The State of Video Marketing in 2024: Important Things to Know

In 2024, video marketing has become super important for businesses all around the world. The 2024 State of Video Marketing Report by Wistia, along with other industry insights, shows how companies are using videos more and more to get their messages out. Here are some key points and tips that can help your business stay successful in this ever-changing world.

1. People Are Watching More Videos

Even though 2023 was a tough year for many, people watched more videos than ever before. Wistia reports that video plays went up by 15%, and the total time people spent watching videos increased by 44%. This shows that people really like video content, especially as search engines are making it easier to find videos. For businesses, this means creating videos is not just a good idea—it's necessary to stay visible and keep people interested.

2. Educational Videos Are the Most Popular

One of the biggest findings in the 2024 report is that educational and instructional videos are the most engaging. These videos teach people something useful or show them how to do something, and they are great at keeping people’s attention. You don’t need to spend a lot of money to make these videos either. Even simple videos, like those shot on a webcam, can be very effective. This makes video marketing possible for businesses of all sizes.

3. Conversion Rates Are Key

When it comes to figuring out if your videos are successful, conversion rates are super important. Wistia found that videos with embedded calls-to-action (CTAs), annotation links, and email capture forms do much better than others. For example, videos with email capture forms have a 23% conversion rate, which is much higher than the 13% for videos with just a CTA. Also, longer videos (over five minutes) tend to keep people watching longer, giving you more chances to get them to take action.

4. AI Is Helping with Video Production

Artificial Intelligence (AI) is becoming more important in video marketing. In 2023, 18% of businesses used AI for things like captioning, writing scripts, and editing videos. This number is expected to grow, with 66% of companies planning to use AI even more in 2024. AI helps businesses make more videos with fewer resources, making it an important tool for growing video marketing efforts.

5. Best Places to Share Your Videos

Sharing your videos in the right places is key. The report shows that putting videos on your company’s website is still the best way to reach people, with 67% of businesses choosing this option. Email campaigns, LinkedIn, and YouTube are also great places to share videos. The report also says that using vertical video formats on social media, especially on Instagram and LinkedIn, gets more people to watch and interact with your content.

6. Challenges in Making Videos

Even though video marketing has lots of benefits, many businesses still find it hard to make videos. In 2023, some companies made fewer videos because of budget cuts and smaller creative teams. Common problems include not having enough time, people, or technical skills. But, with AI tools and a focus on making simple, impactful videos, these challenges can be overcome.

7. What’s Next for Video Marketing

Looking ahead, the need for video content is only going to grow. Even though businesses might make fewer videos, people are more engaged with the ones they do make. This means viewers care more about the quality and relevance of videos than how fancy they look. As AI tools get better, they will help businesses create more personalized and interesting content, making video marketing even more effective.

Conclusion

The 2024 State of Video Marketing Report makes it clear that video is a must-have in today’s marketing strategies. By focusing on educational content, making videos that drive conversions, using AI, and sharing videos on the right platforms, businesses can get the most out of their video marketing. Keeping up with these trends is important for staying competitive in the fast-paced digital world.

For businesses like Storyvord, this means offering a marketplace where video producers can get the best price for their work and stay ahead in the video marketing game. If you want to learn more, you can check out the full 2024 State of Video Marketing Report on Wistia’s website

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