YouTube’s recent stats are staggering: 100 hours of video are now uploaded per MINUTE! Web video is the fastest growing segment on the internet, so what are companies doing about it? Some are embracing it, some are ignoring it, but the facts don’t lie. Here are some recent stats on web video and why you as a CEO or marketing person should pay close attention:
- 60% of people prefer watching video over reading text —Forbes
- 42% of business people who watched a video purchased a product —IDG
- 70% of B2B business are using video as a marketing tactic —Marketing Profs
- Video increases the chance of a front-page Google result by 53x —Forrester
- 66% of respondents spend more than one hour per week watching mobile video—Business2Community
With the onset of new devices and advanced iPhones, the temptation is there to create a video ‘in-house’ and just post it on your website or for use through social media. Proceed down this route with caution. If you’re a very small organization and designed your own website and brochures then this is likely acceptable. However if you hired a reputable firm to design your site and your brochures – doesn’t it make sense to use the same practice and professionalism when designing your next web video? Not sure if a video is a fit for your company? Here are 51 ways companies are currently using video: http://onemarketmedia.com/blog/2011/01/51-ways-to-use-web-video-to-help-your-business-grow/
According to Cisco, video communications will become more popular than any social media networks including Twitter and Facebook. Cisco also predicts that by 2017, web video will be viewed by more than 80% of the world’s Internet users – that’s 2 billion global users! Here are a few other stats from Cisco:
- Online video will account for 69% of consumer internet traffic by 2017 (up from 57 %in 2012).
- Mobile video will grow 16 x from 2012 to 2017, and account for 66%of all mobile data traffic during that year.
Whether you embrace the power of video or still subscribe to print (you are after all reading this article!) you can’t argue with the facts. Video is going nowhere but up. What are you doing about it?