We know a lot about today’s video marketing scene, in regard to performance. We know what types of video advertisements get the most views, we know all about engagement rates that different video marketing platforms bring in, and we know how to place these ads effectively. However, how much is really known about how consumers actually react to these videos. Surely, this is something that can never be known entirely, but it is something that should be looked into. A new report called ‘How Consumers Shop with Video,’ from Invodo, which serves marketers in video distribution, and E-tailing, an ecommerce consultancy group, shows the results of a survey of just over 1,000 consumers at the end of last year. Essentially, this study tells us how video effects purchase decisions and how influential it really is.
Before we look at the effect, we need to see the reach. Although 1,000 people is not much, it still can stand to represent the average. With that said, of those surveyed only 13 percent said that they rarely watch videos posted by brands and businesses. What’s more important is the 35 percent of people who said they watch these videos at least most of the time. In the same study from 2011, only 27 percent said that they watched branded videos at least most of the time, representing an 8 percent increase year over year.
So, it seems that a good amount of people gain from branded videos, but now to look at how and where this gain happens. Again, mobile takes the cake, with 69 percent of respondents saying that viewing videos on their phones is a great way to get a quick overview of a product prior to a purchase. In fact, 57 percent even said that they check videos on their smartphones while in store, prior to actually purchasing an item. On a related note, it seems that QR codes are making a comeback, with 55 percent of respondents saying that they still scan codes to get more information on brands or products.
Now, arguably the most important aspect of the study tells us how many times a person views a brand’s video before making final purchase decisions. Here is the breakdown;
- One view: 26 percent
- Two views: 37 percent
- Three views: 22 percent
- Four views: 5 percent
- Five or more views: 5 percent
- Never: 5 percent
A whopping 37 percent of respondents rely on videos enough to view them at least two times before making their final decisions. Another 22 percent rely on videos even more heavily, with three views. Only 5 percent of people do not need videos at all before making their decisions.
Although video ads can give marketers a great way to pull consumers’ attention, retail videos that demonstrate products or give overviews are important as well, according to the study. Consumers need these videos to make the decision whether or not to buy, and if they have as much influence as has been noted above, then they are an important part of leading to a sale. In gaining conversions, it seems that these types of videos act as a sort of middle man, and quite an important one.