Here’s an eye-opening data point: according to new research from Brightcove, 46% of respondents said they made a purchase as a result of watching a branded video on social media (with 53% of U.S. respondents doing so). And another 32% of respondents said they considered doing so. The data shows the increasing importance of social media as an influential platform for marketers and the power of branded videos - as opposed to conventional 15 or 30-second ads - as a key purchase motivator.
With marketers increasingly concerned about ROI on their spending and consequently shifting dollars into digital media, the research only magnifies the challenge TV networks face in retaining advertisers’ allegiance.
Ironically, as ad-avoidance in general and ad-blocking in particular have gone mainstream, the Brightcove research also showed the strong affinity respondents have toward brands on social media. 81% of respondents said they currently interact with brands on social media, with 43% doing so by watching branded video. 79% said video is the easiest way to get to know a brand online. And 45% said they’re more likely to tell friends and family abut a brand after watching a good branded video on social media, with 76% more likely to watch it if recommended by friends or family.
Importantly, these trends have increased recently and look poised to continue going forward. 67% of respondents said they watch more video on social media than they did a year ago (now up to 49 minutes on average per day, with the U.S. highest at 60 minutes per day). And 60% said they expect to watch more video on social over the next year.
YouTube appears to be the big winner in branded video so far, with 50% of social video views, followed by Facebook with 36% and others including Snapchat, Twitter and Instagram accounting for 14%.
The Brightcove research was conducted among 5,500 consumers in the UK, France, Germany, U.S. and Australia. Related, Brightcove also announced “Brightcove Social” today, a unified solution for organizations to manage their videos across social networks within one interface.
The full Brightcove research findings are available as a complimentary download.