Brightcove Inc., a provider of cloud services for video, announced the findings from its recent 2018 Video Marketing Survey, analyzing the impact that video content has on consumers’ buying decisions. Among the respondents, 76% of consumers report they’ve purchased a product or service after viewing a video, with the most being the Millennial demographic comprised of 18-34 year olds (85%). The report illustrates how consumers overall (59%), and Millennials in particular (62%), find it important for products and services to share their information through video, underscoring the importance for marketers to understand how consumers are motivated by video content and how they can utilize it to drive sales and brand engagement.
When analyzing consumer preferences in relation to marketing-specific content, there were three key takeaways that highlight video as one of the most powerful forms of content:
Video is the most memorable form of content: 21% of consumers overall and 29% of Millennials find video more memorable than other forms of content. Video was ranked significantly higher than other forms of content such as display ads (13%), email marketing (9%), case studies (4%), text ads (2%), among others, which all ranked lower than 4% of overall consumers.
Video engages consumers more than any other form of content: 45% of consumers overall and 56% of Millennials feel that video is more engaging than other forms of content.
Video is preferred for brand and marketing communication: 36% of consumers overall and 46% of Millennials prefer video content to other forms of brand and marketing communication.
In addition to seeing an increase in brand engagement after viewing a video on social media, the study supports the need for more interactive content, a rising trend that immediately connects a consumer to a brand. Key findings to support this include:
53% of consumers overall and 66% of Millennials report engaging with a brand after viewing a video on social media. The most common follow up actions reported were visiting the brand’s website (20%) and conducting further research (20%).
45% of consumers overall and 57% of Millennials find it helpful when videos have a distinct call to action, offering them the ability to engage directly with the brand. More specifically, 35% of consumers overall and 41% of Millennials expressed interest for links at the end of videos that lead them to more information about the brand and its offerings.
23% of consumers overall and 30% of Millennials want access to links that allow them to directly purchase a product, proving an increase in demand for shoppable content.
Consumers feel it’s important to see a video when shopping for a specific product online; personal electronics (56%), household appliances (52%), tools (48%), software (47%), clothing and makeup (35%), and personal care (27%).