We recently ran across this Forbes/Google report which highlights ways that online video has invaded the C-Suite. The key findings in the report included:
- Video is becoming a critical information source for senior executives. More than 80% said they are watching more online video today than they were a year ago.
- Senior executives are also turning to video more frequently. Three-quarters (75%) of executives surveyed said they watch work-related videos on business-related websites at least weekly; more than half (52%) watch work-related videos on YouTube at least weekly.
- Work-related video can drive senior executives 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.
- Executives can be receptive to video advertising. Overall, executives notice ads that run alongside videos, and many are comfortable watching in-stream ads. Video-friendly younger executives are more comfortable with these ad formats.
- The social element of online video is strong in the executive suite. More than half of senior executives share videos with colleagues at least weekly, and receive work-related videos as often. Younger executives appear very willing to share and view videos using social media.
While much of the focus of the online video conversation centers around the consumer-facing end, this trend is one that should be encouraging for the B2B community. Additionally, it means that more and more executives in companies with significant TV budgets are using and understanding the value of online video. Perhaps this will accelerate the growth in budgets that are desperately needed to see the needed growth (and growing up) in the industry. The scale and sophistication differential is still heavily weighted for TV-based video, but trends like these bode well for the futures of all those working to grow the space.