What types of videos should I make?
Like any modern finance marketer out there, you’re balancing time, team, and budget for your video content.
And you’re not alone.
The 2024 Wistia survey found 93% of marketers see video as crucial to their marketing strategy. Like you, they face significant roadblocks with time, team limitations, and cost.
This makes it even more essential to know what types of videos to create and how long your video should be, which can significantly affect the cost of production.
In this post, you’ll learn:
– what types of video to make
– average engagement rates for financial service & tech videos
– what type of videos holds attention across industries
– an expert’s advice to get you through video creation roadblocks
– where to put conversion opportunities and where to share
Ok, now let’s get to it!
As businesses grow, the amount of videos they produce grows with them.
The survey reveals the top three types of videos that marketers want to create in 2024, and they are: product videos, educational and how-to videos, and social media videos.
Why these types of videos, though?
It can be a product or service launch, an internal request or creative idea, or the result of past video initiatives that influences the type of video they make. These are at the top of what drives video creation in surveyed companies.
Top 3 Video Types in 2024
Other notable types of videos marketers are now making are webinars, promotional videos, customer testimonials, sales videos, original series, and company culture videos.
Other Video Types marketers are making in 2024
Some metrics are more important than others.
For videos, you will always look at engagement rates (that is, the chunk of your video that the viewer watches) to see what you can improve and know what kind of videos are working for your audience so that you can double down on them later on.
Let’s see how much of a video your audience watches.
Bite-sized videos win engagement for Financial Industry videos
Videos under 3 minutes and videos 3-5 minutes in length get the highest engagement of 46% and 43% for Financial Industry videos.
Engagement Rate: that chunk of your video the audience watches
Consistent 50%+ engagement for tech videos
It’s interesting to see that engagement for technology videos is almost the same for shorter videos that are less than 5 minutes, and with longer ones that are up to 30 minutes. It shows that there is a lot of interest in tech, and whether you decide to produce shorter or longer videos, you surely won’t go wrong if video marketing takes a big chunk of your marketing plans.
Instructional Videos win across industries
Across industries, Instructional Videos win with engagement rates peaking at 74% for short-form videos of 3-5 minutes length. This may be in relation with user intention when searching and deciding to watch these types of videos, compared to the other types, which makes the case of creating instructional videos around questions asked about your financial product or service.
Instructional vs. Other Video Types
Only Instructional and How-To Videos engage at 52% – 74%, for videos up to 30 minutes. Company culture videos follow at peak engagement of 53%, and educational and product videos at 50%.
The biggest takeaway by Wistia is that your audience want to learn how to use your product and gain industry expertise, given that educational and instructional videos were the most engaging type of video content made by businesses last year.
Getting past video creation roadblocks
Now that you know what type of videos to focus on, don’t let resource limitations hold you back.
Here’s an expert advice from Hubspot Head of Audience Development, Andrea Hudson.
For businesses truly looking to scale: Invest in creators, hire an in-house producer, and leverage AI video tools for your team.
AI Uses for Video Creation
Companies are figuring out how to expand their team and capabilities with AI, with a huge 66% of survey responders saying they can’t wait to use AI for video in 2024.
The top uses for AI in video creation are for captioning or transcribing, for generating scripts, outlines, or ideas, and for generating visuals, music, and overdub fixes. This if followed by finding key clips to edit, helping creating the social copy
Video Conversion Opportunities
Knowing where to place conversion opportunities will play a big role in your video marketing. I personally thought that a lot would instinctively place these opportunities at the end of a video, but the survey revealed otherwise.
A significant 49% of companies chose CTAs as the most useful conversion tool, but insights reveal that they don’t always place them at the end of a video. It’s important to note that where they place it influences conversion rates or if the viewer takes the desired action.
For higher conversion rates, aim to place your CTAs and email capture forms, the 2nd most effective conversion opportunity, in the fourth quarter of your videos, where they get 33% and 23% respectively.
Know where to share your videos
On your website, in emails, and on LinkedIn platform, is where you’d want your videos to go, if you will base that decision from survey results. YouTube and other social media platforms like Facebook and Instagram, make the top 6.
That said, the choice would clearly depend on the type of business you have and where your audience is. B2B companies, and even B2C companies, will definitely make LinkedIn part of their video marketing if they want to build trust and establish thought leadership in their industry, with decision-makers choosing to actively be on this platform.
More insights
For more insights to inform your video marketing, you can find Wistia’s 2024 State of Video report here.
If you need help with your video strategy or need to extend your team’s video content volume , we have video content solutions for every goal and size. Just send us a message below.
Your audience wants to learn how to use your product and gain industry expertise.
-WISTIA
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