TURNING VIEWS INTO VALUE

Transcription

1 THE SCIENCE OF SOCIAL VIDEO TURNING VIEWS INTO VALUE With eight in ten consumers engaging with brands on social media, and three in four consumers linking social video viewing to purchasing decisions, we examine how brands can make the most of this opportunity. The meteoric rise of video viewing on social media networks has been a hot topic of conversation over recent years. Amongst the most quoted stats are these facts: Facebook now receives 8 billion video views per day, while Snapchat reportedly goes 2 billion better with 10 billion views. Though YouTube is typically more vague with its stats preferring to measure its growth in terms of hours spent than views and stating that every day people watch hundreds of millions of hours on the site. Twitter recently released figures showing that its video views had grown by 220% in the 12 months previous. Building upon numbers like these, Cisco has predicted that by 2019, 80% of the world s consumer Internet traffic will be made up of video. For brands, the growth in the popularity of social video represents a massive opportunity to reach a large and captive audience but only if approached correctly. With such a vast array of social media networks to keep track of however, how can brands navigate their way around them successfully? And what can they learn about the where, what, and why of current social video viewing habits in order to capitalise on them? Why Read This Report In September 2016, Brightcove commissioned research firm Vanson Bourne to examine consumers changing social video engagement habits and preferences. The goal of the research was to ascertain how brand social video in particular is driving, or has the potential to drive, behaviours across the buying cycle. Incorporating the responses of 5,500 viewers aged 18 years and over across the UK, France, Germany, US, and Australia, this report offers not only a fascinating snapshot into the evolving world of social video, but also a glimpse at the benefits for those brands who are able to turn it to their advantage Brightcove, Inc. All Rights Reserved. 1

2 SOCIAL VIDEO CONSUMPTION If the industry stats in our introduction weren t enough to convince you of social video s rapid rise to prominence, then perhaps this one will. Our results showed that consumers are spending an average of six hours per week watching video content on social media networks alone. Consumers are spending an average of six hours per week watching video content on social media networks alone. Nearly seven in ten (67%) said that this amount has increased in the last twelve months a fifth said considerably so and three fifths expect it to continue rising over the next year. When it comes to preference, YouTube is the indisputably dominant social network. Consumers told us that half (50%) of their social video views currently take place on YouTube, a third (36%) on Facebook, and the remaining 14% is split over networks like Snapchat, Twitter and Instagram. This same split could broadly be seen across all five countries that were surveyed. SOCIAL VIDEO PREFERENCE BY NETWORK 50% 36% 14% YouTube Facebook Other Perhaps unsurprisingly, the most popular social video content types are music videos (56% watch), User Generated Content (53% watch) and film trailers (52% watch). Differing slightly in order depending on viewing location, music videos were the top choice on YouTube, and UGC the top choice for almost all the other social networks. Going against the crowd however, users of LinkedIn picked news as their number one video type (35%). Across the social networks, the top three ways consumers discover their video content are when they scroll through newsfeeds (62%), when it is shared by someone on their network (49%) and when they actively look for it (46%) Brightcove, Inc. All Rights Reserved. 2

3 MINUTES OF SOCIAL VIDEO CONSUMERS WATCH PER DAY PERCENT OF TIME SPENT ON EACH CHANNEL 80 Facebook UNITED STATES 60 UNITED KINGDOM 46 FRANCE 37 GERMANY YouTube Other AUSTRALIA 51 0 US Australia France Germany UK PERCENTAGE OF CONSUMERS THAT INTERACT WITH BRANDS ON SOCIAL MEDIA United States Australia France Germany United Kingdom 85% 83% 75% 77% 80% 45% watch branded videos 47% watch branded videos 44% watch branded videos 31% watch branded videos 47% watch branded videos 53% made a purchase after watching branded video 48% made a purchase after watching branded video 39% made a purchase after watching branded video 41% made a purchase after watching branded video 43% made a purchase after watching branded video COUNTRY COMPARISONS Australia showed the highest growth in social video views over the past year with 73% of Australian consumers admitting to an increase in the amount they watch When asked to look ahead to the next twelve months, French consumers predicted the least growth in their views (only 53% expected to watch more social video) Americans emerged as the most likely to watch how-to videos (44%) or live streamed content (25%) Germany saw the highest viewership for music video content (61%), but the lowest comparative figure for UGC videos (43%) Germans were also most likely to actively look for video content 60% discover videos this way, while the French are the least likely (38%) to do so Regardless of consumers preferences for social network, content type or discovery method, our results clearly underline the rising popularity of social video. But what does this wealth of views actually look like in terms of engagement? 2016 Brightcove, Inc. All Rights Reserved. 3

