Today we get to find out a little bit more about how today's marketers are employing video in their business, courtesy of a fascinating new study. The study is from King Fish Media, Hubspot, and Junta 42, and you can see the full report here—there's a quick registration process you need to complete before you'll be allowed through to see the e-book, but it's free.
The aim of the study was to determine the many ways that marketers are using video, and which of those uses is most prominent. More than half the respondents work in a business whose primary industry is advertising and marketing—people like you and me. The rest of the polling group were scattered across a variety of other industries.
You might be surprised by some of the findings, so let's dive in:
Social Media Usage
- 75% of the companies included in the survey have a social media strategy. Half of me thinks that's about right, and half of me wonders who these people are in the 25%
- 75% of respondents say their companies will increase investment in social media marketing over the coming year.
- 20% of them are redirecting funds from other, more traditional marketing strategies, to keep up with customers who are switching to social media. So… they're maybe buying fewer radio or magazine ads and are using that money for social media.
- 85% handle their own social media marketing with in-house staffers, as opposed to hiring consultants like you and me. Seems like a whole lot of potential customers for us are hiding in that 85% number.
- Only 30% have run an ad campaign on a social media site.
- A shockingly high number of respondents have never done any kind of ROI measurement—43%. Yikes.
- Respondents are using social media with a variety of intentions, with customer relations being the number one reason. Here are the rest:
- Only 50% are using video content with social media campaigns
- 87% are using LinkedIn, and 84% are using a Twitter account. Holy cow. Facebook is second, at 78%. 65% have a company blog. YouTube is all the way down in 5th place, with only 47% of respondents using the video service for marketing. Again, room for growth. Serious room for growth. In fact, the study gives numbers for which social media services respondents plan to use more in the future, and YouTube is number one, with 53% saying they're planning on adding it to their marketing efforts. (MySpace, you'll be glad to know, is at the bottom of the list, pulling only 9%). Here's a screenshot of the breakdown:
- Only 35% of respondents have a YouTube Channel.
- Video is the third most-used type of content in social media campaigns, behind "branded content you create" and "expert content.”
How Video Is Used
- 61% use video on their company website, while 56% use video sharing sites like YouTube. I am a little surprised to see so many hosting videos on their own site.
- The number one reason marketers use video is education—specifically the education of customers about the company's products and services—a whopping 72%. The second most common use of video—"bringing company employees and executives to life" is all the way down at 34%. I'm curious to know how these uses of video are defined. Would a standard commercial count as "education about your products and services?” How about a product demo? Testimonials?Regardless, it looks like the top two uses—educating customers and bringing employees to life—are directly related to marketing, where the rest of the list is comprised of other business uses for video—like replacing web casts, or replacing email and in-person meetings. I expect to see those "other business uses" to jump in the coming years, as more and more companies follow IBM's lead in embracing video as an internal communication tool.
It's easy to get caught up in this online marketing world we inhabit. I write about YouTube practically every day, so for me the site is integral to any sound business strategy. But studies like this help bring me back down to Earth by showing me how many companies are still not using YouTube. It's especially sobering considering how many of the respondents work primarily in the advertising and marketing realm. And yet YouTube seems poised for growth, with so many planning to use it more in the coming year.
In terms of purposes, education is one area that everyone seems to think video can help. Education about the industry, the company, the individuals, or the products. Video can tell a story that images and text alone cannot—we all know this already, but it's good to see so many social-media-savvy businesses agree. However, I think video will begin to replace a lot of other "old-school" business practices and standards such as staff meetings, collaborations, even documentation. We've only scratched the surface of how video is going to change business. I'm already looking forward to seeing a future installment of this same study, to watch how the numbers change, because I think the results could be wildly different even as close as a year out.
How do you use video? Is education your top priority? Or is it something else entirely? I'd be curious to see how closely ReelSEO's readers (and their customers) match up with the survey respondents.