As marketers plan ahead for the remainder of the year, new research suggests that they will be shifting more of their budget priorities to online video.
WARC recently published its “Marketer’s Toolkit” for 2021, and the statistics show that overall, most marketers (70%) say that their investment in online video will increase this year. About 19% said that it will at least stay the same, and only 3% stated that it will decrease.
In terms of investment in digital platforms this year, the majority of marketers (54%) said that they will increase how much they put into YouTube, while 34% said that they will at least contribute the same amount they’ve been putting into it thus far.
Other platforms that marketers are looking into increasing their investment in include Google (53%), Instagram (52%) and TikTok (44%).
Marketers and the Value of Video Content
This is not the first batch of research to suggest that marketers are growing more interested in video. Previous research indicates that video content is increasingly becoming a staple for many in the industry.
Vidyard and Demand Metric conducted “The State of Video 2020” report, and data showed that last year, video was the most important form of content for the majority of organizations (76%). This is compared to 71% who said the same in the prior year.
In the future, most marketers (83%) believe that video will become even more important to their business. This was compared to just 13% who said that they believe its importance will stay the same.