Its 2016 and one thing is clear: Video is taking the social media and marketing world by storm, with absolutely no plans of stopping. There are more than 7 billion videos watched on Facebook and YouTube every day. So who is watching most of these videos? Millennials.
Animoto did a study on the relationship between millennials and video, finding how important Video marketing is when trying to reach an audience. Of Animoto’s findings, these stats stuck out the most:
80 percent of millennials consider video content when researching a purchase decision
7 out of 10 millennials are likely to watch a company video when shopping online
76 percent of millennials follow brands on YouTube
60 percent of millennials prefer to watch a company video over reading a company newsletter
Furthermore, it was found that over half of millennials enjoy watching product testimonials and demonstrations, but will not watch an entire video if they think the content is too promotional.
According to Kit Yarrow, millennials will spend $200 billion annually. They are spending machines and it’s important for brands and businesses to start constructing their marketing tactics around what millennials react and respond to: and that’s video.
Personally, as someone who identifies as a millennial, I could not agree more with these findings. While millennials are a spending powerhouse, we also like to do our research before buying a product or brand. I admit that I’ll watch numerous videos of people talking about a brand or product and doing demonstrations. Contrary to popular belief, millennials want to be smart with their money and respond more to businesses and brands who make their information easily attainable and enjoyable, aka those who publish videos.
So, that being said, is your brand doing the most it can with video? Are you showcasing content that people want to see and care about? It is important to create an identity for your brand, which can easily be done with video.
Video gives a voice and attitude to your brand that cannot be easily done though static images and text. Sprocket Media Works aims to find that unique-ness about your company or brand and showcase it in a way that you and your audience deserve.