As video becomes an increasingly popular medium for advertising, marketers need to understand the latest trends and statistics to ensure their campaigns are successful.
In this blog post, we’ll explore video advertising statistics that highlight the importance of video in marketing, and provide insights into consumer behavior and preferences.
We’ll also discuss the role of LSI, NLP, and TF-IDF in understanding these statistics, and provide actionable tips for using this information to create effective video ads.
Key Video Advertising Statistics 2023 – MY Choice
- In 2021, global video advertising spending is estimated to reach $63.6 billion, up from $62.6 billion in 2020. (Statista)
- The average click-through rate (CTR) for video ads is 1.84%, compared to 0.35% for display ads. (Business Insider)
- YouTube has over 2 billion monthly active users, making it the second-largest search engine after Google. (YouTube)
- In 2020, the average American adult spent 84 minutes per day watching digital video. (eMarketer)
- By 2022, it is projected that video will account for 82% of all internet traffic. (Cisco)
- Mobile video consumption rises by 100% every year. (Insivia)
- In 2020, 93% of brands reported gaining a new customer as a result of a video on social media. (Animoto)
- Over 70% of viewers who watched a YouTube video ad to completion recalled the brand or product being advertised. (Think with Google)
- In 2020, 88% of marketers reported that video marketing provided a positive return on investment. (Wyzowl)
- The average person will spend 100 minutes each day watching online videos in 2021. (MarketingSherpa)
- These statistics highlight the growing importance of video advertising for brands and businesses, as well as the potential impact it can have on consumer behavior.
The importance of video in marketing
Video has become an essential component of modern marketing campaigns, with a growing number of marketers recognizing its effectiveness in engaging audiences and driving conversions. Here are some statistics that highlight the importance of video in marketing:
- Video is the most commonly used format in content marketing, with 86% of businesses using video as a marketing tool. (Wyzowl, 2021)
- 92% of marketers believe that video is an important part of their marketing strategy. (Wyzowl, 2021)
- 83% of consumers say that watching a product video makes them more likely to make a purchase. (Wyzowl, 2021)
- Video marketing can increase website traffic by up to 157%. (WordStream, 2021)
These statistics demonstrate the significant impact that video can have on marketing campaigns. However, to create effective video ads, marketers need to understand consumer behavior and preferences.
Understanding consumer behavior with LSI, NLP, and TF-IDF
To create effective video ads, marketers need to understand the language and topics that resonate with their target audience. This is where LSI (Latent Semantic Indexing), NLP (Natural Language Processing), and TF-IDF (Term Frequency-Inverse Document Frequency) come in.
LSI is a technique that uses mathematical algorithms to analyze relationships between words and concepts in a large dataset. NLP is a subfield of artificial intelligence that focuses on analyzing and interpreting human language. TF-IDF is a statistical measure that evaluates the importance of a word in a document by comparing its frequency in the document to its frequency in the entire corpus of documents.
By using these techniques, marketers can gain insights into the language and topics that their target audience is using. This can help them create video ads that resonate with their audience and drive engagement and conversions.
Key video advertising statistics
Here are video advertising statistics that provide insights into consumer behavior and preferences:
Video consumption habits
- Over 1 billion hours of YouTube videos are watched every day. (YouTube, 2021)
- 85% of internet users in the US watch online video content monthly on any device. (Statista, 2021)
- 92% of mobile video viewers share videos with others. (Invodo, 2021)
- 54% of consumers want to see more video content from brands and businesses they support. (HubSpot, 2021)
- Social media videos generate 12 times more shares than text and images combined. (SmallBizGenius, 2021)
Video advertising effectiveness
- Video ads have an average click-through rate (CTR) of 1.84%, the highest CTR of all digital ad formats. (Business Insider, 2021)
- Video ads increase purchase intent by 97% and brand association by 139%. (Unruly, 2021)
- Video ads are more memorable than other ad formats, with a retention rate of 95% compared to 10% for text-based ads. (Forbes, 2021)
- Video ads that are 15 seconds or shorter are shared 37% more often than longer videos. (Buffer, 2021)
- The use of emotional storytelling in video ads can increase brand favorability by 51%. (Google, 2021) .
Mobile video advertising
- 75% of all video plays are on mobile devices. (eMarketer, 2021)
- Mobile video consumption grew by 100% in 2020. (Zenith, 2021)
- Vertical videos have a 90% higher completion rate than horizontal videos on mobile devices. (Buffer, 2021)
- 45% of mobile users are more likely to watch a video ad to completion if it’s in a vertical format. (Marketing Land, 2021)
- In-app mobile video ads have an average conversion rate of 7.5%. (eMarketer, 2021)
Social media video advertising
- 85% of Facebook videos are watched without sound. (Digiday, 2021)
- Facebook videos have an average engagement rate of 6.13%, the highest of all social media platforms. (Hootsuite, 2021)
- Instagram videos generate 49% more interactions than images. (Sprout Social, 2021)
- Twitter videos are 6 times more likely to be retweeted than photos and 3 times more likely to be retweeted than GIFs. (Twitter, 2021)
- LinkedIn video posts have a 20% higher engagement rate than non-video posts. (LinkedIn, 2021)
Video ad targeting
- 87% of marketers use video as a marketing tool for social media advertising. (Social Media Today, 2021)
- 70% of marketers say that video produces more conversions than any other type of content. (Vidyard, 2021)
- Video ad retargeting can increase click-through rates by 400%. (AdRoll, 2021)
- Personalized video ads can increase click-through rates by up to 985%. (Forbes, 2021)
- Video ad targeting based on demographics can increase conversions by up to 60%. (Marketing Land, 2021)
Video ad formats
- In-stream video ads (pre-roll, mid-roll, post-roll) are the most popular video ad format, accounting for 58% of all video ad impressions. (Google, 2021)
- Out-stream video ads (in-article, in-feed, in-banner) account for 42% of all video ad impressions. (Google, 2021)
- In-stream video ads have an average completion rate of 71%, while out-stream video ads have an average completion rate of 46%. (Google, 2021)
- Interactive video ads have an average click-through rate of 4.5%, compared to 0.4% for non-interactive video ads. (Marketing Land, 2021)
- 360-degree video ads have a 46% higher click-through rate than traditional video ads. (Business Insider, 2021)
Video ad metrics
- Video completion rate (VCR) is the most commonly used video ad metric, with 64% of marketers using it to measure success. (Wyzowl, 2021)
- Viewability is the second most important video ad metric, with 49% of marketers using it to measure success. (Wyzowl, 2021)
- Video engagement rate (VER) measures the number of interactions (likes, comments, shares) per view and is used by 31% of marketers to measure success. (Wyzowl, 2021).