BOSTON, February 8th, 2017 - On the heels of a holiday season in which retail sales grew four percent year over year according to the National Retail Federation {NRF}, new research commissioned by online video solutions provider, Brightcove Inc. (NASDAQ: BCOV), lays out some valuable considerations for those who are looking to use social video as a way to pick up sales and make in-roads with their target age groups.
The global survey – conducted with 5,500 consumers in the UK, France, Germany, US and Australia – showed that three quarters (74%) of consumers connect watching a video on social media and their purchasing decision-making process, demonstrating why brands are so enthusiastic about video on social platforms. The survey also revealed some interesting generational differences when it came to social video viewing habits, branded video engagement, and – most importantly for retailers – social video conversion.
Here is a snapshot of the key findings across three of the generations:
18-25 year olds
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The highest of all age ranges, the 18-25 year old generation is spending an average of nine hours a week watching social video – two hours more than the next generational average
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Though Facebook was the second most popular social network after YouTube for all generations, Facebook’s lowest viewing figures came from 18-25 year olds – accounting for only 24% of their total viewing time versus the average of 36% for other generations
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Conversely, 18-25 year olds reported the highest video viewing figures on both Snapchat and Instagram – accounting for 9% and 8% of their current views, respectively
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When asked about their trust in video sources, 18-25 year olds said they were more likely to trust video from influencers and vloggers (49% more likely to trust) than from brands (40%) or publishers (44%)
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Raising the stakes for brands, 18-25 year olds are most likely of all generations (25%) to discourage others from engaging with a brand following a bad social video experience
26-34 year olds
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26-34 year olds showed the most trust in content from both brands and publishers, with 51% likely to trust content from a brand, and 53% from a publisher
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This generation recorded the highest level of interaction with brands on social media (89% versus the average of 81%)
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26-34 year olds are the most likely to connect watching a social video and their purchase decision making process – 84% said that social videos have an impact (versus an average of 74%)
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That age range was also most likely to have made a purchase after watching a brand social video – three fifths (60%) stated that they had done so
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Findings showed that 26-34 year olds are most likely (35%) to feel emotionally connected to a brand after watching a good brand video on social media – but are also most likely (32%) to disengage with a brand following a bad experience
55+ year olds
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While YouTube was by far the dominant platform for social video viewing across all other generations, the 55 years old and over generation split its social video viewing time almost equally across YouTube (48%) and Facebook (47%)
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Indeed, it was the generation that spent the highest portion of its social viewing on Facebook – with the 18-25 year old generation spending the lowest
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One in three 55+ year olds (30%) had made a purchase as a result of watching a brand video on social media
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Showing high levels of distrust of influencers, almost one in two (46%) 55+ year olds are less likely to trust video content from a celebrity or vlogger – instead placing the highest trust in content from family and friends (80% more likely to trust)
Further findings from the research are detailed in the full report, which can be downloaded here.
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Notes to Editors:
Research Methodology
Vanson Bourne, the research firm that conducted the survey, interviewed 5,500 consumers, aged 18+, in the following countries: the UK, France, Germany, US and Australia (1,000 respondents in the UK, France and Germany, 2,000 in the US and 500 in Australia). Fieldwork was conducted in September-October 2016.
About Brightcove
Brightcove Inc. (NASDAQ:BCOV) is the leading global provider of powerful cloud solutions for delivering and monetizing video across connected devices. The company offers a full suite of products and services that reduce the cost and complexity associated with publishing, distributing, measuring and monetizing video across devices. Brightcove has thousands of customers in over 70 countries that rely on the company’s cloud solutions to successfully publish high-quality video experiences to audiences everywhere. To learn more, visit www.brightcove.com.
Press Contacts
North America:
Phil LeClare
Brightcove
(617) 674-6510
press@brightcove.com
Europe:
Rebecca Lake
WE Communications for Brightcove
+44 (0)207 632 3856