In the United States, each person consumes an average of 19 hours of online video every month, according to an infographic by Invodo.
Sixty percent of that video time is spent watching product videos, and 52 percent of consumers report “watching product videos makes them more confident in their purchase decisions.” Three out of five consumers are willing to spend at least two minutes watching a product video, and one in two consumers are less likely to return a product after they’ve done so.
Mobile shoppers are three times as likely to watch a video as desktop shoppers, and half of all smartphone users viewed a product video on their device over a three-month time period. Invodo reports, “shoppers who view video are 174 percent more likely to purchase” than those who did not.
According to Forbes and data from Software Advice’s B2B Demand Generation Benchmark Survey for 2012, consumers prefer videos over white papers, price quotes, surveys, and eBooks.
Brenna Fitzgerald of brightideas says, “Online video is and must continue to be an integral component of marketers’ ongoing strategic planning.”