Promo by Slidely, a digital video solution trusted by Disney, Bose, Hilton, Century 21, and several other high profile clients, released a new survey yesterday that reveals some interesting consumer behaviors.
The survey, dubbed the ‘2018 PROMO Online Video-Watching Habits Survey,’ asked 500 consumers worldwide about their video watching and media consumption habits and which channel they preferred to watch branded video on.
Out of the polled group, 44% of consumers watch at least five videos online per day and of that group, 35% said they watch upwards of ten videos per day.
These revealing stats prove that consumer behaviors are changing fast. This also explains the sheer number of content marketers adopting video for social and integrating it into their content strategies.
This data, as well as other data presented in the study, also suggest that the smoldering video rivalry between Youtube, Facebook, and Facebook-owned Instagram is heating up.
Promo revealed that almost half (47%) of the polled consumers preferred to watch video marketing content on Facebook rather than Youtube (41%).
8% chose Instagram, 4% favored LinkedIn and Twitter combined, and 1% watched most of their content on Snapchat.
These results confirm that despite several data scandals resulting in declining user trust, Facebook has still somehow managed to become 2018’s leading channel for branded video, effectively snatching Youtube’s crown and taking full advantage of growing consumer interest in online video.
It’s highly likely that IGTV (Instagram’s new video hub for creators and users) and FB Watch (Facebook’s own video-on-demand platform), have been instrumental in this surprising shift.
Consumer interest in online video has grown dramatically and IGTV, launched in June, and FB Watch, launched last August, are direct responses to this demand. Facebook is positioning itself as a major player in the social video boxing ring and consumers are buying tickets to the fight.
Several creators, some of which have successful Youtube channels, and brands have started curating content specifically for IGTV and publishers affiliated with FB Watch have been generating modestly popular serialized content, both branded and unbranded, on a regular basis.
Online video marketing is evolving fast and marketers are seeking out those new, emerging platforms like IGTV and FB Watch to connect with younger audiences at the cusp of change.
According to the survey, 71% of consumers also said they find Facebook video ads relevant or highly relevant to them.
This is wonderful news for marketers as it confirms their social media ad spend is being put to good use. Furthermore, this data shows that marketers are doing an excellent job at targeting the right people at the right time.
This stat also proves that Facebook’s updated, mainly paid, marketing model is working. It may not be as popular amongst more cash-strapped marketers but it does prove that Facebook is targeting the user groups brands are looking for and that extra ad spend isn’t going to waste.
Consumers are not only finding branded video content on Facebook relevant and engaging, they are taking real, measurable action.
A resounding 70% of surveyed consumers said they sometimes visit a company’s website after watching a branded video. 60% said they typically visit a publisher’s page or profile after watching the video.
Of that group, 89% say that they read captions or accompanying text on social media videos either “often” or “sometimes.”
“These results speak volumes about the power of video ads to drive direct responses from customers and consumers. It also underscores the importance of incorporating strategic video ads as part of your marketing mix – especially when paired with a compelling CTA that’s likely to translate into consumer action.”
These incredible statistics prove that sponsored online video is not only engaging consumers, it is motivating them to connect with brands and click through their sites and pages; effectively boosting traffic and potentially sales.
Promo’s study uncovered several other behavioral trends in regards to online video. 65% of people prefer to watch Facebook video with the sound on. This is a slight contradiction to Facebook’s data that shows 85% of users watch video with the sound off.
The consensus of this is that while most people enjoy watching video with the sound on, videos with both sound and subtitles make the content more accessible and are more appreciated.
Interestingly, 70% of men prefer to watch videos on Facebook with the sound on while just under 58% of women indicated the same.
As video continues to explode in popularity, data reports like this will be vital for marketers to understand consumer behavior moving forward. Paid social media marketing isn’t a cheap endeavor and understanding these kinds of insights and anticipating consumer reactions to video content can help you (marketers) allocate your ad spend wisely.
Video marketing has never been more important and harnessing the power of emerging platforms like IGTV and older, but underrated, video platforms like FB Watch can help your brand stand out and in turn, drive more traffic to your brand.
What do you think of Promo’s study? Will it have an impact on how you conduct video marketing in the future? Let us know in the comments!