There is an increasing amount of evidence that consumers expect and look to videos as a source of fulfilling informational needs as they are considering their purchases. Are brands meeting the consumer demands for the medium?
A Levels Beyond report highlights a significant gap between consumer desire and willingness to consume brand video content, and the ability for a large proportion of brands to meet that need.
The report, which surveyed more than 1,000 people in the United States and more than 500 brand marketers, discovered that while 59 percent of consumers would watch video content on a brand’s website, 75 percent of brands rarely or never produce videos for social media followers.
Video leads to high engagement with audiences. Many studies have shown how it ultimately leads to greater brand loyalty.
Today’s consumers think of brands more as media companies and want highly engaging, informative, and entertaining video content from the companies where they plan to spend their discretionary income. Videos can change opinions and can drive purchasing decisions.
The research follows an undeniable shift in the way people consume media today. Smartphones, tablets, and social media now are a key part of consumer content consumption.
The study focused on three areas:
- The changing way consumers are interacting with video.
- The evolving role of brand video.
- The role of video in driving brand loyalty.
You can download the entire report on the Levels Beyond website, but in the meantime, here are three key takeaways from the report.
1. Consumers Look for Videos to Fulfill Informational Needs
When visiting brand websites, consumers are increasingly looking for video content, with 59 percent saying they’re likely to watch videos when they visit a website that has video content, and 40 percent saying that they would rather watch a video than read information from a brand containing the same information.
By far the most sought after kind of videos are how-to, instruction, or tutorial videos, with 67 percent of consumers saying that they would want to watch such videos.
2. Shares and Recommendations are More Important Than Views
The majority, 73 percent to be exact, of brand marketers reported that they measure the success of a video based on the number of views it receives, but evidence suggests they may be missing the connection between views and deeper, more effective engagement.
When asked what draws them to watch a video, consumers continually pointed to the fact that they’re influenced by personal and social networks.
3. Brands are Failing to Reach Consumers Via Video
A massive 75 percent of marketers say they rarely or never produce videos for their social media followers. Social channels hold one of the biggest opportunities for brands to distribute videos and reach a larger audience through trending and social sharing. Consumers want more than just text updates – video offers brands an easy opportunity to engage more effectively with consumers across social channels.
Video is emerging as the medium of choice for a new generation of consumers who are engaged and active on social media. While marketers do recognize this changing landscape and its impact, they haven’t entirely evolved their marketing strategies to capitalize on the opportunity.
By making supplemental video a higher priority, brands can increase the chances to reach and influence a larger audience in a highly engaged environment. The power of social sharing and its impact on consumer behavior means that brands that focus on social channels will see a greater return on the time, effort, and budget invested in social video.
This article first appeared on the Linkdex blog.
Is your brand using video to reach and engage consumers? Let us know your insights on marketing to consumers via video in the comments below.