An interesting study released today by Yahoo! Inc., Interpret LLC, Havas Digital, Warner Bros. Media Research, and PHD explores how consumers interact with online video, and how marketers can use this information to drive greater engagement with their target audiences online.
The new engagement model identifies three key measurement variables, including completion of the video (a strong indicator of engagement), attention to content (a strong indicator of passion and the potential opportunity to make an ad impression), and actions taken (before, during, or after watching the streaming video).
It should come as no surprise that high engagement videos are what drive consumer behavior. High engagement levels translate into high satisfaction for viewers, high brand recall for advertisers, a greater inclination for consumers to seek product information, and potentially more money for publishers. According to the study:
- 27 percent of respondents who remembered seeing an ad searched for more information about the product featured after watching high engagement videos, versus only 13 percent for low engagement videos.
28 percent visited the website of an advertised brand or product after viewing a high engagement video, versus only 10 percent for low engagement videos.
High engagement videos account for nearly half (47 percent) of ad recall.
“This propensity for sharing and ad recall translates into improved viral ‘buzz’ for advertisers and their ads – if they take advantage of online video opportunities properly,” said Liz Huszarik, senior vice president, Warner Bros. Media Research.
Perhaps most interesting was that the study showed spikes in online video consumption among men, women, students and full-time employees during the hours of 12 p.m.- 3 p.m., and then again between 9 p.m.- 1 a.m. Regardless of time of day, one-third of people who watch a video share it with friends, family members and colleagues.