It is effectively established that video has been one of many breakout developments within the advertising world for the previous decade.

However what’s taking place in video advertising proper now? And the way does its progress and success stand as much as the twists and turns of a worldwide pandemic? 

At Wyzowl, we have launched an annual State of Video Advertising and marketing survey yearly since 2015, charting utilization, spend, channels, and opinions amongst video entrepreneurs and customers. 

We lately launched our eighth State of Video Advertising and marketing report and, in mild of the chaos of latest years, it is maybe our most fascinating set of findings but.

Our analysis suggests:

• Video stays a key precedence for entrepreneurs with utilization and spend each, total, rising in 2021, and plans to extend once more within the subsequent 12 months.
• The pandemic continues to impression video advertising plans — however the disruption seems to be decreased in comparison with final 12 months, as folks alter to a ‘new regular.’
• Individuals are watching extra video on-line than ever earlier than – in truth the quantity of on-line video they watch has nearly doubled since 2018.
• Entrepreneurs really feel extra constructive in regards to the return on funding provided by video than ever, because it continues to strongly affect site visitors, leads, gross sales, and viewers understanding.
• Shoppers proceed to make use of video as an integral a part of their journey with manufacturers, and are excited to see much more video content material within the 12 months forward.

Concerning the Survey

Wyzowl’s State of Video Advertising and marketing Survey is an annual report, now in its eighth iteration. Yearly, we ask a variety of questions — a lot of them the identical from year-to-year — to guage how the video advertising panorama is altering and rising.

This time round, our survey was taken by a pattern of 582 distinctive respondents (solely round 7% of whom had been Wyzowl prospects) consisting {of professional} entrepreneurs and customers.

The important thing findings …

86% of companies use video as a advertising instrument, holding regular from final 12 months.

That is the excessive level in a normal story of video utilization rising which could be traced again to 2016 (the primary time we requested this explicit query on this method).

Additionally, 92% of entrepreneurs who use video say that it is an necessary a part of their advertising technique.

Maybe most strikingly, 87% of video entrepreneurs reported that video offers them a constructive ROI — a world away from the lowly 33% who felt that method in 2015. This might effectively be attributed to larger understanding of how you can use video, in addition to how you can monitor and quantify its impression. 

Most entrepreneurs really feel that video is a superb funding for lead era. 86% of video entrepreneurs say video has been efficient for producing leads, up one other 2% from 2021 and up 5% since 2019.

81% of entrepreneurs really feel that video has a direct, constructive impression on gross sales. 

94% of entrepreneurs agree that movies have helped improve person understanding of their services or products.

On measuring success, most entrepreneurs (62%) think about video engagement the highest metric. Views or performs had been a detailed second (61%). 

Whereas solely 27% of video entrepreneurs think about gross sales as a measurement of success, 81% report that video advertising has improved their firm’s backside line — that means that movies can have a constructive impression even when the main target stays on different metrics.

Pandemic Influence

Sadly, 2021 was not the tip of the pandemic – and it appears to be like like COVID is more likely to proceed to make its impression felt in 2022.

So what impression is that this having on the world of video advertising?

Nicely, 64% of entrepreneurs say the pandemic has affected their video advertising plans for 2021 and 2022. Out of those folks, three-quarters mentioned the pandemic made it extra possible they might create video, and the opposite quarter mentioned it made it much less possible. 

However, the excellent news is, the pandemic’s impression on video advertising finances appears to be diminishing. 

In final 12 months’s survey we requested entrepreneurs whether or not they anticipated their 2021 video advertising finances to be affected, and 63% mentioned they thought it will be.

This 12 months’s quantity – nonetheless excessive, at 50% – represents a substantial fall.

Trying Forward

All of the indicators counsel that utilization and spend are on the right track to proceed their progress in 2022.

Greater than 99% of present video entrepreneurs informed us they will proceed utilizing video in 2021, and two-thirds plan to extend or preserve their spend.

What’s extra, from the individuals who informed us they do not at present use video, 79% informed us they count on to begin in 2022. (That is 10% increased than final 12 months’s determine of 69% and 20% increased than the 12 months earlier than that.)

The online results of that is that we will all count on to see extra noise and competitors for viewers consideration within the coming 12 months. 

In fact, whereas oversaturation is a problem, it is not an insurmountable one. It merely raises the bar when it comes to content material high quality. Your movies will must be well-planned, and really well-executed.

The Massive Alternatives for Video Advertising and marketing in 2022

You would be forgiven for taking a look at these numbers and feeling that video is likely to be on the verge of reaching saturation level. A lot of the share knowledge round utilization, spend, and client opinion are within the 80s and 90s — the place they’ve held, persistently, for quite a few years.

However the excellent news is that there nonetheless appears to be underutilized alternatives for entrepreneurs to discover video.

It’s notable that audiences proceed to look at extra video. Our knowledge suggests the quantity of on-line video watched per week, per particular person, has nearly doubled since 2018.

And what about the place they watch it? Unsurprisingly, YouTube is essentially the most widely-used platform amongst video entrepreneurs — utilized by 88%, with a substantial hole to the subsequent widely-used.

However among the lesser-used video techniques additionally appear to reap actual outcomes for video entrepreneurs.

This 12 months we requested folks to inform us the needs of the movies they’d created. 

Explainer movies have seen great success. In addition to being the most typical ‘purpose’ of a advertising video, an amazing majority of individuals (96%) report watching explainer movies to be taught extra a few product, with 88% being swayed to make a purchase order. 

The product doesn’t should be bodily, both. 78% of individuals say they’ve been satisfied to buy an app or piece of software program due to a video.

To Sum Up

The rise of video as a advertising instrument appears inexorable.

Practically 9 out of ten folks report eager to see extra movies from manufacturers in 2021, making video a superb instrument for lead era and model consciousness. 

In some ways, with folks spending extra time at residence – working remotely – the demand (and consumption) of video has accelerated.

Video appears to be like set to proceed its ten-year in a single day success story into the approaching decade. These stats paint an image of a media kind that is nearly universally common amongst each entrepreneurs and their audiences, serving to obtain quite a few extremely necessary objectives.

You’ll be able to take a look at the total report — with loads extra knowledge factors — and get a downloadable model by visiting Wyzowl’s State of Video Advertising and marketing 2022 web page.

Editor’s word: This publish was initially revealed in January 2018 and has been up to date to mirror the most recent knowledge.