Using Videos to Boost Conversion Rate & Acquire More Customers
Videos account for approximately 78% of all internet traffic. It has only been a little over a decade since YouTube became a wildly popular video hosting site. Before the YouTube revolution, it was much more difficult to provide and share video content on websites. Nowadays, anybody can post and share videos with ease1. As customer interest in videos is at an all-time high, why wouldn't you use videos to effectively target this wealth of consumers?
There are different types of videos you can use to reach different types of consumers, during different stages in the consumer buying cycle. The five stages of the buying cycle are: Awareness, Consideration, Preference/Intent, Purchase and Repurchase. For example, are you marketing the awareness of your brand to customers, or are you marketing your product for purchase?
Below are four different ways you can use videos to target your specific target demographic during a particular stage in the customer buying cycle:
1. Explainer and Tutorial Videos
Explainer videos explain the benefits of a product or service and show how it works, often using catchy, animated graphics. Tutorials, of course, are for showing how to use a product. These videos are great for targeting consumers in the consideration stage of the cycle, when they need to know more about your product. They're also useful for gaining awareness because they show how a consumer's needs will be satisfied in a way that is easy to understand. Here's an example of an animated explainer created by SOMO Studios.
2. Personalized Videos
Personalized videos are videos that address the viewer by name. They're fantastic for the preference/intent stage because they engage the viewer before reiterating the benefits of the product. They can also be useful in the repurchase stage, for saying "thank you" and offering a discount on the next purchase, for example. The internet generally agrees that these videos boost click-through rates by a bunch.
3. Product Reviews
Product reviews work best when they're created by normal consumers, not by someone working for the manufacturer of the reviewed product. However, businesses can review complimentary products or services and hope the favor is returned. For these types of videos, honesty is the best policy.
Consumers check reviews, especially video reviews, while in local stores and while shopping online at home. That means they're "make or break" at the preference/intent stage.
4. Culture Videos
Culture videos put your company culture on display. They are particularly useful for service providers, but they can be useful for products as well. Consumers are more likely to spend money on services or products that represent people they can relate to. Consumers are less likely to give their hard-earned money to people they don't like or cannot identify with. Be sincere. Communicate what your product or service is all about in this kind of video. Take this video as an example. Who wouldn't want to buy food from this company?
According to Hubspot, simply putting the word "video" in an ad or in link text can boost click through rate by up to 65%? This really shows how "crazy" consumers really are about videos. Over half of us watch videos online every day, giving you plenty of opportunities to implement targeted advertising initiatives2.
Interested in boosting your customer base? Our experts at isoTree can help you effectively connect your videos to the right consumers by using precisely targeted PPC management techniques. Contact us today to discuss how we can help your business succeed!
Lopes, Marina. (10 June, 2014). Videos May Make Up 85% of Internet Traffic by 2018: Cisco. Reuters. Available Online: http://www.reuters.com/article/us-internet-consumers-cisco-systems-idUSKBN0EL15E20140610
Kolowich, Lindsay. (10 August, 2015). 25 Video Marketing Statistics for 2015 (Infographic). Hubspot. Available Online: http://blog.hubspot.com/marketing/video-marketing-statistics