YNOT – Even in categories where video is not the primary product, online video can make consumers 174 percent more likely to purchase, according to research published by video solutions provider Invodo.
“Video generates purchases by bringing shoppers closer to the product,” the authors of the whitepaper “Video Statistics: The Marketer’s Summary” wrote. “It provides a rich sensory experience (color, motion and sound) along with relevant context (scale and demonstration). “Because of this, customers are more confident to purchase.”
According to the researchers, 67 percent of consumers engaged with online videos “regularly” at the end of 2012, up from 50 percent one year earlier. In addition, 45 percent of consumers said they had watched at least five product videos during the previous three months — a significant increase over the 36 percent of consumers who participated in a similar study 12 months earlier.
Even when not seeking a specific product, 52 percent of consumers feel more confident about products they see demonstrated or explained in videos, the researchers discovered. Among those who are actively engaged in a purchase decision among competing products, video can make the difference in the sale. The length of the video, they noted, is less significant for engagement than whether the video delivers key product information.
“More than three out of five consumers will spend at least two minutes watching a video that educates them about a product they plan to purchase, and 37 percent will watch for more than three minutes,” the whitepaper noted.
The whitepaper authors were careful to stress that to be most beneficial, video must be available across all channels and platforms. Brands need to stop thinking of consumers as segmented into “online” and “offline” contingents and instead treat every consumer as a composite shopper on a continuum. Although shoppers equipped with smartphones or tablets are three times as likely to watch product videos as laptop and desktop users, any given shopper may research a product on a desktop computer at home before heading to a store to compare several items in person. While in the store, the shopper may connect to an online resource via smartphone or tablet in order to double-check facts or gain additional information. In fact, according to the study, 57 percent of consumers admit to watching video on their mobile device while comparing products in brick-and-mortar stores.
“Users aren’t concerned with form factors, devices or operating systems; they simply want product video available on-demand on computers, tablets, smartphones and internet-connected televisions,” the report noted. “As new platforms and tools emerge, retailers must make content available across channels in order to maintain needed consistency for the omnichannel consumer.”
