Explainer videos have evolved as a powerful tool in today's digital landscape, transforming complex ideas into engaging and digestible content. As their popularity surges, so does the need to understand their impact and effectiveness. Here, we delve into the compelling world of explainer video statistics, uncovering insights that drive their relevance and influence.
The global video hosting market size was valued at USD 5.97 billion in 2020 and is expected to grow at a CAGR of 18.3% from 2021 to 2028, according to a report by Grand View Research. Explainer videos are a significant contributor to this growth, fuelled by their ability to captivate audiences and communicate intricate concepts effectively.
Impact of Explainer Videos on Viewership and Engagement
According to a study by Wyzowl, 72% of consumers prefer video content over text. This preference translates into significant viewership and engagement for explainer videos.
Google's own data shows that over 500 million hours of video are watched on YouTube each day. Given that 60% of those views originate from mobile devices, it underscores the importance of video content in today's mobile-driven world.
Video Consumption and Mobile Usage
Cisco predicts that IP video traffic will account for 82% of all consumer internet traffic by 2022, highlighting the dominance of video content. Moreover, mobile video traffic is expected to increase by a factor of 264 between 2017 and 2022, reiterating the sway of mobile usage.
A report by App Annie reveals that by 2021, mobile app users will watch over 100 minutes of video per day, demonstrating the extensive reach and engagement of videos on mobile platforms.
Consumer Preference and Video Marketing Effectiveness
84% of consumers limited their internet usage to watching videos, with 65% stating they've watched more videos in the past two years than ever before, as per a Limelight Networks study. This trend emphasizes consumers' increasing appetite for video content.
In terms of marketing effectiveness, 76.5% of marketers and small business owners who have used an explainer video say it provided a good return on investment (ROI), as per a 2021 report by Wyzowl. Additionally, 41% of marketers report that explainer videos have helped them improve the understanding of their product or service, demonstrating their educational value.
Explainer Videos and Business Growth
Explainer videos are not only engaging to viewers but also presents a significant business opportunity.
A report by IMPACT found that businesses using explainer videos grow revenue 49% faster than organizations without them. Also, 83% of businesses that use video marketing report a positive ROI, as per a survey by eMarketer.
Video Marketing Adoption and ROI
According to a report by Statista, US digital video ad spend was projected to reach $55.50 billion in 2021, indicating a growing adoption of video marketing strategies, including explainer videos.
88% of small business owners who use video marketing say it gives them a good ROI, as per a survey by Animaker. This is a testament to the business value of explainer videos, reflecting their role in driving growth and profit.
Customer Preference and Video Communication
88% of customers who use video to research a product or service before buying said they had purchased based on that video, as per a report by Fullscreen. This highlights the role of explainer videos in influencing purchasing decisions.
84% of marketers say they’re satisfied with the ROI of their explainer video efforts on YouTube, as per a recent survey. This satisfaction indicates that businesses perceive explainer videos as an effective tool in communicating their brand's story.
In the rapidly evolving digital landscape, explainer videos have become an essential communication tool, offering businesses unparalleled opportunities to connect with their audience and drive growth. As video consumption continues to rise, especially on mobile devices, the role of explainer videos is likely to become even more pronounced. So, are you ready to harness the power of explainer videos for your business? The data suggests now might be the perfect time.