There’s a reason why 71 percent of companies are investing more in video marketing this year. It’s in high demand by the consumer demographic that’s soon to be the most important for brands: Millennials. The 18-to-34 age group is about the become the demographic with the most buying power, and studies show video content is one of the best ways for brands to reach them with their marketing messages.
YouTube is a hub for brand information
The Q1 2014 YouTube Insights report by Google culled survey data about Millennials and found that YouTube is the top destination for learning about products and services. When asked: “Which of the following sites, if any, do you use to learn about products you are interested in (i.e. smartphone, beauty product, etc)?” 100 percent said they default to YouTube.
Providing a personal touch – Kind of
Millennials have grown up in an era that straddles the line between tradition and innovation. On one hand, they’re used to visiting brick-and-mortar stores and speaking with customer service representatives face-to-face. At the same time, they’re comfortable firing up a computer and entering their payment information to purchase items without having handled them first. Perhaps video is the happy medium, in which they’re still receiving information from a presenter who can demonstrate how products work, or talk through the benefits of services.
Data from the report supports the idea that video content can nudge consumers toward purchases, even more effectively than TV. When asked about which content has an influence over their ultimate decision to buy, 78 percent of Millennials said YouTube videos played a role, while only 49 percent said the same about television shows. Similarly, 61 percent reported the videos they watch about smartphones on YouTube are likely to impact their purchases, and 73 percent agreed the organic content they see about automobiles plays a part in their decision-making processes.
Save the hard pitch for the sales floor (or your product landing pages)
Marketers must embrace the idea of empowering their consumers with all the knowledge they need to make an informed purchase. If they don’t, prospects will go somewhere else to find customer testimonials, product reviews and detailed specs. If they do, potential customers may start to form a connection with the brand because they know their needs will be addressed. To be successful with this approach, companies need to focus on being educational rather than promotional, focusing on what clients want to experience instead of inundating viewers with brand messaging.