4 SOCIAL VIDEO ENGAGEMENT AND ACTION The top three actions taken across social networks after watching any type of video are typically likes, shares and comments with Instagram taking the crown for the network on which consumers are most likely to act on the videos they see. Consumers like videos on social media almost one in every two (47%) times they watch them, share them one in three (37%) times and comment on them (28%) of the time. For those seeking more than that, YouTube, LinkedIn, and the German network, Xing are the social networks on which consumers are most likely to click through from a video for further information. Looking behind these numbers into what is driving this engagement, the key attributes given by consumers when asked what they were looking for from social videos were for the content to be engaging, relevant to their interests, and of good quality PERCENT OF TOP SOCIAL ACTIONS Australia US UK Germany France Likes Shares Click Thrus Comments LESS IS MORE Particularly telling in light of our previous research on consumer ad tolerance and the rise in ad-blocking, length was the number one priority for consumers when watching video ads on social media networks but didn t appear in the top three qualities for any other video type Brightcove, Inc. All Rights Reserved. 4

5 PREFERENCES FOR BRAND VIDEO CONTENT Though the general results paint a highly attractive picture of social video in terms of viewer numbers and engagements levels, the key question for brands is whether this consumer interest is transferring across to their content something we set out to investigate further. As a starting point, over eight in ten (81%) consumers said they engage with brands on social media. Breaking this down, half (50%) of all consumers said that they read brand posts on their newsfeeds, and a little over two fifths (43%) watch brand videos in their newsfeeds or become a fan of brand pages (42%). With the most brand video viewing currently taking place on LinkedIn and Periscope, consumers appear to look for exactly the same top three qualities from brand videos as with any other form. Our results also revealed that over a third of consumers (36%) would be more likely to watch content if shared by a brand a level of trust that was particularly apparent in the US (40%). When measured against other mediums like written copy (22%) and imagery or graphics (26%), video emerged as the most popular first choice for brand content (31%). BRAND CONTENT IMPACT 31% 22% 21% 26% Video Graphic Text Other Almost eight in ten (79%) respondents agreed that video is the easiest way to get to know a brand online. Perhaps connected to this, almost eight in ten (79%) respondents agreed that video is the easiest way to get to know a brand online Brightcove, Inc. All Rights Reserved. 5

6 MOVING TOWARDS SOCIAL VIDEO CONVERSION Getting to know a brand is an excellent starting point, but the ultimate goal for any business is achieving that ever elusive connection to sales. In this regard, our results provided some highly compelling evidence of success. First and foremost, nearly three quarters (74%) of consumers pointed to a connection between watching a video on social media and their purchasing decision-making process. In fact, nearly half (46%) of consumers said they have actually made a purchase as a result of watching a brand video on social media, and another third (32%) have considered doing so. Nearly three quarters (74%) of consumers pointed to a connection between watching a video on social media and their purchasing decision-making process. Videos that converted sales successfully were noted to have provided the right level of information on the brand or product in question (57% of respondents said this was a factor), and be relevant to the consumer s interest (54%). In terms of their efficacy, of equal significance was the fact that the vast majority of consumers (92%) confirmed that they recognise when a brand video on social media is encouraging them to take an action such as to buy something. COUNTRY COMPARISONS The US had the highest percentage of consumers (85%) that interact with brands on social media Comparatively, one in four French consumers say they never interact with brands on social media making them the lowest ranked country for interaction Though Germans chose becoming fans of brand pages (44%) as their top method for interaction, it was consumers in the US who were most likely to take this action (48%) 53% of US consumers have actually made a purchase as a result of watching a brand video on social media. This is the highest conversion percentage of all five countries Australian and German consumers are the least likely to recognise a call-to-action in a brand video 2016 Brightcove, Inc. All Rights Reserved. 6

7 MAKING THE MOST OF THE OPPORTUNITY While stats like those in the previous section prove the huge potential of social video, our research also indicated a number of areas where there is opportunity for brands to push its value even higher. It was not so long ago that social networks might have been considered the exclusive domain for entertainment content. However, as brands continue to invest in social media, and as social networks invest more in video capabilities, brand video has grown to 14% of the video content consumed on social networks. With over eight in ten (81%) consumers interacting with brands on these social channels, and three in four (78%) viewers making decisions based on the brand videos they watch, this presents a tremendous opportunity for brands to invest in social video strategies. What is more, our results show that brands are now going head-to-head with music videos, film trailers and UGC to earn a significant number of eyeballs. Fourteen percent (14%) of the 500 million users that were reportedly watching Facebook videos on a daily basis in the third quarter of last year, for example, would be a huge audience. Just imagine what that audience would look like if brands could find ways to increase their viewership percentage even more! Pointing to one possible area for development, 86% of respondents said that the brand videos they watch on social media networks weren t always relevant to them. This was also one of the key factors given for not making a purchase after watching a brand video, along with the content coming across as too promotional. The impact of such an experience is clear after watching a bad brand video a third of consumers told us they are less likely to watch more content from that brand, and slightly less likely (29%) to either consider becoming a customer or making a purchase. A fifth of the respondents would also discourage others from engaging with the brand causing a knock-on effect beyond the individual viewer. WHEN BRAND VIDEO GOES BAD 33% OF RESPONDENTS are less likely to watch more content from the brand 29% OF RESPONDENTS are less likely to become a customer/make a purchase 20% OF RESPONDENTS would discourage others from engaging with the brand So, with social video offering so much opportunity for marketers, how do they avoid the above pitfalls to ensure they are taking full advantage of it? 2016 Brightcove, Inc. All Rights Reserved. 7

