There is no doubt that video has become a powerful tool for business. Any business that wants to create a successful online marketing strategy needs to consider how video can play a role. Recent research from online video platform Brightcove shows that 46 percent of consumers have made a purchase after watching and being influenced by a video. Another 32 percent have considered making a purchase after watching a branded video.

Brightcove’s survey also revealed that 43 percent of the 81 percent of people who interact with brands on social media have done so through a video, and 79 percent of people even think that a video is the easiest way to learn more about a brand online. Nearly a third (31 percent) say that video is their first choice of branded content on social platforms.

The survey of more than 5,000 people across the UK, Germany, France, the US and Australia also showed an increase in social video consumption. 67 percent of respondents said that they watched more video on social networks than they had a year ago. 60 percent also said that they expected to watch even more social video over the next year. Consumers watched an average of 49 minutes of video each day, with half of it watched on YouTube and more than a third on Facebook.

Another, more recent, survey by Brightcove shows that video content influences Millennial consumers in particular. 53 percent of all consumers surveyed and 66 percent of Millennials reported engaging with a brand after viewing a video on social media. The actions they took included visiting the brand’s website (20 percent) and conducting further research (20 percent). Another important statistic to note from this survey is that 45 percent of consumers overall and 57 percent of Millennials felt that a specific call to action in a video was useful.

Brands should consider having a call to action in their video to encourage consumers to take the next step. 35 percent of all consumers and 41 percent of Millennials want videos to have links at the end to tell them where they can find out more. Direct links to purchase a product are also helpful, with 30 percent of Millennials saying they want direct access to where they can purchase a product.

The growth of video as a marketing tool is only going to continue. If you are looking for current and innovative ways to engage with consumers and encourage them to make a purchase, using video is an excellent choice. The fact that Millennials are more interested in video and engage with it more shows that it’s more important for reaching younger generations. If your brand wants to target an audience whose habits and tastes are changing, you need to stay up to date with the most effective ways to engage with them.

Branded videos are a key tool for brands that want to use effective digital marketing tactics. Video is becoming more and more important and shouldn’t be ignored.