Most Brand Websites Feature Online Video
Findings from “Online Video & The Media Industry” indicate that nearly 85% of brand managers surveyed currently use online video on brand websites for marketing products and services. And for those not using video, 75% plan to add online video to their websites in the next 12 months.
6 in 10 Brand Managers Will Up Online Video Spending
In addition, while brands currently devote a relatively small portion of their overall marketing budgets to onsite video initiatives (50% devote less than 10%, 23% devote less than 25%, and 22% devote between 25% and 50%), nearly 60% of respondents say they plan to spend more on their website video initiatives within the next 12 months. Only a fractional amount plan to spend less.
Online Video Promotes Awareness
Two-thirds (66%) of brand managers surveyed said branding/awareness is the primary purpose of their online video initiatives. Another 21% use online video for direct response and lead generation, while 12% use it to drive e-commerce and sales initiatives.
Online Video Aids E-commerce
Many of those using online video to drive e-commerce and sales initiatives find it highly effective at increasing customer engagement and time spent on the brand website (53%), as well as sales conversions (35%). Twelve percent say online video in e-commerce helps reduce product returns, customer service calls and shopping cart abandonment.
Marketers Educate via Online Video
Video is well-used by marketers, mostly for educational purposes, according to a new study from King Fish Media, Hubspot and Junta 42. Data from “Social Media Usage, Attitudes and Measurability” indicates that 61% of marketers use video content on their own websites, while another 56% use video content on third-party video-sharing sites. This indicates that a majority of marketers are willing to sacrifice some measure of control over their video content distribution and management in order to reach as wide an audience as possible.
Marketers also show limited openness to different video platforms. Thirteen percent use video content in emails, and 7% use video content on mobile devices. While the future of email is somewhat unclear, it seems fairly likely the percentage of marketers distributing video content via mobile device should substantially grow in the next several years.
About the Data: The data used for the analysis included in this report was taken from a cross-section sample of Brightcove customers representing media industry verticals. While the sample aggregates a sizable data set, it is not intended to be statistically representative of the online video industry as a whole, or of Brightcove’s entire customer base.