TV commercials. Billboards. Newspaper advertisements. Direct mailings. Door hangers.
A new study by Demand Metric shows why video is better than most all other forms of marketing and advertising. The study weighed more towards the B2B audience, but the takeaways are just the same.
The Video Content Marketing Metrics Benchmark Study asked 295 businesses that were using video about the ROI they are getting from their strategy. More than 70% responded that, in terms of conversion rates, online video gets better results than traditional approaches to customer acquisition. About 8 in 10 video marketers said their programs were somewhat (60%) to very (17%) successful.
Here are 5 reasons why videos is so effective…
1. Personalization
Walkaround videos are a 1:1 communication. Video allows you to personalize that 1:1 communication, while offering a complete personal experience. Something that rarely happens anymore.
You’re not treating the customer like they’re a number in line at the DMV. You are taking the opportunity and addressing your prospect by their actual name while showcasing exactly what they are interested in – on video.
2. Targeting
With video, you can SHOW clients the information and data they are looking for; while doing so quickly.
Sending a prospect a personalized video of like vehicles in your inventory is extremely effective for short term and long term targeted follow-up.
When most sales representatives are struggling over which email template to send next (if any at all), sending your prospect a personalized video sets you apart from the competition and significantly increases your response rate and sales opportunities.
3. Interactivity
A well put together video can be a real conversation starter. With the increased engagement rate you get from video, transitioning the customer to the phone and appointment becomes more effortless.
Nothing short of an actual face to face visit, video is the ultimate digital ice breaker and the start of a great conversation and relationship.
4. Real Time Reporting
Most video services provide real time reporting. The most important stats are obvious – who has opened and watched your videos.
Did they watch the video all the way through or bail out early?
Real time reporting can not only gives you the ability to make decisions on how and when to follow-up, but can also be used to improve your process and videos in the future.
5. Wow Factor
Junk mail is junk mail. A door hanger is a nuisance. Nobody reads print ads anymore, and TV is prohibitively expensive for undetermined results. By contrast, video is a genuinely interesting and useful experience for clients – for a tiny fraction of the cost.
Let’s face it. We have all become quite numb to the “usual”. You really need to WOW people anymore in order the grab and keep their attention. What’s better than video to get the job done? Nothing.
Get the most out of your marketing budget by using video to create a distinct, lasting impression with prospects and customers. Once you get past the camera shy phase, you quickly realize how much easier and effective video is.
Have another reason to add to this list? Sound off in the comments.
How has utilizing video helped you achieve success at the dealership?
