Isn't it exciting to be involved in the online video space when it is so obvious that the power of online video to drive action both online and offline is going to forge a bright future for the medium? Here is just another example of the power of online video in a niche industry – The Bling Bling industry.
According to results from the Fall 2008 Ad-ology Media Influence on Consumer Choice survey, online video was cited by many consumers (20% of all males surveyed) as a significant influence in their recent purchases of jewelry and watches.
"Online video is fast becoming an increasingly popular advertising vehicle, especially for marketers of style products," said C. Lee Smith, president and CEO of Ad-ology Research. "Many videos found online for watches resemble mini-movies more than commercials. Our study finds that for one in five male jewelry/watch buyers 18 to 24, online video does more than entertain, it impacts what they buy or where they buy it.
Additionally, Lee Smith, president and CEO of Ad-ology Research recommends that jewelry and watch marketers utilize pre-roll video advertising.
"Pre-roll video advertising on other Web sites may also be an effective option for jewelry/watch marketers."
Other key findings from the survey:
- 50.9 percent of U.S. adults 25-34 say they bought jewelry or a watch recently.
- Nearly 84 percent of consumers prefer to buy jewelry/watches in a store as opposed to online.
- The store experience is important: 63.5 percent rate store reputation and 65.9 percent rate the sales staff as important factors in their purchases.
- 47.9 percent of recent jewelry/watch purchasers were influenced by information or advertising from newspapers. Magazines, television, and direct mail were also among the most influential traditional media.
- More than 20 percent of respondents consider cause and/or charity support by a manufacturer or store to be somewhat or very important. That number goes up to 25 percent for African-American consumers.
About the Study:
The Media Influence on Consumer Choice survey is conducted quarterly by Ad-ology Research to study on- and off-line media influence on buying decisions.
The survey asks a national consumer panel about key factors in their buying decisions. Respondents also rate nine types of online and seven types of traditional media in regards to how each influenced what they buy and where they buy it.
The full report covering "Media Influence on Consumer Choice: Jewelry & Watches" is available through Ad-ology and can be purchased online at http://www.ad-ology.net. The 60-page downloadable report is $495 and features 27 data charts, consumer-spending estimates on jewelry and watch purchases, and additional marketing insights.
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