Video marketing statistics for your 2024 campaigns

We see video marketing everywhere. Think Instagram Reels, TikToks, Facebook ads, shoppable video, live videos and webinars. And it’s become super easy for brands to use video content in their marketing strategies. 

But how effective is video marketing? What type of content is best for your brand, and what ROI can you expect?  🤑

We’ve got you covered. We rounded up key video marketing statistics from the last two years to help you plan your video marketing strategy for 2024. 

General video marketing stats

 Let’s kick things off with some general statistics relevant to both B2C and B2B marketers. These should help you build a case for your brand’s online video marketing strategies (if you don’t already have one) or give you some direction on what to do next. 💡

88% of marketers say video is an important part of their marketing strategy

We see a lot of online video content posted by brands, which makes sense when 88% of marketers believe it’s important to their strategy. 

The types of video you create will depend on where you're posting it. Do you want to create short, snappy video ads for social? Or longer product demos to sit on your landing pages? There are lots of options available to help you reach potential customers. ✨

Source: Wyzowl ,2024

52% of companies create videos to educate their audience

There’s loads of reasons you might want to start creating videos for your brand. To give you some guidance, 52% of companies say they create videos to educate their target audience about their products. This could be a great place to start for your own content. These types of videos also saw the most engagement and most ROI - but more on that later. 

Source: Wistia, 2023

Looking for tips on creating scroll-stopping video content? Listen to Toby Hart's episode on the Ecommerce Marketing 101 podcast.

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Video viewer statistics 

Wondering what your audience is up to online? Here are some viewer stats to give you insight. 🔍

Average video retention rate for videos across the board is 54%

When tracking performance, retention rate is going to give you a good indication of how your videos are landing with your audience. Drop-off is to be expected with 54% of viewers watching all the way through. However, for anything under 60 minutes, video retention rate increases to 62%. 

Source: Vidyard, 2022

More people are watching videos with closed captions 

Many Instagram and TikTok videos now have captions over the top of them as standard. This isn’t just great for accessibility. More and more people are watching videos without sound, so prefer captions on.

Source: Yahoo, 2023

75% of people watch short-form video content on their mobile 

Make sure you're optimising your short-form video content for mobile - it’s where people prefer to watch. This could be largely down to social platforms like TikTok and YouTube that make mobile video super-accessible. 

Source: Inside Intelligence, 2023

Types of video content 

There are loads of different ways you could approach online video content. You can display videos on landing pages, embed them into blog posts, or use them solely for your social media platforms. Take a look at these stats to help you decide where to start. 

Short-form vs long-form video

You’ve probably heard that short-form videos (those which last for less than 60 seconds) are better for engagement. Whilst it’s true in a lot of cases, it often depends on the channel and the topic. 

More brands are creating long-form videos 

There are more and more brands creating long-form video content such as webinars and fireside chats. And viewers are watching them! It seems longer, educational videos are a popular choice after all. In Wistia’s 2023 benchmark report, they found that 16% of viewers stuck with a 60-minute video all the way through. This may not seem like a lot, but you can be fairly sure that those viewers are engaged and have the potential to become sales prospects. 

Source: Wistia, 2023

Marketers say short-form videos should be under 60 seconds 

If you’re creating short-form videos, they really should be short. 83% of marketers say that short videos should be less than 60 seconds long. 

Source: HubSpot, 2023

44% say they’d prefer to watch a short product or explainer video 

When it comes to product education, 44% of people said they’d prefer watching a short product or explainer video, rather than a long one. 

Source: Wyzowl, 2024

Explainer videos 

As the name suggests, explainer videos explain what your product or service is. Let’s take a look at some stats. 

91% of people have watched an explainer video to learn more about a product 

It seems obvious, right? A video that clearly explains what your product does is going to help push buyers over the line. And the data backs this up—91% of people watch explainer videos before purchasing a product online.

Source: Wyzowl, 2024 

On average, it costs around $5,400 to create an explainer video

A couple of years ago, Wyzowl asked 122 companies to send them quotes for an explainer video. The lowest quote was $600; the highest was $250,000. And the middle value of all these prices was $5400. So, whilst costs can differ wildly, there will always be options for your brand if you want to hire a professional. 

Having said that, it’s getting easier and easier for brands to create their own videos. Just check out Toby’s insights on creating scroll-stopping video ads over on our podcast. 👀 

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Source: Wyzowl, 2024

Product demos 

69% of consumers believe a product demo best assists them when making a purchase 

A product demo is one of the best ways to show your audience how your product works - 69% of consumers say it helps them make a purchase. That’s because product demos dig into the specific features of a product. It gets into the nitty-gritty details of your product or service. 

