How to Use Video to Drive Sales
People use videos to learn about your products
As a business-focused person, you are probably surprised but not very affected by the importance of videos and engagement. Sure, people may like videos, but how does that impact your business? You want people to think about your products and buy them, not just laugh and upvote them on YouTube. You might not be so sure that using business videos will drive sales.
As it turns out, videos have a big impact in the purchase-decision process. According to Wyzowl, 98% of the people surveyed said they had watched an explainer video to learn more about a product or service. Not only that, but 90% of people interviewed said that product videos were helpful in the decision process.
The study carried out by Animoto found the majority of consumers find it helpful to watch a product video more than once before making a purchase. Moreover, Hyperfine Media found 64% are more likely to buy a product online after watching a video.
The reason so many people like watching videos has a deep relationship with the way video affects how they process and understand information. People who watch a video retain 95% of a message compared to 10% when they read it in text. Also, according to Animoto, there are four times as many customers who would rather watch a video about a product than read about it.
Video doesn’t affect online purchases alone. According to a study done by Google, almost 50% of internet users look for videos related to a product or service before visiting a store.
The power video has in the purchase decision process explains why, 93% of businesses who use video believe that it has increased user understanding of their product or service. This affects their conversion rate (see below for more information).
Since video has a large impact in the purchase decision process, it’s not a surprise to see it can also help you increase your conversion rate.
Wyzowl found 74% of the people interviewed who watched an explainer video to learn more about a product or service ended up buying it. That same study found 77% of consumers say they’ve been convinced to buy a product or service by watching a video. This means, not only does video help people engage with your brand and learn more about your offerings, but it also helps them pull the plug and purchase your products.
Following the previous insights, online shoppers who view demo videos are 1.81x more likely to purchase than non-viewers.
The higher likelihood of people buying a product thanks to video helps to increase the conversion rate considerably: websites that use video have had a conversion rate of 4.8%, compared to 2.9% for those that don’t use video. What’s more, a study done by the Aberdeen Group found companies which use videos in their marketing enjoy 27% higher CTR and 34% higher web conversion rates than those which don’t.
For this reason, 72% of businesses who use video believe that it has improved the conversion rate of their website while 64% of them believe that it has directly led to increased sales. Finally, Wyzowl found 76% of businesses who use video believe that it provides a good ROI.
These stats are among the numerous reasons why you need to include video for your sales team. Let’s sit down and discuss how we can provide you with the right video to boost your sales.