Investing in Editorital Content

Part
01
of one
Part
01

Video Editorial Content

While there is limited data compiled specifically for, let alone about, the food delivery service industry on the effectiveness of video editorial content, there is clear evidence that original digital video content, editorial and otherwise, is amazingly effective in reaching customers in a B2C business. This has not escaped the attention of marketers, who are putting more and more of their advertising budgets into producing original video content and who report an excellent return-on-investment as a result.

VIDEO CONTENT IN THE FOOD DELIVERY SECTOR

While there was a dearth of sources which focuses specifically on the food delivery industry (B2C or otherwise), a recent article from RubyGarage brings to light the following statistics in the context of discussing how to market a food delivery app:
  • 70% of users prefer to learn about products via content rather than by ads.
  • 84% want content which "entertains, tells stories, and provides solutions," areas in which video excels.
  • 54% of users want to see video content from brands they support, the highest of any channel (e.g., the next highest, email and newsletters, were desired by only 46% of users).
  • 64% of users are more likely to buy a product after watching a video.
  • However, even more (79%) say that a video convinced them to purchase an app or other software.
  • 90% say that videos are useful in the decision-making process.
  • 41% of companies which use video see more web traffic as a result.
  • Having a video in an email increases click-through rates by 200% to 300%.
  • 67% of marketers find video marketing to be at least "somewhat successful."
  • 92% of users who watch videos on a mobile device will share at least some of that content with others.
  • 98% of users have watched at least one tutorial video to learn about a product or service.

GENERAL VIDEO MARKETING STATISTICS

Not all statistics supporting the use of video content in general and editorial content in particular focus on the food delivery industry, of course. Some additional pertinent data points include:
  • The average person watches 182 online videos a month.
  • Videos are shared twelve times as often as links and text combined.
  • Only 5% of viewers stop watching a video after one minute, but 60% stop after two.
  • Forbes claims that the average consumer will spend 88% more time on a website that has video.
  • Forbes also claims that a consumer is 95% likely to “remember a call to action” when it is presented in a video format, compared to just 10% who remember one delivered in text.
  • Given a choice between text and a video, 72% “would rather use video to learn about a product or service.”
  • In another study, 68% say that they prefer to learn about a new service or product via a short video, making video far more effective than text (15%), infographics (4%), sales pitches (4%), or ebooks (3%).
  • 73% of consumers claim to have made a purchasing decision that was influenced by a brand’s social media presence.
  • 76% of businesses report increased web traffic due to using video.
  • Those that use video also show an average 66% increase in website conversion rates.
  • Businesses that market through video grow revenue 49% faster than those who do not, on average.
  • A video on one’s landing page can increase one’s conversion rate by over 80%.
  • 43% of consumers would like to see marketers provide more video content, and an equal percentage “prefer vlogs to blogs.”

If one's target demographic is the Millennial generation, video ads are even more effective. According to a 2018 study by Brightcove:
  • 76% of adults and 85% of Millennials have made a purchase after viewing a video.
  • 23% of adults and 30% of Millennials "want shoppable video."
  • 53% of adults and 66% of Millennials will engage with a brand after seeing a video on social media.
  • Speaking of Millennials, a majority (57%) have food delivered so that they can watch movies and TV shows at home, suggesting that ads embedded in digital video is a good place to engage them.
  • We found one contrary source to the general enthusiasm for video content marketing, which notes, "articles with YouTube videos on them performed even poorer in terms of audience engagement, scoring a full 40% lower in their comments than articles with interactive charts." We are uncertain as to the methodology which came to this contrary result, and mention it here as an exception to the rule.

PLATFORM STATISTICS

  • The Social Report reports that 65% of ad impressions on Instagram "were the result of video content, and we’re expecting that number to grow even further."
  • Organic Facebook engagement is slightly higher in posts with videos (13.9%) than those with pictures (13.7%).
  • Branded videos are most effective on Facebook (49% engagement), followed by YouTube (32%) and Instagram (24%).

THE MARKETERS' RESPONSE

Marketers have taken note of the above statistics. The IAB 2018 Video Ad Spend Study interviewed 353 marketers, 7% of which worked in the food & beverage industry, with the following results:
  • Advertisers planned to spend an average of over $10 million on digital and mobile video advertising in 2018, a 53% increase from 2016.
  • In the food & beverage industry, the average was $9.0 million, a 19% increase from 2016.
  • In 2018, 59% of digital ad budgets were dedicated to video.
  • Original digital video content is slowly overtaking other digital video content, growing from 43% in 2016 to 47% in 2018.
  • Budgets for original digital video advertising grew 68% from 2016, reaching an average of $4.7 million in 2018.
  • The quality of the video program is the most important criteria in how consumers decide between brands at 47%, with attractive costs being the second most important at 40%.
  • Note that the IAB study contains considerably more data on how marketers are using digital video as a channel and their results than are practical to include in this report, and we highly recommend reading the study in full.