Source: Wyzowl, 2023

47% of marketers have invested in product demos 

It’s not just consumers that know product videos are important—marketers are investing more of their marketing budget into them, too. 

But this doesn't mean your videos need to be over-complicated or difficult to produce. Just take a look at this simple product demo from Loop earplugs for inspiration. 

‍

Source: Vidyard, 2023

Live video

Live video, or live streaming, has grown in popularity over the past few years. That includes live webinars, event streaming and live streams. And according to Vidyard, more brands have adapted to hybrid events. This means they’ve found ways to offer a virtual component for people who can’t attend in person. Here are some more stats on live streaming: 

• 161.4 million people watched live video content in 2023—this is projected to increase in 2024.
• 50% of TikTok users have bought something after watching a TikTok Live
• 53% of companies have used live video in some form 
• 28% of marketers say live video is the best for ROI
• 45% of internet users in China watch live commerce to find new products 
• 31% of people say live commerce helps them make better informed purchase decisions 

Source: Vidyard, Wistia,  Sprout Social and Statistica, 2024 

User-generated content

User-generated content (often shortened to UGC) is the type of online video content created by your customers. It could be someone unboxing your product for the first time, a product haul on YouTube or testimonial videos on social media. You won't always know when a customer has posted a video of your product, so make sure you keep your ears to the ground.👂Here are some statistics about UGC: 

• 60% of consumers say that UGC is the most genuine form of advertising
• User-generated videos on YouTube receive 10 x more views than brand-produced videos
• 93% of marketers believe user-generated content hold more credibility than brand-produced content 
• By 2030, 35% of UGC will be created using tools that have AI
• UGC in email marketing has a 78% higher click-through rate

New Source: Linearity, Market Splash, Join Brands, 2024

Check out our guide to user-generated content if you’d like tips on how to encourage and collect content from your customers. 🤳

Shoppable video ads

You’ve probably seen lots of shoppable video ads. They appear on Instagram, Pinterest, TikTok, Youtube and more. These are ads that have clear, clickable buttons that take you directly to the product page being advertised. They can be brand-produced or take the form of UGC. Here are some statistics about shoppable ads: 

• 70% of TikTok users say it’s easy to show via shoppable ads 
• Interactive videos increase conversion rates up to 70%

Source: TikTok, Click2Buy,

How well does video perform on social media?

Almost every social platform has the option to upload video content. But what channel should you focus on? Here are some social media video statistics to get you started. 

YouTube video statistics

YouTube is the OG of video content. It helps brands harness the power of video and is the world’s second-largest search engine, so there’s loads of potential to optimise your video for the best search visibility. 

For brands, this is the ideal video channel to get started on. Here are some key stats: 

• YouTube has over 2 billion monthly users 
• YouTube shorts has around 70 billion daily views 
• 56% of people say that YouTube is their preferred video platform 
• 84% of marketers say YouTube is their preferred way to share videos
• 70% of viewers have made a purchase after seeing a brand on YouTube
• 78% of people say YouTube is the most effective for reaching their business goals (compared to Vimeo)

Sources: YouTube, MotionCue, The Social Shepherd and HubSpot, 2023

Instagram video statistics 

Instagram is great for promoting your products and increasing brand awareness. When you look at this data, you'll see why: 👇

• Instagram has 2 billion monthly users
• 50% of IG users have gone on to visit a website to buy a product after watching an ad on Instagram stories 
• Instagram is the 4th-most visited website in the world 
• Instagram is the preferred social platform for users aged 16-34
• 44% of Instagram users use the app to shop every week

Sources: Instagram, Hootsuite and Earth Web, 2023

Looking to do more on IG? Check out Barney’s article that delves into best practices for creating content on Instagram. 

TikTok video statistics 

TikTok is all about video. For ecommerce brands, this is a fantastic opportunity to reach a new audience, especially Gen Z (18-24 year olds). And, according to TikTok expert Ashley Wright, TikTok Shop will become a key player for brands looking to increase revenue in 2024.

• 63% of TikTok videos that highlight a brand’s key message in the first 3 seconds get a higher click-through rate 
• TikTok had 1.5 billion monthly active users in 2023—this is expected to grow to 2 billion by the end of this year
• 85% of brands planned to increase their TikTok spend in 2023
• Millennials are 1.3x more likely to tag a product on TikTok than on any other platform 
• Entertainment is the most popular content category, followed by dancing and pranks

Sources: TikTok, Business of Apps, The Social Shepherd 2023

Wondering where to start with TikTok? We’ve got an ecommerce guide to creating a TikTok marketing strategy. 

