2016 saw yet another surge in the popularity of video as a way of consuming content. From personalised customer videos and 360-degree videos to YouTube, Facebook Live and Twitter Autoplay, businesses are responding to their customers’ shorter attention spans and demand for content on the go by making their content more interactive, dynamic and visual. A trend that is only going to rise exponentially throughout 2017.
Video is growing at such a rapid rate that it is beginning to dominate the everyday customers’ online activity. A recent study by leading-edge software solutions provider, HighQ, found that 78% of people watch videos online every week and 55% watch videos online every single day. A massive 81% of people also now feature video on their website in the hope of generating more online sales. The message to businesses, regardless of the sector or industry in which they compete, is that if you don’t already have a video marketing strategy in place then you risk missing a tremendous opportunity to reach out and engage with your customers!
2017 is being referred to as the year of video and recent studies suggest that come the end of this year, online video will account for 74% of all web traffic! A key driver for this is that more video content is uploaded to the web in one single month than TV has created in over three decades! People are also more acceptable of video content these days with 65% of viewers watching more than ¾ of a video, meaning they engage more with your brand messaging, therefore influencing them to engage and do business with you.
We live in a time poor, consumerism rich society where people want content that is bespoke and relevant but at a time that is most convenient to them. Over 76% of people own a smartphone or tablet and this has resulted in a significant rise in mobile video consumption with 33% of tablet owners watching around an hour of video on their devices every day and 28% of smartphone users watching a video on their devices at least once a day. Getting your brand messaging, services and products to consumers via mobile is becoming more and more vital!
The popularity of video
The popularity of video isn’t just sat with the youth of today however, as 75% of business executives watch work-related videos at least weekly. 59% of which agreed that if both text and video are available on the same topic on the same page, they prefer to watch a video. 54% of those who watched the video said they would most likely share it with their friends, family and colleagues at least weekly, therefore opening up additional sales opportunities for your business. 67% of people who use video marketing found it successful and particularly effective for brand awareness (52%), lead generation (45%) and online engagement (42%). Click through rates on emails and SMS show on average increases of between 200 – 300% when a video is included. Video is becoming a powerful tool that you can hit your customer with any place, any time.
Video is beginning to play a significant role in the automotive industry with over four million personalised customer videos being sent in 2016 and this number is set to rise further in 2017 as the next generation of car owners enter the market. Referred to as ‘Generation Z’ the next generation of car owners have experienced widespread usage of the internet from a young age and are typically thought of as being most comfortable with the latest video technology and interacting on social media for a significant portion of their socialising and purchasing behaviour.
Video for the Automotive industry
Some commentators have suggested that growing up through the recession has given this next generation a feeling of unsettlement and insecurity, meaning garages and car dealers will have to work harder to gain their trust and investment. Video will be a key contributor to winning over this generation of car owners as car dealers and garages can build transparency and trust by highlighting the condition and key features of a car for sale (without the customer needing to visit the forecourt) and showcase the legitimacy of repair work carried out on the car in the workshop (without the customer needing to be physically stood underneath the car). The likes of Auto Trader have already taken to including video as part of their online strategy for buying and selling new and used cars. Who will be next?
Video is impacting on the way in which people by cars and a recent article on the BBC titled ‘Online car sales to accelerate, as salesmen take a back seat’ predicted that 2017 will be the year that tens of thousands of people will start to buy cars not from a salesman, but directly from their laptops, tablets and smartphones! Industry figures showed that the average car buyer used to visit three showrooms before buying, now that number is down to just one! Video can help ensure it is your forecourt they ultimately choose to visit.
Essentially video is becoming a vital marketing and sales tool across all sectors and industries, none more so than the automotive sector and now is the time to start taking advantage of this growing trend. Can you afford to miss out?!
Through our ‘My Sales Trust’ and ‘My Service Trust’ solutions, personalised customer videos are now available to independent garages, dealers, national retail groups and motor factors at an affordable price. Sign up and start taking advantage of our FREE 30-day no-obligation trial today!