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BizReport : Blogs & Content archives : November 06, 2018

Study finds video influencing more purchases

Now is the time to shine up that video strategy. According to new Brightcove data video is influencing more and more purchases, especially among Millennials and younger buyers. In fact, about 85% of Millennials surveyed for Brightcove's 2018 Video Marketing Survey say they've been influenced to purchase something because of digital video.

by Kristina Knight

But, it isn't only that purchase that is important. The data further shows that 21% of all shoppers surveyed and nearly 30% of Millennials are more likely to remember video ads than other ad formats. Comparatively, only about 13% remember display ads and only 9% remember email ads.

"Video today has a significant impact on consumers' choices and buying decisions, so it's essential for marketers to understand the most valuable ways to use it," said Sara Larsen, Chief Marketing Officer, Brightcove. "As the leader in video technology, our main priority is to help our customers be successful with video, and that means maintaining a strong understanding of the entire video landscape and what drives purchase intent. To do this, we are constantly learning how different demographics consume video, the various use cases being practiced across industries, and how the industry as a whole is evolving so we can ensure our customers create videos that better resonate with their audience."

Other interesting findings from the 2018 Video Marketing Survey include:

▪ 59% of all shoppers and 62% of Millennials believe "it is important" for brands to utilize video
▪ 45% of all shoppers and 56% of Millennials say video "is more engaging" that other ad formats
▪ 36% of all and 46% of Millennials say video is their preferred bran communication

And here is one more important takeaway: not only do consumers find video more memorable, most (53% of all shoppers, 66% of Millennials) say video is more engaging and are visiting branded websites or doing more product research after seeing a video on social media.

More Brightcove data can be accessed here.

Tags: advertising, Brightcove, mobile marketing, video ad tips, video ad trends, video advertising, video strategy

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