Other sources provide the following additional data on marketers:
  • According to the overwhelming majority of marketers (97%), video is effective in increasing the viewer’s understanding of a product or service, and 76% say that this has helped them to increase sales.
  • Mobile video ads hit $2.62 billion in 2018, which is expected to be only 72% of 2019’s total spend.
  • 69% of marketers say that they are increasing their video marketing budget.
  • 78% of CMOs believe that “custom content is the future of marketing.”
  • 87% of marketers make use of video to reach their audience.
  • 88% are satisfied with the ROI on their video marketing, and 66% claim to bet more qualified leads as a result.
  • 93% of marketers claim to have gained at least one new customer as a result of a video on social media.
  • The most common videos made in B2C businesses are “product videos, demos, and how-to explainers.”

RESEARCH STRATEGY

We began our research with a general survey of articles, white papers, and blog posts written by prominent marketing and social media firms which discussed the statistics surrounding the effectiveness of digital video in general, and editorial content in particular. Most data points pertained to the former, forcing us to make judgment calls on which were relevant to the report criteria. Fortunately, we found no shortage of useful data in this regard.

Since this request pertains to the food delivery industry in particular, we next looked for any data specific to the use of video in general and editorial video in particular in relation to that industry. This led us to a pair of articles on the effective use of digital video content written for the food delivery industry; however, said articles simply quoted statistics that we found in non-industry-specific pieces. We pulled these together into their own section which we have given the most prominence but, noting that the statistics were cross-industry in nature, did not hesitate to include additional information from other sources below that.

Note that we found few references to "video editorial content" as such. Instead, most marketers discuss the benefits of “custom digital content,” i.e., content created specifically for the internet rather than simply posting, for example, a clip of a television ad campaign. In fact, the term “editorial video content” and variations thereof primarily seem to appear in older articles, with most (but not all) publication dates seeming to be from 2014 and before. As it was outside of our scope, we did not attempt to determine how the term may have evolved in usage over time. Instead, we simply confirmed from a 2018 article that there was sufficient overlap in the concept of custom content and editorial content that what applied to one could be generally expected to apply to the other.

In addition, much of the data was not overly specific about what kind of video content was the subject, likely grouping basic video ads and more editorial content together. For the most part, we have not included data which specifically referenced “video ads.” The exception to this rule is the IAB 2018 Video Ad Spend Study, which contained a wealth of data on the use of video to promote brands and is well worth pursuing in its own right. If these data points are considered to be outside of the specific criteria of this project, then they may be considered bonus material.
Sources
Sources

