Online video valued as most trusted source of informationby
There are currently 1 billion YouTube users watching 4 billion videos every single day. 6 billion hours of video are consumed across all video sites every month.
It goes without saying that video clearly has a huge influence on people’s lives, but a new study shows just how much trust people in the UK, in particular, now place in products and services featured on video platforms.
Results from the annual Online Video Barometer, which is conducted by BuzzMyVideos and OnePoll, shows that 52% of consumers now value online video as the most trusted source of information over any other medium, with magazine reviews ranked second by 23%, followed by TV with 14% and radio 2%.
What’s more surprising is how much people value consumer reviews on YouTube. 93% of respondents have “positive feelings towards any products or services featured in a video”, while 89% are more likely to buy after seeing a good review on the site.
Nearly half of respondents would be more likely to investigate a product, brand or service seen in a video, with 59% of 35-45 year olds surveyed saying they are either neutral or more likely to investigate what they have seen.
BuzzMyVideos also found that 52% of the people they surveyed use digital video to figure out how to complete a task, with the assumption being that YouTube will not be misleading.
“The UK is a nation with a huge appetite for online video with usage growing fast among all ages, demographics and locations,” says Paola Marinone, CO Founder & CEO of the London based network BuzzMyVideos. “Public perception of online video has evolved alongside a maturing market.
“Our Online Video Barometer has revealed an incredible level of trust in YouTubers both as entertainers and influencers among the general public. This credibility marks a clear cultural shift and one which brands in all sectors need to very quickly switch on to.
“Those who innovate in this area with creative strategies to involve YouTubers will very quickly reap the rewards as a result. 2015 looks set to be a game changing year for the industry.”
With Cisco research indicating that video is expected to account for 69% of all web traffic by 2017, marketers are putting video high on the agenda in 2015.
However, how brands approach the audience experience is something that a recent study from slp consulting found to be in need of much improvement.
It found that companies could potentially enhance their audience’s experience through simple steps such as:
- Enhancing how they use meta-data with their videos;
- Making more use of interactive features;
- Taking a more programmatic approach.
Chris was an Editor at MyCustomer from 2014 to 2022. He is a practiced editor, having worked as a copywriter for creative agency, Stranger Collective from 2009 to 2011 and subsequently as a journalist covering technology, marketing and customer service from 2011-2014 as editor of Business Cloud News.