Millennials are more likely to buy from businesses using video advertising
Spending habits of those aged 18-34 more influenced by video than older generations. Consumers favour ads that are "informative" and "tell a story"
Businesses looking to target the millennial generation (those aged 18-34) should consider adding video advertising to their marketing strategy if new research from Groundbreak Productions is anything to go by.
Surveying 1,000 UK consumers, the research found that 20% of millennials are more likely to purchase a product or service after watching a video ad compared to 12% of 45-54 year-olds, 13% of 55-64 year olds and 6% of those aged 65 and over.
Of all the consumers surveyed, 22% said they would be more likely to make a purchase after watching a video advert that is informative and ‘to the point' while 30% favour video adverts that tell a story or make them feel nostalgic (29%).
Despite the fact that brands often opt to use celebrities and celebrity endorsements in their video adverts, only 3% of the 1,000 consumers surveyed said they would be more likely to make a purchase if they watched an ad with one of their favourite celebrities in.
The research comes as a number of major retailers launch their Christmas adverts for 2016; Burberry has taken the ‘storytelling' approach while Harrods has created an ad which plays on the nostalgic image of Santa and his reindeer saving the day.
Geoff Brooks, CEO at Groundbreak Productions, commented: “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.”