How To Use Video Content As a Tool For Boosting Conversion Rates
Conversion rate optimization for video.
Author: Larry Lubin, October 23, 2018
What business objective should you dedicate your video marketing efforts toward? You might name any purpose except conversion rate optimization and direct sales.
Many marketers see video content as a brand awareness or interest-stage tool in the buyer funnel. This is where they either serve as attention-grabbers or indirectly guide buyers to a sale.
But video can be a powerful tool in getting customers to hit “add to cart”. It just has to be used in the right way.
Today, we’re going to discuss how you can use video content as a means of boosting conversions, and what conversion rate optimization techniques will improve the success of your videos.
Video Doesn’t Sell – A Myth Debunked
We mentioned in the opener how many business owners don’t see video content as a reliable method for selling products. They view video as a way to bring people to their site.
But there is so much more than can be done.
One study found that people who watch a product video are as much as 85% more likely to purchase that product. A 2017 report for Tubular Insights revealed a 64% lift in purchase intent after audiences watched a branded video. So with these numbers in mind, we can start to visualize video as a powerful sales driver, whether this effect is direct or indirect.
The belief that video doesn’t drive sales likely comes from the fact that so many videos are poorly optimized to sell anything. They’re either high-concept spectacles created with the hopes of winning awards, or quirky spots made with the intent of becoming viral sensations. Neither of these tactics are done to meaningfully boost sales.
That’s why it’s essential to focus on the right video structure because it is the video format and its embedded content that will make or break sales.
Fantastic Video Formats For Boosting Sales
So exactly which video formats work best for sales and boosting conversions? Although we could argue that any format will do the trick if used correctly, some formats will work better than the others.
Product Videos (for eCommerce Stores)
Relying on run-of-the-mill product descriptions? Consider putting them in motion. With video, you can demonstrate your products in a much more compelling way than any adjective or turn-of-phrase.
You can show them in motion, zoom in on particular features or even visualize their benefits. This is powerful because human beings are generally visual creatures. Remember the quote, “seeing is believing” – shoppers are more likely to buy something they can see as opposed to what they can only imagine.
Tutorials & Demos
These kinds of videos are similar to the product videos mentioned above, but they’re more in-depth and often more technical. Tutorials or demos are great because they show how one can use a product or service in their daily lives.
In a way, tutorials project a product or service into the life of a viewer, creating a sense of usefulness and comfortability with the offering. They also come with the added benefit of teaching the customer how to use an item beforehand seeing all its useful possibilities. All of these features can dramatically increase the likelihood of someone buying a particular product or service.
One of the reasons why most marketing and advertising falls short derives from the fact brands that treat people homgenously as “the customers”, rather than as unique individuals. Personalized content is unique in its ability to establish a one-on-one connection.
With personalized video, you are able to address the specific needs of a specific person. Not only is that empowering for the customer, but this technique is also more likely to sell an idea or product because the customer feels their needs are being considered.
Our IndiVideo platform can help you create personalized videos that will better answer your customers’ needs and boost your conversions.
Remember, videos come in all forms and formats. When your objective is driving conversions, it is imperative that you choose a format that belongs lower in the buyer funnel. With that said, you also need to know what elements to focus on within a video to make it a conversion-generating machine. That’s where conversion rate optimization techniques come into play.
Conversion Rate Optimization Techniques To Use In Videos
So what are these conversion rate optimization (CRO) techniques? You may have heard these concepts and tactics in the past. Many of them are used in other forms of content such as landing pages, lead capture forms and even certain types of blogs. Let’s see how they apply to videos.
Video On Landing/Homepage & CTA
A text-heavy homepage or landing page will turn some people away. Throw a video on that page instead and you’re more likely to get those same viewers to stay on the page, which can reduce your bounce rate significantly.
Of course, you must optimize that video as well. You need to ensure that it’s the right length and most importantly, you need to add a compelling call-to-action. Think of the call-to-action as the climax of your video – everything before it should lead up to that moment.
Yes, you can and should split test your videos where possible. How so? Start off first with splash images and thumbnails. The modern viewer and their short attention span will judge whether a video is worth watching just by looking at the thumbnail, so it pays to choose the right one. A split test can help you figure out which one is best.
You should also split test video CTAs, especially if you have buttons. Items to test include colour, copy, font and size since they all produce different emotional responses. And considering the importance of the CTA, it’s vital for you to know what your audience will respond to best.
Now when it comes to video content, split-testing becomes tricky. So the simple way to test whether your content is working or not is to review your video metrics, identify what should stay or change based on the data, and adjust accordingly.
Ultimately, marketing is about solving problems, not necessarily selling. Answers resolve questions and questions usually present problems. The point here is that answering questions positions you as the provider of a solution to a problem. That, in turn, makes it easier for you to sell your product or service.
For example, Zappos has used a Q&A format for years now, and it’s increased their sales between 6-30%. So take note. If you sell a product or service in a complex industry, your audience will likely have many questions. Answering these questions will keep them engaged and build trust in your brand, which can translate into a higher conversion rate.
Video As a Money Maker
Video content can (and should) thrive at all levels of the buyer funnel, not just the top or middle. A strategically-created video that uses the right format and time-tested conversion rate optimization techniques can help you get more buys, downloads, and subscriptions.
They’re perfect for the job when dealing with short attention spans, demonstrating a highly technical product and for building trust. So don’t focus too much on creating videos with the sole purpose of making a viral hit. You can reach your customers more effectively by optimizing your video content for conversions.
Since 2003, our tools have helped the top North American financial institutions, including wealth, banking, and insurance, to create empowering and competitive digital financial experiences. We’re revitalizing financial tools and services to help your customers make active financial decisions with absolute confidence in your products.
Larry Lubin is founder of BLUERUSH and has over 30 years of experience providing strategy and solutions to many of North America's leading financial firms. Many leading applications for financial institutions were developed by Larry and teams he has worked with throughout his career.
As CEO of BLUERUSH, Larry is providing a much needed vision for a new age of FINTECH bridging the realities of legacy and the regulatory environment with unlimited possibilities through advancement in digital technology to empower the consumer. BLUERUSH is a digital solutions company specialized in financial service and healthcare solutions.