Updated: Jul 15
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Video marketing is no longer the next big thing ... it is now heavily entrenched in the majority of businesses looking to grow their business. The use of video was already on the increase but the global pandemic accelerated the use of this communication medium.
A few key insights ...
Video continues to be used by an overwhelming majority of businesses.
86% of businesses use video as a marketing tool.
There are many ways to use video but the most popular application is for explainer videos. The need to quickly and easily explain a product or service without the ability to discuss face to face was one of the results of the lockdowns and the restriction of public events like exhibitions.
74% of videos made are explainer videos.
Typically the explainer video is used in the pre-purchase phase and will help the buyer understand the product and service and will then convert them into sales.
96% of people have watched an explainer video to learn more about a new product or service. And 88% of people have been convinced to buy a product or service after watching an explainer video!
86% of marketers say video has helped them generate leads.
Although a video is a powerful communication tool, to convert viewers into customers you need to have developed a marketing strategy to best maximise the conversion of your investment into video. A stand-alone video will rarely instantly turn into a sale. The video whether it be an advert, explainer video, or company overview video it should be used as part of a customer journey.
Below is the average customer journey. Each phase requires different information and therefore video content to assist the customer through this journey.
The awareness phase would require a strong hook to capture the attention of a customer who has never heard of your business, a short snappy message that speaks to your potential customers requirements then finally a clear call to action to take the customer to the next phase.
The consideration phase, this will hopefully mean your customer has now visited your website. The use of videos here could be a website video banner, these have proven to have increased the dwell rate on websites positively impacting the websites SEO score. In addition once landing on a webpage, video is the preferred method of consuming information about your product or service
For more information on creating a high converting video advert, download our Video Advert blueprint - HERE
78% of customers said they would prefer to learn about a product or service with a video rather than text. (Optinmonster)
A well made clear video used in your consideration phase should answer the questions of your potential customer and hopefully break down any objections they may have. The most powerful video type for this consideration phase is the testimonial video. If a customer can see and hear someone’s honest feedback this is found to greatly increase your chances of converting into sales.
A survey by vocalvideo.com found that 72% of marketers yield a return on investment (ROI) of between 50% and 500% from video testimonials with over half see an increase in conversions of +25% compared to campaigns without testimonial videos.
If you would like to explore how video could work for your business, we'd like to chat to you. Follow the links on our CONTACT page and get in touch. And don't forget to grab a FREE download of our e-book video guide - HERE