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October 3, 2015

Product Explainer Videos – What’s the Big Deal?

 

How Product Explainer Videos Boost Ecommerce Conversions

 

Sometimes it takes much more than a picture and a few lines of text to fully display the value of your product.

When it comes to these situations, product explainer videos are pretty hard to beat. They’re an excellent way to blend digital video with music, all in order to entertain while you run through a product description that would have taken pages of writing – all in just a few short moments on film.

That’s a very important thing to remember – these videos are designed to be short. This is how you transform a page of bland, written text into 45 seconds of value-rich and highly convertible content. While they may be short, these types of video work. It’s well-known that expertly produced explainer videos can aid search engine rankings, boost conversion rates and even increase sales.

Why? Well, it’s very hard to go into great detail and almost impossible to tell a story in your standard written product description. That is, unless you’re hedging your bets on your audience being willing to sit down and read paragraphs of content for each product.

I agree, that’s pretty unlikely too. Fortunately, product explainer videos let you go into great detail and tell a story – all without losing your audience to time constraints or boredom.

But how exactly do they do this… and how do I know if a product explainer video is the right way for me to go?

 

Why Product Explainer Videos Work for Ecommerce

 

Emotional Engagement at the Point of Sale
One of the greatest aspects about product explainer videos is the infinitely increased depth and breadth of emotional appeal you can achieve, relative to written product descriptions. In the case of the latter, you are very limited by length and attention span. When it comes to video these factors are suddenly far less important due to the value-rich nature of the format.

This gives you the opportunity to go far beyond simply describing the product. Now you can place an emphasis on telling a story about, or with your product in a way that allows you to form an emotional connection between the prospective consumer and your brand. A good story finds common ground with the target audience in order to facilitate the delivery of a marketing message that resonates directly with those targets.

Think about the countless GoPro videos you’ve seen over the past few years. While they’re on the extreme end of absolutely kicking ass with this tactic, maybe that simply makes them the best example. Every one of those videos is as much of a story about something totally awesome that someone did with their GoPro as it is a direct advertisement for their product.

 

Increased Recall = Lower Cart Abandonment = Higher Revenue
It’s a fairly well known fact that a strong explainer video does wonders for increasing consumer recall across a range of time latencies. According to the Online Publishers Association, 80% of internet users can clearly recall a video ad that they watched on a website up to 30 days later.

If a product explainer video can stick in the memory of your prospective customers for an entire month, just imagine how much it could do to help folks retain their value realization through the checkout process. That’s less abandoned carts right now. Let’s not forget about the folks who will remember your video some time over the next month and get that final nudge they needed to return to your site and complete their purchase.

ComScore has also reported that visitors to online stores are 64% more likely to make a purchase after watching a video. These same users are also staying on these Ecommerce pages up to 2 minutes longer on average, as compared to users who did not view a video on the same page.

 

Buyers Are Conditioned to Expect More Than Traditional Ecommerce Pages Deliver

 

While this specific aspect of the current buying market for all sorts of products may change over the next few generations, it still holds very true today. In a market where buyers age 33-44 possess several times the net worth of those younger than 35, and those age 44-65 hold magnitudes more than the prior group it is incredibly important to keep in mind exactly who it is you’re likely selling to. Obviously this can shift somewhat if you have a product or service that is tailored specifically to a very young age demographic.

Otherwise, you need to do your best to appeal to the conditioning many of these folks have had over the course of their lives regarding the shopping “experience”. In a brick-and-mortar retail location you’re absolutely inundated with sensory stimulation. Even in places that don’t go absolutely overboard with this you’re still touching, manipulating, smelling, hearing, etc as you browse for something to buy.

Now that you’re in that mindset, think about how insanely different the standard shopping process is on an Ecommerce website. It’s easier to find ways in which they are different than it is to find ways in which they’re the same!

A concise product explainer video with professional voiceover and music appended to it does an enormous amount of work to bridge this gap between what we’ve been conditioned to expect from a sensory perspective with what we’re being presented. It facilitates a mock-handling of the product through multiple angles and demonstration, while the audio helps to flesh out a much more engrossing shopping experience than would have been possible without the video content.

 

Does My Ecommerce Store Need a Product Explainer Video?

 

Based upon the above – yes, it most likely does. But there’s much more to it than just that. An even more important question to ask yourself will always be, “Am I ready to commit to explainer video content as part of my marketing scheme?” More often than not, this matters much more from the perspective of actually running a business.

This first thing you need to assess is whether or not you have the traffic and conversion rates to justify investing a fairly significant amount of money into having product explainer videos produced for your site. Without any traffic going to your pages, these videos aren’t going to be doing a whole lot for you. It’d be like building a damn for a river that doesn’t exist.

Likewise, if your conversion rates are already very low there may be other things you need to attend to in regards to your overall conversion funnel before you invest in video content. If you’re losing leads or potential sales higher up in your funnel, they will never reach your videos to begin with. Video content helps to boost moderate conversion rates through the ceiling, it will not miraculously fix those of a website that has a litany of other conversion-related issues already.

The tacit nature of your Ecommerce operation should also be taken into consideration as this may shape your decision to purchase video, or shape the video content itself. If you have a site that sells thousands of different widget-related products, does it make sense to have video created for every single product?

Unless you’re the most profitable widget shop on the entire internet, probably not. But what if the Red Widget Deluxe Model 3 outsells all other red widget products by several magnitudes? In that case, I think the Red Widget Deluxe Model 3 may deserve a little explainer video to help send those sales even higher.

Or what if you have a website which sells a moderate number or products, with little difference in sales numbers between these products? In that case you may want to consider content for each product. In order to keep costs reasonable it may make more sense to make very short videos for each product, just a quick elevator pitch. But how much can you cut out without compromising your brand?

 

Scene, End

 

While it’s very clear that explainer video content can be hugely beneficial to your Ecommerce operation, make sure that you consider the specific application to your shop before you dive in. Video can only be right for you if what you’ve got going on is right for video.

Don’t forget to consider:

  • Do I have the traffic coming to my site to justify investing in video content for this traffic?
  • Do I have issues with my current conversion pathways that could disrupt or prevent users from reaching my video content/getting the most out of this video content?
  • What approach would make the most sense within the context of how my shop already operates/is structured? How can I get the most bang for my buck?
  • Speaking of bucks…do I have the budget for explainer video content to being with?

The potential benefits are huge, you just need to make sure it’s the right fit.

October 3, 2015

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