It is effectively established that video has been one of many breakout tendencies within the advertising world for the previous decade.

However what’s taking place in video advertising proper now? And the way does its progress and success stand as much as the twists and turns of a world pandemic? 

At Wyzowl, we have launched an annual State of Video Advertising survey yearly since 2015, charting utilization, spend, channels, and opinions amongst video entrepreneurs and shoppers. 

We not too long ago launched our eighth State of Video Advertising report and, in gentle of the chaos of current years, it is maybe our most fascinating set of findings but.

Our analysis suggests:

• Video stays a key precedence for entrepreneurs with utilization and spend each, total, rising in 2021, and plans to extend once more within the subsequent 12 months.
• The pandemic continues to affect video advertising plans — however the disruption seems to be lowered in comparison with final 12 months, as folks regulate to a ‘new regular.’
• Persons are watching extra video on-line than ever earlier than – in truth the quantity of on-line video they watch has virtually doubled since 2018.
• Entrepreneurs really feel extra constructive in regards to the return on funding supplied by video than ever, because it continues to strongly affect site visitors, leads, gross sales, and viewers understanding.
• Customers proceed to make use of video as an integral a part of their journey with manufacturers, and are excited to see much more video content material within the 12 months forward.

In regards to the Survey

Wyzowl’s State of Video Advertising Survey is an annual report, now in its eighth iteration. Yearly, we ask a variety of questions — lots of them the identical from year-to-year — to guage how the video advertising panorama is altering and rising.

This time round, our survey was taken by a pattern of 582 distinctive respondents (solely round 7% of whom have been Wyzowl clients) consisting {of professional} entrepreneurs and shoppers.

The important thing findings …

86% of companies use video as a advertising instrument, holding regular from final 12 months.

That is the excessive level in a basic story of video utilization rising which might be traced again to 2016 (the primary time we requested this specific query on this approach).

Additionally, 92% of entrepreneurs who use video say that it is an necessary a part of their advertising technique.

Maybe most strikingly, 87% of video entrepreneurs reported that video provides them a constructive ROI — a world away from the lowly 33% who felt that approach in 2015. This might effectively be attributed to larger understanding of the best way to use video, in addition to the best way to observe and quantify its affect. 

Most entrepreneurs really feel that video is a superb funding for lead technology. 86% of video entrepreneurs say video has been efficient for producing leads, up one other 2% from 2021 and up 5% since 2019.

81% of entrepreneurs really feel that video has a direct, constructive affect on gross sales. 

94% of entrepreneurs agree that movies have helped improve person understanding of their services or products.

On measuring success, most entrepreneurs (62%) contemplate video engagement the highest metric. Views or performs have been a detailed second (61%). 

Whereas solely 27% of video entrepreneurs contemplate gross sales as a measurement of success, 81% report that video advertising has improved their firm’s backside line — that means that movies can have a constructive affect even when the main focus stays on different metrics.

Pandemic Affect

Sadly, 2021 was not the tip of the pandemic – and it seems like COVID is more likely to proceed to make its affect felt in 2022.

So what affect is that this having on the world of video advertising?

Nicely, 64% of entrepreneurs say the pandemic has affected their video advertising plans for 2021 and 2022. Out of those folks, three-quarters stated the pandemic made it extra seemingly they might create video, and the opposite quarter stated it made it much less seemingly. 

However, the excellent news is, the pandemic’s affect on video advertising price range appears to be diminishing. 

In final 12 months’s survey we requested entrepreneurs whether or not they anticipated their 2021 video advertising price range to be affected, and 63% stated they thought it might be.

This 12 months’s quantity – nonetheless excessive, at 50% – represents a substantial fall.

Wanting Forward

All of the indicators counsel that utilization and spend are on the right track to proceed their progress in 2022.

Greater than 99% of present video entrepreneurs advised us they will proceed utilizing video in 2021, and two-thirds plan to extend or keep their spend.

What’s extra, from the individuals who advised us they do not at present use video, 79% advised us they count on to start out in 2022. (That is 10% larger than final 12 months’s determine of 69% and 20% larger than the 12 months earlier than that.)

The online results of that is that we will all count on to see extra noise and competitors for viewers consideration within the coming 12 months. 

After all, whereas oversaturation is a problem, it is not an insurmountable one. It merely raises the bar by way of content material high quality. Your movies will have to be well-planned, and really well-executed.

The Massive Alternatives for Video Advertising in 2022

You would be forgiven for these numbers and feeling that video is perhaps on the verge of reaching saturation level. A lot of the proportion information round utilization, spend, and shopper opinion are within the 80s and 90s — the place they’ve held, persistently, for quite a lot of years.

However the excellent news is that there nonetheless appears to be underutilized alternatives for entrepreneurs to discover video.

It’s notable that audiences proceed to look at extra video. Our information suggests the quantity of on-line video watched per week, per individual, has virtually doubled since 2018.

And what about the place they watch it? Unsurprisingly, YouTube is probably the most widely-used platform amongst video entrepreneurs — utilized by 88%, with a substantial hole to the following widely-used.

However a few of the lesser-used video techniques additionally appear to reap actual outcomes for video entrepreneurs.

This 12 months we requested folks to inform us the needs of the movies they’d created. 

Explainer movies have seen super success. In addition to being the most typical ‘aim’ of a advertising video, an amazing majority of individuals (96%) report watching explainer movies to be taught extra a couple of product, with 88% being swayed to make a purchase order. 

The product doesn’t must be bodily, both. 78% of individuals say they’ve been satisfied to buy an app or piece of software program due to a video.

To Sum Up

The rise of video as a advertising instrument appears inexorable.

Practically 9 out of ten folks report desirous to see extra movies from manufacturers in 2021, making video a wonderful instrument for lead technology and model consciousness. 

In some ways, with folks spending extra time at dwelling – working remotely – the demand (and consumption) of video has accelerated.

Video seems set to proceed its ten-year in a single day success story into the approaching decade. These stats paint an image of a media sort that is virtually universally well-liked amongst each entrepreneurs and their audiences, serving to obtain quite a lot of extremely necessary objectives.

You may try the complete report — with loads extra information factors — and get a downloadable model by visiting Wyzowl’s State of Video Advertising 2022 web page.

Editor’s word: This submit was initially printed in January 2018 and has been up to date to replicate the most recent information.