How Do Product Videos Affect Conversion Rates?
Many firms have their website in place, complete with product pages, blogs, and social media following. Over time, their sites may give positive customer feedback on purchases made. Yet, the sales may not match up to the company’s expectations. To stay competitive and buoyant, you need consistent sales. But you may not have the time or the funds to invest in marketing efforts.
Putting product videos could be a quick, easy and inexpensive way to get a performance boost of your product pages on your e-commerce site. Thanks to the rising popularity of the videos, it is now easier to strategize, script, film, and post videos on your website. Modern-day videos on goods and services with music and motion graphics help meet the target audiences’ needs and persuade them to buy. Let us see how videos can be more meaningful for your brand communication and conversion.
Interpreting The Video Mindset
Video is everywhere. Brands that use video in exciting ways enjoy higher time on page, lower bounce rate, and SEO boost. What is in a video that leads to higher engagement and interaction rates?
Human psychology stimulates a response in the audience’s mind from video watching. It tugs at our heartstrings and captivates our attention. That’s how human emotions can help convert a viewer into a customer. A video conveys more than words and at a faster pace. It helps communicate deeply by touching the human sentiments and arousing feelings of emotions and desire. Here is how videos make a difference in the sales pitch, awareness, and purchase.
Helps Push Up Brand Awareness
Videos can help get your company good conversion and engagement rates by boosting brand awareness. Studies predict video traffic increasing fourfold by 2022 and that nearly half of all devices will be video capable. The addiction rate of YouTube videos also points out the mammoth popularity of streaming videos to introduce a brand.
These impressive statistics show the growing popularity of videos. Personal care products and consumer appliances are a few examples of products that can get a high conversion rate with product videos. Household appliances like dishwashers and vacuum cleaners sell more when product videos display functional benefits.
Gets More Sharing Than Content
Positive reviews can garner more sales when they come as a video share. Since videos find more sharing on social media than links and text, it becomes a marketing foundation for most companies.
Urban consumers rely on video sharing among friends and colleagues to complete product purchases. That’s why it fetches a high conversion rate compared to other promotional channels. Videos appearing in search results also deliver product information at the click of a button which can be shared with people of mutual interests. This betters the chances of driving conversions.
Builds And Strengthens Credibility
One major drawback in selling your products online is that the internet consumer cannot touch or feel the product. That’s why many consumers still prefer buying products in-store than online. Product videos are a great way to instill confidence in internet-savvy consumers and make them believe your product can solve their needs before they decide to buy them.
Posting informative videos on your website with actual consumer experiences automatically helps win their trust and makes your brand look more credible. A 20-second product video of a faucet, geyser, or LCD will explain to you the benefits and user functions more satisfactorily than a product leaflet at a showroom. This increases the product credibility of the manufacturing firm.
Boosts Consumer Trust In Ecommerce Firms
In making an online purchase, a consumer may have few doubts regarding the product’s actual color, size, and feel. It’s easy to make claims on a product, but it is difficult to convince the customers. That’s where a product video comes in.
A video provides online shoppers with a closer look at the product and its functioning. This can make users imagine using that product and therefore motivate a purchase. With time, it helps consumer trust. Company videos communicate your brand values. Recruitment videos improve your company image, and social videos build engagement and a more personal connection to your brand.
Enables Cross-Selling
Product videos can be of great help in cross-selling promotions. Sending personalized communication, such as automated emails based on the past shopping experience, aids in better conversion and brand loyalty. It also helps maintain a long-term customer relationship and saves introduction time and basic costs of acquiring a new customer.
Most businesses insert product images in the emails sent to customers in their cross-selling promotion. Replacing images with product videos is a step ahead in demonstrating products in action, yielding better results. Videos attract customer interest and might increase your conversion.
Can Explain Your Products Better
The product videos help communicate the product benefit and create a lasting impression in people’s minds. They help convey the product story and easily explain the features and benefits without too much text.
For example, how-to videos, demo videos, tutorials explain how products work and benefit your audience and end-user. Such videos do a great job of keeping the customers engaged while encouraging them to buy the product. However, you must watch the duration of a product video as longer duration videos can bore your audience and make them exit.
Helps Answer User Questions
There are many spheres where one feels the importance of a video to explain product usage. Whether make-up tutorials or instructional games, a video can make all the difference when the answers are unavailable on the product cart page.
A product video made right will leave little room for queries. Product specifications, how it works, after-purchase tips are a few areas that ease user worry and anxiety about a product before its purchase happens. A product video acts as a salesperson, telling you all the product details for your benefit and call-to-action.
The Bottom Line
Product videos are a powerful tool to convey your product messages while connecting emotionally to the audience. Well-crafted videos can make you strike the right chord with the consumers and attract them towards your products.
Hire the right professionals or video production companies to create excellent video content for your brand. Strategize your video plan–think about your marketing goals, budget, distribution, success evaluation. When you have all these aligned, create the video.
