Think big data is big? Wait till you look at big video data. It’s information-rich in a way that PDFs and articles can never be: Videos reveal what viewers watch, skip, rewatch, and share and when analyzed, they yield extra-juicy insights.
That’s part of what makes our 2018 Video in Business Benchmark Report so insightful: We examined 250,000 videos from 600 businesses and found that while businesses are creating more videos on more channels in more departments, they aren’t the ones you might expect.
See for yourself:
1. Video had a breakout year with an 83% increase in videos published
On average, businesses now publish 33 new videos every month. That’s a massive 83% leap over the previous year when it was 18 videos per month. At this rate, the average company will double the size of its video library over the next year.
To what can we attribute this profusion of footage, other than marketers’ increased sophistication and video’s remarkable ROI? The fact that video has jumped the marketing department fence and is now created by teams who didn’t have much use for it, until now.
2. Video is everywhere: Usage grew in non-traditional departments and channels
Businesses are using video on nonstandard channels more often. The number of companies using video on landing pages, for instance, jumped from 49% last year to 60% this year and the number of businesses using video in email jumped from 36% to 46%. The wide availability of simple video creation tools means more marketers are using it in more places. But, so are other departments.
Videos showed up in 37% of sales conversations last year, up from 25% the year before. Demand for video in customer service was so high, Vidyard released an entirely new product to cater to that market. And internal communications teams are raving about video as a way to boost employee engagement. What we’re seeing is everyone migrating from a world where marketers are the video gatekeepers to one where every team has the tools, know-how, and incentives to create and share their own videos.
3. Get to the point! 75% of videos are under two minutes long
While this may not come as a big surprise, companies are betting on short-form video content to appeal to the changing expectations of today’s audience. While the average video was nine minutes, 75% were less than two minutes, and that number is up (and video lengths, down) from the previous year when only 56% of videos were under two minutes.
4. The full experience: 89% of business videos are viewed on desktops
When it comes to viewing business-related video content, desktop still reigns supreme. 89% of all views came from desktop and only 11% from smartphones and tablets.
Desktop views reflect both the consumption habits of business professionals and the types of videos that companies publish to reach those buyers. Videos designed to educate prospects and demonstrate products often benefit from bigger screens.
5. When it comes to video, it’s not the size of your business that matters
Video is no longer just for big brands. Smaller companies are producing as much, if not more, video content than their larger counterparts (see chart below). This trend seems to be fueled by the fact that smaller businesses produce more of their content in-house and have shorter production cycles. They’re also scrappier and more willing to get something out there quickly as a way to compete and stand out.
6. Show me the numbers! Businesses using video analytics outperform peers
The use of video analytics is becoming more prevalent, with 36% of businesses using intermediate or advanced analytics to measure performance and only 13% of businesses not using video analytics of any kind. Those using advanced analytics, however, were 2x as likely to report that returns on their video investments are improving. Want a leg up on the competition? Getting video data-driven may be the key.
Based on this, how can you maximize your video investment?
Well, for one, it’s time to ramp up your video creation, if you plan on keeping up. It’s also time to acknowledge that video has a home in every department, not just marketing. Sales, support, and internal communications are becoming big users. Teams can use video analytics to begin answering their own questions and spot trends–for example, how most B2B videos are viewed on desktop, or whether videos that are less than two minutes actually do perform better than those that are longer.
But that’s not all.
Download the 2018 Video in Business Benchmark Report and learn more about the industries, formats, and strategies brands are using to drive demand now and in the future!
How are you tracking your video benchmarks? Sound off in the comments below.