85% of consumers worldwide rely heavily on video when they purchase goods and services online, according to a study by Brightcove.
As part of a global investigation led by the online video platofrm provider, shoppers around-the-world have shared their perspectives on just how important video is as part of the purchase journey.
Some of the study’s key findings include:
· Almost half of consumers worldwide (48%) say that video increases their confidence to shop online
· 71% say video with interactive features – such as links to purchase – are essential when making an online purchase
· 64% of consumers worldwide say they won’t wait more than five seconds for a video to load on a retailer’s website
· More than half of livestream event attendees say they made a purchase as a result of a live virtual shopping experience
· 36% say that video is most helpful in discovering new products online
Jillian Ryan, senior director of content strategy at Brightcove, said: “Millennials feel strongly about the impact video has in the post-purchase stages of a B2B buying journey. Nearly all (97%) professionals in this age group agree that video content and communication is useful in the post-purchase stages of their buying journey.”
A significant portion of this group prefers video over written formats for post-purchase situations. For instance, 80% of Millennials prefer video for learning how to use a product or service, and 81% prefer video over written formats for troubleshooting.
Ryan added: “In what ways do Millennials find video most helpful? Over half (53%) report that video is most helpful in sharing information with peers/colleagues who could also benefit from their recent purchase.
“So how can B2B businesses reach today’s increasingly Millennial workforce? Have video content available for prospects and customers to explore and engage with throughout their entire buying journey. This means not only hosting video content on your company website but meeting your customers with video across all touchpoints throughout their journey with your brand.”
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