Brand and product videos have been one of the best ways to engage consumers—particularly younger generations—for years. And that hasn’t changed—but the sophistication and interactivity expectations certainly have. It’s time for brands to take it up a notch with their video technology and outreach, according to new research from next-gen video platform Idomoo.
The firm’s new State of Video Technology report, based on its survey of more than 2,000 adults in the US and UK conducted by Atomik Research, found that more than 8 out of 10 consumers want brands who communicate with them to use video more, but 7 out of 10 rarely or never get it.
The study also shows rising interest in advanced video communications compared to last year’s survey—a trend most noticeable among younger and more affluent consumers, early adopters who are the most eager for this type of content from brands.
“Last year, we found an alarming gap between consumer demand for video and what brands deliver, and that trend continues this year,” said Yotam Benami, Idomoo CMO, in a news release. “But people don’t just want video—they’re actively seeking innovative video formats including personalized and interactive video and even AI video. Interestingly, this preference is again strongest among high-value early adopter segments such as Gen Z and high earners.”
Key findings:
There’s a video gap in brand communications
More than 4 in 5 (81 percent) consumers want more video from brands, but 70 percent rarely or never receive any. While this video demand gap is lessening—74 percent of consumers last year said they rarely or never receive videos from brands—it’s still a huge missed opportunity.
Personalized video massively outperforms generic video, driving increased adoption
Interacting with customers via video is nearly 4x more likely to increase loyalty and brand trust, the same uplift reported in 2022. This effectiveness is likely leading to higher adoption, with 25 percent of consumers having received a personalized video this year, compared with only 17 percent last year.
Interactive video is now mainstream
Interest in video with interactivity is higher than last year—almost 8 out of 10 consumers now say they want interactive video content from brands.
Younger consumers and high earners respond to video innovation
These two demographics, identified in last year’s study as early adopters, want advanced video the most. About 9 in 10 (89 percent) of these sectors want brands to use video more, and 88 percent want these videos to be more interactive.
The study also showed that the U.K. market lags behind the U.S. in both adoption and interest in advanced video comms. For example, 29 percent of Americans have received a personalized video, while only 22 percent of their U.K. counterparts have. In addition, 83 percent of U.S. respondents were interested in interactive video, compared to only 76 percent of their U.K. peers.
Download the full report here.
This market study was commissioned by Idomoo and conducted by Atomik Research in April 2023.
