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Understanding the Power of Video as a Marketing Tool

As social media use grew in the past decade, so did the reach of online marketing videos, according to a recent report from marketing firm Wyzowl. Data from nearly 700 marketers and consumers reveals some of the powerful reasons video has become one of the key ways for business owners to share company information, quick DIY tips and personal insights about their teams.

Video’s marketing potential is growing: 92 percent of marketers say it’s an important part of their strategy and 20 percent of marketers used video for the first time in 2019.

Nearly half of all marketers say they started using video because it became more affordable. Of the marketers who used video for the first time in 2019, 47 percent say it’s becoming less time-consuming to create video content.

While YouTube remains the most popular platform to post videos, marketers are expanding their reach, Wyzowl reports. After YouTube, the most popular places to post videos are Facebook, LinkedIn and Instagram. New social media platform TikTok is still relatively unexplored, but 66 percent of marketers who have used it report success.

Marketing Side

80% of video marketers say video has directly helped increase sales for their companies.
43% of video marketers say video has decreased the amount of support calls they field.
95% of marketers plan to increase or maintain their video spend in 2020.

Consumer Side

96% of customers have watched a video to learn about a product or service.
16 hours is the average time consumers spend watching online videos each week.
Customers are 2x more likely to share video content than other media.

Source: The State of Video Marketing 2020, Wyzowl

Video Marketing Tools
Ready to take the plunge into using video to promote your business? Visit HPRmag.com/video-strategy to learn how short, simple videos can propel your brand.

About Todd Taber

Todd Taber
Todd is an assistant editor for Hardware Retailing magazine. He graduated from Indiana University where he majored in journalism and French. Throughout his career, he has aimed to highlight small businesses and their community value. He joined NRHA in 2017 and now serves on the news and marketing teams. In his free time, he likes to run, spend time with family and travel the country.

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