A Report On The Impact Of Online Videos In The Areas Of Marketing And Conversion
The internet has always been labeled as the information superhighway, and information conveyed over the World Wide Web is often expressed in words and pictures.
Guess what?
That highway drastically changed in the last 2 years. It got wider. It got faster. And its users are beginning to demand more than mere paragraphs and images.
That’s right. The digital realm has entered the age of online videos. A cursory look at the most popular websites today will verify this fact: YouTube, Revver, MySpace, Veoh, Google, and all new Viddler – all of them are powered by videos.
If you are involved with marketing on the internet or any other form of e-commerce, the rapid rise of online videos as the medium of choice for web users should concern you. Online businessmen are at that point when change is upon them and they have to make a decision: should they ride with the tide or cling to methods which may soon be rendered obsolete?
The Rise Of Online Videos
In a study conducted by ComScore, it was revealed that in January of 2007 alone, 123 million Americans or 70% of internet users in North America watched more than 7 billion online videos. Just to emphasize a point, this staggering number only refers to the US. Just imagine the actual number of people worldwide who get to watch online videos!
Indeed, in the past 2 years, online videos have become the standard by which ideas are shared over the internet. There are many reasons for this revolution:
* More households are wired to the internet via fast connections. Dial-up is fast approaching extinction.
* The digital age has spoiled many people. With the convenience by which everything is served on the internet, people in general have become lazy. Given a choice between reading an article or watching its video equivalent, they will almost always choose the latter.
* Online videos offer a wider platform for people to express themselves. They are no longer limited to words and pictures. They can now create animations, capture footages, film events, record happenings and preserve moments. They can opt to do documentaries, skits, movie-like presentations, reality-based episodes, gag shows, and even parodies of existing programs. Online videos allow their creativity to explode and gain a variety of shapes.
Online Videos And Internet Marketing
The emergence of online videos has greatly enhanced the way e-commerce is conducted. Nowadays, an online businessman can:
1. Create, sell or otherwise utilize video products. Instead of writing an eBook, for example, he can simply film himself as he delivers his lessons. Instead of citing various achievements, sharing inspiring tales, or enumerating previous projects in the upper fold of a sales page just to introduce himself, an internet marketer can now stream a video of himself, where people will see him wholeheartedly welcoming his visitors. Instead of delivering emails as parts of an e-course, he can simply upload videos where he’ll be demonstrating the things he wished to impart.
2. Use videos as a more powerful persuasion tool. We all know the value of testimonials. Third party recommendations can convert more visitors into paying customers than any other device planted on a sales page. Well, if these testimonials are delivered in video form, where prospects will actually get to see the person who will recommend the product, it is certain that such a sales page’s conversion rate will shoot off the roof!
Additionally, many internet marketers use videos as advertisements for their products. Buying ad space on a highly visited website? Instead of posting a banner ad, an advertiser can instead stream a video. Such will elicit better responses.
Many internet marketers also use videos to propel their campaigns in appropriate Web 2.0 environments. Social news networks like Digg, for example, host many “dugged” entries pointing to online videos. Many blog entries indexed at influential websites like Technorati, Del.icio.us, and Del.irio.us are in presented as videos, giving birth to a new term: vlogs, which is short for video blogs.
Videos are also used a catch-on devices for squeeze pages, whether as persuasive tools or as rewards for successful sign-ups.
Online Videos And Lead Conversion
One online marketing method that is fast gaining prominence is the usage of customer review videos. Getting feedback from customers is not a new practice. Often, merchants have a comments section in their websites where customers can leave their reactions about their purchases.
The good feedbacks can be used as testimonials in future campaigns.
The negative feedbacks can be used as market research data to improve the merchants business.
Now, imagine if customers are given the chance to submit video footages of themselves as they provide glowing remarks and high praises for the product they purchased.
Imagine further the impact of these customer review videos when they are used as testimonials to persuade prospects to purchase the merchants offers.
Here’s a fact: videos are the best weapons that an internet marketer can use to boost his business conversion rate.
In a study conducted by BurstMedia where people who have viewed online video ads were surveyed, the following results were garnered:
* 31% checked the advertisers website
* 28% searched for more info about the product advertised by conducting related queries in search engines
* 16% bought the product advertised
* 15% went to a store to check out the product advertised
* 16% talked to family members and friends about the advertised product
* 13% requested product information from the advertiser
* 9% forwarded the video ad to the people they know
* 9% signed up for trial offers (in cases where such was applicable)
* 5% called a given toll-free number
Overlapping percentages indicate the same respondents belonging to multiple groups.
These statistics tell us the marketing power of videos. Simply put, videos convert more prospects. Videos compel more leads into action. Videos sell more products.
There is no denying the extreme marketing importance that online videos have assumed in this day and age. Internet users no longer demand online videos, they already EXPECT online videos. And internet marketers must comply.
After all, the number one rule in marketing is: listen to your audience.
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