A fantastical 4 billion videos are watched on YouTube everyday, double the number since 2010. Just to get that figure in perspective, there are 6.9 billion people in the world. It’s expected that 90% of all web traffic will be driven by online video by the end of next year.
Online Video is Growing at a Phenomenal Rate
The implications of these figures are massive for business. While a large portion of those hits are going on music and entertainment, there is irrefutable evidence that online video is the way forward for marketing.
Research has shown that 75% of executives watch work related video every week. Through our own qualitative research we know that there is a big shift in the way executives want information. A substantial proportion of business people actually prefer video over text as it provides a wealth of information quickly and comprehensively. The same goes if you are selling a product online. Viewers are 85% more likely to purchase a product after watching a product video.
Capitalize on Video
There is a huge proportion of companies out there that have yet to adapt to video. There are many who are doing video, but badly, and this can actually damage a business and there is a third group who make video and don’t get it out there properly.
There is a strong opportunity for business to capitalize on video, provided it is well made, properly targeted, distributed and optimized.