Video Marketing Statistics 2024

We gathered the video marketing statistics below by surveying 967 unique respondents in late 2023. Our sample included both marketing professionals and online consumers. We separated these groups with a preliminary question, to make sure that respondents were only asked questions relevant to them.

Section 1: Video marketing usage

🏆 91% of businesses use video as a marketing tool – maintaining an all-time high since we started tracking this data in 2016.

🔑 88% of video marketers see video as an important part of their overall strategy – slightly down on recent years, but still higher than when we first asked this question in 2015.

Reasons for not using video marketing…

⏰ Lack of time remains the #1 barrier to video marketing adoption. A third of marketers who don’t use video say it’s because they don’t have enough time.

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

🤔 15% of marketers who don’t use video don’t know where to start.

🤷 12% of marketers who don’t use video are unclear on the ROI of video marketing.

👎 And 10% of marketers who don’t use video don’t feel they need video in their marketing strategy.

BUT… 🔜 68% of of marketers who don’t use video say they plan to start using video in 2024.

Our analysis…

Video marketing remains a staple in the digital landscape, used by over 90% of businesses.

However, time constraints still present a formidable barrier, as a third of non-video marketers cite lack of time as their primary obstacle.

Even though marketers almost unanimously believe in the importance of video, many still seem to have difficulties when it comes to execution.

Adoption looks set to expand, with almost 70% of current non-users planning to use video in 2024.

But can the extensive and continued growth of video marketing last forever? With adoption holding steady over 90% – and further marketers set to join the party in 2024 – video may well be near saturation point. Looking ahead, video marketers may need to look outside the box for new opportunities and ways to use this most compelling of marketing tools.

Section 2: Types of video created

🎥 Live action video is the most commonly created type of video. 48% of video marketers have mostly created live action video. 🥈This is followed by animated video (24%) and screen-recorded (22%.)

Video is split quite evenly in terms of who creates it.

🏠 38% of video marketers create their content in-house. (Down from 60% in 2023.)

🎨 24% of video marketers exclusively use external vendors to create their content. (Up from 11% in 2023.)

☯️ And 38% of video marketers rely on a mixture of both in-house and external teams to create their content. (Up from 29% in 2023.)

Videos are being used for a wide – and evenly spread – number of different purposes…

39% of video marketers have created video testimonials, making this the most popular singular use case for video marketing in 2024.

This is followed by explainer videos (38%), presentation videos (34%) social media videos (34%), product demos (32%), video ads (30%), sales videos (30%), teaser videos (30%), customer service videos (28%), videographics (25%), employee onboarding (25%), training (22%), customer onboarding (22%) and app demos (22%).

Our analysis…

Animated and live action videos are still the most popular formats among marketers. As the amount of video content required rises, brands are increasingly supplementing or completely outsourcing their video creation. This is great for scale – video production can be faster, but it’s important for businesses to take steps to keep their output consistently on-brand. It’s also noticeable that video is used for such a wide range of different purposes. Testimonial videos remain an incredibly important tool, widely used to win customer trust and confidence. Explainer videos, too, are incredibly popular among marketers to help explain products, services, topics and ideas.

Section 3: The AI effect

🤖 75% of video marketers say they’ve used AI tools to help them create or edit marketing videos.

Our analysis…

This stat shows brands are really embracing artificial intelligence to speed up video production. There’s no doubt that AI can definitely pump out content faster. But brands must remember the importance of the human touch in crafting and telling compelling stories.

Section 4: Video marketing – The financials

🐷 The percentage of marketing budget allocated to video content varies wildly. Most marketers landed within the 21-30% range of their overall budget, but – as you can see – there was no real consensus. Grouping responses together, 6 out of 10 marketers reported spending between the 11-50% mark.

📈 85% of video marketers plan to maintain or increase spending on video in 2024.

📢 69% of marketers have spent money on video ads. 🌳 The other 31% relied on organic reach.

💸 49% of marketers feel the costs of video marketing are on the rise, while 29% say it’s getting cheaper.

😒 21% of marketers feel the costs of video marketing are staying pretty much the same.

Our analysis…

The amount spent by marketers on video content continues to vary widely. There’s no real consensus in terms of how much is a ‘normal’ amount to spend – ‘whatever works’ seems to be the order of the day. However – with the majority of marketers planning to increase their budget next year, it’s clear that video is set to remain a key priority. Another interesting takeaway is the fact that nearly a third of marketers rely solely on organic reach, rather than amplifying this through paid ads.

Section 5: ROI – What does success look like?

👍 90% of marketers say video marketing has given them a good ROI.