8 THE SCIENCE OF SOCIAL SUCCESS Brands, currently, have six whole hours a week to engage with consumers via social video. Brands need to do more to ensure their videos stand out from the crowd. They need to deliver what consumers want through careful targeting, a tailored approach to each social network, and by paying attention to their audience s ongoing preferences so they can monitor and adapt the video content they serve. DOES IT SOUND COMPLICATED? IT DOESN T NEED TO BE. We ve collected some top industry pointers, by social network, to get your social video strategy started. TWITTER FACEBOOK YOUTUBE Audience type Skews slightly more towards male users More traction with female users More global in nature (88 countries and 76 languages represented) Audience age Relatively young (18-29 year old age range, followed by year old age range) Relatively young (18-29 year old age range, followed by year old age range); it is also the favourite network for the older generations (50-64 year old age range, 65+ year old age range) The older millennial generation (25-34 year old age range) Video length The maximum video length on Twitter is 140 seconds, however industry research has shown that 80% of users will only watch a full video if it's 30 seconds or less Ideally 15 seconds 40% of a Facebook audience will watch until the end of a 1-16 second long Facebook video, but this drops to 18% for videos over 30 seconds Of the most engaging uploads, videos that were between 16 seconds and 2 minutes had 53.8% of all YouTube views 2016 Brightcove, Inc. All Rights Reserved. 8

9 TWITTER FACEBOOK YOUTUBE Content type Very well suited to awareness and engagement, meaning that brand video content that promotes and educates can do well Facebook is overwhelmingly personal and therefore great for engaging brand advocates content should be personal in nature, reflecting a sense of community, using emotion, telling local stories Many of the most popular videos amongst consumers on YouTube are instructional in nature i.e. how-to videos. It is also well suited to longer-form content, presented in playlists Extra Insight Favours native video it drives 2.5 times more replies, 2.8 times more retweets and 1.9 times more favourites than third-party players Facebook video reaches approximately 22% of fans, while an embedded YouTube video reaches only 13% More than half of YouTube views come from mobile devices FOR MORE DETAIL ON THE ABOVE, READ OUR ADVICE ON: Best Practices in Social Video: How to Use YouTube for Business Best Practices in Social Video: How to Use Twitter for Business Best Practices in Social Video: How to Use Facebook Video for Business What This Means As social networks become important destinations for video consumption, the average person is both consuming more social video and making decisions based those videos. The strategy for brands is evolving, but clear: high-quality, tailored and differentiated social video content excites viewers and keeps them coming back for more. Simply put, the opportunity social video presents is immense and will only continue to grow in the coming years. Being a first mover will be a major advantage and should be a core pillar of how all companies interact with their target audiences Brightcove, Inc. All Rights Reserved. 9

10 Getting a handle on the optimum video strategy for each social network is a vital first step. But for brands to truly make the most of the huge opportunity that social video presents, they need to be able to quickly and easily serve, manage and adapt their video content across all social networks, in what is an ever-evolving social landscape. Brightcove Social was developed with exactly this need in mind. Unlike traditional social media marketing management tools, Brightcove Social is configured to deliver a premium video viewing experience across numerous social sites, all managed within a single, easy-to-use platform. For marketing organisations that want to reach social audiences through video content, Brightcove Social allows them to: Manage and publish video content across their websites and to multiple social networks Aggregate video analytics from all destinations where the video is published, including all their social views, in a single location Distribute video natively, optimised for each social network Edit videos and accompanying social posts according to the social network best practices Track multiple edits of a single video-and the location to which they are published. Edit once, publish to multiple locations, all from a single interface For more, visit brightcove.com/en/social RESEARCH METHODOLOGY Vanson Bourne, the research firm that conducted the survey, interviewed 5,500 consumers aged 18 years old and over in the following countries: the UK, France, Germany, US, and Australia (1,000 respondents in the UK, France and Germany, 2,000 in the US, and 500 in Australia). Fieldwork was conducted in September-October ABOUT BRIGHTCOVE Brightcove Inc. (NASDAQ:BCOV) is the leading global provider of powerful cloud solutions for delivering and monetizing video across connected devices. The company offers a full suite of products and services that reduce the cost and complexity associated with publishing, distributing, measuring, and monetizing video across devices. Brightcove has nearly 5,000 customers in over 70 countries that rely on the company s cloud solutions to successfully publish high-quality video experiences to audiences everywhere. To learn more, visit brightcove.com Brightcove, Inc. All Rights Reserved. 10