Video Marketing Trends and Their Relevance to Healthcare Practices
Each year, since 2015, Wyzowl [wise-owl], one of the world’s leading video production companies conducts an in-depth survey on the State of Video Marketing and follows it up with an insightful report. Wyzowl’s data has become highly renowned and many established companies now look to their annual report as the benchmark for understanding and navigating video marketing. This year’s report has some striking insights and reveals interesting trends that all marketing savvy businesses should be aware of, including healthcare practices.
The survey was taken by a sample of 528 participants consisting of both professional marketers and consumers. 8% of those were Wyzowl customers. All that to say, Wyzowl’s annual report is a fair and reliable indicator reflectingly reasonably unbiased data.
Overall, this year’s results indicate that video marketing continues to grow in popularity while being very effective in achieving results.
Before we get into the data, let’s first clarify the definition of ‘video’ in the context of this report. Wyzowl defines it as “animated, screen recorded, live action, and more.” This definition is in line with digital signage as a whole, as well as DSID’s video content library which our customers use to populate their presentations.
The second definition to clarify is Return on Investment (ROI). 63% of video marketers say that the number of video views is one of the metrics by which they measure the ROI on their video content, and that is the leading indicator. Secondary indicators are the level of audience engagement, the number of leads generated, followed by brand awareness.
How do customers/patients perceive video marketing?
It’s one thing to know how video marketers are using video and where they’re seeing results, but knowing how customers are consuming and responding to video is even more insightful. The overall results demonstrate that video holds a strong position in the customer journey, and one can reasonably extrapolate this to the realm of the patient journey. Customers and patients, particularly when it comes to elective treatments, are virtually identical.
The following data clearly confirms that people do watch videos to learn more about products and services, and one can confidently assume that patients are doing likewise when considering treatments and procedures.
It comes as no surprise that video is also influencing decision making, with 89% of people saying that watching a video has convinced them to buy a product or service. As a healthcare provider, consider the weight of this as you try convince patients to choose your services. Video has a key role to play in this regard.
When looking at the variety of marketing tools available to healthcare professionals, consider that 51% of people are more likely to share video with their friends than any other type of content.
As an aside, DSID’s content library is not confined to in-office use only. Almost all videos include a share link which gives you the ability to share DSID videos online or directly with patients via text or email. You can read more about that here.
Key ROI Insights
If you’re still uncertain about the worth of video marketing and whether there is truly any ROI to be had, consider the following:
96% of video marketers say video marketing has increased user understanding of their product or service. In the context of healthcare, this can apply to patient expectations, compliance, and successful outcomes.
Video marketing has shown to be successful in generating leads, with more marketers than ever before agreeing with this. As a healthcare professional, especially one in a specialty field, this is important information to consider.
And as one would assume, a positive impact on leads also results in a positive impact on sales and conversions, with 87% of marketers asserting this outcome – another an all-time high.
Doctors who are not actively operating in the realm of marketing but understand its importance often have questions about which form of marketing to focus on. Considering that 92% of marketers reported that video provides a positive ROI, a 5% increase from the past two years, suggests that healthcare professionals should absolutely include video in their marketing campaigns.
And to extend that thought, consider that 96% of businesses surveyed shared that they see video as an important part of their marketing strategy – the highest number in the past nine years.
Should healthcare practices make use of video marketing and how?
In 2023, video has firmly established its position in the realm of marketing and the customer/patient journey. The format continues to grow in use, with 91% of businesses using video as a marketing tool (yet another all-time high).
Whether you’re a dentist, orthodontist, or other healthcare professional, if your practice has not yet incorporated video into your marketing strategies and campaigns, it certainly is time to consider doing that.
We know from experience that many healthcare practices lack the time and resources, and don’t even know where to begin with creating videos. Many incorrectly assume that video is too expensive. The data back this up, but interestingly, comes from businesses that don’t yet use video as a marketing tool.
DSID has the solutions to make video marketing accessible. We provide custom content creation services at a competitive price with lightning fast turnaround, while making the process easy, fluid, and manageable for healthcare practices with busy schedules. Our team of animators and designers are ready and able to turn your needs and ideas into shareable, motion graphic videos. In addition, we provide the perfect in-office video platform (digital signage) for communicating your marketing messages and showcasing informative and engaging treatment related videos. Contact us for more information.
You can access the complete 2023 Video Marketing Trends Report from Wyzowl here: https://www.wyzowl.com/video-marketing-statistics.