketing?

Because of its engaging format, video marketing can break through the noise and effectively reach, educate and convert target audiences. Video builds trust and enhances brand image.

What types of videos are best for marketing?

Explainer videos, product demonstrations, customer testimonials, behind-the-scenes footage, interviews, branded storytelling, tutorials and live events are all excellent video types for marketing.

How can I create effective marketing videos?

• Focus on providing value to the viewer above all else
• Keep videos concise, under 2 minutes for social media
• Leverage data and statistics on video marketing trends
• Produce high-quality video optimized for mobile
• Promote your videos across all relevant platforms

Conclusion

The data leaves no doubt about the importance of video marketing. With billions watching online video daily across platforms, video presents a tremendous opportunity to grow brand awareness, engage audiences, generate leads and drive sales.

Follow the latest video marketing statistics and ramp up your video content efforts in 2024. With the right strategy, video can become an invaluable part of your marketing mix.