As a business, leads are one of your most valuable assets. Every lead that comes in the door represents money spent and hard work put in to get them there.
Whether it was pay-per-click advertising, referrals, SEO, direct marketing, or some other avenue, visitors don't show up by accident, you paid money to bring them in.
But how does video fit into this picture?
As you may already know, there are 8 steps to earning and converting a sale:
- Need Assessment
- Meeting Objections
- Gaining Commitment
While you have processes in place for each and every one, video is an extremely effective tool for Prospecting, Presentation, Meeting Objections, and Gaining Commitment. Read on to see how video will enhance your process each step of the way.
Video for Prospecting
Video can bring leads to your website and when you include video on your website, you boost your ranking on search engines. In a study by Attivio, websites that added video attracted 3 times as many visitors to the video pages, with the website as a whole receiving 157% more organic traffic from search engines.
You can promote your business through video on social media sites like Facebook and YouTube, and if you're smart or lucky enough to have a video go "viral", you can attract thousands or even millions of visitors to your site.
- Remember: The best videos for prospecting are short, simple, and highly informative. "How-To" videos are very popular, as is anything that makes people laugh. To hold your customers' attention, keep your video to 90 seconds or less.
Video for Presentation
Video is the ideal format to introduce your business and products/services. Many websites are altering their format so their homepage is a simple "explainer video", detailing who they are and what they offer. When Dropbox switched to a video-based homepage, their conversion rates increased by 10%.
Related: Include videos in your email marketing efforts with a professional
In a study by the Institute of Education and Technology, subjects retained over 50% more information when they watched a video vs. reading text.
- If you want your visitors to understand your message, use a short, clear, and simple video.
Video to Meet Objections
Though e-retail is becoming increasingly common, some people are still leery to buy products and services online. The more comfortable and well informed you can make your customer feel, the more likely they are to buy.
In a survey by Internet Retailer, 52% of respondents said that watching product videos makes them feel more confident in their online purchase decisions.
Video to Gain Commitment
The most important part of the sales process is sealing the deal. Does video actually convince your customers to buy?
Absolutely. However, the statistical data varies - Comscore claims that customers are 64-85% more likely to make a purchase after watching a product video, while Retail Touchpoints claims that video increases conversion rates by a whopping 174%. Regardless of the exact percentage, study after study shows that customers who watch video are more likely to buy. It's as simple as that.
- To increase your conversion percentages, your videos should be professionally produced. Comscore asserts that professional videos outperform user-generated videos by 30% on retail websites.
Don't let your valuable leads go to waste. Use video in your marketing efforts, on your homepage, and on all your product pages. This will ensure that your web traffic, retention, and conversion rates all reap the benefits of video.