12 Dec 2018

The power of video

videoblogpost

When it comes to inspiring actionable insight, video is the most engaging and convincing platform.

Hands down, video takes the win for the ultimate storytelling medium. And it’s only becoming more popular, and more powerful. More than 500 million hours of videos are consumed on YouTube each day, and nearly half of people watch over an hour of video on Facebook or YouTube every week.

If you’re looking for another wild statistic, more video content has been uploaded online within the past 30 days than the major US TV networks have produced within the past 30 years.

No surprise then that marketers are very receptive of this explosion in video. They recognize the pure power of its engagement. Globally, over half of marketers claim that video produces the best ROI compared to other types of content, and social video generates 12000% more shares than text and images combined.

So it’s clear that we need to be taking full advantage of this powerful medium in our world of qual. Video has improved the traditional and valuable ‘go to’ methods of qualitative research, such as focus groups and in-depth interviews. High quality, 360° cameras capture the genuine emotions and reactions from participants in focus groups and in-depth interviews. Live streaming in HD even allows stakeholders to clearly view the research as it is taking place, from anywhere in the world. This is a big benefit to qualitative research as it involves the entire team, without the costs of travel and time.

Once analyzed and formatted to share as a deliverable, video provides the best platform for telling stories about the data, to truly engage stakeholders and power real action to make informative business decisions. But the big concern for many qualitative researchers, is the scale and intricacy of the data that video can produce. This video output needs to be analysed fast, and at scale, in order to find the story among the data. Fortunately, the technology behind video analytics and transcription services is able to translate the genuine human behavior portrayed in video into actionable insight, with speech, actions, and sentiment. Video analytics platforms extract the information relevant to the study objectives. Then algorithms analyze the content to structure the data so that it becomes quick and easy to search through. This suite of collaborative tools helps to identify keywords and themes through sound, sight and text, and help the researcher to find the story. It’s also easy to clip key videos and consumer quotes to share the story with the stakeholders.

Video research has been powering a range of methodologies in both qualitative and quantitative research, from ethnography, to ad testing, to product innovation focus groups and customer experience surveys. Brands can use video to collect customer feedback from the start of the ideation process, and they can carry it through into the testing stage. That way brands can understand how real customers will react to the new concept or product before it is launched. Since videos are able to achieve up to six times the insight compared to a free text question, video insight allows brands to quickly separate the successful innovations from the failures.

The technology backing video analytics and transcription services provided by L&E and its partners, such as LivingLens and Focus Forward, can put the stakeholders in the room with their consumers so they can truly understand their needs. In turn, video insight engages stakeholders in a way that powers insight to drive business decisions.

Topics: Qualitative Research, Market Research, Video Analytics, Video, Storytelling, Transcription

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