Video is making a serious dent in marketing spend and conversion, especially when it comes to social video.
Two-thirds of US marketers have spent money to promote videos on Facebook in the last year, according to a new report from Animoto, “The State of Social Video 2017: Marketing in a Video-First World.” The company surveyed 1,000 consumers and 500 marketers who work at companies that have produced at least two videos in the previous year to discover how marketers are using video on social networks and how the public is consuming them.
Of course, it’s not just Facebook getting marketers’ ad spend on social video. According to Animoto’s survey, 51 percent said they spend to promote videos on YouTube. That’s followed by Twitter and Instagram, both of which are used by 25 percent of survey respondents.