It’s no secret that video marketing is still reigning king. As a consumer, you have seen your social media feeds filled with more videos. As a business, you’ve likely been aware that it’s important to include video content in your marketing strategy.
For the past two years, there’s been a substantial marketing focus on video content. Like any trending digital marketing area, it’s fast-moving and continuously evolving. To make the most of your marketing efforts, it’s important to be up-to-date with the latest video marketing trends and statistics as we move into 2023.
The key video marketing statistics and trends you need to know for 2023:
- Social media platforms algorithms are prioritising video content
- 81% of marketers say video has helped them directly increase leads or sales
- Video is preferred by 80% of people over written text
- Viewers retain 95% of the messaging in video marketing
- 59% of Gen Z watch longer versions of videos that are extensions of short-form videos
- Social media is still an untapped market for video marketing advertising
Video marketing trends and statistics show that people consume more video content than ever before. Video marketing is here to stay and is increasingly preferred for consumers, marketers and businesses alike.
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Social media algorithms and video marketing trends
Social media platform algorithms prioritise video content, with each platform focusing on slightly different approaches. When you understand how each platform is choosing to prioritise different types of content and how people consume certain content, you will have a broader idea of what platforms and content are best for your business.
Despite most social media platforms prioritising video content, video marketing advertising on social media is underutilised. In 2023, video marketing ads are expected to be around 35% of social ad spend. A year ago, video was also the most underutilised format across Facebook, Instagram, and Twitter, each only hitting 14%, 11% and 5% of each platform’s total content.
Video marketing trends for 2023 prove there’s a lot of opportunity if you use video content in your marketing strategy, both with paid advertising and unpaid content creation. Check out our other articles to learn more about YouTube paid advertising and TikTok paid advertising.
Video vs written content marketing statistics in 2023
With any effective marketing strategy, it’s important to take a holistic and all-encompassing approach. Incorporating video marketing trends in your 2023 marketing and content strategy is key, but it doesn’t mean you should only use video content. It’s important to select the right content formats for your business, and it all depends on your goals, brand, audience, and products.
Studies prove viewers retain more information via video compared to written content. But, written content can provide a more in-depth explanation and credibility. A recent study showed that 68% of consumers prefer watching videos to learn about new products or services. Video is great for conveying information about businesses or products in an engaging format, and written content works well for skim reading, as well as backing up claims and adding further explanations.
Include video marketing trends in your marketing strategy
Usually it’s wise to include both various forms of both video content and written content in your marketing approach. This includes short-form videos, reels, explainer videos, SEO blogs, long-form videos, white papers, video tutorials, and more. It always comes down to your individual business goals and audience, rather than applying all video marketing trends in a one-size-fits-all approach.
Saying that, video marketing trends are definitely part of marketing strategy success in 2023. With 69% of people favouring video over text, and the average user spending 88% more time on a website with video.
Video ads are excellent at getting the attention of new audiences, and are statistically proven to increase sales and purchases across both B2C and B2B sectors. 70% of B2B customers watch videos as part of their purchasing pathway.
Video marketing can support your writing content
Since you don’t need to shift the entire focus on video, it’s advised to instead include and begin to prioritise video marketing as part of your overarching strategy. An audit and brainstorm is always a good place to start, and allow for a creative trial period if you decide to test different formats and video marketing trends. The data will show you what’s working best and resonating with your audience.
One of the benefits of written content is that it’s searchable, and SEO is still a tool that creates higher engagement with your website. Search engines are the starting point of 93% of internet activities, and compared to social media, search engines drive 300% more traffic to websites.
Great written content can tap into search engine opportunities, and if your marketing is complemented with written content and supported by excellent video marketing content, you will be onto a winning strategy. For example, including videos in email marketing can increase your open-rate by 300%. When created right, both written and video content complement each other.
Trends for 2023: long-form vs short-form videos
The attention economy is something you’ve probably heard of. Many of us feel challenged with our busy and increasingly digital lives. The attention economy treats human attention as a scarce commodity, and is often thought of as short attention spans in an increasingly technology driven world. However, marketing experts are encouraging a critical thinking approach to measuring consumers’ attention.
Rethink “attention spans” to “customer behaviour”
The issue is not simply a problem of “short attention spans”. There are endless options for where people spend their time and focus, and consumers are being pulled in many directions. Great marketers will explain to you that getting the consumers’ attention should not be the main goal, rather it’s actually about what happens to the consumers’ attention when you have it.
It’s more about behaviour than attention. A better frame is that attention spans are selective, rather than short. You might think that short videos are the way to go, and often they are effective, but that’s not always the case.
Gen Z is watching long-form video content
Surveys show that Gen Z is more willing than ever to watch hour-long video content if it’s a topic that’s of interest to them. Don’t throw away your new reel or short-form video ideas, but take a step back and get clear on your content goals and audience to create a balanced strategy.
Google says we are now in the era of the “professional” fan. People are taking a more in-depth exploration of topics, which is seen with a significant rise of people searching for video essays on YouTube.
Long-form videos help build loyal audiences, and many content creators say that including long-form video has led to greater engagement on their channel. The research shows that audiences, and Gen Z in particular, will watch longer videos from brands or content creators that they have first discovered on short-form video apps.
Long-form videos provide more time to delve deeper into specific topics. They help to storytell from different angles and offer new comprehensive ideas that short form content struggles to deliver. Advertisers are also jumping onto this new trend and are using longer form video to advertise products and brands.
Focus on audiences marketing behaviour
The key point to focus on with your marketing is the motivating drive of your audience. Gen Z want a deep, personalised experience of what is of interest to them. Tapping into the motivations, behaviours, and emotions of your audience is key to success. This approach can be used to utilise the best video marketing trends for your specific audience.
People, and Gen Z in particular, often want to follow their passions and learn more about them. Including video marketing trends, such as offering long-form videos on specific topics and passions that appeal to your target audience can be highly beneficial.
Both short-form and long-form video content has an extra human interaction layer. And long-form videos can encourage deeper engagement and discussion. Allowing audiences, regardless of their generation, to connect with other like-minded people, such as in the comments section or topic based forums, will support their connection to your brand. When people find a community they connect with, they often stick around.
Creating video content with a focus on marketing psychology and video content will help build your audience and engagement. Trial using short-form content, including reels and videos, to grow your audience with short and snappy content that will be of interest or entertaining to them. Then, also use other forms of content, including long-form videos and written content, to build a deeper relationship with your audience, and provide more opportunities for like-minded people to connect.
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