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BizReport : Social Marketing : November 17, 2016

Social video influencing consumers' purchasing decisions

A global survey confirms there exists a connection between watching video content on social media and consumers' purchasing decision-making processes, according to new research from Brightcove.

by Helen Leggatt

Online video solutions provider, Brightcove, surveyed 5,500 consumers across the UK, US, France, Germany and Australia and discovered that watching a video on social media influences 74% in their purchase decisions. Facebook now receives 8 billion video views per day, while Snapchat goes 2 billion better with 10 billion.

impact.pngThe report, 'The Science of Social Video: Turning Views into Value', found that nearly half (46%) of social media video viewers had made a purchase directly as a result of watching a branded video and 32% had considered making a purchase.

"In recent years a clear trend favoring video content on social media has emerged - especially as social giants like Facebook have moved to ensure video is prominent within the consumer news feed," says David Mendels, CEO of Brightcove. "We're at a point now where the billions of daily views and millions of viewing hours represent a significant opportunity for brands striving to engage with their audiences online."

Overall, 81% of consumers today interact with brands via social media and 43% said they have done so through watching branded video. In fact, more than three-quarters (79%) say it is the easiest way to get to know a brand online and for 31% it is their favorite type of branded content. The average consumer now watches just under an hour of social video every day and 60% expect the amount they watch to increase over the coming year.

However, while social video is indeed an excellent opportunity for brands to engage with social media users, Mendels warns that it is not without its challenges.

"When it comes to successful online video there's certainly no such thing as 'one size fits all'," he says. "With so many social networks to be visible on, and each one having its own technology and culture, delivering the relevant, timely and tailored viewing experiences that consumers demand can be a complex task. Brands need to be able to quickly and easily serve, manage, measure and adapt their video content across the ever-evolving landscape of social networks - not to mention their owned and operated properties. "

Tags: brand marketing, online video, social media

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