87% of marketers using video ads believe that their company achieved a positive return on investment (ROI) in the past year, according to B2B software search site Capterra's study on social media video marketing
The survey, which includes responses from 255 Australian marketing professionals or executives, also found that brands intend to spend 10-20% more on video marketing in 2023.
21% of those surveyed said 21-30% of their company's total marketing budgets are for video marketing, and more than half (54%) also expect their organisations to spend more in 2023 than in 2022.
The study shows 63% of survey respondents citing 'access to a younger audience' as the most important benefit to incorporating video content into their social media marketing strategy. However, respondents cited 'posting consistently' (58%), 'attracting followers' (52%) and 'creating high-quality content' (47%) as the biggest challenges.
58% of survey respondents who work with organic video content said they feature influencer testimonials. The survey also found that 78% of respondents said their product or service was organically featured in an influencer's social media video positively, without a partnership.
Laura Burgess, Content Analyst at Capterra Australia, said marketers may find it useful to incorporate social media into their video marketing strategies to leverage the power of visual content.
"For companies on a budget, influencers can help when promoting both organic and paid video ads," she said.
“Influencers have built credibility and trust with their followers, and their unique perspective may result in engaging video concepts. As an aesthetic appeal, tone and length of video ads have the most impact on customers, influencers can bring creative ideas to the table to capture the viewer's attention, and potentially, drive product conversions."
The full article is on the Capterra Australia blog. The second part of this two-part study examines whether Australian companies are using generative AI tools to create video content.
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