Explainer Videos Gaining Popularity Among Startups
You may have experienced that the average online attention span of your audience is falling. In 2015, TIME magazine summed up the problem in an article aptly titled, “You Now Have A Shorter Attention Span Than A Goldfish.” Statistically, 17% of you are about to click away from this article, as you’ve already read for 4 seconds. However, if this were a video instead of a text post, you would stay longer. That’s key information for marketers competing in a landscape where engagement is the currency. This is affirmed by Aberdeen’s latest report, which found that “marketers who are using video are seeing (on average) 49% faster growth in revenue.” Explainer videos are the best way to attract and engage your audience and can provide as much as an 80% boost in conversion rates. Even small increases in conversion rates can make a big difference in profitability. Kale points out that Dropbox was able to increase their conversions by 10% simply by adding an explainer video. This translated into 10 million additional users for the file hosting service.
Dropbox was able to raise an additional $48,000,000 in revenue from this short but attractive explainer video.
What exactly is an explainer video — and how startups can benefit from it?
Most people are too lazy to read the entire text on your website or landing page. A short video can hook your prospects and help them understand your value proposition. As a result, your sales cycle reduces — due to the educational effect of the video — and you generate more qualified leads. Including a video on a landing page can increase conversion by 80%. In addition, Google and other search engines rank pages with videos higher than pages without video. A good explainer video frees your sales team to work on closing high-quality prospects rather than repeating the same pitch over and over again to potential clients.
Explainer video attracts larger audiences, it is also able to explain, simplify your products or services, and maintain your relationship with your customer. The added bonus of having an explainer video is, it diversifies your promotional channels
How An Explainer Video Can Be In Rescue?
Well, here is 8 reasons why.
Using an explainer video is an excellent way to assist potential buyers without having them read a lump of text. This is the case especially when you have a complex product or service and you find it difficult to convey to your customers the exact value that your product or service offers to them.
1. Presenting (visual interaction)
The visually attractive features offered in explainer video act as a visual aid, luring your consumers’ attention and as compared to other marketing tools in the market an explainer video has proven to be 43% more persuasive!
2. Retain viewer attention
People retain up to 50% more information if they learn it through a combination of visual and verbal cues. And explainer videos preserve viewers’ attention up to 70% of its total duration.
Give people access to reach you. If they are given a choice, I assure you they will deliberately pick a visual channel to connect with you.
Since many of us resort to a visual explanation due to its convenience. And many of us are visual learners.
4. Videos have the highest ROI
Video works well as a long term investment and video out of all different tools to help you campaign your marketing strategy has been proven to be the most cost-effective.
5. Conversion Rate
70% of people Google about a product or service. If you can pitch in your product or service well, they most likely will make a purchase within 24 hours window, which means an increased conversion rate!
6. Stretch The Duration
Time spent on average when your prospective consumers visit your social media or website is around 10–20 seconds. The first 20–30 seconds are crucial to pitch your product or service. If they have no reason to stay browsing your social media or website they most likely will go.
But, if you have an explainer video embedded to your social media or website you can stretch that duration from 20 seconds up to 60 seconds.
Video tends to get shared rather easily. Similarly to building bridges, video connects you with your consumers in a similar manner.
8. SEO friendly
Google engine loves video content. Google for their rankings rates the average time spent on every time your social media or website is visited by your consumers.
Having an explainer video embedded to your social media or website could stretch the duration your consumer spent on your social media or website. This will send a positive message to the search engines, and it helps your content appearing higher in searches and you’re 53 times more likely to show up first on Google rankings.
Why Explainer Videos Are So Effective?
So why are explainer videos so effective?
1. They’re concise. First off, explainer videos are concise. In the words of Robert Weiss, “Business decision makers LOVE online video because it gives them the most amount of information in the shortest amount of time.” They’re generally only a few minutes long, which means your customers won’t have an easy excuse to bail early. Writing for such a concise format can be difficult, but the end result is a message that’s short enough to really hit home with your audience.
2. They show a problem and a solution. Video progresses linearly with time, which means you can show a chain of causality from problem to solution. Illustrating how your products or services solve a customer need is incredibly valuable for securing more conversions. You can accomplish this through written content, but it doesn’t have the same effect.
3. You can get creative. The best explainer videos are ones that aren’t afraid to creatively experiment. You can write jokes into your script or play with innovative animation features. You can even include some interesting music in the background; this is your chance to give your audience a memorable video watching experience. According to David Levy, Nuvakhov’s business partner and COO of LNC Productions, “a video that surprises people, or otherwise delights them, will stick with them indefinitely. It’s a chance to get inside your customer’s mind and stay there if you have the right creative team to make it happen.”
4. They can be used anywhere. Once you make an explainer video, you can use it in a number of different contexts. You can keep it on YouTube, you can embed it into the homepage of your site, you can use it as a feature of your landing page, or even incorporate it into slideshow presentations. They’re short and universal enough to transfer easily.
5. They’re an approachable medium. Though there’s a slight learning curve, explainer videos are an approachable and learnable medium for marketers. You don’t need to spend years studying them or thousands of dollars to make one. That’s probably why 65 percent of marketers are planning to increase their video marketing budgets.
6. They’re useful for new and old customers alike. Even though the primary function of an explainer video is to reach new audiences, they can be useful for established customers as well. This is especially true if there’s a learning curve with your products and services; the explainer video can serve as a kind of tutorial. As Savannah Stewart explains, “many of us have become more comfortable learning visually. Delivering information on a product, service, or company through video can help to keep your audience’s attention longer and make what you have to say more easily understood.”
7. They’re adaptable. Because they’re short and relatively easy to edit, you can switch things around quite easily. For example, if you launch a new feature, you can add a few extra seconds at the end of the video to promote it, or if you want to experiment with different music or a different narrative, you can.
8. You can show your brand personality. You can let your brand’s personality shine throughout the video; you can write it in the tone of your script, include visual styles that reflect your character, and even choose a narrator that best represents your brand “voice.” In fact, more than a third of all video marketing budgets are now directed toward branded videos.
9. You can show off the benefits first-hand. Thanks to the visual and running nature of video, you can show off the benefits of your product or service first-hand, such as with a brief product demonstration or a walkthrough of your software. This helps people see what they’re buying and will put many of their doubts to rest.
10. You have a chance to prove your worth. Explainer videos also give you a chance to prove your value as a brand with visually represented statistics, video testimonials, or the mention of some big brands you’ve worked with.
Still, have a doubt why videos are important for businesses? Let’s put the statistic to perspective.
Remember 82% of internet traffic will come directly from video consumption. This translates to a major market share of video as a new commodity.
It will be a pity if this will be a missed opportunity if you are not leveraging the statistic for your company gain.
To recap: Having an explainer video can help to spread your company’s brand awareness, build a strong consumer and company relationship by maintaining clear and direct communication and letting your company personality to speak for itself.
Do you think this post helps you in addressing your doubts on the importance of explainer video for business? Would you kindly let me know in the comments section below!