Facebook video statistics 

Facebook has become an old friend by this point (or nemesis, depending on how you feel about it). But one thing’s for sure, millions of people still use it every day and Facebook Ads have the potential to reach 2.08 billion people. But should you be using it for video marketing? Take a look at these statistics: 

• Based on data from the third quarter of 2023, Facebook had over 3 million monthly active users.
• 53% of people say they’re more likely to shop with a business if they can send a message on Facebook 
• Facebook ads reached more than 3.6 million users in 2023 - that was a 5% increase from the previous year 
• Retail brands have a 1.59% average click-through-rate on Facebook ads—that’s the second highest across all industries
• However, retail brands have a 3.26% conversion rate. Although, interesting, apparel has the highest with a 4.11% average conversion rate

Sources: Facebook, DataReporter, Wordstream and Statistica, 2023

Thinking of investing in Facebook advertising? Take a look at our article that’ll guide you on how to create some killer ad graphics. 😍

The best time to post videos on each social media platform 

No matter what platform you use to share video content, it’s good to know when the ‘best’ times to post are. If you post when people are more likely to see it, you’ll get better engagement rate. Remember to bear in mind your target audience’s time zones when considering these timings. 

• Instagram - Tuesdays and Wednesdays, 9am - 1pm
• Facebook - Monday through to Thursday, 8am - 1pm 
• Youtube - Monday, Wednesday and Tuesdays (in that order), anytime during 9 am -6pm 
• Pinterest - Tuesday - Thursday 12 pm - 3 pm 
• TikTok - Tuesday and Wednesday, 2pm - 6pm  
• Twitter - Tuesday - Thursday, 9am - 2pm 

Source: Hubspot and Sprout Social, 2023

The ROI of video marketing

If you want to know the true power of video marketing, you only have to look at the stats around return on investment. Make sure to pull these out if you ever need to make a case for a video marketing budget with your boss. 🤑

Short-form videos offer the highest ROI for marketers 

With a big helping hand from social channels like TikTok, it’s clear that short-form videos can provide your brand with the biggest ROI. It’s also super-popular with marketers, with 44% producing them on a regular basis. 

The likely reason for this? Short-form is easy to produce and platforms like TikTok makes it easier for brands to post authentic, less-polished content that gets lots of engagement. In turn, this builds brand awareness and helps bring in more sales opportunities.

This is something we explore over on our podcast: Ecommerce Marketing 101. Aimee, Head of Social and Creators at Lick, explains how TikTok has become a game-changer for building a loyal following through easy-to-produce video content. 

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Source: Hubspot, 2024

87% of marketers say video has helped them directly increase sales

The stat everyone has been waiting for (or at least your boss has). A whopping 87% of marketers can attribute sales back to their video marketing efforts. 

Source, Wyzowl, 2024

87% of marketers say video has helped them increase leads

The more leads you have, the more likely you are to see conversions. It’s just basic maths. But with 90% of marketers saying video has helped them get those leads, it seems video marketing is the road to go down. 

Source: Wyzowl, 2024

The biggest blockers for creating video 

If you’re not creating videos for your brand, we’re sure there are a few things standing in your way. These stats are to show you that you’re not alone. Identifying your blockers will help guide your strategy. 

33% of marketers don’t have enough time to create video content

Unsurprisingly, lack of time is the biggest blocker for a third of marketers who want to build a video marketing strategy. Marketers also say that planning a strategy and creating good content feels like a hurdle they need to overcome. If this rings true, it might be worth considering the ROI potential of video and whether it's worth prioritising your time in 2024. 

Source, Wyzowl, 2024 and HubSpot, 2023

20% of marketers who don’t use video say it’s too expensive.

A large chunk of marketers think that video is too expensive. Yes, video content can be expensive to produce. But it doesn’t have to be. A scrappy video that you shoot on your phone and upload to TikTok might get the same - if not more - views than a professionally shot video on your website. Here’s what Aimee from Lick says:

“Just start by putting stuff out there and seeing the reception you get. I think a lot of people get stuck because they don't know what to post, so they don't end up posting anything. So just start with something. Look at how your target customers are using the platforms, either with other brands, or with creators. Use that as a starting point to create some of your own content. TikTok has less of that ‘perfect’ feel about it so it's much more accessible for people with little-to-no social media background." 

Source, Wyzowl and Dash, 2024

Using video in your ecommerce ads 

No doubt you’re already running advertising campaigns for your ecommerce store. Here are some statistics that’ll help you direct your strategy and pick what channels you want to spend money on. 

