The Impact of Video Marketing on Consumer Attitudes and Purchase Intentions with the Moderating Role of Advertisement Duration: Evidence from the Insurance Industry

Document Type : Original Article

Authors

1 Professor, Department of Business Management, Faculty of Economics, Management & Administrative Sciences, Semnan University, Semnan, Iran

2 Master of MBA-Marketing, Faculty of Economics, Management & Administrative Sciences, Semnan University, Semnan, Iran

3 Assistant Professor of Business Management, Faculty of Literature & Humanities, University of Birjand, Birjand, Iran

Abstract

Aim and introduction: Videos are usually more effective than text or image content in attracting people's attention due to their visual appeal and high ability to convey information. However, empirical research in this field, especially in the insurance industry, is limited. Despite the significant growth of video marketing globally, empirical evidence on its impact on consumer purchase intention in intangible service industries, especially the insurance industry, remains limited. While the use of social networks and promotional videos is rapidly expanding in Iran, domestic research has mainly focused on consumer industries, and empirical investigation of the role of video marketing on attitude and purchase intention in the insurance industry, which requires high trust and explanation of complex concepts, has not been considered, and local research in the Iranian context is still limited, while extensive international evidence shows that video marketing on social media can increase purchase intention, brand engagement, and consumer trust. Accordingly, the present study was conducted to investigate the effect of video marketing on consumers' purchase intention.
Methodology: The paradigm of this research is positivism. The research orientation is applied and has a deductive approach. In this research, due to the quantitative nature, field methods were used to collect data. In this research, a correlation-survey strategy was used to analyze the data. In terms of the purpose of this research, it is explanatory and in terms of nature, it is descriptive. The statistical population includes active users of social networks in Semnan with at least a diploma to have a proper understanding of the research variables. Due to the lack of access to accurate statistics on the total number of users, the statistical population was considered unlimited. The sample size was determined using the Cochran method and assuming a 95% confidence level, a 5% sampling error, and p = q = 0.5 values, equal to 384 people. Sampling was carried out using the convenience method to provide access to eligible individuals and the possibility of their participation. Data collection was carried out through field studies by designing a questionnaire. Data analysis was performed using structural equation modeling based on partial least squares.
Finding: The findings of this study indicate that video advertising has a direct and significant positive effect on consumer purchase intention and attitude, and consumer attitude plays an important mediating role in strengthening this relationship. However, video duration does not have a significant moderating effect on the relationship between video advertising and consumer attitude. The results of this study can help insurance companies design video marketing strategies and improve customer purchase intention, and provide a foundation for future studies in the field of digital marketing and consumer behavior.
Discussion and Coclusion: According to the results of this study, visually appealing and effectively conveying information video content attracts consumers' attention and increases brand awareness, and can arouse the audience's emotions and strengthen their trust and loyalty. By presenting dynamic and attractive images, effectively conveying information, and creating emotional motivations, advertising videos can help form positive customer perceptions of insurance products, goods, and services and increase customer trust. This type of advertising also promotes brand recognition and awareness of insurance services, and increases interaction with audiences. A consumer's positive or negative attitude toward video advertising can directly affect their purchase decision and has a significant mediating effect on purchase intention. Given that video duration does not play a significant moderating role in the relationship between video advertising and customer attitude, it is suggested that instead of focusing on duration, advertising content with attractive characters should be produced in line with the current concerns of adolescents and young people. For example, virtual celebrities can be used in advertising to use them as focus groups that have large followings. In general, it is suggested that in video advertising in the insurance industry, it is better to showcase real achievements in advertising. This can increase customer trust in services in the insurance industry. Insurance companies should also use graphics and visually appealing cartoons to explain difficult and complex concepts in a simple and understandable way for the customer. Visual aids can increase viewer engagement and retention of programs. Insurance companies can also use storytelling techniques in advertising as well as educational marketing techniques to change customers' attitudes about life and home fire insurance, so that they can explain the importance of having insurance for people in the form of video advertisements. It is recommended that platforms that have a larger audience today, such as Instagram and YouTube, produce and publish content that is appropriate for the age of the audience and new generations.

Keywords

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Commercial Strategies
Volume 21, Issue 23
August 2024
Pages 263-289

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