Between 2008 and 2013, the audience for online video grew from 38% of the U.S. population to 58%. Digital video is one of the greatest assets an online marketing can use. Why? Viewers tend to me more receptive to online video, even advertisements, and it allows marketers to tap what are otherwise hard-to-reach audiences [Nielsen].
How many people do you know who only have a mobile phone and do not have a landline telephone at home? Maybe that applies to you, yourself. That was totally nuts just a decade ago. Now it’s commonplace. In that same vein, more people are doing away with traditional TV, in favor of streaming devices and online viewing platforms, and newspaper and magazine sales continue to drop. All the while, internet and online video usage continue to climb.
According to research by Nielsen/IAB, people streaming video watch ads for an average of 20 seconds, with an average completion rate of 87%.
Video is emotive. It draws people in. Just look at its effect on social media sharing. The 2014 “Ice Bucket Challenge” fundraiser for the ALS Foundation is a perfect example. These videos created empathy, urgency and a sense of broad community. Video, in this instance, created an inclusive club of people who got an ego boost from doing something good – all that from what started as a request for money, with nothing in return!
As far back as 2010, statistical research revealed that visitors who view product videos are 85% more likely to buy than their counterparts [Internet Retailer], and retail site visitors who view video stay two minutes longer, on average, and are 64% more likely to purchase than other site visitors [Comscore]. Comscore also tells us that video consumption has gone up more than 800% in the last six years alone.
So what is the impact of video online? Well, it’s significant, to put it mildly.
- Video appears in 70% of the top 100 search listings.
- Videos increase the length of time people stay on your page/site.
- Videos increase the level of trust, particularly when they include real people or places connected with your brand/business.
- Words cannot often convey what video can (this is especially true in real estate advertising!).
Video allows you to tell a story. If you know who you’re trying to reach (homebuyers, for instance), video allows you to more accurately craft your desired outcome, and attract buyers and visitors who want more than the basics.
The impact of video online is more interest, more views, more leads, and more conversions.