Power of Video
In today’s digital age, the use of video as a marketing tool has become increasingly popular, and the data surrounding its effectiveness is quite compelling as it allows the audience to be captivated in a way that other mediums cannot achieve. Nomadigo recognized this early on and decided to help brands market and sell their product in the most efficient way possible. Over 70% of marketing professionals believe that video converts better than any other medium. (MarketingProfs). This is a staggering figure, and it speaks to the power of video as a means of communication. Thus, it is crucial that businesses who want to improve their sales and engagement make high quality video a part of their marketing strategy.
VIdeo in B2B
For business, data reveals that using a video pipeline dramatically increases conversion. The reason for this is that after watching a video, 65% of executives have visited a vendor’s site. (Forbes) When they hit the website or landing page with another video on it, conversions can increase by 80% (Unbounce). Out of those executives, 39% have gone on to actively reach out/call a vendor (Forbes). These are substantial numbers and prove its importance in generating leads and pushing sales through the pipeline. 96% of B2B organizations use video in some capacity in their marketing campaigns, of which 73% report positive results to their ROI (ReelSEO). Moreover, video is an effective means of increasing engagement and retention on a website. The average user spends 88% more time on a website with video (Forbes), and video users see 27% higher click-through rates and 35% higher web conversion rates (Aberdeen).
Customer Self Education
This means they are spending time educating themselves, rather than pushing that burden onto your salesforce. This results in changing the sales engagement from one of a push by a salesperson to a pull, allowing your sales team to service more clients better, and focus their time on what is truly important; building the relationship and closing deals. On average salespeople not utilizing video in their sales pipeline spend almost 18 hours a week on educating customers. (Nomadigo) If the average salesperson earns $50 an hour, this translates into $3700 a month; equivalent to roughly $43,000 a year per salesperson in time not utilized effectively. When this is multiplied out across a sales team, founders, and others in the company; the costs are staggering. By using high-quality emotionally engaging videos to reduce repetitive parts of the process you increase the connection to the brand and the message. While in the process saving businesses the salespeople’s expensive time. The ROI for a video or a full video funnel can easily be covered by the dramatic improvement in sales efficiency of the sales and management team. So next time someone says there is no budget for professional video production - ask them the more important question; Can they really afford not to set aside a budget for an asset that will improve everyone's capabilities?
Conversion
Engagement
Businesses are often concerned about engagement because more often than not, the videos they produced in the past were done with small budgets and were not compelling enough. Nomadigo has produced B2B video funnels with an average of 3.5 videos consumed per person, per click. The reason videos have higher efficiency in engaging customers is they are the preferred method of education consumption as opposed to text or advertisements. Fully 59% of senior executives would rather watch a video than read the text if available on the same page (Forbes Insight), indicating that video can be a powerful tool for decision-makers and establishing business relationships.
Decision Making
In addition to its impact on lead generation, video can also have a significant impact on the decision-making process of consumers. Videos have proven themselves as an effective means of building trust, awareness, and loyalty with potential customers. Fully 52% of consumers say that watching product videos makes them more confident in purchase decisions (Invodo). Consequently, they also help customers feel that their risk is reduced when making a purchase. In terms of B2C at Nomadigo our videos have generated over 600M views. One of our video campaigns achieved a unique CTR (Click Through Rate) of 15.5%, which is more than 10x the average of less than 1.0%. We script, format as well as edit our videos to be captivating and appealing to keep our audience fully engaged, and waiting for more. Overall, we have seen engagement rates 7x better than industry averages.
Our video messages are simple, yet speak emotionally to the benefits the customer gains from the product, making them highly effective, and enabling us to achieve the results we have so far.
Consumer Recall
Video significantly impacts recall rates, with viewers retaining 95% of a message when they watch it in a video compared to 10% when reading it in the text (Popvideo). This means that video can be a powerful tool for conveying important messages and ensuring that they are remembered by the audience. More than 80% of users recall a video ad they viewed in the past 30 days. (Rendrfx) By staying in the audiences’ minds for long periods of time brands gain a sense of familiarity, thus inclining the buyer to choose them, as opposed to their competitors to whom they have been less exposed. Additionally, of people who used professional videos for marketing, 81% saw an increase in sales, and 53% said support calls were reduced, suggesting that video can drive sales and reduce customer support costs (OptinMonster).
