In 1996, Bill Gates published an essay titled "Content is King." It's easy to believe that such a paper written today would be titled "Video Content is King" after looking at the video marketing statistics for 2022.
Over the last decade, video marketing has gone from novelty to necessity – a crucial path to the over 200 million video viewers in the United States, 54% of whom say they want to see more content from the brands and businesses they support (Oberlo).
Looking at this statistic alone, it's no surprise 86% of marketing professionals are using video as a marketing tool, and over 90% say it's an important part of their marketing strategy (Wyzowl).
Taking a further look into the key 2022 video marketing statistics can help you understand what's working in video marketing, why it's worth the investment, and how you can set yourself up for success in 2023.
Manufacturing Video Marketing Statistics
Video Content Statistics for Consumers
Consumers like video. It’s a sensory experience that connects with audiences more readily and effectively than other forms of content. Perhaps that’s why online video consumption has almost doubled in the past four years, going from 1.5 hours per day in 2018 to over 2.5 hours per day in 2022 (Wyzowl).
Once considered an extra, the following 2022 statistics prove video has become an expectation for consumers exploring a product or brand:
- 73% of consumers prefer video over any other format for learning about a new product (Wyzowl).
- 88% of people say a brand video convinced them to buy a product or service (Wyzowl).
- 90% of consumers say video has helped them make buying decisions (Oberlo).
- 64% of consumers report that product videos make them more likely to buy the product (Oberlo).
Due to the growing demand for video content, manufacturers have become more experimental than ever with the different types of videos used to market their products and services. From ads to explainer videos, product tests to testimonials, demonstrations to presentations, tutorials to reviews, video has become a staple of online marketing used to engage viewers and increase sales.
Video Content Statistics for Marketers
What do marketers think of video? How does it affect sales and marketing alignment, sales enablement, and overall growth? Below are some impressive video content statistics for marketers.
- 81% of marketers say video has directly helped them increase sales (Wyzowl).
- Video marketers report 66% more qualified leads and a 54% increase in brand awareness (OptinMonster).
- Video marketers experience 49% faster revenue growth than competitors not using video (Wordstream).
- Ad message retention for videos is 95% compared to 10% for print messaging (Wordstream).
Compared to other industries, video is a particularly powerful marketing tool for manufacturers because of its ability to visually showcase products and services in action. It allows potential customers to understand the benefits that may be less easily represented through a still photo or written product description.
Investing in video marketing
With 14% of marketers saying their marketing videos cost $7,000 - $10,000 to produce and 31% saying it takes an average of two weeks to create a video, there’s no denying video marketing is an investment. However, this investment is showing great returns.
According to Wyzowl, 88% of video marketers were beyond satisfied with their return on investment, and 99% who used video marketing in 2020 continued using video in 2022. This is a drastic increase from the 33% who felt this way in 2015, which may be attributed to a better understanding of using video and tracking its impact.
The following 2022 statistics prove the time to invest in video marketing is now:
- 93% of marketers say video has helped them increase brand awareness.
- 87% of marketers say video has helped them increase traffic.
- 86% of marketers say video has helped them generate leads.
- 87% of marketers say video has helped them generate good ROI.
While 69% of marketers in 2022 claimed the biggest benefit of creating video in-house was creative control, 42% said creating video content through an agency has resulted in better videos and overall reach and conversions. It’s no surprise that 42% of companies said they use a hybrid approach between an in-house marketing team and an agency (HubSpot).
Looking for some more strategic, data-driven guidance for your 2023 video marketing campaign? We are here to help you through the process. Learn more!
Social Media and Video Marketing
While your manufacturing company’s website is a great platform for marketing videos, social media has become a major area of growth in video marketing. There are 2 billion video views on Twitter alone in a single day!
Below are some impressive statistics showing the positive impact of posting videos on different social media platforms.
- YouTube — 70% of viewers have made a purchase after seeing a brand on YouTube (The Social Shephard).
- Facebook — 62% of Meta apps stories express increased interest in brands or products they’ve seen in stories (Facebook).
- Instagram — 70% of users swiped up on ‘story’ ads to access a promoted website or product (EarthWeb).
- TikTok — TikTok ads reach 17.9% of all internet users aged 18+ (Hootsuite).
