Animoto, an online video creation application, reported new survey results that detail the continuing evolution and growth of video marketing.
The "Animoto Online and Social Video Marketing Study" surveyed 1,051 U.S. consumers and revealed that four times as many consumers would rather watch a video about a product than read about it.
According to eMarketer, video advertising is expected to hit $7.8 billion this year. Whereas 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. (Source: Digital Content Next) The new Animoto data released today supports the growing trend of video marketing, revealing that consumers prefer to interact with businesses through video and that video marketing plays an essential role in acquiring new customers as well as engaging with current ones.
"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 Marketing Resonates With Consumers
Video is one of the most universally preferred ways of consuming content with nine out of ten consumers watching at least one online video per week. 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
Video Boosts Email Marketing and Social Media Engagement
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
Video Is Essential In The Purchasing Process
Consumers are demanding videos that tell the story behind the company and the products they're buying. 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 believe company videos should be sixty 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 says 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
Animoto also published an infographic detailing these findings, available here.
Source: Animoto
