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How Video Advertising Influences Consumer Purchase Decisions ( And Gets Them to Take Action)
Today’s ever-expanding digital marketplace provides startups and small to medium-sized businesses (SMBs) with unprecedented access to growth opportunities. However, in most sectors, businesses struggle to effectively reach consumers, grab their attention and transition their interest into tangible results. In nearly every case, understanding a shopper’s behavior is essential to build and manage an effective advertising campaign to reach new clients.
Modern consumers rely heavily on the information found in online reviews, blogs, articles and other content formats to help make purchasing decisions. In addition to these formats though, video advertising appears postured to not only enjoy explosive growth, but to reach a wider audience more effectively. Below, we’ll explore this expanding content arena, discuss how consumers use it in their buyers’ journey and then offer insight into the importance of video marketing in content development strategies.
Google’s recent consumer survey focused heavily on the expanding role of video advertising in consumer decision-making. What they discovered after interviewing nearly 25,000 shoppers spread across 10 countries might surprise you. More than half of all consumers interviewed, 55% to be exact, stated that they routinely access video content and advertisements while shopping in a store.
Many of those interviewed also stated that videos deliver a high rate of confidence in the specific brands of products and services they plan to purchase. Over 50% said that video content helps them make a final decision when comparing similar products. According to Forbes, by 2022, advancements in technology will allow consumers to more effectively interact with ads from their smartphones. Getting ahead of this power curve now is crucial for businesses hoping to ride this wave of innovation.
Based on Google’s data, we know that shoppers have confidence in the information they find in videos, but how are they accessing and using this data? Although sources vary widely, shoppers often turn to trusted web celebrities across major social media platforms such as YouTube, Facebook, Instagram and more. Beyond social media, online and in-person shoppers also carefully weigh the information found in video product reviews and advertisements on a business’s website. When video advertisements are done right, it can even help build consumer trust in a brand.
Some of the most common examples of using video content and advertisements to influence customers’ purchasing decisions include:
- Step-by-step tutorials exploring how to find the right vehicle for the viewer’s needs
- Videos which assess the quality of several leading brands of smartphones
- First-hand makeup product experiences from well-known social media influencers
- Unboxing videos which capture a child’s initial impressions of a toy
- Video reviews of video games from popular vloggers
- Comparison data covering the pros and cons of various pet foods
- Step-by-step tutorials exploring how to find the right tires for your car
- Quick reference videos that help assess the quality of jewelry and more
The Rise of the Virtual Shopping List
Another surprising fact unearthed during Google’s study was that consumers are abandoning the traditional paper shopping list in favor of video content. Shoppers use this content to generate virtual lists and they repeatedly reference this content in the final phases of purchasing journeys. Some examples include:
- Accessing a vlog discussing the required ingredients for an exciting new dish
- Watching videos from home improvement experts listing items for a DIY project
- Comparison of data covering the price, quality and effectiveness of health items
Do you know that 84% of Americans are shopping for a product or service at any given time and in up to six unique categories of goods? Reaching these shoppers at the critical decision-making phase of their journey is not only crucial to recruiting new customers, but can also bolster your bottom line. Keep in mind that your customers often collect a variety of last-minute information via videos before making a purchasing decision. Crafting engaging, actionable, entertaining and accurate video advertisements could be a critical factor in meeting the information demands of tomorrow’s consumers.
Would you like to learn more about what it takes to produce video content? If so, connect with our team of passionate marketers, video producers, video editors, animators and more at Telideo by calling or texting us at 720-245-8277. We look forward to the opportunity to collaborate with you and put our decades of hands-on experience to use to help your business reach exciting new vistas of success.