Producing quality videos for your ecommerce site is hard, we know. Equipment is expensive, and specialists who know how to use that equipment cost even more. For that very reason, many ecommerce businesses will settle for photos and graphics just to get the job done.
These video marketing statistics show that video might just be an investment worth making. Sure, you’ll have to dig a little deeper into those pockets at first, but the results will return more than you dreamed.
Product Video Stats Marketers Need to Know
1. Video is the #1 content type used by marketers to sell products and services.
In our Not Another State of Marketing Report, marketers surveyed said that video is the top content type being produced in their content marketing programs, passing blog posts for the first time ever.
2. More than half of marketers invest in some sort of product-related video.
Also in the HubSpot report noted above, we found that nearly one quarter of marketers invested in product promotion videos, while nearly one fifth invested in product demos.
3. 73% more visitors who watch product videos will make a purchase.
Did you know that your products are more likely to sell if you create videos for them? There are quite a few reasons for this, which we’ll cover in the next points. The most important thing to note, however, is simply that videos for your products do prompt more purchases. That’s really the biggest and most important statistic you need.
4. 92% of marketers who use video say it’s an important part of their marketing strategy — up from 78% in 2015.
According to the late-2019 Wyzowl Survey that polled marketers about their video tactics, the number above was up from 78% in 2015. With a stat like this, there’s almost no question that marketers are finding video valuable and worth their investment.
5. 71% of consumers prefer video over other marketing content.
When consumers feel like they understand the products you sell, they’re more likely to take a chance on spending their money. Video clears up a lot of that confusion. Isn’t that what your marketing is all about, anyway? Answering questions with quality content?
6. 87% of Gen Z prefers branded videos or ads that show someone talking about a product.
Gen Z is one of the most digitally connected, and most budget-conscious, generations out there. And, as they reach full purchasing potential, you’ll want to keep their buyer’s journey behavior in mind.
As people in the age group research products, they’ll look for video-based ads, demos, tutorials, unboxings, or video reviews from influencers in order to see how well the product works and what it looks like in real life.
7. 55% of consumers use videos for purchase decisions.
While Gen Z most heavily relies on videos to research products, other age groups aren’t that different. More than half of people in all age groups use video to make a purchasing decision, according to 2019 data from Google.
Ultimately, authentic videos can lead to a greater sense of trust. By providing product videos, you give buyers quality information that doesn’t hide behind good angles and lighting. They understand the products they’re ordering and are happier with their purchases. With every great transaction, you build more and more trust.
Video Stat Knowledge Check
Think you know your video stats? Test yourself with the interactive quiz below to see how well you soaked in the details above. Try not to peak as you answer each question:
Creating an Engaging Product Video
A consumer who trusts your business is worth the investment you’ll make in product video production, isn’t it?
If the stats above have intrigued you, and your ready to invest in your first product video, consider what you’d like to try out first. Here are a few examples of product video formats:
- Demos/Tutorials: These videos walk through how the product or service works so a consumer can see how it functions in a real-world setting.
- Influencer Marketing Videos: If you don’t have the time to produce product videos, but do have some budget to work with, you could consider hiring a macro or micro influencer to post a video on their networks where they talk about or promote your product.
- Ads or Video Promotions: These videos are often shorter than tutorials. They merely highlight the product or service and all of it’s great features, but don’t necessarily need to go into full detail about how it works.
- User-Generated Content: If you have happy customers that are using your product or service, encourage them to film a video review or unboxing that you can then share publicly over social media or on your website. When others see a real person talking about success they had with your brand, they might be more willing to trust your offerings.
To learn more about video marketing, check out this handy ultimate guide.
Editor’s Note: This blog post was originally written in February 2016, but was updated in July 2020 for freshness and comprehensiveness.