Posted by: Laura Hills, Vice President, Marketing
Have you ever viewed a video on another company’s website and thought, “this video does a good job of talking about the company and its products? I wish we had one.” Companies are using short, concise and visually appealing videos to explain not only their products and services, but to convey who they are. They’re called ‘explainer videos’ and they provide information to customers and potential customers so that they understand what the company is all about and why they should do business with them.
Here’s an example of a video that we created to explain who Dydacomp is and to explain the benefits of order management systems. It’s just over a minute, yet it captures what we do and why that’s important to the retailers who we serve.
We chose to work with a video design agency to capture our messages in an animated format. Many of our retail clients are producing their own videos to explain the products they’re selling through their eCommerce store. A video doesn’t have to be fancy. It needs to be accurate and to the point. By using the power of video to visually convey your message, you will help your customers increase their understanding of your products and move them closer to wanting and selecting what it is you offer. Videos can motivate buyers and help to create a competitive advantage for you.
Video agencies will tell you that your ‘explainer video’ should be under 90 seconds. Effective videos can be 30 seconds or 60 seconds in length. Think of how you would describe your products in one minute or less and visualize this in video format.
The format you choose is a matter of personal preference and budget. One of the most popular and effective ways to explain an idea is with an animated video – like the Dydacomp video you viewed. These simple videos are developed through a process that begins with messaging. Once messages are developed, a script is written for a voiceover artist or one of your employees to convey the message in the time allotted.
Kickstarter, the world’s largest funding platform for creative projects says that projects that use video have a 50% vs. 30% rate of funding and they are used by companies of all sizes, across all industries and are helping to attract and convert shoppers. This type of video increases conversion rates. By helping the consumer to fully and quickly understand what you do, you are more likely to get them to take the next step sooner rather than later – and isn’t that what you want?
According to Dr. James McQuivey at Forrester Research, a one-minute video conveys the value of 1.8 million words. That’s pretty amazing! Studies confirm that we retain more information when more than one of our senses are engaged and we are also more likely to recall more of what we saw and heard. A recent survey by Forbes of C-level business executives indicated that 59% of respondents would rather watch an online video than read text covering the same information on a website.
Some other reasons for using video in your marketing strategy:
- Increased ROI on site traffic
- Better rank in Google Search
- Easily shareable and always on
- Grabs the attention of your audience
- Customers prefer video
So how can videos help you grow your retail business? Short, concise explainer videos are typically more budget friendly and will result in more traffic for your site. Creating one and making it available on your website is an investment that will pay dividends for quite a while.