People are more likely to respond to visuals than text, and some studies suggest that consumers prefer to consume information through video rather than written content. One study even found that using video on a landing page can increase conversions by up to 86%. With the ever-growing number of business emails sent every day (128.8 billion), it's no wonder that we spend a third of our time at work reading them. On YouTube alone, people watch 1 billion hours of video every day - that's equivalent to more than 114,000 years of video! And with 5G wireless connections about to revolutionize data transmission and transfer rates, video will become even more important.
But how can you make digital ads even more effective? Landing pages are usually the best for those in the product recognition phase of the funnel, but they can also be used to subscribe to webinars, download e-books or white papers, etc. In one case study, the video variant saw a 12% increase in conversions and an 8% increase in revenue. After this success, the team wanted to see if they could double it with product pages. Product video marketing can be both inspiring and backfiring - as was the case with Dove's “Campaign for Real Beauty” campaign which saw real women go through a process of total transformation (both digitally and cosmetically).
People start out with a lot of interest and even watch sections of the video again (in red), but as time goes on, viewers start to decrease halfway and end up with far fewer viewers than in the first half of the video. Well-crafted video content, combined with a good video marketing strategy, can increase conversion rates by up to 80 percent. But what types of videos should you create? What types of videos work best at what stages of the marketing funnel? Throughout this post, I'll share some examples of how TechSmith has successfully used videos in a variety of ways to increase conversion rates. Wistia offers a feature called Turnstile which allows you to insert a lead capture form anywhere in the video - either blocking the content completely or allowing viewers to submit their emails in exchange for future content from your company. Video now appears in 70% of the top 100 search results lists and viewers are up to 85% more likely to buy a product after watching a product video.
To optimize the video conversion rate, it's important to create content that your audience wants. A good product video helps answer questions that the user has not yet asked and which may be preventing them from converting. Viewers are generally willing to complete registration forms in exchange for accessing videos or future content - especially if the video has an engaging introduction. In the future, it is expected that there will be more focus on customizing online videos - such as what video technology company Eyeview has created for its customers. Considering that video now appears in 70% of the top 100 search results lists and that viewers are 64-85% more likely to buy after watching a product video, this is an invaluable marketing tool. A study reported that visitors were 144% more likely to buy after watching a product video than those who didn't see it. You have the option of using this feature to fully control your video content or offering it as an option for viewers who want to receive updates from your company.
Videos can be both informative and entertaining - which is why they have easily surpassed other forms of content in terms of user consumption.
