Video marketing has been on the rise for several years now, and it’s no secret that this trend is only set to continue in 2023. In fact, experts predict that video will play a major role in the future of marketing and advertising, providing businesses with an innovative and engaging way to reach and connect with their target audience.
So why is video marketing such a powerful tool for businesses in 2023? There are several reasons, including its ability to capture attention, convey emotions, and tell a story in a way that other forms of content simply cannot match. But don’t just take our word for it – let’s take a closer look at the statistics.
According to a recent study by Wyzowl, 87% of businesses now use video as a marketing tool, up from 63% just two years ago. Additionally, the study found that 81% of businesses say that video has helped them to increase sales, while 99% of those who use video say they would continue to do so in the future.
It’s not just the increased sales that make video such a valuable tool for businesses. The power of video also lies in its ability to engage and connect with viewers in a way that other forms of content cannot. For example, Hubspot found that video is the most effective type of content for retaining customer attention, with viewers retaining 95% of a message when they watch it in a video compared to just 10% when reading it in text.
This high level of engagement has a huge impact on the customer journey, helping to build trust and drive conversions. In fact, a recent study by Vidyard found that including a video on a landing page can increase conversions by 80%.
So what types of video are businesses using in 2023? According to the same Wyzowl study, the most popular types of video for businesses are explainer videos (60%), followed by brand videos (51%) and product videos (50%). However, as technology continues to advance, businesses are also exploring new and innovative ways to use video, from live streaming and 360-degree videos, to virtual and augmented reality.
While video may have been a luxury for some businesses in the past, today it is a necessity. With more and more consumers demanding engaging and interactive content, video is set to play a major role in the future of marketing and advertising. Whether it’s through explainer videos, brand videos, or cutting-edge technologies like VR and AR, video provides businesses with a unique and powerful way to reach and connect with their target audience.
In conclusion, the statistics speak for themselves – video marketing is set to be a major driver of growth and success for businesses in 2023. So if you’re looking to take your marketing strategy to the next level, it’s time to start exploring the world of video and see how it can help you to connect with your customers and drive sales.