Three quarters (74 per cent) of consumers say there is a connection between watching a video on social media and their purchasing decisions, according to new research commissioned by online video solutions provider, Brightcove Inc.
The global survey – conducted with 5,500 consumers in the UK, France, Germany, US and Australia– reveals that nearly half (46 per cent) of viewers have actually made a purchase as a result of watching a branded video on social media and another third (32 per cent) have considered doing so.
The majority (81 per cent) of consumers currently interact with their favourite brands on social media – two fifths (43 per cent) have done so through watching branded videos.
Eight in ten (79 per cent) agree that video is the easiest way to get to know a brand online.
When asked for their number one choice of branded content on social networks, video was the most popular answer (31 per cent) and two thirds (67 per cent) of respondents watch more video on social networks, like Facebook, Twitter and Snapchat, than they did a year ago.
The average consumer now watches just under an hour (49 minutes) of social video every day, with 60 per cent of viewers expecting the amount of social video they watch to continue rising over the next year.
David Mendels, CEO of Brightcove, thinks that, in recent years, a clear trend favouring video content on social media has emerged – especially as social giants like Facebook have moved to ensure video is prominent within the consumer news feed.
He adds, ‘We’re at a point now where the billions of daily views and millions of viewing hours represent a significant opportunity for brands striving to engage with their audiences online when making purchasing decisions. But it’s not without its challenges.
‘When it comes to successful online video there’s certainly no such thing as ‘one size fits all’. With so many social networks to be visible on, and each one having its own technology and culture, delivering the relevant, timely and tailored viewing experiences that consumers demand can be a complex task.’
Mendels concludes, ‘Brands need to be able to quickly and easily serve, manage, measure and adapt their video content across the ever-evolving landscape of social networks – not to mention their owned and operated properties. ‘
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