What Makes Internet Video So Important To Businesses Today?

What makes Internet Video so important to businesses today? For starters, according to ComScore, the average internet user is exposed to 32.2 videos per month, while over 100 million users watch online videos every day. Online videos now accounts for 50 percent of all mobile traffic and up to 69 percent of traffic on certain networks. This is all great, but what does that mean for businesses? First of all, 52 percent of consumers say that watching product videos makes them more confident in online purchase decisions.

After watching a video, 64% of users are more likely to buy a product online, according to ComScore. In fact, studies show that viewers retain 95% of a message when they watch it in a video compared to 10% when reading it in text.

But are these users quality viewers? Actually, yes. According to Forbes, 75% of executives watch work-related video on business websites at least once a week, and 65% of them visit the marketer’s website after viewing a video. Forbes also points out that 59% of executives would rather watch video than read text.

If you want conversions, Animated explainer videos are the way to go, Unbounce states that they actually increase conversion rates by 20%. Plus, according to Rhythm and Insights, combining video with full page ads boost engagement by 22%. But with all of this said, only about 24 percent of national brands are using online video to market to consumers.

Still not convinced? Borrell Associates anticipate that Online video production will account for more than one-third of all online advertising spending within the next five years. By 2016, Online video users are expected to rise to 1.5 billion, which means that globally, online video traffic will be 55 percent of all consumer Internet traffic in a little over a year.

Ready to start considering Online Video for your business? Give us a call at (800) 454-9103, or visit us on the web at DrivenLocal.com to find out everything we can do to help. Check out the following video for more information!