Video has been one of the breakout trends in app and mobile marketing over the last few years. But how has the economic downturn affected marketers’ priorities and which types of video do marketers prefer? A survey of over 500 professionals and consumers conducted by video production experts Wyzowl finds out.
Everyone’s using video for marketing
A whopping 91% of businesses use video as a marketing tool in 2023, up from 61% in 2016. The app and mobile ad format is now one of the most popular formats with 96% of businesses considering it an important feature of their marketing strategy.
With the pandemic fuelling a rise in users watching video on their mobile devices and computers, almost a fifth (17%) of marketers started using video ads in 2022. But users aren’t the only reason driving up spending on video.
41% of advertisers who used video for marketing for the first time last year said they did so because it had become easier to create video in-house and 39% did so because they found it easier to convince others in the business on the value of video content. Video has also become quicker and less time-consuming to create (34%) and it’s now more affordable (30%).
Reasons for starting use of video ads
Source: Wyzowl
The time it takes to create video is actually of the biggest hurdles among businesses who aren’t yet producing video content (30%). This may represent a unique opportunity for ad tech providers to target marketers. Other hurdles include not knowing where to start (18%) or justifying the expense of video (10%). Nevertheless, 70% of non-video marketers plan on starting online video marketing this year.
Live action videos on social media
Advertisers are using a range of video styles to engage audiences including live action (66%), recorded (57%) and animated (55%) videos. The vast majority of videos are either social media videos (71%) or explainer videos (70%). But the study shows that businesses are creating a vast range of video styles.
Types of videos business prefer to create
Source: Wyzowl
Marketers have embraced the accessibility of inexpensive or even free video marketing. And cost is a big factor as videos can be pricy. 42% of experts spend between $0-500 on an average video while 18% spend up to $1,000. Just 4% of marketers spend $20,000 or more on an average video.
Two-fifths of marketers think video is becoming more expensive compared to 26% saying it’s becoming less expensive.
Success are views and engagement
So how exactly do business judge the success of their video campaign? The majority (63%) of respondents said that video views and audience engagement (61%) were their top ROIs on video. Leads and clicks (56%) are also important metrics as are awareness metrics (43%).
Views and engagement are the measure of success
Source: Wyzowl
Splitting open engagement, 96% of marketers said that video increased user understanding of their product or service. And a whopping 95% consider video to help with raising brand awareness while 91% saw increased traffic.
Leads (90%) and sales (87%) were also boosted thanks to video.
Wyzowl also surveyed consumers. 89% of users said a video had convinced them to buy a product or service. A majority of 91% would like to see more online videos from brands. In fact video is a preferred shareable content for 51% of people followed by social media (26%).
Users share videos the most
Source: Wyzowl
Key takeaways
- 91% of businesses use video as a marketing tool in 2023, up from 61% in 2016
- 41% of advertisers who used video for marketing for the first time last year said they did so because it had become easier to create video in-house
- Live action (66%) and social media videos (71%) or explainer videos (70%) are the top styles and formats
- 42% of experts spend between $0-500 on an average video
- 63% measure success in video views and audience engagement (61%)
The post Why 96% of marketers use video for app and mobile marketing appeared first on Business of Apps.
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