What are Statistics? Numbers, Percentages and Computations supporting a truth, consequence or trend and then make a prediction.
Where do statistics come from? Companies(vendors), such as Vidyard, Animoto, Social Media Examiner, etc are looking to improve their own business by examining statistics hoepfully to make a better and informed business decision. These companies try to help customers and leads make better industry and product decisions by providing the commissioned study as packaged and useful content. Usually, the results support the business case for using the vendor for the provided services.
Example of statistical use for marketing content: The State of Video Marketing Benchmark 2017 Study by Vidyard. Data collected from over 600 businesses in a 12 month period. Data is usually visualized in a graph or an image and usually has accompanying text that states the statistic and then qualifies the meaning of that statistic. Statistic: "The average length of a B2B video is 9 minutes or 538 seconds to be exact."
How you might use these statistics? To determine how long a marketing video you produce should last based on the Vidyard benchmark.
What do you really want to do with the statistic? A statistic is a tool or a tactic that can help you determine how to accomplish a marketing task with better results. The problem is that the population surveyed is limited. The data may not be relevant to your industry or may even be too "old" - the internet gives birth to new statistics every second of every day. So, be sure to use the statistic, the chart, the graph as a base guideline rather than a "fact in stone."
What is the danger of relying too heavily on statistics? Statistics can be used to influence a decision you make and therefore you should understand how the statistic was created or calculated. The same statistic can be used to uphold or rip apart the same fact or opinion - its all in how you package the "stat."
What is the difference between using a statistic as a tactic vs evaluating the statistic and using it as part of your strategic campaign? Statistics are a tool. A stat can be used to prove a point, convince someone to buy or move a viewer to making a decision. As a tool, it is a tactic that can be used within a total campaign. So in this example where we are looking at attention spans vs length of video, we can make some strategic decisions based on some facts that might increase the chances of a viewer watching the video until the final call to to action. However, the facts are generalized across all video production by businesses and may not be 100% applicable to your industry. But maybe the statistic can be used as a guideline. When you tie together this statistical tool with a strategy for having a series of shorter videos to move a viewer through the buyer's journey, then you have created a strategy and used a statistic to help create that strategy.
Where does it fit in for your marketing? In the case of your marketing, its important to create a strategic campaign. But you need to do your research and in that research unearth the numbers that will allow you to create a positive or negative case for the theory or action you are trying to advance with your video.
Do you want to create a more strategic video marketing campaign, designed to increase your conversion results by up to 10X. The Power360 Perfect Video Marketing Strategy Checklist can be downloaded HERE.
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