How Much Does Video Impact Your Conversion Rate?

Videos have played a crucial role in marketing ever since they came on the scene, even in the form of traditional TV ads. Ever since digital marketing came on the scene, the demand for quality videos has gone up. There is no doubt that videos play a strong role in increasing conversions much more than any other method.

Therefore, video ads, testimonials, product videos, explainer videos, tutorial videos, etc., have all been quite successful in achieving good conversions. Placing videos on landing pages increases conversions by 86%. Even websites using video have 4.8% conversions compared to the 2.9% conversion rate on text-only websites.

Videos have been highly successful in improving brand awareness and reputation, apart from attracting high-quality leads. Those companies who understood the importance of videos have been able to increase their revenues by 49%. Interestingly, a survey of consumers reported that 84% of consumers bought a product/service after watching a video.  

The video impact on conversions

Here’s a quick look at the impact of videos on converting a lead into a buyer –

1. People remember 95% of video messages compared to 10% of text-only ads.
2. At least 50% of consumers watch the product/service explainer videos before or after the purchase.
3. According to a Forbes survey, videos are shared 1200% times more than links and articles combined.
4. As per Smart Insights, 80% of customer journeys begin with a brand YouTube video.
5. After watching videos, 69% of consumers buy an app or program subscription.
6. A low-quality video can drive down the brand’s reputation among consumers.

Optimization strategies to increase video conversion rates

Videos surpass other methods in increasing conversions, but they should be well-optimised to get the desired results. Let’s take a look at these optimisation strategies – 

1. Video type: The video type chosen should be according to the desired outcome. There are many types of videos, such as story-telling videos, explainers, testimonials, product videos, promotional videos and more. These videos can be made and tested in parallel across multiple platforms to understand viewer engagement.
2. Video placement: You must choose the best place to place your video. This could be your landing page, social media, email newsletter or others, depending on where your customers are present more.
3. Clickable links: Adding clickable links makes your videos more interactive. You can even embed lead capture forms at different points in the video.
4. Marketing automation: It is very helpful in gaining insights about your viewers and performing audience segmentation, lead nurturing and ROI (Return on investment) tracking.

Make high-conversion videos by – 

1. Using the services of professionals.
2. Creating short and entertaining videos in story formats.
3. Creating customised thumbnails.
4. Build customer trust by placing videos on websites or product pages.

All along, we’ve seen the importance of videos in turning around your business fortunes. This trend, along with new advancements in video technology, will further revolutionise the way businesses operate and stay profitable. 

Namesake Productions is the best video production company in Hyderabad, with years of experience producing some of the finest personal and corporate videos in the industry. Thus, if you’re looking to build your brand and increase revenues through video-based marketing solutions, we’re there for you. Just give us a ring or fill up the form on our website.