Most companies struggle with their customer acquisition strategies. Most have an imbalance between investment and return on investment. Too often, this is because their communication is not relevant to their audience or people don’t feel particularly engaged by the messages. That’s where personalization comes in.
According to McKinsey, 50% of acquisition costs can be reduced by using personalization. Combined with the power of video content, this makes video personalization more important than ever. Video personalization helps brands make their communications more relevant and strike a chord with audiences.
Here are the video marketing statistics you should keep in mind as you develop your video content strategy for your business.
Video Marketing Statistics Related To Customer Engagement Statistics
- 93% of companies using personalized video content experience an increase in conversion rates. (EConsultancy)
- Personalized email videos have a click-through rate 8 times higher than a standard email campaign. (Campaign Monitor)
- A personalized call to action results in 202% more conversions than one that isn’t. (Hubspot)
- 40% of CEOs confirm that personalization increased sales, market size, and profit in direct-to-consumer channels. (Forbes)
- More than 98% of marketers say personalization improves customer relationships. (KoMarketing)
- Videos tailored to each individual have a higher click-to-open rate and a 4.5X higher unique click-through rate. (Planable.io)
- Businesses see 47% and 36% improvements respectively in customer loyalty and satisfaction when they use personalized marketing. (Qualifio)
- Less than 10% of marketing budget goes towards personalization according to 74% of experts. (VideoForm)
Statistics Related to Consumers’ Preference
- 61% of ultra-high-net-worth clients were open to using video chat with their financial advisors, eliminating the inconvenience of travel but still developing personal relationships while receiving advice on their financial situations. (Spectrum, 2016)
- Searches related to business terms have increased by 70% year over year on YouTube. (BrandWatch)
- 66% of people prefer to watch a video to learn about a product or service rather than read text. (Elite Content Marketer)
- Businesses in the finance industry cut their customer support time by half when they use video. (Forrester Report)
Statistics Relating to Personalized Video as a Principal Channel of Interest for People
- 93% of users believe that salespeople are not approaching them with relevant communications. (Martech)
- A survey found 81% of respondents wanted businesses to know when to contact them. (Marketing Dive)
- 70% of customers confirmed that personalization significantly influenced what they bought. (Infosys)
- More than five out of ten consumers are likely to switch brands if the brand doesn’t tailor their communication. (The Drum)
- Nearly 70% of consumers would like personalized communications from companies. (Accenture)
- Customers are more receptive to personalized messaging, leading to improved commercial outcomes by 16% on average. (Gartner)
- 81% of people want brands to get to know them and understand when to approach them. (VideoForm)
Statistics Related To Personalized Video Marketing Trends
- 97% of organizations are planning to boost their personalization budgets in order to target specific consumer interests. (Business2Community)
- 94% of senior-level executives believe that personalization is critical to reaching customers (Kernel)
- Personalized videos have a 164% average higher CTR compared with generic videos (Pirsonal)
- Personalized videos have an 86% average click-through rate, compared with 34% in generic videos. (Kernel)
- 97% of marketers plan to maintain or increase investment in personalization. (Salesforce)
- About 68% of marketers who use personalization rely solely on rules-based targeting, while 40% use either machine-learning algorithms or a combination of the two. (Evergage)
There you have it. These are the most relevant video marketing statistics to keep in mind when strategizing for your business. Taken together, these statistics highlight the importance of video communication and how personalization helps make your message more impactful.
By personalizing your videos, you make each and every person in your audience feel like an individual rather than part of a larger group of people. As a result, you get better engagement with your communications, which makes it easier to acquire customers and increase the ROI of your marketing efforts.