We all know that content is king on the Internet; and when it comes to types of content, it looks like video is at the top of the food chain. Video is everywhere online, from feature-length films, to sales pitches, to amateur videos of people at the zoo. Year over year, YouTube comes out with statistics showing staggering growth in videos uploaded and viewed.
The good folks at MultiVisionDigital published the infographic below to put into perspective how the omnipresent video is affecting consumer decision-making and behaviour. If you are trying to sell products or services, you may want to add video to your online strategy (if it isn't there already) as consumers are 64% more likely to purchase a product after watching an online video.
The most unexpected finding was that video has a lifespan of 4 years. That's an eternity. Considering that the average lifespan of a Facebook post is 3 hours and 7 minutes, a four-year shelf-life for a video is astounding. To put it in perspective, exactly 4 years ago, on the date this post was published, Taylor Lautner was hosting Saturday Night Live making jokes about Kanye's stage crash of Taylor Swift at the 2009 VMAs...but you know what, I still like that Kanye video so the 4 year lifespan checks out.
The infographic also shows that video is not just used for traditional B2C decision-making, but executives are using videos to inform their B2B purchasing choices.
- The average user spends 88% more time on a website with video
- 60% of consumers will spend at least 2 minutes watching a video that educates them about a product they plan on purchasing.
- 96% of IT decision makers and tech buyers watch videos for business
- 75% of executives watch work-related videos on business websites once a week
What do you think? Do online videos impact your decision-making? When was the last time you made a medium-sized or large purchase without checking out YouTube to see the product in action? Leave a comment and let me know.