Which Medium is Driving 85% of Millennials to Make Purchases?
Did you know that 76% of adults over the age of 18 have made a purchase because of a video they watched? Brightcove’s 2018 Video Marketing Survey found that video is effective for three reasons. Out of all forms of content media, video is:
- the most engaging (45% of adults agree)
- the preferred communication medium for brands (36%)
- most memorable (21%)
Posting a video on social media is exceedingly helpful for a brand’s image. Even if a consumer has never heard of a brand, 53% of video viewers will engage with a brand after watching a video in which it is featured. Think of the impact video advertising could have on your clients’ bottom line!
Want to know an even better quality of video marketing? Millennials love it even more than other adults. These 18- to 34-year-olds are only increasing their spending power each year. And what’s influencing them to spend that money? Well, 85% have been swayed to make purchases after viewing a video. Thirty percent would also love to watch shoppable videos.
According to data from AudienceSCAN from AdMall by SalesFuel, millennials make up 36.8% of Online Video Watchers and 37.4% of Mobile Video Watchers. Within the past six months, 62.6% have used mobile devices to watch online or streamed videos and 25.7% have watched a video about a product they were considering for purchase. They’re also 51% more likely than other adults to take action after seeing pre-roll video ads. For more information on millennials’ advertising and purchase intent information, check out their full profile in AudienceSCAN.
A number of business types can benefit from video marketing. According to AudienceSCAN, consumers go looking for videos when shopping for product such as personal electronics (56%), home appliances (52%) and tools (48%).
Video provides shoppers with easily consumable information about products or services they’re considering buying. Are your clients giving them what they need to gain confidence in future purchases?