Tubular Insights shows some interesting statistics regarding video as an online medium and some of the major players who are contributing to the video craze. There are also a number of other video statistics regarding how video affects your conversions in this post so read on.
How Video Affects Shopping
One interesting statistic regarding video and shopping online illustrates that 4 out of 5 shoppers say that a video showing how a product works is important to their buying decision. (Animoto, 2015)
Animoto is an online video editing and distribution platform that lets individual users create video from a variety of sources and video clips that they may have in their collection. The fact that their study showed how consumers want to see a video explaining a product is significant for marketers and business owners. It demonstrates the importance of creating explainer videos if you are selling products.
Animoto also reported that 7 out of 10 Millennials are likely to watch a company video as well when shopping online. This means that the average younger shopper (age 20-35) may stay to see information about your company rather than just watch the video on a product that they are considering.
This is powerful information when you think about what you could do and the impact you could have by having both an explainer video and a corporate video on your site.
Remember that your goal should be more than just winning a customer one time. You should try to win loyal customers who will be brand evangelists for your brand and who will want to stay loyal to your brand from then on.
When you can achieve that, you have made significant strides toward success for your business.
Tech Crunch reported last year (2016) that there are 100 million hours of video per day that are watched by Facebook users. When you couple that with the fact that there are over 1.86 billion Facebook users per month, you are looking at some large data that can have a significant impact on your marketing strategies.
Regarding mobile use, it is important to note that mobile users have increased significantly and mobile views of online view grew six times faster than desktop views in 2015, and this trend is expected to increase. (Invodo, 2016)
AOL Platforms recently reported that their research indicated a trend toward digital ad sales and less budget being spent on traditional network television. In fact, 50% (that’s exactly half) of all advertisers planned to shift their advertising goals and budget to digital media (online) rather than pour more money into TV advertising. (AOL Platforms>
This shows a healthy relationship between online video and a realization for advertisers, business owners, and marketers that people are on mobile devices and desktops computers far more than they are watching TV in our modern world. So they are simply conforming to what their customers are doing and meeting them where they are.
Videos and CTRs
Videos had an average click-through-rate of 1.84%, the highest CTR of any other form of media. (Business Insider)
This indicates that video is not only effective because people enjoy watching, but it inspires them to take action after seeing a video, which increases your chances of a conversion and sale.
This is compelling information that you need to keep in mind if you are involved in video marketing on any level or if you are trying to promote your business.
What Makes Video So Popular?
So what is it that makes the video so popular among users when they are shopping? It seems that no matter what format they are using, users prefer online video to traditional video and they prefer video to any other format when they are shopping online for a product or service.
In addition to the video behaviors and cravings for a video that we see from these statistics, we also see a tendency among users to search for video at other times as well. It’s not just for shopping. The fact that people love to find “how to” videos (as indicated by a study by “Think with Google” in 2015, searches for “how-to” and instructional explainer videos was up by 70%!
So how can we use this information to our advantage as business owners and marketing managers?
One way is to create explainer videos for your target audience.
An explainer video is an excellent way to truly connect with your target audience and to provide them with free information that they will appreciate. Remember, when you give your customers something free, you may not make a sale that day. But you are likely to make a sale sometime in the future.
This is how you can build relationships with your target audience and prospects without expecting anything in return. Consumers look for information on specific things that your brand may be able to offer them. If you can provide this information to them, they are going to be more likely to come back and to be loyal to your brand shortly.
Remember that much of business success and marketing success is in building relationships that you nourish over time. People do business with you because you provide them with some value (either real or perceived). So it is the wise business manager or content marketer who knows how to leverage this power and turn it into conversions and business relationships.
So where do you start when you are trying to use these video statistics in your favor? Start with a great explainer video.
Explainer videos are one of the most popular types of media online today, and it’s what many of your customers and potential customers will be looking for when they get online.
Explainer videos are generally entertaining, funny, and fun to watch as illustrated in this example.
Explainer videos have the advantage of explaining information about your company, a process, or a concept that can be condensed into 2-3 minutes. This avoids people having to read through all of your website content and opens the door to catching those customers that you might otherwise lose if you do not have a video.
Corporate videos are similar, but they are more focused more on the inside information regarding your business rather than how to do something.
Your target audience for both explainers and corporate videos are either customers or B2B clients or partners, and you should keep your audience in mind at all times and think about their unique needs and preferences.
Why Animated Video?
You will notice when you look at some of the video content online that many of them use animation to create their video. This is because people prefer animation to other forms of video such as “live action” or “talking head” videos.
If you need to know where to start in producing any video or if you need a customized business explainer or corporate video done, see us at animatedvideo.com. We are in the business of creating a customized video that your customers will appreciate that will increase your power with your target audience.
So read back through these stats and look at some of the examples on our site of what we can do and let us know how we can help.
We love creating customized video for businesses so that you can get your message to your audience in a way that they will appreciate.
After all, they are already looking for great video. Why not provide them with it?
See us at animatedvideo.com.