In terms of how they quantify/measure this…

👍 60% of video marketers quantify ROI through video engagement such as likes, shares and reposts.

🤝 42% of video marketers quantify ROI through customer engagement and retention.

👀 40% of video marketers quantify ROI through video views.

🗞️ 39% of video marketers quantify ROI through brand awareness/PR.

👛 32% of video marketers quantify ROI through bottom line sales.

🧑 28% of video marketers quantify ROI through leads/clicks.

Less is more…

Most marketers report success with short-form videos. 30-60 seconds is the most effective length according to 39% of marketers, followed by 1-2 minutes (28%), 30 seconds or less (18%), 2-3 minutes (10%) and 3 minutes or more (just 5%.)

And in terms of what, specifically, marketers say video has helped them achieve…

88% of video marketers say video has helped them increase user understanding of their product or service.

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

86% of video marketers say video has helped them increase web traffic.

87% of video marketers say video has helped them generate leads.

87% of video marketers say video has directly increased sales.

82% of video marketers say video has helped keep visitors on their website longer (aka dwell time).

66% of video marketers say video has helped them reduce support queries (an all-time high, and an increase of 13% from last year.)

Our analysis…

A large majority of marketers say video gives them solid ROI across key areas like sales, leads and brand awareness. But a lot still mainly measure success through vanity metrics like likes and shares rather than hard dollars. Short videos seem to perform best, which is good news for everyone – this content is quick for audiences to consume, but it’s also quick to produce, giving brands great scope for testing and iteration. Brands should use this opportunity to experiment with different styles and topics, see what sticks best with their audience. Bottom line: video marketing can directly impact lead gen, website traffic and sales. But brands need an optimisation mindset – use rapid testing to find the most profitable formats and strategies for each goal. Tying video marketing in with actionable insights on its performance, is perhaps the key to converting awareness into acquisition and real revenue growth: the ultimate measure of ROI!

Section 6: The customer view…

👨‍🎓️ 91% of people have watched an explainer video to learn more about a product or service.

🛍️ 82% of people have been convinced to buy a product or service by watching a video.

📲 77% of people have bought or downloaded an app after watching a video about it.

🙋 89% of consumers want to see more videos from brands in 2024.

🤩 87% of consumers say video quality impacts their trust in a brand.

💬 When asked how they’d like to learn about a product or service, 44% say they’d most like to watch a short video.

This comfortably beats off other materials such as ebooks or manuals (16%), infographics (15%), text-based articles (13%), sales calls (6%) or webinars/presentations/pitches (5%).

Our analysis…

This data shows that videos can seriously sway purchase decisions and help people learn about brands. And almost all consumers want more video content from the brands they follow. But quality matters big time – over 85% say production value impacts how much they trust a company. Given the choice, most people would prefer to learn about a product through a short explainer video versus other content. Ultimately – video is convenient, engaging and influential. This data creates a compelling case for brands to keep stepping up production and pumping out video content that informs, educates and convinces if they want to thrive in a video-first market. The demand and impact is clearly there!

Section 7: Video marketing channels

The 🎉 MOST WIDELY USED 🎉 video marketing platforms

As you might expect, YouTube is the most widely used video marketing platform with 90% of video marketers trusting the world’s #1 video site. Next up is Facebook (86%), followed by Instagram (79%) and LinkedIn (76%).

The 👎 LEAST WIDELY USED 👎 video marketing platforms

Virtual reality (56%) 360 video (56%) and Snapchat video (57%) come in as comfortably the least widely used video marketing platforms.

The 🤩 MOST EFFECTIVE 🤩 video marketing platforms

YouTube remains the most successful video marketing platform for marketers, with 78% reporting it to be effective.

This is followed by Facebook video (71%) Instagram video (64%) webinars (61%) interactive video (60%) and Twitter/X video (60%).

The ☠️ LEAST EFFECTIVE ☠️ video marketing platforms

Virtual reality (49%), 360 video (51%) and TikTok (52%) are reported as the least effective platforms for video marketing.

TikTok is a particular surprise here, but perhaps this reflects an ongoing struggle for B2B brands to find the right audience – and voice – on this heavily B2C platform.

Our analysis…

The obvious takeaway here is the diverse ways in which marketers are using video to try and achieve their goals. A wide range of channels are in use, with a wide variance in how successful – or unsuccessful – businesses find them to be. What stands out in this year’s data particularly is the rise in adoption of the least used channels. For example, last year just 13% of brands reported using Snapchat. In this year’s survey, that’s risen to 57%. Video marketing on X (formerly Twitter) also soared from 54% to 69%.

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