Why Using Video Can Give You Higher Conversion Rate
Updated: Sep 25, 2021
With technology being so readily available nowadays, consumer's preferences are experiencing a fundamental shift towards media consumption. Generally, they are in favour of fast-moving content, and one of the most effective ways as we know it is through videos.
As a marketer, this has prompted the need for fast adaptation. However, it is essential that one must stay on top of the news to understand how navigate around the rapidly evolving changes in consumer’s behaviour.
A survey conducted by Hubspot has revealed that video is among the most preferred formats when it comes to consuming information. Furthermore, if you have kept up to date with the trends, you’ll be aware of the forecasted growth of video, with projections showing that video will account for a massive 79% of all online traffic. This has convinced many marketers to start incorporating video content into their strategy, who are hoping to turn more leads into prospects.
But is it true that video can result in a higher conversion rate? That's what we will be discussing in this article.
#1. Videos Allow for Higher Engagement Rates
Video is a highly effective form of content that utilizes both audio and visual to grasp the attention more effectively than any type of other content can. The intriguing storylines and the flow helps keep the audience in check, allowing you to control emotions and provoking desired actions when used effectively.
After all, people are emotional creatures. They make decisions emotionally, not logically. Storytelling is a powerful tool that helps bridge the emotional connection between your brand and your consumers. This also increases the likelihood of consumers buying into your brand as videos make it easier for consumers to resonate and take in information.
#2. Videos Give Your Business Increased Credibility & Credence
Ever find yourself in situations where your customers aren't convincing enough to buy your product?
This is where the usefulness of video comes in!
Video can provide proof and allows customers to visually witness the product capabilities. In most instances, this is sufficient to provide them with the information and knowledge needed to help seal the deal. By repeatedly doing this, you’re able to build trust and credibility over some time.
By leveraging on this trust and credibility, marketing the video to a greater audience can help expand your reach and vastly improve your brand identity. In the long run, establishing strong branding will help stand out from the competitors, resulting in an increase in the conversion rate.
#3. Videos Send Your Message In The Shortest Amount Of Time
Our brains process imagery 60,000 times faster than text. Regardless of the length of messages, it’s likely that a couple of minutes of video is going to be more effective at getting your message across, than the vast amount of text cluttering that could be cluttering up the mind of your target audience.
In a way, videos can often deliver other aspects of your message that text cannot, such as emotion and personality, which results in a more concise and accurate explanation of the intended message. By accompanying a call to action at the end, it can maximize your effort and significantly increase the conversion rate.
#4. Videos Let You Leverage Digital Platforms To Maximise Your Reach
Even in this digital age, word-of-mouth still remains one of the most powerful forms of advertising, mainly due to its ability to communicate information genuinely among people with whom you share close relationships.
Within the digital space, videos are also the most shared content on social media, accounting for a massive 1200%, and have undeniably exceeded those contents that are primarily text and link-based. By incorporating the two strategies together, this pair will result in an immense reach and the capabilities are beyond imaginable.
#5. Videos Help Your Brand Achieve Top Of Mind
For every marketing strategy, the desired goal is eventually to gain top of mind awareness and continue staying afloat in the consumer’s mind. Video has proven to be one of the most sure-fire tactics in increasing recall rates due to the various elements it poses. A study also suggests that viewers find information retention to be higher in videos as compared to text. This poses a great opportunity for marketers to leverage video content in trying to drive their messages across.
Therefore, with all in place, it's hard to deny the benefits of video marketing and the immense effects over other media techniques. As we are living in a rapid pacing environment, consuming information is no longer the same. What had used to be the sole purpose of communicating a message has now turned into a race to compete for attention, sharing crucial information to intrigue interest and hoping the brand continues to stay afloat in the consumer’s mind, All of these efforts will eventually lead to higher brand recall rate, increasing conversion rate over the time.
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