Brands that want to boost their customer engagement levels might want to think about incorporating video into their respective marketing strategies.
According to a new survey from Animoto, a leading online video creation application that empowers anyone to create and share extraordinary videos, four times as many consumers would rather watch videos about products than read about them.
The Animoto Online and Social Video Marketing Study surveyed 1,051 U.S. consumers.
According to eMarketer, video advertising is expected to reach $7.8 billion this year.
While only 14 percent of consumers remember the last display ad they’ve seen, 80 percent can recall the video ads they’ve watched online in the last week.
“The growth of online video marketing in recent years has been tremendous,” said Brad Jefferson, CEO of Animoto. “Today, there are more than 7 billion videos watched every day on Facebook and YouTube. Historically, in order to create and distribute high-quality video to your customers, it was cost-prohibitive for all but the largest brands. However, today's tools and platforms ensure that small and medium businesses can reach their audiences where they hang out online. This represents one of the biggest marketing opportunities for small businesses in a long time.”
Video is one of the most universally preferred ways of consuming content with nine out of 10 consumers watching at least one online video per week, the survey notes. The data also shows that businesses with video marketing strategies have an elevated brand perception as a result:
63 percent of consumers say companies that use video know how to reach their customers
One quarter of consumers lose interest in a company if it doesn’t use video
56 percent of consumers believe that if a company has a website, it should have video
Marketers who leverage video in their email marketing and social media campaigns increase the chances of connecting with consumers:
84 percent of all consumers said that they have liked a company video that has appeared in their newsfeed
43 percent of consumers are more likely to read email newsletters that include links to video
56 percent of consumers have watched a company video that came through email
Nearly half of all consumers have shared a company video on their own social media profile
Consumers want videos that tell the story behind the company and the products they’re buying, the survey says. A majority of consumers also find it helpful to watch a product video more than once before making a purchase. When asked about video length, nearly two-thirds said company videos should be 60 seconds or less. Consumers also described the kinds of videos they’d like to see:
80 percent of consumers say a video showing how a product or service works is important when learning about the company
56 percent of consumers say customer testimonials are helpful when purchasing a product/service
About half of customers say that ‘about the company’ videos are the most helpful when purchasing a product/service