Customers are Consuming More Video Content on Social Media
Animoto recently published the results of “The State of Social Video” survey in an infographic, and statistics showed that video (45 percent) is by far customers’ favorite type of branded content on social media.
Furthermore, 73 percent say they have been impacted by a brand’s social media presence when making a purchase decision. Approximately 32 percent of customers check out a brand’s presence on social media before even visiting their website.
Video ads have become the number one way that customers have found out about a new brand or product before making a purchase. Recommendations from friends (31 percent), Facebook groups (30 percent) and sponsored influencer posts (29 percent) are some of the other ways that customers are discovering new brands and products.
Marketers and Original Video Content
As video continues to pay off, previous research shows that marketers are investing more money on original video content.
IAB conducted the “Digital Content NewFronts: Video Ad Spend Study 2018” to determine how much money marketers are spending on original video content. Statistics showed that marketers spent upward of $10 million on digital/mobile video advertising in 2018, and $4.7 million specifically went toward original content.
In 2018, an average of 47 percent of digital video budgets went toward producing original content. This was an increase from 44 percent in 2017 and 43 percent in 2016.