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Millennials’ spending habits more influenced by video ads

One in five millennials are more likely to purchase a product or service after watching a video advert, a new report has found.

The research, conducted by video production company Groundbreak Productions, which surveyed 1,000 consumers in the UK, also revealed the kinds of video adverts that consumers enjoy.

Some 42 per cent of consumers like video adverts that are informative and ‘to the point’, and 22 per cent would be more likely to make a purchase after watching this kind of video content. More than 30 per cent of people surveyed like video adverts that tell a story, with 29 per cent favouring those that make them feel nostalgic – 12 per cent said that they would potentially buy a product or service after watching one of these adverts.

Perhaps surprisingly, just 8 per cent of consumers like video ads that have one of their favourite celebrities in them, with only 3 per cent more likely to make a purchase after seeing one of these.

However, older generations are less receptive to video adverts. With only 12 per cent of 45-54 year olds, 13 per cent of 55-64 year olds, and 6 per cent of those aged 65 and over said that they would be more likely to purchase a product or service after watching a video advert.

Geoff Brooks, CEO at Groundbreak Productions, said: “This research really highlights the importance of brands carefully considering the way they use video to advertise their products or services to their target market.

“The fact that millennials’ spend is most likely to be influenced by video adverts is good news for those businesses targeting these consumers. However, for those that have different or more varied target markets these statistics shouldn’t be off-putting. Instead of packing in video advertising altogether, the research suggests that to influence consumer spending brands need to create either snappy and ‘to the point’ adverts, or invest in storytelling.

“As marketers increasingly champion digital platforms over print advertising, consumers are being bombarded with more video content than ever. As a result, for brands to get the best return on investment they need to start paying more attention to what consumers actually want from this kind of marketing and adapt their approach accordingly.”

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