Popping up everywhere in product advertising, content marketing and online web stores is video. Companies like Buzzfeed and Dove were among the first to witness the effects of viral marketing through short popular three minute movie clips but it’s no longer businesses with large budgets that are taking advantage of a growing audience preference for moving visuals.
Tools like Facebook ad format Collection and Facebook Live focus on video content to boost retail sales given that video posts have a 135% greater organic reach than photo posts. An Adidas’ campaign promoting various apparel items resulted in a 1.8X decrease in cost-per-conversion, according to the brand.
Based on majority of statistics floating around the web, data points to a healthy customer engagement with “video storytelling”.
According to Cisco, video is projected to claim more than 80% of all web traffic by 2019 and Forrester estimates that a video included in an email campaign will garner a 200-300% increase in click through rate.
Versus a still image, video content is more emotionally compelling and reinforces the messaging behind a brand and its product.
Watching a video is simple enough, but do they directly impact consumer behavior?
A recent whitepaper by Nielsen, “Cross Platform Report 2017”, conducted a survey to find out how Indonesians react after interacting with online video ads.
Respondents between the ages 21 – 49 were most likely to connect with a brand – call, go to store, purchase online – after watching an online video advertisement. Those over 50 years old were less likely to be affected by video content.
But all that’s video is not gold
The message isn’t that every brand manager should grab a camcorder and throw their marketing budget into producing a product video.
Findings from market research firm in the US L2 Inc shares a cautious message,
“Brands invest heavily in video on a variety of platforms, including TV, YouTube, and social media. However, videos on the homepage can have a negative effect on site engagement metrics.
L2 found that the 56% of brands with video on the homepage actually saw shorter site visit times, fewer average pages per visit, and higher bounce rates than brands without video on their homepage.”
It may be too soon to judge whether video is the best method to achieve higher direct retail sales but companies such as ViSenze are creating technology that enables contextual advertising within a video.
On the other hand, video has been and remains one of the most effective ways to improve brand awareness and educate consumers. Just think of the heart-tugging Amazon Mother’s Day videos.