- LinkedIn — Brands advertised on LinkedIn have seen a 33% increase in purchase intent (LinkedIn).
When it comes to the top social media platform consumers prefer, YouTube may take the lead with over two billion monthly users and over one billion hours of video content played daily. However, LinkedIn may be a sleeping giant for manufacturing companies, as it offers a niche audience.
While LinkedIn has significantly fewer users than YouTube or Instagram, almost 80% of manufacturing marketers consider it twice as effective for achieving their desired marketing goal.
The platform is particularly effective in the manufacturing industry because it allows marketers to target users by profession, job title, industry, or past and present employer. What’s more, LinkedIn claims to reach more than 65 million business decision-makers and 54% of senior executives share work-related videos with colleagues weekly. This is some serious reach potential.
Pro-tip: Make sure your LinkedIn video educates first and sells later. The optimal length should be between 30-90 seconds, and consider starting your video with a question to hook your audience
Measuring Video Marketing Efforts
The following are benchmarks and metrics that can provide insight into how your video marketing campaign is performing, helping you understand what’s working and where you can improve.
- Conversion rate — Measures how well your video persuades viewers to convert to a lead or new customer.
- View count — Measures the total number of “plays,” indicating your video’s reach.
- Average view duration — Measures how long viewers are watching your video before losing interest.
- Social sharing — Measures how often viewers are sharing your video across social media platforms.
- Click-through rate — Measures how well your video encourages viewers to take a specific action, like clicking on a call-to-action button.
Determining which metrics are most important depends on the goal of your video marketing campaign. For example, measuring your social sharing will be the most valuable if you wish to increase brand awareness. If your goal is to drive viewers to take a specific action, then you should measure your click-through and conversion rates.
Pro-tip: If your click-through and conversion rates are low, consider placing your call-to-action at the beginning or middle of your video.
Did you know you can compare your company’s overall marketing performance against 400+ businesses (for free) in a B2B HubSpot Marketing Benchmark Group? Join today to receive invite-only access to our new HubSpot Marketing for Manufacturing Companies Benchmark Group!
The Best Types of Video Marketing For Manufacturers
There are various impactful and effective video marketing strategies. Below are some of the most powerful types of marketing videos for manufacturing businesses.
- Product manufacturing and explainer videos — Highlights the manufacturing process of a product and the product’s attributes and key qualities (landing pages with explainer videos convert 86% better, and 73% of consumers say they purchased a product after watching an explainer video).
- Product demo videos — Builds knowledge and understanding of your product and everything it can offer potential customers (69% of consumers believe a product demo best assists them when making a purchase).
- Testimonial videos — Validates your product’s success through a customer’s words and emotions. These videos provide honest feedback about your products and allow customers to picture themselves using your services.
- Virtual tour videos — Builds credibility by sharing your manufacturing company’s facility, equipment, and culture. These videos can promote your business and brand by showcasing your workers in action or your state-of-the-art manufacturing equipment.
- Recruiting videos — Showcases your company culture and brand image. Providing current employee testimonials can help show prospective employees what it’s like to work for your organization.
Take a deeper dive into the different types of marketing videos you can use for your manufacturing business here!
Video Marketing Trends for 2023
Marketers agree the importance of video will only continue to grow in the coming years and paying close attention to video marketing trends is key to any successful campaign. The following are trends you should consider implementing into your manufacturing company’s 2023 video marketing campaign:
- User-generated content (UGC) — Real people talking about your product (testimonials or demonstrations) are perceived as more authentic than branded content.
- Educational videos — Informational content like online courses and webinars make your product and brand more approachable and understandable.
- Virtual events — A practice that grew out of necessity during the pandemic, virtual gatherings remain popular as they make your product and presentation accessible to a worldwide audience.
Pro-tip: Offering a free educational video or virtual event admission in exchange for information like a potential customer’s email address is a great way to gain valuable lead information you can use in other marketing efforts!
Creating Effective Video Content
It’s not enough to create any video and post it to your website or social media platforms. Every video you produce must have a clear direction to meet a desired end goal.
Looking at how your past videos performed and investing in a reputable marketing video production agency are great ways to ensure your marketing strategy is constantly improving and you get the best return on your investment.
Considering your first marketing video or looking for advice on the best way to expand your current video marketing campaign? Don’t do it alone! Reach out to us. We’re happy to help.