Millennials’ spending habits more influenced by video ads than older generations
One in five millennials are more likely to purchase a product or service after watching a video advert, a new report has found.
The research, conducted by video production company Groundbreak Productions, which surveyed 1,000 consumers in the UK, also revealed the kinds of video adverts that consumers enjoy.
42% of consumers like video adverts that are informative and ‘to the point’, and 22% would be more likely to make a purchase after watching this kind of video content.
More than 30% of people surveyed like video adverts that tell a story, with 29% favouring those that make them feel nostalgic – 12% said that they would potentially buy a product or service after watching one of these adverts.
Perhaps surprisingly, just 8% of consumers like video ads that have one of their favourite celebrities in them, with only 3% more likely to make a purchase after seeing one of these.
However, older generations are less receptive to video adverts. With only 12% of 45-54 year olds, 13% of 55-64 year olds, and 6% of those aged 65 and over said that they would be more likely to purchase a product or service after watching a video advert.
Geoff Brooks, CEO at Groundbreak Productions, said: “This research really highlights the importance of brands carefully considering the way they use video to advertise their products or services to their target market.
“The fact that millennials’ spend is most likely to be influenced by video adverts is good news for those businesses targeting these consumers. However, for those that have different or more varied target markets these statistics shouldn’t be off-putting. Instead of packing in video advertising altogether, the research suggests that to influence consumer spending brands need to create either snappy and ‘to the point’ adverts, or invest in storytelling.
“As marketers increasingly champion digital platforms over print advertising, consumers are being bombarded with more video content than ever. As a result, for brands to get the best return on investment they need to start paying more attention to what consumers actually want from this kind of marketing and adapt their approach accordingly.”
The full report can be viewed here: http://groundbreakproductions.co.uk/the-future-of-audio-visual-content/
Groundbreak is an award-winning film and video production company with offices based in Manchester and London.
Founded in 2012, the agency creates high quality advertising and feature content for online and TV broadcast. Groundbreak offers a host of production services including conceptual development, scripting, high-end VFX and animation, as well as studio or location-based filming.
With a turnover increase of 60% year on year, Groundbreak is a fast-growing company that has worked with some big names including Brother International and Moneysupermarket for several years, creating content for a range of internal and external campaigns. The agency has also worked with a number of high-profile public sector clients including the Department of Health, NHS, the National Lottery and the National Crime Agency (NCA).