Video is having an impact on consumers, with three-quarters of global adult shoppers saying they have made a purchase after viewing a video for a product, a percentage that is even higher among Millennials. But what qualities make videos valuable to consumers during their decision-making process? Here is what research [download page] from the CMO Council reveals.
Perhaps seeing how a lot more of their customer journey is being personalized, consumers appear to expect videos to follow suit. Of the 2,000 English-speaking consumers surveyed, nearly half (48%) say they want videos that reflect the products and services they already own or are interested in. Another 43% say that online videos would be more valuable if they were interactive and allowed the consumer to decide what information they wanted to view as well as when they wanted to view it, while one-third (33%) say that including recommendations for what they could or should do next would be helpful.
Interestingly, despite research suggesting that consumers are uncomfortable with too much targeting and use of their data to sell more products, some respondents say that taking their location into account (22%) and using their name and information about them the video (12%) are qualities that would make an online video valuable to their decision-making process. Another study by Salsify shows that online shoppers feel like a brand understands them if product images and videos reflect their lifestyle.
In spite of all this, video does not fare well as a communication channel when compared directly to other options. When asked which communication channels helped influence them the most when making a decision to purchase, only 9% chose video. Ultimately, websites (54%) are the most important communication channel for consumers during their decision-making processes. Not only that, but websites are also where the majority (60%) of consumers go when they want to learn or discover new things.
Video’s low score on the communication front likely relates to it not being used primarily for such purposes in respondents’ minds, as its informational value seems clear.
You can find the full report here.
About the Data: Findings are based on a survey of more than 2,000 global adult consumers from English-speaking countries (81% being from the US).