Does Video Provide an ROI?

Did you know that Digital Video is a very powerful tool in business? Ever notice the games on your iPad or iPhone? Many of them are now using video to advertise to you. Why is that? Because it works.

Product Videos

Video about a product is usually ‘to the point.’ In fact, the most effective videos that are about a product are under 2 minutes. These videos typically contain information that will help a prospective buyer make buying decisions. They include the benefits clearly and support all other material a possible buyer might encounter. Do you want to improve a possible buyer’s chances of buying? The location of the video within the website is more effective if placed near the purchase or buy now button. Once someone has watched the video, he or she should feel confident in making the purchase. If so, you don’t want them looking far for the button to purchase (or phone number, if this is your call to action).

How do you know if Video works?

Good researchers know that calculating cause and effect takes data. Pure data. If you’re going to do a video, you’ll want to know, did it work? One way to determine this is to do some testing before posting the video on your website and after posting the video to your website. Here are a couple of steps to consider: Pre-Test. Measure current data. How long do potential customers stay on a page? Typically people stay on a home page for just enough time to determine – Is this who I was looking for? Can they do what I need them to do? Do they provide the level of professionalism I’m looking for? Can you do the job? Can I trust you? More time on your site may equate to level of comfort and may lead to more sales. But how will you know unless you measure it before and after? Here are some stats that support having online video:

  • 188.2 Million People in the US watched 52.4 Billion Online Content Videos in December 2013. (Source: http://www.invodo.com/resources/statistics/)
  • Professionally produced video optimized for eCommerce outperforms user-generated video (UGC video) by 30%, delivering a 24.7% lift as compared with an 18.7% lift for the UGC video. (Source: http://www.invodo.com/resources/statistics/)
  • 93% of marketers used video for online marketing in 2013. (Source: http://www.emarketer.com/Article/Barriers-Tumble-Video-Marketing-Adoption-Grows/1010374)
  • Mobile is important too! 72.1 million US Smartphone users watched video on their devices at least monthly in 2013. This is expected to rise to 86.8 million, more than a quarter of the US population, in 2014. (Source: http://www.emarketer.com/Article/Long-Form-Video-Content-Rivals-Short-Even-on-Smartphones/1010492)
  • 51.9% of Marketing Professionals worldwide cite video as the type of content with the best ROI. (Source: http://www.emarketer.com/Article/Which-Content-Marketing-Tactics-Best-ROI/1009706)

While we may be biased, the stats are now screaming out, “Use Video!!” If you have any questions or comments, please leave them here, or contact us directly.

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