Quotes
  • "65% of ad impressions on Instagram were the result of video content, and we’re expecting that number to grow even further."
  • ""
Quotes
  • "For example, articles with YouTube videos on them performed even poorer in terms of audience engagement, scoring a full 40% lower in their comments than articles with interactive charts."
Quotes
  • "69% of marketing professionals say their video marketing budget is increasing (Source: Ascend2)"
  • "Mobile video advertising spending already hit $2.62 billion last year – which is expected to be around 72% of total digital ad spend by 2019 (Source: eMarketer)"
Quotes
  • "The average person watches 182 online videos per month. By including video content in your blog, you can attract a large amount of website traffic. Tweet This Fact! Source: Digital Buzz Blog"
Quotes
  • "78% of CMOs think that custom content is the future of marketing. Evidence points to the future of marketing being custom-made content. There’s tons of content out there, so users expect to find something that will perfectly provide what they need. For video content especially, CMOs agree that personalized content is the future."
  • "43% of people would like marketers to provide more video content. The use of visuals is gaining momentum. Some users aren’t as impressed with written-word blogs. Marketers are aware of this trend and have begun to address their audience with video blogging (vlogging). And the blogging statistics show that 43% of people prefer vlogs to written blogs."
Quotes
  • "85% of all internet users in the United States watched online video content monthly on any of their devices (Statista, 2018)."
  • "25-34 year olds watched the most online videos, with adult males spending 40% more time watching videos on the internet than females. "
  • "The time spent by users in the United States watching video content weekly on a smartphone is also seen to be growing over time. "
  • "Studies show that 54% of consumers want to see more video content from a brand or business they support (HubSpot, 2018)."
  • "The 2019 report shows that 87% of marketing professionals use video as a marketing tool (Wyzowl, 2019)."
  • "Videos are a consumers’ favorite type of content to see from a brand on social media (Animoto, 2018)."
  • "Based on the 2018 State of Social Video Marketer Trends report, 73% of consumers claim that they have been influenced by a brand’s social media presence when making a purchasing decision."
  • "88% of video marketers are satisfied with the ROI of their video marketing efforts on social media (Animoto, 2018). The same report shows us that 80% of marketers also claim to be satisfied by the ROI of video ads that they have posted to social media."
  • "According to Optinmonster, video marketers get 66% more qualified leads per year (Optinmonster, 2019). Optinmonster also concluded that video marketers achieve a 54% increase in brand awareness. Additionally, 93% of marketers say they’ve landed a new customer thanks to a video on social media. "
  • "The average user spends 88% more time on a website with video (Forbes, 2018)."
  • "Try creating product videos, demos, and how-to explainers for your audience. These are the most common videos produced by B2C companies."
  • "Where both video and text are available on the same page, 72% of people would rather use video to learn about a product or service (Wyzowl, 2018)."
  • "YouTube is the second largest search engine. It receives more than 1.5 billion users per month and plays over 1 billion hours of video each day to users (SEJ, 2018)."
  • "Viewers are 95% more likely to remember a call to action after watching a video, compared to 10 percent when reading it in text format (Forbes, 2017). "
Quotes
  • "93% of businesses reported gaining a new customer as a direct result of a video posted on social media. (Animoto)"
  • "Of businesses using video marketing, 76% reported an increase in traffic due to video. (Wyzowl)"
  • "Companies using video in their content marketing mix show a 66% higher average website conversion rate (4.8% vs. 2.9%). (Aberdeen Group)."
  • "Businesses and marketers who used video ended up growing revenue 49% faster than non-video users in 2017. (Vidyard)"
  • "Enjoyment of video advertising increases purchase intent by 97% and brand association by 139%. (Kissmetrics)"
  • "Because of its visual nature, 80% of users can recall a video ad they’ve seen in the past 30 days. (Forbes)"
  • "30-second ads have a 30% higher view-through rate (VTR) than 15-second ads. (Think with Google)"
  • "Video ads from brands on social media are the number #1 way consumers have found out about brands, even beating out recommendations from friends and family. (Animoto)"
  • "Organic Facebook engagement is highest on posts with videos (13.9%), with photos coming in second (13.7%). (Locowise)"
  • "Of those with videos on-site, 80% of marketers say video has increased dwell time. (Hubspot)"
  • "Consumers engage with branded videos the most on Facebook (49%), followed by YouTube (32%), then Instagram (24%). (Tubular Insights)"
  • "Videos in email have been shown to increase click-through rates (CTR) by over 96% on the first introductory email. (Single Grain)"
  • "Emails with the word “video” in the subject line are opened 7% more often. (Single Grain)"
  • "Viewers retain 95% of a message after watching it in a video, compared to 10% when reading it in text. (Wirebuzz)"
  • "97% of video marketers reported that video increased user understanding of a product or service, and 76% reported video helped them increase sales. (Wyzowl)"
  • "46% of users act after viewing a video ad. (WordStream)"
  • "When users enjoy video ads, their purchase intent is increased by 97%. (Strategic-IC)"
  • "Including a video on your landing page can increase conversions by more than 80%. (WordStream)"
  • "Including video thumbnails instead of images in your email can increase clicks by over 21%. (Wistia)"
  • "After watching a branded video they enjoyed, 83% of consumers would consider sharing it with their friends. (Wyzowl)"
  • "Videos are shared 1200% more times than links and text combined. (Virtuets)"
  • "After one minute, only 5% of viewers stop watching videos, but 60% will stop watching after two minutes. (VideoGuru)"
Quotes
  • "83% of marketers say video gives them a good ROI (up from 78% in 2018.)"
  • "79% of people say a brand’s video has convinced them to buy a piece of software or app."
  • "68% of people say they’d most prefer to learn about a new product or service by watching a short video. This makes video more popular as a learning tool than text-based articles (15%), infographics (4%) presentations and pitches (4%) ebooks and manuals (3%)."
Quotes
  • "57 percent of millennials say that they have restaurant food delivered so they can watch movies and TV shows at home."