How Video Content Can Boost Profits

Why video is the most effective way to get your message over…

Research has shown that people remember only 10% of what they see or read and just 20% of what they hear. Before running screaming out the door, consider this additional fact; 50% of people will remember what they see and heart at the same time. Cue video content and a quick step on the road to better brand retention. But, while a recall rate of one in two is a convincing enough reason to consider video production as a way to boost sales, there are other ways that a video or collection of videos can assist with sales and marketing and ultimately, a healthier bottom line.

A picture is worth a thousand words: Multimedia content is considered a much better catalyst at the crucial point in the buying cycle for the simple reason the viewer can see the benefits for themselves. That’s why some studies suggest retail sites with product videos can increase their sales by as much as 30%.

Seeing is Believing: Video content builds a level of trust and credibility that is hard to attain through text or still images; consumers can build a rapport with the business through this content, instilling a sense of mutual interaction and involvement. One reason for this is that 60% of consumers are thought to prefer video to text based content. That means they stick around longer to actually absorb your marketing about the product.

Using optimised video content is as close to communicating live with someone as possible for many businesses, and this standard of almost personal interaction often results in sales increases and profit boosts.

Number Crunching: Sales are often said to be a numbers game. YouTube logs around 4 billion hits per day. According to Experian Hitwise, Brits spent an additional 100 million hours watching video content online this February compared with last and the number of UK hits to video sites expected to rise to 1.25 billion per month by February 2014. In contrast, sending a team out into the field at a trade show or onto a high street localises the impact that a marketing push can have.

Video content can go viral overnight and be exposed to millions across a much broader area. Still need convincing? The electronic cigarettes brand e-lites made a Gangnam Style video that didn’t mention it’s product, show a cigarette, talk about its product or explain how to use it due to strict anti-tobacco advertising regulations. It counted more than one million views in two weeks and a massive product buzz that would have been hard to generate on a similar scale using other mediums.

Cost Cutting: Video content can also have the effect of cutting operational costs, which effectively boosts the profit of an organisation. Sending sales staff to different locations to demonstrate a product or service might be effective to a point, but the costs incurred via expenses take large chunks out of a budget. A ‘How-To’ clip can have the same promotional effect for nothing more than the cost of outsourcing video production.

It’s Almost as Good as Being There: Adding video content to a company website or a social networking feed also allows for a greater level of interaction with consumers. A ‘clinic’ style video, in which clients send in their queries or problems to be answered by a company expert can ignite an exchange between consumer and company which can prove beneficial in the long run. A company which is approachable, with easily accessible content and easy-to-consume promotional material will always find a higher level of success and profit than a business which is out of touch with their core client base.

If you’re thinking of getting yourself up there by using video content to boost sales then we’d love to help. We’re a trusted video production company based near Birmingham in the West Midlands. Speak to our friendly experts today on 01527 910050 or contact us using our form.