YouTube has the highest ad share, followed by TikTok

YouTube currently makes up 8.3% of US ad share— the highest percentage of all social channels. This suggests that advertisers find YouTube to be super-lucrative for reaching their target audiences, which is a good indication that this is the channel you should be focusing on. 

YouTube is followed closely by TikTok at 6.5%—not surprising given its rapid rise in popularity. 📈  

Source: Insider Intelligence 2023

Looking for ways to create better videos? Take a listen to our podcast episode with Toby Hart, Co-Founder of Nusa Films. He offers his tips on creating social-first thumb-stopping video ads. 

Ads with UGC have a 400% higher click-through rate than traditional ads.

We’ve already explored how buyers trust user-generated videos more than brand-produced content. So combining UGC into your advertising campaign is a great way to establish credibility whilst reaching a wider audience. 

Take this ad from UK supplement brand, DR.VEGAN. They’ve asked customers to be honest and talk about the concerns they had before trying the product. Each concern is followed by a genuine, happy review from each buyer. 

Source: Join Brands, 2023

💡 For tips on creating and improving your strategy, take a look at our article that offers 9 ecommerce advertising strategy tips. 

How video affects brand awareness

Whilst it’s hard to directly attribute brand awareness back to revenue, it can help hugely with your organic traffic and brand loyalty metrics. This, in turn, should help you win more customers. And one way to improve brand awareness is through more video content. 

90% of video marketers say video has helped them increase brand awareness.

If brand awareness is high up on your list this year, you’ll want to include video content in your strategy. A whopping 90% of marketers said it helped them improve brand awareness last year. And you know what greater awareness means? More website traffic and, ultimately, more conversions. 🤑

‍89% of shoppers want more videos from brands in 2024

A resounding 89% of consumers are hungry for more video content from brands. It's not just a passing trend; it's a clear indication that videos have become a preferred and engaging medium for audiences. If you want to stay ahead in the game, use video to create a connection that resonates with your audience.

39% of video marketers attribute ROI to brand awareness metrics 

When it comes to measuring the success of your video marketing efforts, it's not just about views and likes. 39% of video marketers justify their ROI through the lens of enhanced brand awareness. This means that, beyond the views, clicks, and shares, these marketers are seeing tangible results in terms of stronger brand presence. 

Source: Wyzowl, 2024

How to be successful with your video strategy this year 

We’ve given you a lot of stats, but what does this really mean for your video strategy in 2024? Here’s a summary of some key themes to look out for as you plan your content: 

Start with product videos: If you’ve not yet dipped your toe into the world of video marketing, start by creating videos that demonstrate how your product can help your target audience. Educating them about your product or service does a good job on helping shoppers make purchase decisions. And will help drive up your ROI. 

Use a balance of short and long-form videos: Short-form videos are hugely popular, but don’t ignore the potential of long-form content. Tailor your approach based on the platform and audience. For instance, use short-form videos for high engagement on social media and consider long-form content like webinars for in-depth product exploration on your website.

Experiment with shoppable videos: Jump on the trend of shoppable videos by incorporating clear, clickable buttons into your video ads that lead directly to product pages. Adding UGC will also help build credibility with your audience.

Create more UGC: Authentic user-generated content is a fantastic way to highlight real people using your products. It’s hugely popular with consumers—with 79% of people saying it affects their buying decisions— so consider implementing it into your video marketing strategy. 

Strategic use of live video: Explore live video such as webinars and event streaming. Consumers say these types of events help them make better purchase decisions and they give you the opportunity to interact with your audience. Take a look at the live features on social channels like Facebook and Instagram as a starting point. 

Make video production easy: You can overcome some common video marketing blockers by investing in the tools and skills needed to make video creation easier for your brand. High-quality video equipment has become more accessible and it's now easier than ever to shoot videos on your phone and upload them to channels like TikTok. You should also make use of UGC to balance out your video marketing costs. 

Organising your video content 

You can see why video marketing is such a popular strategy for marketers. Whether you’ve already created some YouTube videos or you’re planning to launch a TikTok account, you’ll need somewhere to store all those videos. 

Yes, we’re talking about Dash. 😇

Our digital asset management platform is the home for visual content. That includes video, images, brand documents, logos - the list is endless. It’s a place you and your team can go to search for the latest ad, send clips to resellers and deploy content to your marketing channels. 🚀 Check out Barney’s blog post about storing videos in Dash. 

Or jump straight in with a free trial. 👇