HOW CONSUMERS ENGAGE WITH VIDEO?
- People who regularly visit YouTube are likely to explore different video content while watching TV at the same time. In fact, according to Google, 85% of us are likely to use two or more devices at one time whether we’re relaxing or at work.
- Consumers are likely to buy a product after seeing a video about it (84%). On the other hand, over 90% of consumers have viewed at least one explainer video. Half of these think that an explainer video should only last for a minute or less.
- It’s not just YouTube where videos are being accessed. They are available on social media too. Snapchat regularly gets around 10 billion daily video views. We’re also more likely to share that kind of content – according to Twitter video is six times more likely to be retweeted than simple images with text.
- Live video is starting to become important too. According to Facebook, viewers are likely to watch it three times longer than other, pre-recorded video.
- Half of internet users will also look online to find a video relating to a product they are thinking of buying and that has a high likelihood of influencing the decision to purchase or not.
So, what does this all mean from the customer point of view? The statistics highlight that video has already become a highly popular and efficient way to consume information as well as entertainment. Many will choose it over written information and it can improve engagement in other ways, for instance, creating more shares on social media. We also increasingly like to view videos on our mobile while watching the TV.
HOW ARE BUSINESSES USING VIDEO?
- 77% of marketing professionals dealing with B2B sales think that video is the most effective tactic for creating leads and conversions.
- Over 80% of companies that used video content marketing in their campaigns stated that they were happy with the return on investment and most would use it as part of their strategy going forward.
- 85% of all videos on Facebook are actually watched without the sound on. That’s mainly because news feeds mute the sound and you have to click a video to hear what’s being said. It’s led many businesses to add subtitles to their video content to broaden their reach.
- With so much evidence highlighting the effectiveness of video, it’s surprising to learn that less than half of businesses actually use video as a formal strategy.
- Companies that use video in their email marketing report they get a better click through rates, improved times spent on viewing the content and increased share rates as well as conversions.
The good news is that making videos has come down in price over the last few years. Driven by better technology and on-demand services, there is no real reason why a smaller company shouldn’t be able to invest in this kind of marketing strategy in the future.
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