As we enter an era where the bulk of today’s purchasing power is now in the hands of digital-native generations, video is no longer just a component of your marketing strategy; it is the central pillar around which consumer engagement revolves. Video has woven itself into the very fabric of consumers' lives, influencing their learning preferences, decision-making processes, and ultimately, their purchasing behavior.
For marketers, shifting to a video-first mindset is essential for brands to connect with their audiences to drive revenue and engagement. With 58% of consumers relying on product videos to make purchasing decisions, the importance of video in the purchase journey cannot be understated.
“The power of video in today's market cannot be overstated – it is the lens through which consumers view, evaluate, and connect with brands. Marketers must think video-first from this point forward.” - Vincent Yang, CEO, Firework
Recently, Firework, a leader in the field of video commerce, surveyed 750 U.S. consumers to better understand the video-first phenomenon and how marketers can be more aligned with this paradigm shift in consumer preferences. Here are five insights from the report that hammer home the need for a video-first marketing approach, plus pro tips to help your brand jump on the video marketing train:
Video now leads the consumer journey
With 62% of consumers favoring video to learn about new products, the message for marketers is clear: video is not just an option; it's a necessity. The preference for videos signals a shift towards more dynamic, engaging content formats that cater to the modern consumer's needs.
Pro Tip: Capitalize on this trend by producing educational videos showcasing your product’s features and benefits, making sure they are easily accessible across all your digital channels.
Product videos are no longer a “nice to have”
Over 80% of consumers state they want more product videos, highlighting an opportunity for brands to differentiate themselves and improve the customer shopping experience through rich, informative video content.
Pro Tip: Expand your video library to include a range of product-focused content, from how-tos and tutorials to user-generated content, ensuring a comprehensive visual shopping experience for your audience.
Videos shape purchase decisions
The influence of video on purchasing decisions is staggering, with a 51% increase in purchase likelihood when consumers are able to engage with video content. The powerful impact of video on purchase likelihood underscores the role of video in informing, persuading, and converting shoppers.
Pro Tip: Craft compelling narratives around your products through video storytelling to connect with your audience's emotions and needs, effectively guiding them from interest to purchase.
Consumers expect more from videos
With 40% of consumers preferring personalized video content, it’s safe to say the desire for personalized shopping experiences is here to stay. This trend reflects the growing consumer expectation that brands tailor their communications and offerings to individual customer preferences.
Pro Tip: Leverage data analytics to create segmented and personalized video campaigns that resonate with different audience groups, enhancing relevance, loyalty, engagement.
Use videos at key inflection points to drive sales
The presence of video on brand websites can significantly sway consumer behavior - 40% of consumers are more likely to purchase from brand websites that incorporate video content.
Pro Tip: Enhance your brand’s website with a variety of video content, including product showcases, customer reviews, and behind-the-scenes looks, to enrich the customer journey and encourage conversions. Encouraging user-generated content is a low-cost way to amass video content and position your brand as the authority in your retail sector.
Video is no longer simply a tactic, it’s a necessity
A marketer’s job has always been to reach audiences where they are and via their preferred methods. For today’s tech-savvy generations, that method is video, which has become the primary format for communication, entertainment, and commerce. The video-first approach is about keeping pace with the digital generations of now and the future. For marketers looking to grow their engagement with consumers, embracing the video-first imperative is a logical, data-supported step forward.
For more statistics, insights, and pro tips, download your complimentary copy of Firework’s Think 'Video-First': A New Imperative for Brands eBook.
