Video Marketing Statistics 2023
We gathered the video marketing statistics below by surveying 528 unique respondents in November 2022. Our sample included both marketing professionals and online consumers. We separated these groups with a preliminary question, ensuring that respondents were only asked to answer the questions relevant to them.
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Section 1: Video Marketing Usage
Reasons for not using video marketing…
When we asked businesses which ❌DON’T❌ use video as a marketing tool, the main reason why this was the case, they answered as follows…
First time video marketers17% of video marketers said they used video for the first time in 2022 https://www.wyzowl.com/video-marketing-statistics/#stat-1-5 Tweet this stat When we asked marketers who used video for the first time in 2022, why they had decided to take the plunge, we received a wide variety of responses…
Our analysis…Video continues to be a widely used marketing tool – trusted by around 9 out of 10 businesses. To put it simply, more businesses are using video than at any point in the past 9 years. Reasons for not using video were split widely, but a lack of time was clearly the most commonly cited obstacle. Video usage looks set to increase still further in 2023, with current marketers almost unanimously planning to continue their video marketing efforts over the next 12 months – and 70% of current ‘non-video-marketers’ looking to get started.
Section 2: Types of video created
Our survey reveals that brands create a pretty even split when it comes to video style.
📢 46% of marketers created video ads in 2022.
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Our analysis…Although social media marketing videos and explainer videos stand out at the top of the pile here, what’s notable is the sheer volume of different types of video used by businesses. A dizzying array of internal and customer-facing functions are being supported and enhanced through the use of video, which is great to see.
Section 3: Video marketing – The financials
Our analysis…It’s clear that a significant proportion of video marketers are embracing the increasing accessibility of inexpensive, even free, video marketing channels, with an overwhelming majority spending little or nothing on their typical video content output. Outside of this, where brands DO decide to spend more on their video, there clearly seems to be a sweet spot in that $1k-$5k per video ball park. But, as always, there’s a small but significant handful of brands willing to go further, and run a higher video marketing budget. Ultimately? Marketing video has a broad range of different price tags and is increasingly accessible to lots of different types of business.
Section 4: ROI: What does success look like?
How do video marketers judge ‘success?’
“You can’t improve what you don’t measure.” So we set out to understand the metrics marketers use to evaluate the success (or otherwise) of their video marketing efforts.
Our analysis…Video views are the most widely used barometer of whether a video has been successful. It seems the one thing marketers DON’T want for their content, above all else, is for it to be ignored.
ROIWe asked marketers who used video marketing in their strategy for 2022, to assess how video had impacted their key marketing metrics. They answered…
Our analysis…Almost across the board, we’ve seen increases in key video marketing statistics this year, perhaps representing improvements in the way brands understand and implement their video marketing strategy. Next in the hierarchy of video marketing needs, is that people take action: likes, shares, comments and clicks are all highly prized by our respondents. What’s interesting is that as we move down the list, the goals become more ‘tangible’ business goals. Bread-and-butter metrics like sales and retention are still perhaps neglected as video marketing metrics – perhaps because they’re a LOT harder to attribute and quantify than simple things like views, likes, shares and comments. It’s also a fairly interesting statistic that, in an industry as scientific as marketing, 11% of video marketers (more than 1 in 10) don’t really track the ROI of their video campaigns.
Section 5: The customer view…
This data highlights the extent to which video content is used by customers in all aspects of their online lives. From watching explainer videos to learn about products, services and apps, to being convinced to make purchases, to sharing with friends, the numbers illustrate the dominance of video in online interactions. They demonstrate video’s position as a key part of the online customer journey and highlight the importance of video in any online marketing strategy.
Section 6: Video marketing channels
The 🎉 MOST WIDELY USED 🎉 video marketing platformsAs you might expect, YouTube is the most widely used video marketing platform with 90% of video marketers trusting the world’s #1 video site. Next up is Facebook (86%), followed by Instagram (79%) and LinkedIn (also 79%) as a string to their video marketing bow.
There are a number of tools and platforms that are VERY seldom used by video marketers!
At the top (or is that the bottom?) of this list, you might expect to see niche platforms like 3D Video/Augmented Reality (used by 15% of marketers) Virtual Reality (13%) and 360 Video (17%)…
But there are some surprises here too. Snapchat, once heralded as the next big thing in video marketing, is used by just 13% of brands. TikTok, a social media phenomenon, fares a little better, used by 35% – although this still feels lower than one might have expected.
Twitter usage as a video marketing tool is also really low for an established tool – just 54% of marketers have used it.
The 👎 LEAST WIDELY USED 👎 video marketing platforms
The 🤩 MOST EFFECTIVE 🤩 video marketing platformsWhen it comes to effectiveness among video marketers as a whole, YouTube (rated effective by 78% of video marketers), LinkedIn (69%) and Instagram (67%) win the day. However an interesting way to look at this is to isolate the number of marketers enjoying success with a channel, as a proportion of the people who are actually using it. Through this lens, tools like interactive video, webinars, and TikTok come through extremely well here.
The ☠️ LEAST EFFECTIVE ☠️ video marketing platformsThere’s no dancing around it: Twitter as a channel for video marketing has taken a real pounding from our panel. Among those who’ve used Twitter as a video marketing channel, more people say it’s been ineffective than those who say it’s been effective. Snapchat, too, continues its poor performance, with a little over half of the members of our panel who use Snapchat reporting it to be ineffective.
Live video content still largely unadopted by brandsOnly 36% of marketers have published ‘live’ video content such as live streams on social media channels.
Our analysis…Our findings here suggest a similar picture emerging for the coming year in terms of the platforms used and trusted by marketers. The trusted mainstream video channels – YouTube, LinkedIn, Instagram and Facebook – look set to continue to dominate when it comes to video marketing strategy.
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