Web Video in 2017: Why Businesses Without Video Are Losing Sales
Bríain likes dogs and building websites. He's the perfect fit.
What's All the Fuss About Web Video, Anyway? Is It Really That Important?
Let’s be honest. There’s nothing duller and more unimaginative than beginning an article with a statistic. To the average person, reading statistics is about as exciting as waiting in traffic or queuing in the Post Office. And for good reason too. Statistics don’t tell a story. They’re mere abstractions. They’re faceless; they’re impersonal.
But – the truth is – sometimes the numbers really do speak for themselves.
Consider the following fact, for example. According to a number of independently conducted studies, including video on a landing page can increase conversion rates by up to 80%? Just think about that for a moment. By engaging with your users through the medium of video, some companies have increased their sales by up to 80%. Hard to believe, isn’t it?
Let’s go ahead and take a look at some other recent statistics, shall we?
- Online salespeople have discovered that product videos can increase product purchases on an e-commerce site by up to 144%.
- Research conducted in 2016 showed that 74% of customers who watched an online explainer video about a product or service subsequently purchased it.
- Web video has been shown to result in an 157% increase in organic traffic from search engines.
With statistics like these, it’s almost impossible to deny the real-world benefits of video, for both large and small businesses alike. And with ever-increasing numbers of consumers turning to the Web to do their shopping, with every passing year, the simple truth is this: online businesses that fail to take advantage of video are destined to fail in the long-run. Online businesses and services without video will no longer be able to compete with businesses that have video as a competitive edge.
To put it in the clearest terms possible – the future of a successful online presence lies in successful video marketing.
Here’s a short video we put together outlining some of the benefits of video for your online business:
The Benefits of Online Video: An In-Depth Analysis
Although these statistics are impressive enough on their own, they’re really only the tip of the ice-berg. The benefits of online video are varied and multi-faceted. Not only can online video increase your overall sales, but it will help drive traffic to your website, improve your organic search engine rankings, help inform your customers, promote your brand and increase customer loyalty.
In order to get a fuller picture of the impact that video can have on the success of your business, let’s take a more in-depth look.
Sales & Online Conversions
– 74% of people who viewed an online explainer video to find out more about a product or service subsequently purchased it.
– 77% of online consumers claim they’ve been convinced to buy a service or product by watching a web video.
– According to 70% of marketers, video creates more conversions than all other types of marketing content.
– Online salespeople have discovered that product videos can increase product purchases on an e-commerce site by up to 144%
– Even website owners who don’t manage an online store can increase conversions by 80% by including video on their landing page.
Search Engine Optimisation & Web Traffic
– Businesses taking advantage of video benefit from 41% more web traffic from search than than companies that don’t.
– Video creates a 157% increase in organic traffic from search engines.
Showcase your Brand & Company
– 70% of people claim they have shared a brand’s video on social media and with friends.
– 76% of people claim they would share a branded video with their friends if they found it entertaining.
– 69% of people claim they would share a branded video if the video provided information that would be of interest to their friends.
Helps Customers Use Your Product or Service
– 68% of people would prefer to watch a video when having difficult with a product or service, in lieu of getting in touch the a support helpline or with a staff member.
Improves Marketing Reach
– 92% of video consumers – on mobile – share these videos with friends and acquaintances.
– Video garners 1200% more shares than text and images combined.
– 80% of users remember a video ad they watched in the last 30 days.
– By adding video to your emails, this results in a 200-300% increase in your CTR (click-through-rate).
– Integrating video with your traditional full-page advertisements increases engagement by up to 22%.
So How Do I Get Started?
Chances are, you’ve known about the benefits of video for some time – but aren’t sure about how to get started. Should you create your video in-house, for example, or should you hire an established production company? Is it possible to hire student or amateur filmmakers in lieu of more seasoned pros? Do I a need a high-end broadcast camera for web video or will an iPhone do the job?
These are some of the most common questions business owners find themselves asking.
And what’s the answer? Well, that depends.
When it comes to deciding whether you want to make your video in-house, or whether you want to hire professionals, your decision should be guided by your overall business objectives. Is your goal to increase sales for your product and service? Is it to help drive traffic to your website and boost your overall marketing reach? Is it to convey the benefits of your service or product to your customers? Is it to establish your trustworthiness, credibility and professionalism?
If the answer to any of these questions is yes, then you’re probably going to want to hire professionals. Although the tools and skills required to create professional video have become increasingly more accessible, professional videography and filmmaking is a craft that takes many years to master. Not only that, but people expect a certain level of skill and polish when viewing video online.
For example, 61% of users say they have been put off buying a product after watching a bad explainer video. The majority of these users (37%) said they were put off by the fact that the video didn’t explain the product or service clearly enough, while 25% of these users said the video’s low quality was discouraging. 21% of these users found that the video was too long.
For this reason, hiring professionals with the background and experience necessary will help ensure your video achieves your business objectives.
Why is Big Media Media Better than Traditional Production Companies?