The Impact of Social Video Viewing on Purchasing Decisions
There appears to be a connection between watching a video on a social media site and the purchase decision making process for consuemrs according to research from BrightCove.
Brightcove’s ‘The Science of Social Video: Turning Views into Value’ report revealed that nearly half (46%) of viewers have actually made a purchase as a result of watching a branded video on social media and another third (32%) have considered doing so. That might be surprising to many but it gets even better for those that currently leverage social video:
+ 81% of consumers currently interact with brands on social media and two fifths (43%) have done so through watching branded video
+ Eight in ten (79%) agreed 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%)
The findings also highlighted the extent to which social video consumption has risen in recent months, resulting in a growing window of opportunity for brands to get in front of their audiences on social media. The results showed that:
+ Two thirds (67%) 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
+ 60% of viewers expect the amount of social video they watch to continue rising over the next year
“In recent years a clear trend favoring 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," said David Mendels, CEO of Brightcove.
"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. But it’s not without its challenges.