Use Online Video To Improve Sales Funnel Results
Ask Any Online Marketer. The Rising Popularity of Online Video Is Changing Sales Funnel Results.
Many online marketers are noticing an uptick in their sales funnel results. Sales cycles are faster. The buyer’s journey is speeding up. And what seems to be driving this change? Video marketing.
It’s true. Video has become so popular, it’s actually changing consumer behavior.
Let me explain.
The Impact of Video
As every marketer knows, sales funnels are simply a way to visualize the sales process.
They represent the journey buyers take from the time they first learn about a product, to when they finally make a purchase.
So what has changed? It appears that video is speeding that process up.
Because they’re easy to find and can be watched online, videos can be found in just a few clicks. So consumers can move through the sales funnel much faster than before.
Consumers used to learn about products by visiting a store. Reading a brochure. Or seeing ads in a magazine. But those days are long gone. The Internet makes product information available instantaneously.
Of course, Internet speed isn’t the only thing impacting sales funnel results. Online video is also extremely popular and engaging. Most consumers PREFER to learn about products by watching video.
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.
How People Learn About Brands
Every buyer’s journey begins at the awareness stage, at the top of the funnel. But how do they learn about new brands and products in the first place?
You guessed it—video. More specifically, social media videos.
People who are unfamiliar with your brand or product are unlikely to visit your website (why would they?). But they will go on social media, browse posts from friends, and watch whatever video ads catch their eye.
As a result, social media videos have become the #1 way people learn about new products.
And every like and retweet expand your reach that much more.
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.
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, and Man-On-the-Street Interviews, to name a few.
Get More Specific Further Down the Funnel
As prospects move further down the funnel, additional videos will continue to impact sales funnel results.
For nurturing leads, you need videos that are more sales focused. Examples include Brand Videos, Product Videos, Customer Testimonials and CEO Interviews.
These are videos that explore specific features and help differentiate your products from your competition.
Sales Funnel Statistics
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.
All of these an ultimately affect sales funnel results.
If you’d like to know more about developing video content, from brand videos to product demos to testimonials, call us. We can help you develop whatever content you need, as simply and cost effectively as possible.
About the Author:
Harry Hayes is the owner and executive producer at Content Puppy Productions, a corporate video production agency based in Charlotte. Before starting Content Puppy, he spent 20+ years as an advertising writer and creative director.