Forbes Insights, in association with Google, surveyed more than 300 C-level and senior executives at large U.S. companies ($500 million-plus in annual revenues) to learn more about how they are approaching Web video as a source of business-related information. The results are both surprising and important for anyone who’s job it is to communicate with and influence senior executives in any sized company.
The graphic above (created by eMarketer) illustrates post video-viewing intent. Clearly video’s influence is growing and will only continue to grow in the coming years. The following is a summary of some of the findings of the Forbes/Google research:
1. In some cases executives prefer video to text. When asked “If video and text covering the same topic are on the same Web page, which would you watch first,” 59% chose video and 37% chose text.
2. The top 3 objectives when watching business-related YouTube videos are: 1. Testimonials (29%), 2. Product demonstrations (28%) and 3. Product reviews (29%).
3. Video is social. 54% of senior executives share work related videos with colleagues at least once a week.
4. “Longer” videos are preferred. Conventional wisdom (it is usually neither…) has it that 2 minutes is the “absolute limit” for business related video. When asked, 47% of executives preferred a length of 3-5 minutes, followed by 36% preferring 1-3 minutes and 9% preferring over five minutes.
5. Video causes executive to take action. Overall, 65% have visited a vendor’s website after watching a video. Younger executives, however, may be more fully engaged with this type of media, and appear more likely to make a purchase, call a vendor, or respond to an ad.
Forbes summarizes these trends well – “While the Web itself is in the midst of a video makeover, executives are transforming their habits to be more open to video—the non-text Web—as a highly reliable and trusted source for gathering and filtering business information.”