Can Videos Really Increase Customer Acquisition?

March 18, 2019

We can’t deny that in this generation, technology has become a surefire staple in our daily routines. Moreover, we can definitely agree that majority of the organisations out there – whatever their nature of business – are tapping into this digital pool of opportunity to increase sales, awareness, and even talents.

This leads us to the point of Video Marketing. How exactly do video and customer acquisition tie hand-in-hand? Videos ranging from customer testimonials to product reviews are always viewed as a ‘more compelling medium’ for customer pools.

 

Online Traffic of Videos

According to various sources, video increases an audience’s understanding of businesses by up to 74%, and roughly about 30% of everyone’s online activity consist of watching videos. This means that one-third of all online traffic is solely based on viewing videos!

Furthermore, the normalcy of video production has also increased, as according to Hubspot, over the next several years there will be so much video traffic that it will account for roughly 74% of all web traffic.

This increase in not just the use of video, but the reception of it has inevitably led to many organisations picking it up as an ‘essential marketing tool’ to boost customer acquisition – drawing the direct link of an influx in web traffic to conventional customer interest.

 

Searchability

But in this myriad of traffic, it is also important to ensure that your video provides significant value than just being there for the sake of it, because when potential prospects are researching your product or service, having videos on your website catches their attention and gives them another way to interact than just reading and understanding through text. Also, adding videos to your website you will improve your SEO performance for the keywords associated with the video.

 

Targeting Relevant Customers Easily

According to Unbounce, it is precisely because of this searchability engagement that sales conversion rates can help find better lead more accurately. This is because customers acquired through these videos are normally higher quality leads as compared to paying customers due to the video being a measurement tool based on their engagement – ie. the longer they watch the video, he more likely it is they are interested in your business, or to find out more. By showing customers your product and/or service in a visual way, it allows consumers to see your brand style and saves them time from ‘research’ as well.

 

A Step Further – Customer Retention

People are more likely to feel obliged to purchase your service or product when they feel that the video has connected with them on a personal level.

Taking a step further than just measuring statistics for customer acquisition, it is also equally important to ask ourselves – what then?  “Leads are 64% likely to purchase your product or subscribe to your service if there was an inclusion of a video”, is what a study by KissMetrics claims, and their justification is that it gives the customers a sensing of what your brand is, in a personalized, digestable format – which is video. In other words, a customer who is already emotionally connected with your brand through video, cuts the traditional ‘good CRM experience with the Customer Support Team’ out of the picture, and gets the job done quicker. (The author stresses that Customer Support and CRM is not null and void, just that a ‘shortcut’ method can be achieved through video marketing your brand). So, videos certainly do have the opportunity to increase trust in your product or service, when done right.

Check out this video we produced for Cendyn and Minor Hotels which explains the power of CRM and how our video helped deliver that message in a digestable and appealing format!

Ergo, the use of videos as a marketing tool is essential in helping a business in boosting their business, as well as their brand image. At Mediashock, we take videography – all forms of it – very seriously as we honestly believe that video marketing is no longer the future, it is the now. We hope you’ve enjoyed this week’s edition of our bi-weekly newsletter! Do share any comments or thoughts with us if you feel that you’ve learnt something positive in the comment box below!

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