Published March 31, 2015 by Mac Chorlton
I’ve seen a few recent surveys and studies showcasing viewing habits for online videos. Thought I’d share some of the highlights in my blog posting here.
For starters, it should come as no surprise that online viewing habits differ from younger and older viewers. Younger people have grown up in world where YouTube has been around for most of their life and online videos are prevalent and commonplace. In fact, a very high percentage (77%) of YouTube viewers are under the age of 35.
Younger people turn to online videos for numerous reasons including entertainment, information, and advice. Older people tend to prefer watching their entertainment on more traditional platforms like a good ol’ television set. But older viewers are increasing their use of online video to learn about products and services as well as for the endless “How to” categories where they can learn about everything from how to properly fillet a fish or how to clean a fish tank. Not sure if the same audience will be watching both of those videos though.
Another study had some interesting findings on when people are watching online videos and their effect on closing the sale. Sunday is apparently the best day of the week for consumers to watch product videos. Also, when people are shopping online, they have a much higher conversion rate for actually purchasing the product if they watch a video about it. In fact, people who watch a product video are 160% more likely to purchase than someone who does not watch a video. Video looks to be a strong closer as well and is very effective when the customer is furthest along in the decision making process to make a purchase. To borrow a line from Glengarry Glen Ross, if "coffee is for closers", then we should pour a cup for online video.
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