There is no such thing as a video compressor because almost all common video formats already use highly compressed codecs such as H264, which is commonly used in MP4 and MKVs.
The only way to shrink a video file is to reduce its quality or remove some extra tracks, such as audio in other languages, if it contains them.
You can reduce the resolution to 720p, but first I recommend installing MediaInfo software to see the actual Bitrate of your video, then divide it by 2 in a calculator and use it as the constant Bitrate in any encoder software.
I say divide Bitrate by 2 because if you get half the resolution (720p instead of 1080p), you'll only need half the video Bitrate. This way, you can reduce the size of the file significantly.
Just keep an eye out for KBs or MBs in Bitrate; if Bitrate is in MB but your encoder software only accepts KB, you'll need to convert MB to KB before dividing.
As encoder software, I recommend Avidemux or Handbrake, but if you want something easier to use, Format Factory is also an option, but be aware that it includes bundles that you must be careful not to agree to install.