The State of Video Marketing in 2021 [New Data]

It is properly established that video has been one of many breakout traits within the advertising and marketing world for the previous decade.

However how is that assertion standing as much as the twists and turns of a world pandemic? 

The challenges — and modifications — caused by this most surreal yr have affected us all. 

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

We just lately launched our seventh State of Video Marketing report and, in mild of the chaos of the previous yr, 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, general, rising barely all through 2020, and plans to extend once more within the subsequent 12 months.
  • The pandemic has impacted the video advertising and marketing panorama in contrasting methods – whereas video is mostly seen as a extra obligatory device by each entrepreneurs and customers, many have seen budgets restricted and plans shelved.
  • The pandemic has overwhelmingly elevated the quantity of on-line video folks watch.
  • Entrepreneurs really feel extra constructive concerning the return on funding provided by video than ever, because it continues to strongly affect 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 yr forward.

Concerning the Survey

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

This time spherical, our survey was taken by a pattern of 813 distinctive respondents (our highest ever pattern) consisting {of professional} entrepreneurs and customers.

The important thing findings …

86% of companies use video as a advertising and marketing device, up barely from 85% in 2019.

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

What’s extra, 93% of entrepreneurs who use video say that it is an essential a part of their advertising and marketing technique — a rise from 92% in 2020, making this the best proportion of any yr since 2015.

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 manner in 2015. This might properly be attributed to better understanding of tips on how to use video, in addition to tips on how to monitor and quantify its influence

Pandemic Impression

So what concerning the influence of the worldwide pandemic? 

Let’s start with the truth that 91% of entrepreneurs really feel the pandemic has made video extra essential for manufacturers.

A reasonably appreciable 40% of video entrepreneurs stated their plans to create video have been affected by the occasions of the final yr — with round 74% of those saying they have been extra doubtless to make use of video, and 26% saying it was much less doubtless. 

Round 60% of video entrepreneurs say they count on their finances to be affected for 2021, with round 70% of these folks anticipating the next video advertising and marketing finances, and the opposite 30% anticipating it to be decrease.

68% of customers say the pandemic has impacted the quantity of video content material they’ve watched on-line, with the overwhelming majority (96%) saying this has elevated.

Trying ahead …

All of the indicators counsel that utilization and spend are on the right track to proceed their development in 2021.

Greater than 99% of present video entrepreneurs informed us they will proceed utilizing video in 2021, and 96% plan to extend or keep their spend (once more, up barely from 95% final yr.)

What’s extra, from the individuals who informed us they do not at present use video, 69% informed us they count on to begin in 2020. (That is 10% greater than final yr’s determine of 59%.)

 

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

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

The massive alternatives …

You would be forgiven for these numbers and feeling that video is likely to be on the verge of reaching saturation level. Many of the information round utilization, spend, and client opinion are within the 80s and 90s — the place they’ve held, persistently, for a variety of years.

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

Unsurprisingly, YouTube and Fb are essentially the most extensively used platforms amongst video entrepreneurs — utilized by 87% and 70%, respectively. 

However a number of the lesser-used video ways additionally appear to be reaping actual outcomes for video entrepreneurs.

Most notably, maybe given world occasions and an elevated need for distant connection, 2020 appears to have been the yr of the webinar. In 2019, simply 46% used webinars — however in 2020, this rose considerably to 62%.

What’s extra, an awesome 91% of webinar entrepreneurs say they have been a hit, making it the simplest video advertising and marketing channel of all these listed.

To Sum Up

The occasions of 2020 did, and are doing, little to gradual the rise of video. 

In some ways, with folks being remoted of their properties, and a few groups working with much less budgeting and sources than pre-pandemic, the demand (and consumption) of video has been accelerated.

Video seems 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 virtually universally in style amongst each entrepreneurs and their audiences, serving to obtain a variety of extremely essential objectives.

You possibly can take a look at the total report — with loads extra information factors — and get a downloadable model by visiting Wyzowl’s State of Video Marketing 2021 page.

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