A survey of 2,009 adults in the U.S. and U.K. found that more than 8 out of 10 consumers want brands who communicate with them to use video more, but 7 out of 10 rarely or never get it.
The State of Video Technology report released today also shows rising interest in advanced video communications compared to last year’s survey. This trend is most noticeable among younger and more affluent consumers, early adopters who are the most eager for this type of content from brands.
Key findings:
- There’s a video gap in brand communications: 81% of people want more video from brands, but 70% rarely or never get it. While this video demand gap is lessening (74% of consumers last year said they rarely or never get video), it’s still a huge missed opportunity.
- Personalized video massively outperforms generic video, driving increased adoption: It’s nearly 4x more likely to increase loyalty and brand trust, the same uplift reported in 2022. This effectiveness is likely leading to higher adoption, with 25% of consumers having received a personalized video this year compared with only 17% last year.
- Interactive video is now mainstream: Interest in video with interactivity is higher than last year. Almost 8 out of 10 consumers now say they want interactive video content from brands.
- Younger consumers and high earners respond to video innovation: These two demographics, identified in last year’s study as early adopters, want advanced video the most. 89% want brands to use video more, and 88% want interactive video from brands.
“Last year, we found an alarming gap between consumer demand for video and what brands deliver, and that trend continues this year,” said Yotam Benami, Idomoo CMO. “But people don’t just want video. They’re actively seeking innovative video formats including personalized and interactive video and even AI video. Interestingly, this preference is again strongest among high-value early adopter segments such as Gen Z and high earners.”
The study also showed that the U.K. market lags behind the U.S. in both adoption and interest in advanced video comms. For example, 29% of Americans have received a personalized video while only 22% of their U.K. counterparts have, and 83% of U.S. respondents were interested in interactive video, compared to only 76% of their U.K. peers.
For more findings, download the full State of Video Technology report. This market study was commissioned by Idomoo and conducted by Atomik Research in April 2023.
Tune in to MTC Podcast for visionary Martech Trends.