Consumers want video to help make purchase decisions, and 59% of consumers specifically say they’re “likely to watch video when visiting a brand web site,” according to a study of more than 1.000 consumers and more than 500 marketers from Levels Beyond, a video software company and content inventory platform.
Despite this stated interest, about 75% of marketers said that creating brand video is not a marketing priority, and 40% said they “rarely” use video in their marketing efforts.
Perhaps more education on the value of video can help sway brands to invest the time and money since brand video can be influential in driving sales. Video commerce company Invodo has found that online shoppers who viewed videos were nearly two times more likely to buy than those who didn’t view messages. In addition, Levels Beyond found that 40% of consumers say they would rather watch a video than read text from the brand that includes the same information, with half of Millenials wanting video over text.
When brands do serve up videos, they are most effective when paired with social media. Word of mouth from trusted friends is key, with 61% of consumers saying they’re more apt to watch branded videos if friends share them. Also, 38% of consumers said they think a brand video is worth watching if it’s trending socially. Levels Beyond points out that social shares then may be a better metric for success than views, because social shares indicate an authentic level of interest in the video. However, most brands still measure success of a video based on views.
When it comes to the content of a video, about 67% of consumers are interested in how-to, tutorial and instruction videos from brands.