Want to reach young buyers? If so, using online video is an essential.
Animoto, a company that helps companies and individuals make online videos in minutes, has released data on the shopping habits of millennials—people born between 1980 and 2000—showing that online video is a powerful influence on what they buy. Consider that 70 percent of millennials are likely to watch video when shopping online and 80 percent find online video helpful when researching a purchase.
Millennials’ habits are far different from those of baby boomers. Animoto found millennials 150 percent more likely to use online video to comparison shop while in a store than baby boomers, and 146 percent more likely to watch a video on a company’s website while shopping online.
To reach these younger buyers, Animoto recommends adding online video to each part of the purchase cycle. That includes video product demos (85 percent of millennials find them helpful), videos for comparison shopping (almost three-fourths of millennials say they’re helpful), and company identity videos (almost one-third say it’s helpful to learn more about the company before buying).
Millennial video-watching doesn’t end when a purchase is made: 69 percent said they liked watching additional company videos after a purchase to research that company’s other products.
The statistic marketers really need to know is this one: 62 percent of millennials prefer watching a brand video to reading text. If you want to connect with young shoppers, video is simply your best bet. And make sure those videos are sharable: millennials are 264 percent more likely to share product videos than are baby boomers.
Animoto surveyed over 1,000 U.S. shoppers to get its results. For more, see its infographic.