Forbes Insights, in association with Google, announced the release of a new study today called, "The Rise of the Digital C-Suite: How Executives Locate and Filter Business Information." The study is of 354 C-level and top executives at major US companies with annual sales in excess of $1B and is designed to shed insight into how these executives discover and share business information. As one would expect, the findings show that clearly the internet is the major source of information above that or network contacts, trade publications, etc...
Textual information is still king, but online video is growing in importance. Almost 1/4th (24%) of those C-level respondents (vs. 16% non-C-suite) indicated a preference for retrieving business information via video. So, do you want to graduate from a mere top level executive to a C-suite executive? Its simple, watch more online video ;-)
The Generational Split
The amount of influence that online video offers definitely depends on the age and work experience of the executive. When asked how frequently they view business videos, 1/3 (33%) of those under the age of 50 stated that they view work-related videos daily; compared to a little more than 1/10th (11%) of those over 50 yrs.
Additionally, more executives under the age of 50 visit YouTube directly for this information. Nearly a quarter (23%) responded that they visit Youtube daily for work-related videos while only 5% of those over 50 do. That certainly matches what we've seen with regard to demographics for Youtube.
What does this all Mean?
It means that we really are in the middle of an online video explosion and an information revolution (as if we needed more evidence). Video is changing the way that consumers as well as top level executives access and share information. This affects the political climate, purchasing decisions, and so much more. And, as newer generations continue to move up in the business world, online video will only become more widespread as a prominent source of information. As we've all seen, many companies are working hard to deliver high value B2C and B2B video content.
In the report, Rob Shaddock Chief Technology Officer for Tyco electronics, mentions that video is also helpful when the goal is to reach a global audience.
"The lingua franca may be English," says Shaddock. "But when you're dealing with complex concepts, it's sometimes better to stop talking and just use a video. It's very much a picture being worth a thousand words.”
Of course, we all know that video is actually worth millions of words, 20 Million to be exact :-)
You can register for and download your copy of the report here. It is definitely worth reading and goes into much more than just online video.