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INDEPENDENT SURVEY: VIDEO MARKETING REVIEW 2016

Marketing survey into online corporate video
This is one of the most comprehensive and compelling recent surveys analysing the use of and effectiveness of company films/video. *The survey results have been compiled by gathering information from both Marketers and Consumers.

Part 1: Responses from Marketers

Usage and Spending
61% of businesses told us they currently use video as a marketing tool. Of these, 66% were NOT using video just 12 months ago.
91% of businesses say they plan to increase or maintain their spending on video in 2016
67% of businesses say they plan to spend more on video in 2016

Analysis:
Video usage is accelerating at a phenomenal rate, but 39% of businesses, for whatever reason, are yet to add it to their marketing strategy. Spending is also on a dramatic upward curve. Only very small minority of 8% are looking to reduce their video budget.


Results and ROI
88% of businesses say that video is an important part of their marketing strategy.
76% of businesses who use video believe that it provides a good ROI.
93% of businesses who use video believe that it has increased user understanding of their product or service.
72% of businesses who use video believe that it has improved the conversion rate of their website.
36% of businesses who use video as a support tool believe that they've received fewer support queries as a result.
62% of businesses who use video believe that it has increased the amount of organic traffic they receive.
64% of businesses who use video believe that it has directly led to increased sales.

Analysis:
Video continues to perform exceptionally well against a range of key metrics. Its versatility as a marketing tool is evident from the range of benefits enjoyed by businesses who invest in its use
.

Distribution and Promotion
45% of businesses who use video say they have a video on their home page. Of these, 83% say their home page video is effective.
47% of businesses who use video use it in their email campaigns. Of these, 80% believe it to be an effective tactic.
87% of businesses who use video say they use it on social media. Of these, 78% say they believe it to be an effective tactic.
53% of businesses who use video say they don't promote it effectively.

Analysis:
The versatility of video is clear from these results, with marketers enjoying success across a variety of different channels. Home page videos are surprisingly under-utilised. With over half of businesses still admitting that they struggle to promote their video content, the true potential of video marketing is perhaps still to be unlocked.


Businesses Not Using Video
When asked the primary reason they don't use video:
42% of businesses say they plan to in the future.
15% of businesses say they don't use video because they think it's too expensive.
12% of businesses say it's because they're unclear on the ROI of video.
12% of businesses say they don't think video is needed.
10% of businesses say they lack the time or don't know how to create and promote video content.
9% of businesses say they're unable to convince the decision maker in their business that video is a worthwhile investment.

Analysis:
A clear majority of these businesses have plans to use video in the future. The other potential obstacles are all represented in loosely equal measure, suggesting that rather than one major objection, businesses are competing with a mix of them all.


Looking Ahead
85% of businesses say that it's likely they'll begin or continue using video in the future.

Analysis:
In the next year, we expect to see video become even more widely adopted.


Part 2: Responses from Consumers (Users)

Learning
Where both text and video are available on the same web page, 69% of users would prefer to watch video to learn about a product or service.
98% of users say they've watched a video to learn more about a product or service.

Analysis:
Video remains a potent learning tool and is incredibly popular among consumers. The increasing ubiquity of video content has clearly played a key part in changing consumer expectations and an overwhelming majority are now consuming video content as part of the buyer journey
.

Conversion
74% of users who watched a video to learn more about a product or service subsequently bought it.
77% of consumers say they've been convinced to buy a product or service by watching a video.

Analysis:
The results show that video is clearly a persuasive conversion tool, which plays a key role in educating customers and pushing them over the line into becoming leads or customers.


Sharing
70% of users say they have shared a brand's video with a friend, or on their social media channels.
76% of users say they would share a branded video with their friends if it was entertaining.
69% of users say they would share a branded video if it contained information that might be of interest to their friends.
65% of users say they'd share a video if it was informative.
55% of users say they'd share a video if it was inspirational.
31% of users say they would share a branded video with their friends purely because they like the brand.
Only 3% of consumers say they would never share a branded video under any circumstances. In other words, 97% of consumers would happily share a well-made video with their friends and social networks.

Analysis:
An overwhelming majority of consumers are happy to share branded video content - but it needs to be amazing and should be made professionally.


App Videos
33% of users say they've watched a video in the iOS App Store or Google Play Store before downloading. Over half of them say it helped them to decide whether to download or buy.

Analysis:
Surprisingly few consumers had actually watched video content before downloading an app - but, with many apps still opting for screenshots instead of video content, this could be a reflection on industry trends rather than consumer preference. Clearly, where video is used by consumers, it can play a key role in helping drive purchasing decisions.


Video As A Support Tool
68% of users would prefer to watch a video that explains how to solve a problem with an app or product, as opposed to calling the business and speaking to a support team member.

Analysis:
It's commonly accepted that most consumers prefer to solve their own problems rather than relying on support teams. Video is a great tool to facilitate this. It also saves the business valuable time and resources
.

Video Quality
61% of users say they have been put off buying a product after watching a badly produced video.
Of these:
37% said they were put off by the fact that the video didn't explain the product or service clearly enough.
25% said the video's low quality was discouraging.
21% found that the video was too long.
12% said the video was poorly designed.
5% cited bad animation.

Analysis:
Not all videos are created equal. As a direct reflection of your brand, it's important to create a video that's up to scratch - or you could risk alienating more than 60% of your potential customers
.

Part 3: Take the next part of the survey

The most important question you should now ask yourself
If your business is in the 39% that still isn't using video, how much better could it be if it were in the 69%?

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If you would like to explore how best to use video in your business, why not
give CorpFilms [UK] a call?
"It's what we're known for. It's what we do well"

*Source of all data and copyright permission to reproduce kindly provided by Wyzowl. Statistic gathering methodology available upon request

CorpFilms [UK] specialises in 'high-end' corporate film production. * Company Promotions * Web and Point of Sale adverts * Training, Employee Inductions and e-Learning * Product 'How to' User Guides & Demonstrations * Live Events and Award Ceremonies * Interactive Interviews
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