Yahoo! Voices : When it Come to Pricing, Profit is Important
Pricing a product, or a service, is hard. There are so many different aspects to keep in mind. Wages... Read MoreCategory: Video Marketing
We’ve all experienced it – we go to a website and there is a large block of black and white text about a product or service that we may or may not be interested in. We start to read through it, and eventually, our eyes start to skim, and we find ourselves going down to the bullet point list of specs. By the end, we might have some idea of the product, but purchasing confidence isn’t anywhere near what it could be. Enter the explainer video.
According to TMG, “Consumers who watch product videos are 85% more likely to buy products, compared to those who don’t.” Can you imagine the impact on your sales if 85% of the people on your website were more likely to buy? Adding to this Internet Retailer tells us that, “52% of viewers say that watching product videos makes them more confident in their online purchasing decisions.” Confident consumers making more purchases.
But it’s not just consumers who love video. According to Forbes, a majority of senior level executives would rather watch a video than read a block of text. The logic is simple. A video can get across more information in less time than a written report. In addition, a video excites multiple senses, making it easier to digest, and the information more likely to stick with the viewer. Studies have shown that when auditory and visual senses are stimulated, then the more likely someone is to retain and utilize that information. Jellyfish, one of our clients, ended up making a 800 thousand dollar sale just by showing potential customers the video that we did for them!
How often do people watch a YouTube video over and over, sharing it with their friends and family? Discovering something new every time. The same can’t be said for written reports. When we return to a block of written text, more often than not our natural reaction is for our eyes to start scanning the page. This results in the reader retaining less information than if they had watched a video. People tend to pay closer attention to different details, causing us to obtain more information from a second viewing of a video.
The power of utilizing explainer videos for your company is clear – harness the power of video to bring about action in consumers, executives, or whoever your audience may be!
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