How Can Video Marketing Improve Conversion Rates?
If you’re wondering how to improve conversion rates through video marketing, this article will cover 5 key components to video marketing that converts!
Improving conversion rates is one of the main problems that exist in both small and big businesses today. Running a business is never an easy journey to take. There are a LOT of struggles along the way, especially when there are a thousand different distractions keeping you from achieving your goals.
People are always in a hurry. Time can be very limited. But, worrying will never change the outcome.
So instead of doing nothing, do something that will actually get you closer to your goal. Since we are talking about business, we are here to help you understand how can video marketing improve conversion rates.
E-commerce: Doing Business Online
Business owners understand that getting an online presence is good for their business. Online technology and social networks have become so ingrained in our everyday lives that most of us couldn’t even go one day without checking our mobile phones. When it comes to buying activities, statistics show that 85% of the world’s population is shopping online. These statistics explain why so many corporations pay millions just to bolster their Internet presence. However, to actually boost your online visibility, you do NOT have shell out a lot of money. All you need is a great product video.
A Powerful Marketing Tool
For today’s businesses, video marketing has so many benefits to offer. Video marketing is quickly becoming one of the most effective additions to any business marketing toolbox. One of the best things about video marketing compared to other online marketing strategies is that it can be very cost effective. Many eCommerce marketers are using video with little to no budget and dominating both YouTube and Google search with video content that converts! All you need is the right video to invest in.
Videos can make some serious money for your online business. Adding a product video to your landing page can increase conversions by 80%.
If you feel that you don’t have enough resources to create video content as part of your marketing, there’s no need to worry. Read the rest of this post to reveal more interesting and helpful video marketing facts.
Business Conversion Rates
Getting the Right Formula
Having a good conversion rate is the foundation of a business or a corporation’s high sales volume. Therefore, it is absolutely crucial to increase your conversion rates. Unfortunately, it is never easy to master conversion optimization. Even having a complete grasp of understanding the science behind conversion analytics; putting all the pieces together to get your landing pages converting at a higher rate isn’t always easy. Many entrepreneurs get discouraged after trying a bit, and are left wondering how can video marketing help improve my conversion rate? Don’t fret, I’m going to give you the right formula so that you can increase your business’s conversion rate right now.
How can video marketing improve conversion rates? Let’s start with these clear and easy to follow steps:
How Can Video Marketing Improve Conversion Rates? Here are 5 Amazing Ways
Powerful Compelling Introduction
A video can and should convey the appropriate emotion. With video, you’re telling a story that you’re audience can identify and connect with. The biggest hurdle is getting your audience to engage long enough to deliver that story and that is where creating a compelling video introduction comes into play. Creating a powerful and compelling video introduction is the same process you would use for creating a compelling article intro. First, you need to capture the viewers’ attention. Two of the most effective ways to do this are;
• Ask the viewer a question.
• Use a shocking quote to grab them.
Insert a Lead Capture
A lead capture is an easy way to collect leads for your promotions. Using a lead capture form in your video is a proven way to engage viewers while capturing a lead. Inserting a ‘Lead Capture Form’ in the first 10%-20% of your video is going to bring you more leads that can potentially become actual sales.
Not all people know that you can insert a lead capture into a video. You can do this by using a simple feature in Wistia called Turnstile. Turnstile allows you to insert a lead capture from anywhere in your video. You can also set it to completely gate your video content or just make it optional for viewers to submit their emails.
Wistia recently published a study that state; “Videos with turnstiles have 38%-43% increase in their conversion rates.” That’s huge.
Short, Concise and Entertaining
Viewers easily lose interest over boring and lengthy videos. When they stop viewing your video, it means an opportunity has been wasted. Therefore, you have to make sure that you create a short but very concise product or marketing video. You don’t have a lot of time but, be sure to provide the answers your audience needs.
In your video, you have to present the problem and the solution. There is nothing wrong with selling your products or services, but use your video to define a problem, discuss solutions and support others—when you combine the three, your video will attract the right following.
Ultimately, your video shouldn’t get too deep into the details of your product or service, but it should touch on your audience’s pain points, give a sense of the brand and its values, and illustrate the effectiveness of what your offering.
Use the Right Video Hosting Platform
A popular video can reach millions of people worldwide in a very short period of time. This is obviously one of the biggest benefits to video marketing, but choosing the right video hosting platform can be critical to the amount of exposure that video gets. Not all video hosting platforms are effective or efficient which can make choosing the right one difficult.
If you’re looking to maximize reach and simplify integration with your website and social sharing then you’re going to want to take a look at these tried and true video hosting platforms:
a) YouTube – Every minute, 100 hours of video materials are uploaded to YouTube and then viewed by a billion unique users each month.
Video hosting on YouTube is completely free and also comes equipped with dozens of tools to improve the quality of your video content like; adding soundtracks, subtitling, or video edition.
b) Vimeo – Vimeo also offers a free account, although there are many more limitations compared to YouTube. For example, a free account gives you access to 500 MB of disk space, lets you upload 10 videos daily and only 1 HD video weekly. Typically, Vimeo is more beneficial to creatives who require quality because the platform itself; while still highly trafficked is about 10 times less so than YouTube.
c) Wistia – Wistia is relatively new in comparison to the previous two platforms mentioned and their are some significant differences the biggest being a very limited free account option (3 uploads and 5GB transfer monthly). Wistia charges fees based on traffic generated by viewers which can get quite costly possibly $300 per month. Wistia does come with some benefits that make this price point less of a sticking point to experienced video marketers. Things like the ability to use advanced privacy settings or SEO tools, personalize the player layout, collect emails thanks to a built-in web form. One of the most interesting features includes behavioral website analytics based on heatmaps, or special call to action buttons.
Personalization in video marketing or even an explainer video can have a dramatic impact on how effective the conversion rate will be on that video.
Instill a Sense of Trust
Nothing beats the effectiveness of credibility.
There are several ways that you can instill trust and buyer confidence through video:
a) by creating a personal connection through your brand message.
b) customer reviews or testimonials provide a credible 3rd party influence.
c) by establishing yourself as an authority by explaining a solution to a critical customer problem.
Start Creating Some Videos
Get the Help of the Professionals
To create more personalized product videos, hire professionals. Professional video creators are everywhere. Their services are widely offered online. You can inquire anytime anywhere. Using a professional’s video creation skills could mean the best video product for you and your business. With their experience, you are sure that you are going to hit the target that you’ve been aiming since the beginning of your business journey. You need an expert to make sure that all the effort, time and money will be spent wisely.
That’s a Wrap
So what are you waiting for? It’s time to start the work an it may take a lot of it to position your video as the high-performing centerpiece of your successful video marketing strategy – but it’s all going to be worth it. Many businesses have benefited from the power of video marketing. This time, make it your business!