There are countless reasons why online video consumption is exploding. To name a few – people find video content more compelling than text, remember visual content better, and video informs their purchase decisions.
Despite consumer’s preferences, some marketers and businesses shy away from producing high-quality video content because of the seemingly large up-front investment.
Today’s data-driven marketers needs more information to justify their investment and understand how it will translate to more leads, conversions and ultimately sales. So we aimed to find out, once and for all, “Is video worth the investment?”
Video persuades viewers to take action
Not only do most consumers prefer video, but most marketers prefer video over other content for its high conversion rate. According to a recent video benchmark report, 71% of marketers said that their videos outperformed other marketing content, and a similar study found that 52% of marketers think that video has the highest ROI of all forms on content marketing.
So what kind of results can you expect from adding video into your marketing channels? Here’s what the conversion rates look like:
- Websites – Average website conversion rate for video content users is 4.8%, compared to 2.9% for non-video content users.
- Blog Posts – Blog posts with video receive 15% more engagement and time on site than posts with images and text.
- Videos on landing pages can increase conversions by 86%.
- Video in email can increase click-through rates by 55% and conversion rates by 24%.
Show more videos, get higher sales
With stats like these, it’s no secret that video works great in converting leads and customers. But how does this translate to actual sales?
Liveclicker surveyed some of the largest e-commerce operators and found that more product videos equal higher average orders. Retailers who placed video on more than half of their product pages generated 68% higher average orders than retailers who hosted video on less than a quarter of their pages. Furthermore, for every one percent increase in active videos, average monthly revenue increased by more than $13,000.
Need more proof? Check out the impact that video had on these company sales:
- Shoeline.com increased sales conversions by 44% when it started using videos for showcasing its products.
- Artbeads increased their conversions by 30% by including how-to videos and integrating the video content into its site search.
- Equestrian sport supplier, Ariat noticed that visits where a product video had been viewed had a conversion rate that was 160% higher than visits where no video was viewed.
You can save money with video
Now you know that video is great for sales and conversions, but you may be surprised to find out that your video can cover its own cost of production in a matter of days. Recent research by Aberdeen Group confirmed that including video content can directly impact your marketing expenditures.
Companies using video spend less time and money trying to generate marketing leads. They require 37% fewer unique site visits to generate a marketing response, and they spend $93 per lead, vs. companies without video who spend $115 per lead.
If you crunch the numbers, you’ll see that for every 100 leads, you can actually save $2200.
Leverage video content for better marketing results
As a marketer, investing in video content can not only provide you an edge when it comes to lead scoring and conversions but also in terms of tracking and measurement. Video is a great sales tool and has the power to deliver content quickly, creatively and across a variety of platforms, from mobile to social media and beyond.
Best of all, video is an investment that pays for itself and not just in the long run.
For more information on corporate videos or to request a quote go to http://www.b-tv.com/production-services/