35 Insightful Video Testimonial Statistics (for 2024)
According to statistics, 72% of customers trust a brand more with positive video testimonials.
As such, videos have taken center stage in marketing strategies with more than 91% of businesses using videos as a tool in 2024.
This is just the tip of the iceberg of what you should know about video testimonials.
Here are 35 enlightening video testimonial statistics to help you make the best decisions.
Key Video Testimonial Statistics
- 72% of customers trust a brand more with positive video testimonials.
- 90% of marketers say video marketing has given them a good ROI.
- 73% of B2B businesses report positive ROI after using video in their marketing strategy.
- 85% of video marketers planned to increase or maintain their spending on video in 2024.
- Using a third-party agency, 44% of marketers said they spent above $15,000 to produce a single video testimonial
Sources: Famewall, wisernotify, Wyzowl
Video Testimonials Statistics on Sales and Return on Investment (ROI)
Video testimonials record your customers sharing their experiences and ROI. When leads watch these testimonials, they understand the value and benefits they may receive.
These leads then convert faster, increasing both your sales and ROI.
For example, Ev Chapman’s video testimonial is an example of a video that increases sales for a product.
This testimonial video from Notion showcases the product and its benefits convincing a user about why they need to try the product.
64% of viewers say they are more likely to purchase a product after watching a video testimonial. Moreover, enjoying a video can improve purchase intent by 97%.
More marketers are adding video testimonials to their sales pages because they can increase conversions by 80%, and 90% of marketers say video marketing has given them a good ROI.
72% of customers trust a brand more with positive video testimonials
Some metrics are crucial for showing engagement on social media.
After all, marketers quantify video success with video engagements such as likes, reposts, and shares (60%), views (40%), or bottom-line sales (32%).
90% of marketers say video has helped boost brand awareness.
Marketers use advanced techniques to grab viewers' attention because the average time people spend watching a video on Facebook is 4.57 seconds.
88% of marketers declared users understand their product and service better after watching a video.
Video Testimonial Statistics for B2B Marketing
B2B Marketing is all about showing how your product or service can solve challenges specific to your target business audience.
Using video testimonials is the best way to build relationships and provide unique value to your customers.
Here are video testimonial statistics showing a positive impact in B2B marketing.
Based on data from our product Famewall, we've found that B2B buyers consider several key factors before making a purchase decision.
Notably, 76% consult review websites, 56% look at customer testimonials, and 21% rely on customer word of mouth. These percentages indicate that buyers often use multiple sources to inform their decisions.
80% of B2B businesses that use video for marketing report positive ROI.
59% of managers and directors say they prefer video over text. Video is undoubtedly one of the best ways to sell to businesses.
73% of B2B businesses report positive ROI after integrating video into their marketing strategy. Video marketing has become an increasingly effective tool for businesses.
Watching work-related video content is becoming common among executives, with 75% doing so at least once a week. This makes videos a sound communication tool.
Video Testimonials Statistics on Production and Trend
There is never such a thing as having too many video testimonials.
For instance, we currently showcase seven of the many testimonial videos we received from our customers and have seen website conversions increase by 34%
Marketing360, on the other hand, displays more than videos.
Other companies like QuickBooks have a dedicated testimonial playlist on their YouTube channel.
The fact is companies are investing more in testimonial videos. However, the cost varies depending on the company's production method.
Businesses create videos in-house (38%), by external agencies (24%), and both in-house and externally (38%).
31% of businesses produce as many as 2 to 4 videos monthly as part of their marketing strategy.
Using a third-party agency, 44% of marketers said they spent above $15,000 to produce a single video testimonial.
Despite this cost, 49% of marketers think the price of video testimonials is on the rise, 29% say it's getting cheaper, and 21% say the cost is staying the same.
With tools like Famewall, there are better and more affordable ways to collect professional video testimonials without the need for an expensive production studio.
You just need to send a video testimonial collection page and your customers will record the video using their webcam or phone.
According to 78% of marketing professionals, it takes 4+ weeks to create a video testimonial
31% of SMBs say collecting video testimonials is too complicated and decide not to invest in them.
73% of marketers say they would produce more video testimonials (at least 50% more) if the process were faster.
Organizing and attending physical events is an important marketing strategy for many businesses.
30% of marketers use networking & meetup events to collect testimonial videos.
Statistics on Video Marketing and Advertising
Nowadays, people prefer watching video content rather than reading.
Marketers still use written content more, but the impact of videos is more profound.
88% of marketers see video marketing as an essential marketing strategy.
In fact, 68% of marketers who don’t use video in their strategy say they plan to start using it in 2024.
74% of major companies have created at least 5 testimonial videos per year
These companies understand the full impact of testimonials on their sales. Hence, 39% of marketers have created testimonial videos in 2024.
Though written content is still the most popular, with sites like Forbes driving over 57 million monthly visitors, 70% of marketers believe video converts better than any other medium.
Moreover, placing “Video” in a publicity email campaign boosts open rates by 19%, click-through rates by 65%, and reduces unsubscribe rates by 26%.
Adding a video to an email can increase click-through rates by 200-300%.
69% of marketers prefer to spend money on video advertisement rather than organic reach.
Use Video Testimonial Statistics for Key Decisions
Video testimonials are undeniably essential, and more companies will use them soon.
You can start building your first testimonial script and use a tool like Famewall to collect video testimonials.
Here are some additional resources.
Start using Famewall to collect testimonials from your customers and also aggregate them from 15+ social platforms. Then add them as social proof to your website in just a few clicks
The best part is that Famewall has followed all the best practices to make the best out of your testimonials. You can just copy & paste 2 lines of code to make them go live on your website
