Two-thirds of SMBs create marketing videos at least 4 times a year, says Magisto [pdf] in releasing results from a survey of 565 SMBs. The most popular type of video is the how-to/education video, cited by half of respondents to the survey, with product service/overview (43%) videos the next-most commonly used.
Close behind, almost 4 in 10 say they use brand storytelling videos, while other types such as virtual tours, customer testimonials and event promotion/recap are less common.
In looking at the use of video by SMBs (note: Magisto provides online video editing software), the company argues that Millennials are driving a shift in the media mix. The results are interesting, though curiously dismissive of Baby Boomers (the report states that “Millennials know how to find audiences for their story”, while “Baby Boomers hope to find an audience”. Emphasis not added.)
For example, the report contrasts the 9 in 10 Millennials at SMBs who “lead with social media in their marketing strategy” with the roughly 8 in 10 Baby Boomers who lead with traditional word-of-mouth. While this is presented as the “younger generation shak[ing] up traditional marketing,” word-of-mouth has proven over and over again to be the most influential form of marketing, including by Millennials themselves.
Additionally, while the “younger generation embraces authenticity over traditional sales” due to Millennials commonly using branded lifestyle video stories and Boomers leading with traditional product overview videos, there’s also evidence that informational videos have a strong impact on purchase likelihood.
Then again, perhaps there’s something that all generations can agree on: how-to videos appeal to consumers.
About the Data: Magisto describes its methodology as follows:
“Magisto surveyed 565 U.S. small and medium businesses on whether or not video creation is part of their current marketing strategy as well as how videos are being used and distributed. This survey was completed online and responses were random, voluntary and completely anonymous.”
