Online Video and Conversions
Want to increase your online conversion rates?
We have seen how online video technology – video sharing platforms, video analytics software, and cloud based video delivery – can take any websites conversion rates to the next level. In fact, we are building a business on it. This technology is still in the beginning stages, still finding its place on the web. There isn’t even a lot of information out there on how a video sharing platform specifically is going to raise your conversion activity. But you may just want to take my word on it.
Online video is the next step in online marketing and communication strategy. Companies and organizations worldwide are spending more and more advertising dollars on video SEO and cloud based video delivery services than ever before in order to increase conversions. To attract customers and increase your conversions you need to stay relevant and up to date with what is occurring on the web. And what is occurring right now is video.
Video supplies your customers with a personal experience from your website; it can become more than just words and pictures on a screen. This interactive media allows the availability of a real, live person talking to your viewers. Via a video spokesperson, this relationship between the viewer and the video means the difference between a completed sale or lead form and just another potential customer abandoning your site.
Check this out. An article I found online by Ed Taylor supports exactly what I am saying. He even gives some real numbers on how using a video sharing platform can increase your conversion rates. In the article, “New Video Spokesperson Dramatically Improves Website Results,” Taylor writes, “Over a 6 month testing period website visitors who viewed walk on videos showed 87% higher positive reactions than those who were not presented with the video.” Imagine that reaction on your site.
Taylor uses The Discovery Channel Store, one of the first e-commerce companies to use video as a sales strategy, as his main example. In an independent study conducted by the company itself, in a two week time period they saw an increase of sales to 78 percent in customers who viewed the video. ROI was believed to reach over 600 percent! And all of this occurred just from the addition of video to their site.
We are seeing the same type of data here at Innovate Ads with our own website spokesperson technology, iAds. Our iAds have produced some very compelling case studies.
Tandberg Video Systems, designers of video conferencing tools, had a conversion rate of just .75 to 1 percent. Not horrible, but we knew we could help their rates. Once our iAds played on their site their conversions increased to 1.5 to 3 percent. Add in a Google keywords search plus the video and conversions reached a phenomenal 3.5 to 7 percent!
iAd’s were produced to promote Country singer Trace Atkins newest CD using Trace himself on radio station websites across the country. Trace promoted station events and allowed fans to purchase his record by clicking on his image. Over 495,000 people played the Trace Atkins video on the radio station web sites, and more than 57,000 clicked to go to his “buy page.”
All of these numbers are adding up: video increases your conversion rate. Video is still new to the web but its impact is already showing. We will really be able to see just how revolutionary this technology is once more websites use video to their marketing advantage. More videos mean more experts and more data to support and really explain the massive effect video has on increasing your conversions. The bottom line: online video is all about maximizing your media spend and conversions.
We were talking the other day about the fact that some companies will pay hundreds of thousands of dollars and run millions of advertising impressions to take people to a page that isn’t actually maximized for conversions.
Sure, some people may take efforts to “a/b” test their landing pages to increase their lead yields. Some may actually pour through the response rate and make tweaks that will lift response by a few percentage points -Which by the way is respectable and to be commended.
Our customers have done all that and more.
They’ve taken it to the next level and incorporated the MOST EFFECTIVE SALES TOOL OF ALL TIME into their landing pages – Video!
It’s not a matter of if you’ll use video on your landing pages and lead generation and e-commerce landing pages it’s when.
Some of our customers have doubled their post-click response rates. A select few have taken it farther than that. How? By staying committed and testing testing testing. By fastidiously monitoring response rates using video analytics software and making changes to build upon their success. These marketers aren’t afraid to makes changes to and update their video clips (change actors, change the offer, or change the copy) in an effort to find the right mix for their products and services.
Marketing is not an event. There are no media that “don’t work”. Marketing is a process. Every campaign is an opportunity to learn and improve.