There is a lot of news out there about the massive reach of online video. It seems like every day, viewers are breaking online records.
But for marketers like us, we’re constantly working on proving the ROI of our online efforts. What are we going to get for the extra effort and dollars that we’re putting into this new lead generation content?
But when the top internet marketers in the world start using it, there’s definitely something there.
After talking to an acquaintance of mine yesterday, I decided to take a gander at some of the statistics on the other end of awareness and viewership – conversion.
Here are some facts that I’ve gathered from some of the top names in online video. You don’t have to take my word for it, you can take theirs.
- Email with video can double your clickthrough rates. Andrea Yeaman from StyleCampaign reported that adding video doubled clickthrough rates from between 20-27% to 50-65%.
- Video screenshots in email and give you a 175% increase in clickthrough based on data from Smart Market Movie. In the same report, Constant Contact, the email marketing gurus, reported that screen grabs of video received 5x more clicks than text links.
- According to Larry Pryg at GM, auto dealer websites that contain video receive a 2x increase in calls over sites without video. (via ReelSEO)
- In an interview with Chris Savage at Wistia.com, the folks at Common Craft revealed that landing pages that include video increase their conversion rates by 3x-4x.
- In the same vein, Andrew Angus, from the Common Craft network explained that web pages that include video testimonials increase their conversion rates by 2x-6x. (via Common Craft)
So what does this mean?
If you apply this conversion rates and ensuing sales to your additional cost (however minimal or expensive) of adding video you’re going to get some form of ROI. If you’re selling $50,000 software packages then adding a some high quality video to your site becomes negligible and a good investment. On the other hand, you may be selling $25.00 widgets, in which case a Flip Camcorder may be the ticket.
Ultimately, it comes down to cost and return. What’s yours?
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This is a promo piece that we shot for our friends at Amplify Federal Credit Union.
The 30 second commercial aired in Austin captures Rob Harbison’s testimonial about Amplify’s new “Free All ATMs” campaign. That’s right. All your ATM transactions are free with Amplify.
Go Amplify!