Video ad spend is forecasted to reach up to $9.26 billion by 2024, according to Statista. But video’s been a central pillar of social media success for years. So, why is this year any different? We asked the source–the folks who see video marketing in action, and make purchase decisions because of it.
Our team surveyed 580 consumers to see how video is making an impact on their day-to-day social media habits. Where are consumers browsing? Why are they choosing to purchase? And how can marketers reach these viewers? Here are some highlights:
- 93% of consumers said video is helpful when purchasing a product.
- Consumers said video was their #1 favorite type of content from brands on social media. -Facebook, Instagram, and YouTube are the top three platforms consumers use to find the most new products or services.
- When learning about a new product or service, consumers prefer video over reading about a product or looking at photos.
For more key trends, and to see how your brand can stand out with video, check out the full infographic below:
