More influential than text or other formats
Nine of 10 social network users are influenced to make a purchase after seeing content on social media. And video has the greatest influence of all content types.
The study by gen.video and Geometry Global, conducted in March and April 2017, assessed the impact of influencer marketing and social media on purchase behavior among more than 1,000 consumers.
Some 86% of internet users polled were swayed by video to purchase a product. Text proved to have about half the power of video, with only 44% of respondents inspired to purchase a product after reading.
Compared with other formats, video was almost twice as effective at driving sales across categories including electronics, fashion, food/beverage, health and beauty, and travel, and especially at retailers Amazon and Walmart, according to the study.
"Influencer marketing and video content are playing a growing role in shopper marketing and retail," said Tish Vallés, executive vice president and head of strategy at Geometry Global.
Advertisers are looking to be in the mix. According to an April 2017 study from cloud-based video creation company Animoto, a majority of US marketers plan to increase spending on video ads on various social media platforms over the next year.
Jay & Julia Taylor own and operate Caney Creek Studio. Caney Creek Studio is a video production, digital marketing, and social media management agency.