The “Online and Social Video Marketing Study” conducted by Animoto has revealed that four times as many online consumers would rather watch a video about a product than read about it. Additionally, 80 percent of them consider product videos to be important in the purchasing process.
About one-fourth of people say that they lose interest in a company that does not use video for content marketing. Approximately 56 percent say they believe that if a company has a website, it should also have video, highlighting the need for marketers to focus on this channel.
“Today’s tools and platforms ensure that small and medium businesses can reach their audiences where they hang out online,” said Brad Jefferson, CEO of Animoto. “This represents one of the biggest marketing opportunities for small businesses in a long time.”
The Growing Investment in Video
As the demand for video grows, statistics show the importance of this medium in the marketing process.
The “B2B Path to Purchase” study released by Google and Millward Brown Digital found that 70 percent of buyers and researchers watch videos prior to making a purchase. Specifically, B2B buyers appeared to be interested in watching videos featuring lists, how-tos and professional reviews.
In general, consumers are relying more on marketing content to make an informed purchase. The “2015 Content Preferences Survey” conducted by DemandGen found that 67 percent of people rely more on interactive content before buying a product than they did one year ago. Marketing content aids consumers in the research process prior to a purchase.