66% of Automotive Shoppers Use Online Video to Help Make Decisions
You may not be surprised to find this out, but as technology grows, people are becoming better shoppers. We have Yelp, YouTube reviews, and Facebook recommendations to help us pick smart and pick cheap. Technology is helping define how and where we shop — especially video technology.
New research from video ad solutions provider Tremor Video says that video content plays a massive role in a shopper’s overall process. According to the multi-stage study, which included a survey of 900 adults who watched online video one or more times a week, 66% of automotive shoppers specifically stated that online video was important in their shopping experience.
Of those surveyed, 46% also said that digital video ads across all platforms are equally as important in the “discovery phase” as traditional TV commercials. Video ads ranked just below visiting a dealership in terms of how consumers formed opinions and made final decisions.
Ryan Van Fleet, director of insight and analytics at Tremor Video, explained that with the influx of digital video, auto brands must realize the importance of moving beyond “text and image” advertising. As video advertising becomes more complex, brands are able to engage with potential consumers in ways that, according to Van Fleet, “bring the emotion out.”
With manufactures racing to tap into the video market, the concept of brand loyalty is steadily shrinking. No matter how loyal a consumer is, competitors’ video ads can showcase new and innovative products on every possible screen. For a brand unwilling to shift to online ads, the competition could be significantly one-sided.Tags: E-Commerce, Online Video Advertising, Product Integration, Tremor Video