How Companies Use Video Marketing to Influence Consumers
Video continues to be an incredibly powerful tool when it comes to influencing consumer decision making and driving sales revenues for brands into 2022. Figuring out how companies use video marketing to influence consumer behavior to their advantage so that they can earn a piece of the 93% of consumers who admit video is helpful to them when purchasing a product or service online is certainly important for any business. So what is it that these big brands are doing? What do they know about consumer behavior that we don’t?
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Social video ad spending has grown by 44% in the past year.
Digital video spending is projected to hit nearly $44 billion by 2025.
85% of millennials have purchased a product after watching a video. Statistics like these flood the internet when searching for details on video marketing and the benefits, but how are companies using video marketing to influence consumer purchase decisions, exactly?
What can be said, specifically, about how companies use video marketing to their advantage in order to influence consumer behavior, pushing the consumer in the direction that is most appropriate for their brand?
The Psychology of Video
You might be surprised to know that there’s actually scientific data behind how companies use video marketing to influence consumer behaviors.
According to actual scientific research, an MIT study proved that the human brain is capable of processing and identifying images in 13 milliseconds.
Additionally, a frequently cited statistic surrounding video is the 60K fallacy.
The 60,000 fallacy basically states that human brains are capable of processing visuals 60K times faster than we can process text.
So from a scientific perspective, just think about how much more we can say with video, visually, to the average human brain in just a few seconds compared to what we can say with text – it’s no wonder they say a picture is worth a thousand words and a video is worth 1.8 million words!
Just utilizing video gives companies the power to communicate so much more to their audience members:
Instead of communicating just a few words on a page, or just a few important details, a short video can literally communicate deep thoughts, strong feelings, incredible connections, powerful emotions, and engrained memories like no other form of content ever can, ever could, or ever will!
The Persuasive Power of Video
As we look at how companies use video marketing to influence consumer behavior, it’s important to consider closely the persuasive power of video and what it means to the end consumer.
Companies that use video to share their stories, in a persuasive manner, have the power to connect with consumer emotions on a deeper level.
According to a study conducted by Princeton University neuroscience Professor Dr. Uri Hasson, something very unique occurs inside the human brain when we tell, and listen to, a story the way we do when we watch a persuasive video.
What this study says:
According to this study, when two people engage in the practice of telling, and listing to, a story together they display a response across various regions in the brain that is described as neural coupling.
Telling a story, through the narrative of a single individual, has the power to influence how the message is received.
Brands use videos to share the individual stories that their audiences are most likely to resonate with, in order to influence the desired behavior such as making a purchase, following the brand, donating, or otherwise connecting in some manner.
Video Cuts through the Noise to Influence Awareness
Certainly, there’s science behind how companies use video marketing to influence consumers.
There is the persuasive power of video to share a story which again has scientific evidence behind the effectiveness.
Also, there’s another way that companies use video marketing to influence consumer habits – and that’s the use of video to build brand recognition.
The use of branded video represents a proven method of cutting through the noise online, overcoming all of the chitter chatter that’s taking place throughout social media, on blogs and webpages, and anywhere else online so that the consumer can better recognize what they’re seeing and recall more of what they watched.
Not only do consumers recall 90% of what they see in a video, they’re more likely to remember what they saw and to recognize a brand that was represented in a video than they would brand that are not represented by video content.
The use of video to influence consumer purchase decisions, and generate trust is certainly a big thing.
According to recent studies, 43% of consumers state that video content is more memorable than any other form of content online and 81% of customers state that they have been convinced to purchase a product or service after they watch a branded video.
These figures, and the proven fact that video is more frequently shared, commented on, or otherwise engaged in go to show how influential video marketing can really be.
Learning how companies use video marketing to influence consumer behavior certainly stands to help brands maximize their use of video in the future to get the most from their marketing budget.
As you can see, brands are incorporating video into their marketing strategy in a variety of different ways and for various causes, to influence sales, increase awareness, and generate greater interaction online.
So how will you use video marketing to influence your customers?
