We know that creating high quality videos for your ecommerce website is difficult. Equipment is expensive, and specialists who know how to use this equipment cost even more. For this reason, many e-commerce companies will settle for photos and graphics to get the job done.
These video marketing statistics show that video may be a worthwhile investment. Sure, you have to dig deeper into these pockets first, but the results will return more than you dreamed of.
Product video statistics that marketers need to know
1. Video is the # 1 content type that marketers use to sell products and services.
In our "No Other State of Marketing" report, marketers surveyed stated that video is the top content type produced in their content marketing programs and that blog posts are being published for the first time.
2. More than half of marketers invest in product-related videos.
Also in the HubSpot report above, we found that almost a quarter of marketers invested in product promotional videos, while almost a fifth invested in product demos.
3. 73% more visitors who watch product videos will make a purchase.
Did you know your products are more likely to sell if you make videos for them? There are several reasons for this, which we will discuss in the next points. However, the most important thing is that videos for your products lead to more purchases. This is really the biggest and most important statistic you need.
4. 92% of marketers using videos say this is an important part of their marketing strategy – compared to 78% in 2015.
According to the Wyzowl survey at the end of 2019, in which marketers were asked about their video tactics, the number rose from 78% in 2015. With such statistics, there is no question that marketers consider videos to be valuable and worth their investment.
5. 71% of consumers prefer videos over other marketing content.
If consumers feel they understand the products you sell, they are more likely to spend their money. Video clears up a lot of this confusion. Isn't your marketing about that at all? Answer questions with high quality content?
6. 87% of Gen Z prefer branded videos or ads where someone talks about a product.
Gen Z is one of the most digitally networked and budget-conscious generations ever. And when they reach full buying potential, you should consider their buyer's travel behavior.
As people in the age group, they look for video-based ads, demos, tutorials, unboxings or video reviews by influencers to see how well the product works and what it looks like in real life.
7. 55% of consumers use videos to make buying decisions.
While Gen Z relies heavily on videos to research products, other age groups are not that different. According to data from Google in 2019, more than half of people of all ages use videos to make a purchase decision.
Ultimately, authentic videos can lead to more trust. By providing product videos, you give buyers high-quality information that is not hidden behind good angles and lighting conditions. They understand the products they order and are more satisfied with their purchases. With every major transaction you build more and more trust.
Video Stat Knowledge Check
Do you think you know your video statistics? Test yourself with the interactive quiz below to see how well you've soaked in the details above. Do not try to peak when answering every question:
Create an engaging product video
A consumer who trusts your company is worth the investment you make in product video production, isn't it?
If you've been intrigued by the statistics above and ready to invest in your first product video, think about what you want to try first. Here are some examples of product video formats:
- Demos / tutorials: These videos explain how the product or service works so that a consumer can see how it works in a real environment.
- Influencer Marketing Videos: If you don't have the time to produce product videos, but you have a budget, you can hire a macro or micro-influencer to publish a video on their networks that talks about or promotes your product.
- Ads or video promotions: These videos are often shorter than tutorials. They just highlight the product or service and all of its great features, but don't necessarily need to describe in detail how it works.
- User generated content: If you have happy customers using your product or service, encourage them to do a video review or unboxing, which you can then share publicly on social media or on your website. When others see a real person talking about the success of your brand, they may be more willing to trust your offerings.
You can find more information about video marketing in this practical guide.
Editor's Note: This blog post was originally written in February 2016, but was updated in July 2020 to ensure freshness and completeness.