The ULTIMATE Guide to the Benefits of Video Marketing (with stats to back it up!)
- David Odle
- Apr 26, 2023
- 5 min read
Updated: Nov 13, 2023
Hey friends! Zoya, our Producer here at MOGRAPHWORKS made a new video a little while ago: The Benefits of Explainer Videos (and 9 reasons your business needs one)!
Video marketing almost seems like a necessity these days: everybody has a video, and you're behind the times if you don't have one. Explainer videos, one of the most common types of video marketing, are the highlight of many a homepage.
But ultimately, the bottom line is what matters. Videos can be beautiful, but what kind of ROI can you expect to see... and is it worth it to make one?
Zoya went through and pulled together all the stats and research on the benefits of explainer videos and video marketing she could find (seriously, she spent like 40 hours researching this, hah!) and made a master document of all the info. They basically break down into 9 areas:
Benefits of Explainer Videos
Stats on video marketing
Increased dwell time
Email marketing improvements
Shelf life vs Cost
Increased conversion
Authority in your industry
The perfect pitch
SEO impact
Success stories
1. STATS!
So there's a ton of amazing stats on explainer and marketing videos. Wyzowl in particular does an incredible "State of Video Marketing Survey" every year and they do impeccable research. Check it out!: Video Marketing Statistics | New Data For 2023
But there's a ton of other research online too. Some of the most interesting is from a study Forbe's conducted of C-level execs and decision makers. The study showed that 60%(!!!) of decision makers will watch a 2-minute video, but will not read 2 minutes of text on that same website!!! Absolutely bonkers... because that's who you need to read your text the most!
Check out the rest of the most pertinent stats:
(click to enlarge images)
2. Dwell Time
Video increases dwell time. That seems pretty simple. People are most likely to stick around if they have something to watch. It goes back to the idea that people just aren't likely to invest time into actually reading text just to figure out if the info is relevant to them; it's better to convey your message with images and video. If you don't capture your visitors in the first few seconds, they're gone. In today's internet where everyone is fighting for your prospect's attention, you better take every advantage you can to keep their attention... especially if you're paying for those clicks! Otherwise, you're just flushing that money away.
3. Email Marketing
I'll save you the whole to-do and just tell you that email marketing is seriously improved when you have video. Any chance to "warm-up" your leads, especially if you're emailing cold, is another win in your corner. I mean, the word "video" alone in a subject line increases opens by a huge margin! That's not even having a video in the darn email! That's how much more likely people are to consume video. Open-to-reply rates go up by 8x when video is used in an email. So you're more likely to actually get a response using video. Hurrah!
4. Shelf life VS cost
Video is actually a really inexpensive form of marketing... because you could be using this video forever if you really wanted to. When you consider the cost per month over the life of the video, it's a pittance compared to adwords or SEO optimization (which you pay for every month!) Let's say you pay $6000 for your video, and let's conservatively say you use the video for 2 years, you're only paying $250 a month. And because animation is so easy to update over time, if you change your branding or logo down the line, you can update the video for about $500 and have it ready to go for another 5 years.
5. Increased conversion
The big one: increased conversion! As we discussed earlier, websites using video have 65% higher conversion rates. If conversion is dependent on a visitor being able to actually understand that the product will benefit them and give them the "shut up and take my money" feeling, then you really need to be disseminating that info to them as easily as possible. They're not going to crawl through a bunch of text and tons of different pages just to find out a product or service isn't the right fit for them. Make it easy on your customer and respect their time! It seriously increases conversion.
6. Authority in your industry
Consumers are going to get their information somewhere. If you don't have the information they need easily accessible and easily digestible, they're going to seek it out on youtube or a competitor's website. You want to present yourself as the authority in your industry, experts who know what they are doing, a trusted source of information on your company... that they feel comfortable purchasing from. We all know that sales is about increasing trust and reducing skepticism. A well-made marketing video leaves the customer thinking "wow, they actually took the time to make a video, they probably actually care about their customer and take the same care and excellence in other parts of their business." It's a subconscious "we do good work" that you get when you see a well-designed website. You don't get a second chance to make a first impression, you know.
7. The perfect pitch
An explainer video is the perfect pitch, every time. And because it is a perfect pitch, it has a ton of other use cases outside of a homepage video. Sales presentations, trade shows, outbound sales, social media, etc etc etc. And remember, they're going to get this information somewhere. Do you want it to be from a competitor or some youtuber? Or would you rather it come from you?
8. Impact on SEO
Google cares about video WAY more than text. It values video more than 50x!!!! higher than text. So if you want to optimize that SEO, you better get a video. Not even considering the fact that more people are likely to watch it, it's just another way to optimize those dollars you spend per-click.
9. Success stories
And finally we have some famous video marketing success stories. Of course, having worked in the industry for almost 20 years, we at MOGRAPHWORKS have our own success stories... one off the top of my head was a focused video marketing effort that lead to over 3 million in closed sales within 3 months for one client. They only paid $25k for their video series. Talk about a great return on investment! But anyway, below are the most famous successes. Crackitt.com has a great post compiling even more of these success stories, and I'd definitely take a look at that: Top Ten Explainer Videos and Why They Are Good | Crackitt
In the meantime, check these out:
In closing: if you don't currently have a video, you really need one.
Or at the very least could seriously benefit from one. As with many types of marketing, it's hard to concretely predict the precise ROI you should expect, but I think it's safe to say that a well-made video is a solid investment that has the potential to knock the roof off your conversion!
If you're considering making a video, we at MOGRAPHWORKS would be happy to help! We provide full-service production with a seamless process that is smooth, stress-less, and (if I may say) fun! We never use templates, don't hire out to to ghost animators, and never leave you hanging. If you're sick of unanswered emails or agencies that make you sit in on dozens of endless calls to a bunch of different people where you repeat yourself over and over, reach out to us! We crush it with our customer service and our long list of happy clients speak to that!
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