There was a time when all a brand needed to do was to shell money for a well-placed print ad. Today though, brands need to market their wares through various channels, and the content marketing needs for each are different. One such source of brand content is a ‘product video’. Product videos seem relatively easy to make and the format is well received by audiences. They can potentially get you many leads in a short span of time. On the flip side, a good product video can be expensive to make. Though there are DIY options available as well. Depending on your script you need to set aside budget for set, props, graphics, actors and the editing crew.
Before you get on the call with a videographer, let’s begin by asking if your brand really does need product videos? And what can you hope to accomplish by making one?
What does the data say?
In October of 2014, American media research company Levels Beyond did a research on the effects of brands not meeting customer desire for video content. According to the research:
- 59 percent of survey participants said that they would prefer to watch a video on a brand’s site
- 61 percent of those who watched video content said it was because the video had been shared by a friend
- 42 percent liked videos shared online by brands themselves
- 67 percent of survey participants said they liked watching tutorials and how-to product video, while 42 percent preferred funny content
- However, 75 percent of marketers surveyed said that they “rarely or never” produced videos to share online
- The data produced by this research is also corroborated by research from Kissmetrics – the consumer analytics platform that almost everyone in marketing, and their grandmas, uses. According to them, videos perform better at product marketing and the conversion rates can go as high as 144%. This is true across industries, and Kissmetrics data also reveals that consumers who watched a product video felt more favourably towards the brand and were more likely to recommend it to others.
So, should you try product videos?
Look at the numbers again. If 75% of your direct competitors are not yet making product videos, then that leaves a huge window of opportunity open for you. While your peers spend time working the crowd on Facebook and other social media platforms, you can connect directly with your consumer through Vines, Snapchat videos, Instagram videos and YouTube tutorials. If you have the budget, you can get a glitzy 2-minute spot made by professionals. But even on a tight budget, you can do a lot with the help of a good freelance videographer and script writer.
And if you do, what can you accomplish?
Video content can be used in every step of the marketing funnel. From gaining leads to informing your clientele about new product launches, videos can do a lot for your brand. Broadly speaking though, here are the three key objectives of a good product video:
- To aid in direct sales and marketing efforts and gain more leads. As we see above, people love sharing brand videos and you can say a lot about your brand in a minute-long video than through long copy.
- To provide a quick and interesting product or process demo to your target audience. These are known in industry jargon as explainer videos or How Tos and they are great at disseminating information about your brand’s offerings.
- Websites with verbose ‘About Us’ pages are passé now. Enter product videos that give an overview of the company and brand in an easily digestible format.
To video or not to video, the choice is yours!
Ultimately, it all boils down to what you think is right for your band and how best you can leverage the visual format to tell your brand story. Maybe, these words of encouragement from Michael Litt, CEO and Co-founder of Vidyard will help you make your mind.
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