Increasingly, video is replacing text.
2011 statistics are difficult to come by (yet), but we do know that, according to a comScore study released in February 2011, 82.5% of the U.S. Internet audience viewed a video online. As far back as October 2009, Mashable notes that YouTube already was serving 1 billion videos per day. We also know, for example, that Discovery Channel increased video streams by 123% in 2010.
So, yes, we're watching more video online -- lots more. And, for marketing purposes, videos can't be beat.
• Better Conversion. Online retailer Ice.com reportedly found that viewers who chose to view video converted at a 400% increase over those who did not.
• Decreasing Returns. Ice.com also credits video with decreasing returns by 25% (Internet Retailer, December 2009).
• Better Conversion Again. Shoppers who view video at Onlineshoes.com convert at a 45% higher rate than other shoppers, and the site has seen a 359% year-over-year increase in video views. Product pages with video have higher conversion rates than product pages without video. (Internet Retailer, February 2010).
For more stats, check out "101 Online Video Stats" To Make Your Eyes Glaze Over" by Matthew Bavosa at engage.com. Or visit stats from activate media group.
So, if you're still getting resistance to the video marketing investment, let's hope this ammunition packs enough fire power to argue for a test.
-- scrubbed by Marketing Brillo