Online buyers have many choices when it comes to products or services. If you’re an internet retailer, then you want every advantage to gain more sales. In that regard, video can be crucial to converting online traffic to revenue.
In their recent, annual video marketing survey, Wyzowl surveyed 570 professional marketers and online consumers. Of this group, 76% reported that website videos generated more sales.
A Liveclicker survey of retailers noted a significant increase in average order value (AOV) on product pages that contained videos. As well, 57 % of retailers who used video witnessed a sales increase of 50 percent on their products.
This marketing trend is valuable intel to businesses and will continue to be strong in 2019. Whether the video is animated, featured in a header, or used for a sales campaign, the results from marketing with video have been shown to attract more revenue.
Here’s how video converts online visitors into paying customers.
1. The Video Hook
One of the most valuable steps to a video campaign that is going to generate online sales happens in those first few seconds. Folks are just not going to stick around without having their interest piqued. Like a well-written article, a video needs a solid hook.
One of the most famous marketing video series begins with the zinger, “Will it blend? That is the question.”
The blender company, BlendTec, offers a unique hook that makes customers curious about their remarkable, sturdy kitchen blenders.
Following the hook, founder Tom Dickson proceeds to blend anything imaginable, including cameras, marbles, and even an iPhone playing the series’ intro. This innovative marketing strategy has resulted in viral videos, with millions of views and the lion’s share of the kitchen blender market.
2. Video Length: The Short and Long Game
Online shoppers make quick decisions. For them, there is great value in a short video that highlights the product in a simple and clear fashion. However, some shoppers may bite on a longer video when contemplating how their lifestyle fits with the company’s mission, brand, and products.
Short for Sales
Short, short, short. For sales, it’s often best for the video to come in under two minutes.
Video software company Wistia reports that two minutes is often what companies need to shoot for. Videos that sneak past the two-minute mark show a significant drop-in engagement.
For short videos, a good strategy is to be concise. Be clear on message. Don’t try to do too much. Though the business or retailer wants a sale, the mission is just as important to feature as the product. Even in a short video, the customer is buying into the company as much as the product itself.
Long for Brand
While short is often essential to sales, that is not always the case for engaging customers with your brand, which is why long-form videos have their merits.
Businesses interested in showcasing their brand or a particular message may not be able to do that visually in 120 seconds. It may be necessary to craft a longer narrative. In that case, you want careful planning and a proper budget.
Longer videos can result in more shares and views, which is the result of a 2017 study by Wochit, a leader in video platform. More shares and more views can ultimately lead to more revenue. Paul’s Boots and Patagonia are great examples of using the long-form video to attract consumers and reinforce their brand.
In their “Worn Wear” video, Patagonia takes the viewer and/or potential customer on a journey of experience and aspiration. With breathtaking outdoor scenes and rich stories about rugged individuals who care about the earth, their video is targeted directly at these interested consumers, and even new ones, who want the same journey, lifestyle (and that awesome outdoor wear!). You may be surprised at how quickly the twenty-eight minutes passes.
3. Videos Can Be Fun (and “Quality” is Negotiable)
BlendTec’s “Will it blend?” series were not high-quality at the onset, and they didn’t need to be. For videos showcased on social media sites, small businesses in particular can get away with off-the-cuff, down-to-earth feel of a low-rez video. And this is what BlendTec did in the mid-2000s.
Many SMEs can have a lot of success like BlendTec by crafting fun videos that don’t require a large budget. Small businesses can shoot on cell phones without expensive light kits or a boom mic and DAT recorder taking in the sound.
An often overlooked part of the video equation is the value of knowing which web hosts can handle large amounts of traffic. Whether you end up with a flashy, high-dollar mini-movie or a low budget infomercial, you need a host and plan with the computing resources available to push it out to viewers quickly and without fuss.
Even low quality videos are an enormous bandwidth drain. If yours don’t load fast enough, thanks to a below-average host, expect potential viewers to click away as fast as they arrived, leaving all your video efforts to amount to squat. The bottom line is that all hosts are not created equal so exert some effort to find a good one.
4. Video Creation and Editing
Given the video capabilities of phones (the 2015 feature film Tangerine was shot on an iPhone), marketing videos can be created in-house with a decent look.
Also, with the ease of some basic video-editing software like Lightwork or DSVC, these videos can be edited with ease.
A small business does not necessarily have to hire a media company to shoot video though it is recommended if there is a budget for it.
Most iterations of the iPhone produce extraordinary video quality. As well, Apple offers their iMovie software, where you can edit on phone or Mac.
Offering free and paid versions, Magisto is another type of software that allows for shooting with a phone and editing within its interface. Magisto specifically targets users wanting to upload social media videos.
[Update Nov. 18, 2019] Resources like this one (How to make a promotional video for your company: 7 steps) may also help.
The Bottom Line
With a solid marketing strategy, video creation allows businesses, small and large, to grow revenue and gain more online sales. For large firms, this can be more high-quality videos or storied films about their brand and products. But even small business can get in on the game with video by grabbing more average order value (AOV) simply by posting product videos with heart and humor.