Video is more important to consumers now than ever before. Our annual State of Video Marketing survey with Wyzowl shows that 91{dba7cf0ad47ab1fe8fb56afab8625a63c119729bdcb3610dd520c9b91c38e48f} of businesses use video as a marketing tool, more than any of the previous years since the surveys started.
While video isn’t going anywhere, it’s constantly expanding, changing, and evolving to fit consumer preferences and new platforms — marketers must keep up.
Here, we’ll highlight five research-backed ways video consumption habits are changing and how marketers can respond strategically.
Online Video Consumption Statistics Marketers Should Know
How Video Consumption is Changing in 2023
1. Consumers increasingly rely on marketing videos from brands.
2. Escapism is the name of the game.
3. Consumers lean into their passions.
4. Production quality is becoming more important.
5. Consumers prefer shorter videos.
Navigating video in 2023
Online Video Consumption Statistics Marketers Should Know
As video continues to be integral to marketing strategies, marketers should keep the following statistics in mind:
- The number of digital video viewers worldwide is expected to reach 3.5 billion.
- In 2023, people are watching, on average, 17 hours of online videos per week.
- People are 52{dba7cf0ad47ab1fe8fb56afab8625a63c119729bdcb3610dd520c9b91c38e48f} more likely to share video content than any other type of content.
- 75{dba7cf0ad47ab1fe8fb56afab8625a63c119729bdcb3610dd520c9b91c38e48f} of viewers watch short-form video content on their mobile devices.
- 83{dba7cf0ad47ab1fe8fb56afab8625a63c119729bdcb3610dd520c9b91c38e48f} of marketers suggest videos should be under 60 seconds.
How Video Consumption is Changing in 2023
From video length to what attracts viewers — here’s what’s changing for video consumption in 2023.
1. Consumers increasingly rely on marketing videos from brands.
In the past, consumers would visit websites, look at online reviews, watch commercials, and maybe watch a few YouTube videos to learn about a product.
Now, with video accessible on every major social media network, they are learning to rely more heavily on this type of content in their research phase.
According to HubSpot Blogs research, 66{dba7cf0ad47ab1fe8fb56afab8625a63c119729bdcb3610dd520c9b91c38e48f} of consumers have watched video content (i.e., product demos, reviews, FAQs, unboxings, etc.) to learn about a brand or product.
The trend is clear: in 2023, consumers increasingly expect to see brand video content. Why?
Videos allow consumers to know how a product or service works in real life, discover any flaws before purchasing the item and identify perks they might not learn about in the text-based description.
Furthermore, this content might appear more authentic than a heavily edited product shot, which can boost a consumer’s trust in a brand or offer.
In fact, our most recent consumer trend tracker survey found 69{dba7cf0ad47ab1fe8fb56afab8625a63c119729bdcb3610dd520c9b91c38e48f} of U.S. consumers say it is more important that a marketing video be authentic and relatable than polished with high-quality video/audio.
2. Escapism is the name of the game.
In the past, older generations might have turned on their favorite TV sitcom or gone to the movies to escape daily life’s stresses. While the platforms have changed, the need for relaxing or entertaining content has yet to change.
According to HubSpot Blogs research, consumers primarily watch videos to “help me relax and unwind.” Additionally, people cited “To laugh or be entertained” as the second most common reason.
Even if you’re creating informative marketing videos, consider experimenting with funny anecdotes or adding other entertaining qualities. Are you interested in adding fun elements to your next marketing video? Get inspired by notable brands that effectively use humor in their marketing.
Some of the most well-received ads aired during the 2023 Super Bowl featured humor as a key component. When we asked 150 viewers what their favorite Super Bowl ad was this year, most chose a funny Dunkin’ ad featuring Ben Affleck.
3. Consumers lean into their passions.
Aside from looking for escapism, YouTube viewers are motivated to watch content that teaches them new things, primarily related to their passions, interests, hobbies, or social causes. In fact, according to HubSpot Blogs research, 13{dba7cf0ad47ab1fe8fb56afab8625a63c119729bdcb3610dd520c9b91c38e48f} of consumers watch videos to “explore an interest or passion,” while 11{dba7cf0ad47ab1fe8fb56afab8625a63c119729bdcb3610dd520c9b91c38e48f} want to “learn something new.”
Odds are your product relates to someone’s interests, hobbies, passions, or career. This is the type of person you’ll want to watch and enjoy your videos.
Creating a buyer persona and target audience around this type of person will help you identify video topics they’ll value, benefit from, and remember.
4. Production quality is becoming more important.
36{dba7cf0ad47ab1fe8fb56afab8625a63c119729bdcb3610dd520c9b91c38e48f} of consumers feel production value is “somewhat important,” while 28{dba7cf0ad47ab1fe8fb56afab8625a63c119729bdcb3610dd520c9b91c38e48f} feel it’s “essential.” But fear not — this doesn’t mean you need to rent a high-priced studio or enlist A-list celebs.
Instead, many ways exist to produce an affordable, solid-quality video from any home or workspace. And remember, often, a video’s success relies on its value. In other words, more than fancy lighting is needed.
Additionally, video software like Vidyard, Bonjoro, and TwentyThree makes it easy to record and send short video messages – like pitches, welcome videos, and more — to customers without needing a Hollywood budget.
5. Consumers prefer shorter videos.
Thanks to the rise of TikTok — and the wave of short-form content that followed — consumers are seeking quick, snappy videos. Specifically, videos under three minutes fall into a sweet spot.
If you’re new to video, starting with short-form videos can help you get your feet wet — and tell you what resonates with your audience.
You also need to set the right pace for your video content. Before you put a marketing video online, re-watch it from the point-of-view of a somewhat busy consumer. Then, ask yourself, “Does this video quickly pull viewers into the action and keep their attention?”
If you’re worried that parts of your video seem dull, shorten it. But, if your team thinks it’s entertaining or informative the entire time, you can experiment with publishing your longer-form video and learning from its results.
Navigating Video in 2023
With each new generation, the video world will continue to evolve.
However, at this point, the video landscape is changing in favor of marketers. Consumers prefer to learn about brands via video content and use it as a necessary tool in the information-gathering phase of their buyer’s journey.
Additionally, most video consumers now strive to learn something new about an interest or hobby rather than just using video to entertain themselves. This means marketers can harness educational videos in their strategy and offer consumers content related to their niche while also marketing a brand or product.
Video isn’t going anywhere but constantly expanding, changing, and evolving to fit new consumer needs and platforms.
As this content evolves with each new generation, marketers should continue researching video consumers’ interests, hobbies, and behaviors.
