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The Connection between Product Video and Conversion Rates
Jeremy Krause explains the connection between videos, engagement and conversions, and why “trust is the currency of the now, not the future.”
In the frenetic world of online, attention is everything. If you can keep the attention of your audience through a video, you’re more likely to increase attention and engagement across the rest of your site, and increase conversion rates.
Stats show that 7 out of 10 millennials are likely to watch a company video when shopping online and that customers who watch product videos while online shopping are almost two times more likely to complete their purchases, which translates into conversion rates of up to 85 percent.
But what kind of video should you make? Well that depends on your business and what you’re trying to achieve through video, whether that be an increase in click through or conversion rate, increased site engagement or social engagement.
Product Videos and Product Usage Tips
Having product videos on your site not only increases engagement with the product, it also increases confidence in the product. In fact, 4 out of 5 shoppers say videos about how a product works are important, and 96 percent of consumers find video helpful when making online purchasing decisions.
Think about it from the customers perspective: you want to buy something you need online, but you’re not sure if the product actually fulfills your needs, and the only information you have to go from are pristine product images that make the product look good, but don’t show in-depth detail or the inner workings of the product. Video changes all of that. By showing the product working and being used from multiple angles, the customer feels they can trust the product more, especially compared to those that only have product images available.
By giving the customer what they want, you are increasing trust in your brand and product and increasing the rate of happy customers, since 57 percent of consumers say that videos make them more confident in products they buy, and less likely to return their orders.
Customer Service Videos
A great way to show you care about your customers are videos with a more personal tone, especially after the customer has reported an issue or hasn’t engaged with your site in awhile. Customer service videos can help you show your customers you care, by giving a face to the company and the issue.
This is a great way of developing trust and assuring customers that they’re being taken care of, especially when your customer service representatives are already stretched thin. The longer a customer has to wait for a response, often the more frustrated they get and the more likely they are to post a negative review online. By sending a video immediately to a customer after they’ve submitted a complaint, you’re showing the customer that you care, with minimal effort in the moment immediately after the complaint.
User Generated Content (UGC)
The above video types are all really great for increasing trust in your product and brand, but user generated content really boosts engagement with your brand and works really well at doing the work for you.
User generated content is exactly what it sounds like: it’s content that your followers on social media create that includes your brand, often organically or as a part of a competition you started on your social page to boost engagement.
User generated content is one of the best ways to organically get your brand, and product noticed by your target audience. In fact, according to YouTube’s data, 6 in 10 people who subscribe to YouTube, would rather follow advice on what to buy from YouTube video creators, than their favorite TV and movie stars.
A great example of how user generated content can have a major impact, is the ice bucket challenge from a few years ago. Something so simple as pouring ice water on your head helped drive donations towards charities helping sufferers of ALS, and even increased research funding, all because it went viral organically. Users not only created the content, but called out friends to do the same, all in the name of pouring ice water over their heads, so that for a moment they could feel the way an ALS sufferer does.
As you can see there are many different ways you can use video to help drive engagement with your product, and increase trust in your brand, allowing for your audience to grow organically. The key takeaway here is to not just make video for the sake of making video, but to make video that fits your brand and allows you to communicate to potential and current customers in a personable way, communicating your product and brand in an effective way. Trust is the currency of the now, not the future.