Study: Consumption trends for business video

Wibbitz, the AI-powered video creation platform, has released the findings from its latest study, Video For Business: Content Consumption Trends, analysing how and where consumers are motivated to consume video in addition to the type of content they prefer.

In late 2017, Wibbitz surveyed over 1,000 people finding that among various business use cases inclusive of how-to videos, educational or informational videos, product demos, and reviews and testimonials, 51 per cent of viewers prefer how-to videos. The finding underscores a key tenet of content marketing, which is delivering value and actionable information to consumers. This statistic confirms business video as an emerging format for customer communications that can reduce service and support-related activities.

Wibbitz surveyed over 1,000 people on how and where they consume video, as well as the type of content they prefer

Additional insights from the study include data on overall consumption trends that support the importance of businesses creating multiplatform video strategies for 2018 and beyond:

• 65 per cent of respondents engage with videos by sharing, commenting, or liking, with 10 per cent engaging with nearly every video they watch.
• Over 40 per cent of millennial and Generation X respondents listed Facebook as their preferred platform for video content. More than half of millennials ranked Snapchat as their second favourite platform, whereas 30 per cent of Generation X respondents prefer Instagram second to Facebook.
• Mobile devices were the most common platform for consuming video content (31 per cent) over desktop (26 per cent) and streaming devices (25 per cent).
• 38 per cent of respondents prefer short-form videos – defined as under one minute in length –  emphasizing the importance for businesses to create shorter, more engaging videos.

“In the coming years, the majority of Internet traffic will be video, therefore, it’s critical to understand how and where consumers access video, in addition to the types of content they prefer to consume. With this knowledge, businesses are better equipped to consistently deliver beautiful and engaging video content,” said Zohar Dayan, CEO and Co-Founder, Wibbitz. “The data gathered in this report conveys a powerful message that video is the future of online storytelling not just for publishers, but brands as well. It represents a clear choice for brands as they seek to unlock new ways to connect and resonate with consumers.”