What’s one minute of video really worth?
Is one minute of video really worth 1.8 million words of text? A video marketing strategy at its best is the most powerful way to get your brand message across, but does that mean it equals 1.8 million words? What does a statistic like this actually add to our understanding?
Video marketing is really having its moment, and I’m often asked to talk and write articles about the power of video. When facing a room full of marketers, I need data to help me demonstrate the benefits of video content and add substance to my experiential insights.
But recently I’ve been growing increasingly suspicious about the data I come across online. Often I find a killer stat in an article and then go on a wild goose chase to discover the origin of the data. After delving further, time and time again I find that the statistics are outdated, use too small a sample size to be relevant, or are unsubstantiated.
A video to call time on dodgy data
This growing trend has inspired us to produce an animated video calling time on dodgy data. Watch our new film “Shifty Stats Laid Bare” now:
I confess that I have used the quote “one minute video is worth 1.8 million words of text” attributed to Dr McQuivey of Forrester Research, in an article as an attention grabbing metaphor. However in its endless repetition across the internet, it feels as though it has the weight of science behind it. When this quite clearly is not the case, it does make me question how much insight it really gives us. Once these stats are out there, they seem to proliferate online without being checked thoroughly.
What video data can we rely on?
In the wider context, the battle for reliable data is highly topical in the aftermath of surprise, poll-defying election results and Facebook’s fake news scandal, where unsubstantiated stories are being shared unchecked across the network which is worrying when over 40% of North Americans say that they get their news from the channel. Added to this are debates around the reliability of video metrics after Facebook admitted they had miscalculated the average duration of video viewed stats. What stats can we trust?
Use scrupulous stats to tell better stories
Of course, accurate, relevant and actionable data is vital. Market research can be invaluable in order to develop a fuller understanding of your audience’s needs, desires and behaviours, and to discover the emotional drivers which will make them choose your product or service over others. Furthermore, when your content is out there online, you need to draw on data from video platforms, web and social media video analytics so that you can continuously improve ROI.
But the time is right to stop sharing the shifty stats. Online video marketing does work for brands, but as our own animation shows it’s knowing your audience and tapping into their emotions with powerful stories that counts. Data should be used to assist you to craft stronger stories and achieve better results by creating content that connects on a deeper level.
What are your thoughts on dodgy data? Are you sick of shifty stats about video marketing? Let us know in the comments below.
If you’re interested in hearing how video marketing can help your business (without any shifty stats, we promise) get in touch.