Why Explainer Videos Is Effective At Increasing Conversion Rates
Long long ago a picture was worth a thousand words, now a movie is worth a billion. It will be surprising to know that, on an average among 220 learners – 100 are visual learners and only the remaining are verbal learners. Of the user community in the West in particular, an average American adult has a reading level similar to that of a 8th grade student. It is important to retain customer attention maximum on the page of advertisement (be it mobile or website) so that their interest convert to sales for the seller. The effectiveness of an online video is at its best when it is able to deliver maximum information in the shortest time. A unique feature to be noted in the online video is that the value proposition it delivers in terms of product marketability should be seen in first ten seconds of its display. The high engage ability factor is important to make it likeable and shareable.
Ever since the influx of mobile communication into people’s life and internet medium at its epitome, explainer videos have been the game changer of businesses. This has been the rule no matter whether it is product selling or service offering. It may be understood that in this article, product also stands for service offering. A product’s success is not generally determined by what its quality or price is these days. It is how well you market it and how quickly people know and understand it over your competitor that their interest turns into a buy decision. When a prospective buyer views product videos, it boosts confidence, engagement they have in your offering and increases chances of purchasing along with subsequent loyalty toward websites. Market reports indicate that buyers who purchased after viewing a video of it are less likely to return or exchange it as it has already influenced the much needed reliability/credibility factor required for the success of the product. It is universally accepted that explainer videos influence conversions or increases it by 20%.
It explicitly holds that videos offer a better connect than text. It goes without saying that explainer videos or the marketing videos are torch bearers of brand promotion in today’s consumer market. It is important that the explainer videos are short, crisp, carry a meaningful story and have an aesthetic appeal about them. The face, voice, emotions and movement are important ingredients that should be present in the online videos. Almost the entire communities of online users prefer to watch video over an image or text to make a buy decision. The attention span of viewers, especially the new-gen consumer population is reducing considerably in the millennial. They do not expect explainer videos to go beyond thirty seconds or a minute. Also explainer videos offer other advantages like overcoming the language barrier and textual complexities. People like it simple and that is precisely what videos should display. The connect it establishes for the product offering with the viewer who is a potential buyer is much higher when compared to what a text can.
A good explainer video should be user device compliant. It may be inserted as email body or signatures, or in social networking sites as banner advertisements, sidebar advertisement with response actions, feedback etc. It may also be posted on video sharing platforms like YouTube, Pinterest, online regional news websites, interest based services sites like travelguru or makemytrip , carrier sites like Jet Airways, Redbus.in etc. Other easily conversion achievable arena where explainer videos can be posted is advertising websites like Askme, Justdial. Merchandise sites and multi brand selling sites like Amazon, bookmyshow etc. are other places videos maybe posted.
A production video created as an explainer with an out of the box story line which breaks conventional ideas, strikes quicker and capture viewer’s attention faster is what is desired the most. Recently Samsung’s customer support video advt. shot in Leh had a good response from viewers. Bots running on comparison websites also push video ads according to user search patterns. This is a useful mechanism to redirect viewer searches and to increase conversions. FM Radio websites have a large fanfare among the online user community these days. Videos posted on such sites like on mirchi.com also add value to increasing conversions for the product it portrays. About 80% of buyer population in most geographical regions have access to internet and are online buyers.
When a voluntary organization tries to gather public support it is very essential that their idea conveyed through explainer videos are motivating enough and people join in as expected and make it a success. ‘Sevenly.org’ is one such which used explainer videos effectively for this purpose and procured $6 million way back in 2011 itself. In 2011 it banked more on the strength of the voice over video and data display. By 2014, it changed its video format to a more interactive format with call to action and “You” as a brand ambassador was marketed.
There are a numerous mobile apps that are being created each hour and released to the app stores. A point to note here is that unless they are publicized well, it will not gain the attention of users who require them or be downloaded in large numbers. ‘Automatic’, ‘Tiles Device App’ are good examples of having utilized videos to promote their idea. Their videos clearly explain its working through premises and situations as if in real life. Hence the user is better able to relate to the app and would be willing to invest in it to utilize its benefits.
Financial solution mobile apps and products make use of the online video mechanism to relay information with regards to usage, risks, advantages and profits. A crisp video relating to numbers and procedures saves time compared to text and attracts more viewers interested to learn about the product. They may eventually turn to be potential customers. They are delighted to obtain the information they want in a capsule than pages and pages of documentation which may be confusing.
Services offering companies use videos effectively to publicize and sell their services. ‘Flazingo’ is one such that used a crisp video in less than 1.5 minutes to sell their HR recruitment service. From these examples above, we understand that effective communication is the key to map in the explainer videos that are created.
Majority consumers of retail merchandise even now prefer in-store buying. Some of the retail products in this category are clothing, footwear, jewellery etc. Their customers like to have a touch and feel of the product quality, color and texture before making the final decision. However this gap can be bridged if a 360 degree 3-dimensional view is provided of the product to a large extent. High quality (resolution formats yet affordable) video formats help in this regard. Zapposa based in Nevada, USA is a site which effectively used explainer videos to increase sales from 6% to 30% for items with video demos on the product sales page. It may be noted that conversion rate improvement due to video is from about 25% for jewelry, 200% for apparel and 225% for accessories. This means that there is marginal change with use of videos for jewelry, about 3% increase for apparels and about 4% increase for accessories. Health and Fitness product companies have benefited quite well from explainer videos as they help create a better impact over competitors if made the right way.
Simply Piste is a ski equipment retailer who saw an increase in conversion rate by 25% by using videos for product demo on their sales pages. Stack And Stacks who are home product retailers reports that shoppers were 144% more likely to make a purchase when they see a product video compared to those who did not. It is effective when it shows the product in action, explain how it works, provide dimension and installation instructions. It adds to the utility appeal required by the potential customer.
Another category of product videos which act as effective conversion enablers are those of software. The installation and usage demos of the software on video remove the apprehension from the minds of the non-technical layman users and help them buy the software. They alleviate the fear of being a non-techie as they see creation/usage in less than three minutes. On an average 20 to 30% traffic increase can be obtained by running the video on the product website and approximately 50% of the viewers watch it fully.
Explainer videos are a good platform to showcase customer testimonials of your product to attract potential buyers. Replicating in-store experience in explainer videos briefly help a great deal. In addition it is also useful for fashion brands. Live Link video where in the hyper link in the video connects the user to the purchase the product is an effective mechanism to increase conversion. It also helps to include a story of the competitors not claiming their inefficiency but describing it from a customer perspective. This provides a hidden authority over your competitor and a marked advantage over them. Hence in the innumerable ways discussed here explainer videos are a very effective marketing tool to enable increased product conversions.
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