The Popularity of Online Video Is Speeding Up the Buyer's Journey, and Kicking Sales Into Higher Gear.
If you’re in sales, you know all about sales funnels—those pipelines for generating, nurturing, and converting leads into paying customers.
But did you know video can kick sales funnels into higher gear?
People Like Video. It's That Simple
For years, sales people have been dreaming up bigger and better ways to engage customers. You've probably tried them all—direct mail, flyers, brochures, post cards, radio and TV ads, even hiring one of those sign flippers to dance around in front of your store.
But the truth is, video outperforms them all. It is by far the most effective way to demonstrate products and explain product benefits.
it's also the most popular.
In a recent study by Wyzowl, consumers were asked HOW they prefer to learn about products and services.
The results are pretty eye-opening. Only 3% would choose reading a manual or eBook. 4% preferred a presentation or infographics. 15% said they would read a text-based article.
But a whopping 68 PERCENT said they'd prefer to watch a video.
And there's not much difference between B2C and B2B audiences. According to Forbes, 60 PERCENT of senior business executives would rather watch a video than spend their time reading.
It Begins With Building Awareness
Different CRM systems use different terminology, but every sales funnel begins with building awareness. That’s the top of the funnel, where you’re targeting the broadest audience.
The goal is to generate new sales leads. That means connecting with prospects you do not know.
People who don’t know about your company or your product are unlikely to visit your website (why would they?). So how can you connect with complete strangers?
The easiest way is through social media.
Post videos your friends and followers will click and share. Every like and retweet will expand your reach.
According to research from Brightcove, 53 PERCENT of consumers have engaged with a brand after seeing their videos on social media. And that's all consumers. When you look at millennials only, the number is even higher—66 PERCENT.
Share the Right Video at the Right Time
During the Awareness stage, the most effective videos aren't trying to sell anything. They have one purpose only—to GET PEOPLE'S ATTENTION.
The best top-of-the-funnel videos are short, entertaining and informative.
Examples include How-To Videos, Explainer Videos, Industry Reports, Trade Show Tours, How It Works, Tips & Tricks, Recipes, Man-On-the-Street Interviews, etc.
Start With Broad Information
The second stage of the sales funnel is called Consideration, or Lead Nurturing. At this stage, your audience is more targeted.
Everyone here has engaged with you in some way. They've joined your blog or your newsletter, signed up to receive updates, clicked a "learn more" button or some other CTA.
As a result, you know their name and their email address.
Videos at this stage are more sales focused. Prospects have signaled that they're interested in your company and your products, so videos should deliver that information.
Examples include Brand Videos, Product Videos, Demonstrations, Employee Videos, Factory Tours, CEO Interviews, and more.
Get More Specific Further Down the Funnel
At the next stage of the sales funnel, prospects are actively looking to buy. They're gathering sales information and comparing brands and products.
So videos at this stage should be much more specific—focus on product benefits, new features, and details that help to differentiate your company / product from your competition.
Examples include product videos, demonstrations, customer testimonials, and special offers or incentives to buy.
The Impact of Video On Results
There have been many studies about the impact of video on sales results. For example, according to Internet Retailer, product videos alone can increase likelihood of purchase by 85 PERCENT.
Of course, context is key. For best results, place videos on the product pages of your site. Consumers can see the product listing, the price, and click on a product demo video all on the same page.
Another key metric is "time spent on page." It stands to reason that the more time consumers spend on a website, the more likely they are to buy.
On average, site visitors spend 88 PERCENT more time on websites with video.
This can also improve specific page rankings in Google search results. "Time spent on page" is a key metric that Google uses to determine page rankings.
So, can video increase your sales? Want to integrate video in your marketing efforts?
Give us a call. Find out what video can do for you.