New research from marketing video firm Animoto investigates how video is changing the landscape of social media, influencing consumer purchase decisions, and revamping marketers’ approach to social media marketing.
Based on a survey of consumers and marketers, the firm recently released its annual report, Social Video Trends: Consumer & Marketer Insights for 2020.
Social video drives consumers to purchase
Video continues to be consumers’ favorite type of content to see from brands on social media. In fact, video ads were the number one way consumers discovered a brand from which they later made a purchase.
When it comes to platforms, Facebook is still at the top for following, engaging with, and watching videos from brands. In terms of where consumers are finding brands, YouTube, Facebook, and Instagram were the top purchase-driving platforms for consumers.
Marketers land new clients on social media
Sixty-four percent of marketers said a video ad on Facebook led to a new client, solidifying the platform’s reputation as the place to be for businesses.
Meanwhile, 79 percent of marketers said they reached a new client on Instagram, and 73 percent found one through Instagram Stories.
Marketers lean in to video
Given its significant return on investment (ROI), video has become synonymous with marketing, shaping the way businesses communicate with their customers on a regular basis.
- 91 percent of marketers are satisfied with the ROI of video marketing on social media.
- 85 percent of marketers say that video is an effective way to get attention online.
- 93 percent of businesses landed a new customer because of a video on social media.
YouTube forges ahead
Despite the continued growth of Facebook and Instagram, YouTube is the platform rapidly gaining traction as the place where consumers are checking out new brands and making purchases. This year, YouTube outranked Facebook as the #1 platform that affects consumer behavior.
- #1 purchase-driver on social.
- #1 way consumers discover and research new products.
- Ranked #1 among platforms consumers think are increasing in popularity.
Social video growth supports online shopping
Consumers expect businesses to have a strong social media presence, and they prefer video over other forms of branded content. Using video, marketers are connecting with consumers who discover, research, and purchase from brands online.
- 58 percent of consumers visit a brand’s social media pages before visiting their website, an 81-percent increase from last year.
- According to marketers, video is the #1 way to attract attention on social.
- 58 percent of consumers trust a brand with videos more than a brand without, up from 52 percent in 2018.
The Social Video Trends: Consumer & Marketer Insights for 2020 report was compiled from an online survey of 1,000 consumers, along with 500 marketers who work at companies that have produced at least two videos in the past year.