Online video marketing is the advertising method of the future. Don't just take our word for it; see for yourself. Here are some compelling stats to back it up:
64% of users are more likely to buy a product online after watching a video.
Videos embedded in emails increase the click-through rate by 200-300%.
Including a video on a landing page can increase conversion by 80%.
Video is the number one way to drive emotion, and build trust online. Everyone has access to this information, yet only 22% of small businesses focus any portion of their marketing budget on video. Due to the relatively few businesses that are currently taking part in this revolution, implementing video marketing as the forefront of your comprehensive strategy will give you a serious advantage over your competition.
By leveraging video marketing for your products you'll be able to educate with product demonstration videos, bring in buyers with product line overviews, and raise support with crowdfunding videos. Your company should always consider making these three types of videos available to your customers when launching a new product, as these are some of the most effective marketing tools that you can take advantage of throughout your campaign.
1. Product Demonstration Videos
90% of online shoppers say that product videos are helpful during the buying decision process. It doesn't matter whether your company sells one product or hundreds of products. By producing individual videos for each of your products, you're able to present a controlled demonstration to your potential customers; a presentation that is available to anyone, all hours of the day. Visitors will be able to gain insight into what it's like to use your product, unknown or hidden features, or how to fully incorporate it's benefits into their life - all extremely valuable players in helping move the visitor down the path to becoming a buyer.
For example, Bohemian Guitars had four guitars with different looks and sounds. Their customers wanted to know what they looked and sounded like, even if they didn't have one in their hand. To solve this problem, Bohemian Guitars brought in a talented guitarist - Garrett Reynolds - and crafted a video environment at Sonica Recording studio in Atlanta, GA that was on-brand and on-message. Multiple sessions were recorded in this environment, each with a different version of the guitar and the style of play to match.
By providing potential customers with a video series demonstrating the differences in design and sound, you make it effortless to absorb tons of information that would otherwise be difficult to communicate. Now that online video is the standard for communicating visual information, pictures simply don’t do enough to make your products stand out. A picture says a thousand words, but a video is worth 1.8 million.
You can share these videos on your product pages, social media platforms, email newsletters, and use paid online advertising to include these videos as part of a well-rounded video marketing strategy.
2. Product Line Overview
Some businesses involve product lines that are constantly evolving or changing with trends, seasons, or both. Each time a new product line is unveiled, there are always updates and enhancements that need to be communicated in order to benefit your business. A product line overview video gives your brand the opportunity to give potential customers the inside scoop on the differentiating features in your latest product line.
With some simple scriptwriting and the filming of some product b-roll and interviews, Mud Pie was able to release a video that communicated the new trends and features for the entire Spring collection in under three minutes. Embedding this product line video on your landing page, sharing on social media or in a newsletter, and using paid online advertising are all great strategies when targeting potential new customers.
3. Video for Crowdfunding
Understanding that both logic and emotion play key roles in engaging your viewer is the key to producing an engaging crowdfunding video. Video is the most personal way to tell your story digitally. Something has inspired you to create your product and video is the perfect platform to share with the world how your product came to fruition.
On crowdfunding websites, campaigns with video raised on average 4 times more funds than campaigns without video. If crowdfunding is part of your strategy, people aren't investing money in your product, they're investing money in your idea. These investors need to be able to trust you with their money and having a professional video shows that you are serious about your business.
Bohemian Guitars used their Indiegogo campaignas an opportunity to present a video that reflected on the history of their company, but also looked ahead toward the future. By tapping into the emotion and spirit of the product and brand, showing off the instruments in use, and investing in video as the centerpiece of their campaign, Bohemian Guitars was able to exceed their fundraising goal by more than 850%.
It's impossible for your potential buyers to physically touch your products through the Internet. At least right now. Selling your brand or product is limited to what they, the buyer, can see, hear, and learn about it. Video is the only method that appeals to all of these senses simultaneously. Show off your product and let buyers know why it is worth buying.
When you come across great video marketing, there is always a video services team behind-the-scenes making it happen. If you can share videos that resonate with your market, you'll have the opportunity to increase purchase intent by 97% and brand association by 139%. You can't, and shouldn't, trust just anyone with video marketing for your brand. Video marketing is a large investment for a company to make, and you should always perform due diligence to make sure you find the right team for you. If you want to learn more about video services, we're here to help you.