One of the misconceptions about product videos is that online marketers should create them primarily for awareness or branding. Unfortunately too many marketeers still adhere to this trend: In a survey run by eMarketer.com, 94.6% of US media agencies named “Awareness” as a key objective for their video campaigns, but incredibly only 38% spoke of “Purchase Intent” and a paltry 11% mentioned “Customer Loyalty”.
Product Videos Are Not Just for Branding
Videos are not merely a form of advertisement—they can ultimately help you increase conversions and “close the funnel.” The brick wall that most online retailers run into is statistics. It’s often hard to determine the exact number of new customers that videos attract. Perhaps anxiety and doubt about their effectiveness in optimizing the middle of the funnel has conditioned marketers to eschew videos in favor of more familiar forms of media.
But that is a short-sighted view, especially considering that with Treepodia’s admin dashboard you can attribute sales directly to product videos, and even drill down to the exact video version that’s working best for each product. In fact we’ve recently upgraded your admin dashboard and enabled a full integration with Google Analytics to give you access to even more actionable data.
Product Videos Build Trust
Our own clients have repeatedly seen their sales conversion rates rise double digits when they gave customers the option to see video, even when they weren’t watched!
Product videos work so well because they communicate extremely effectively and succinctly with your visitors, helping to reduce anxiety and dissolve resistances.
Not only does seeing the product in use in real-time, give shoppers a better idea if it will suit their needs, but your investment in what is perceived to be a premium medium demonstrates your commitment to your brand and products. Simply put: Videos prove you trust the goods you sell, that you believe in them, and so in turn, shoppers trust you.
Embedded Product Videos Get Clicks
If you embed a video directly onto your page, its view rate can rise to as high as 35%. Research shows shoppers are more likely (sometimes over 100% more likely) to buy a product after watching a video. Looking to boost sales? Embed your product videos directly on your product pages “above the fold”.
Attributing Product Videos to Sales
As we mentioned earlier Treepodia attributes purchases to the specific version of product video the consumer watched, giving you complete clarity regarding which videos are generating sales. With this information, you can iteratively choose which videos to promote and which to improve, repurpose, or rebuild.
Treepodia’s embeddable player offers an “Add to Cart” button right in the player itself. It allows your viewers to make a purchase at any moment. This is another feature that enables you to attribute a sale to a specific video.
If you’re passionate about what you do and what you sell, start creating product videos and watch your conversion rates improve, all through your sales funnel. Ditch the doubt and start making product videos to increase your sales!