Consumers don’t want to read; they want to sit back and watch video. And according to research by Animoto, companies utilizing product videos effectively are experiencing dramatically higher sales and are growing a more loyal customer base.
Here are a few paraphrased stats from the full survey results with my opinions sprinkled in as to what it means:
4 times as many consumers would rather watch a video about a product than read about it.
This is really human instinct though, isn’t it? Our brains have evolved to love when more than one of our senses are activated. So it’s only natural that the effect video with its visual and auditory stimulation is going to be more interesting than just reading plain old text. When you can wrap a great story around a product and show how it helps solve the consumer’s problems, video starts engaging that viewer in a way that a bullet list of features never could.
25% consumers actually lose interest in a company if it doesn’t have video.
Part of this goes back to the prior stat about video versus text. But another huge factor is mobile. Video is made for mobile and it is so much easier for someone browsing the web to tap once to watch a video than to scroll through a bunch of text to get the information they need. With mobile video provides the micro-moments or snackable video content that a consumer needs while researching solutions to problems and making buying choices on products. In fact, 52% of mobile viewers that have watched product videos are more confident in making purchase decisions online.
Customers are 50% more likely to read email newsletters that include links to video.
Reaching out to your existing customers is among the best ways to launch a new video because you’re reaching out to people who are already engaged and interested in what you do. Once they’ve opened that email, another way to augment click-throughs is to include a screen grab of your video in a video player so it looks like it will play right in the email. Studies show using this technique increases clicks by more than 5 times that of a simple text link. Once again video trumps text.
83% of consumers say a video showing how a product or service works is important.
According to a recent study by Google, “how to” searches on YouTube are up 70% year over year with more than 100 million hours of how-to content watched so far this year. So creating this type of content represents a huge opportunity for any brand. Not only to produce product specific videos, but also to create “how to” style videos around their products to answer and solve problems their consumers are looking for answers to.
2/3 of consumers prefer video under 60 seconds
Shorter is better and the consumer’s point in this survey confirms that once you go beyond 60 seconds your audience starts dropping off precipitously. So you need to keep you messaging concise. Break it up. Create snackable content your viewer will look for next or alternate versions of the information they may not have considered. This helps the consumer make more informed and moves them closer to making a purchasing decision.
One of the frequently cited drawbacks of creating product videos is its difficulty. Luckily there are video marketing professionals that can help brands create compelling stories around their products or services. Yes that’s a shameless plug. But we are pretty cool. Regardless of constraints, consumers are clearly voicing their opinion and desire for more product videos. Now it’s up to brands to respond to consumer need and create the video content required to drive sales.