It is a fact that the more a customer is acquainted with your product and features they are less likely to churn. But make no mistake – even if they have successfully completed the initial onboarding process – no one wants to read a 15-page pdf to learn more about your product or the features that we would consider “sticky.” So how do you simultaneously engage customers to opt-in for the answers they seek on-demand, reduce support calls and increase loyalty? Enter “the explainer video.”
According to current research, the videos being watched are informative.
95% of people have watched an explainer video to learn more about a product or service.
Just like email marketing, explainer videos — introducing your business and explaining your products and services — have been around for a while because they work. And just as email continues to evolve for the better, so too do explainer videos. The most watchable and useful videos have the right amount of information and sizzle to achieve a good balance of being attractive and engaging to your targeted audience. (See, for example, how Hubspot’s animated explainer video accomplishes this balance by going beyond the antiquated 2d vector animations to tell a relatable story with live action footage and animation to their audience of marketers.
Having a stand-out explainer video that effectively shows your consumers in the most concise way you can solve their problems impacts your audience perception of your brand and helps you get the measurable results — higher conversions and sales. When you establish a sense of trust in the product and services you sell by putting a face to your name, your consumer is 11 times as likely to buy more, 17 times as likely to recommend the company, 9 times as likely to try new offerings. So, it’s no surprise that 85% of people are more likely to buy a product after they have watched an explainer video.
And frankly, some things are better “told” in video. Explainer videos can take the guesswork out of communicating the proper functions of a service or product. Take for example the video we created for Lexis Nexis® Time Matters® Go. In just a few minutes we were able to help them explain what would have been pages to read.
Consumers are more inclined to sign-on when you can take them through a brief “walk-through” of what they would be getting. Take, for example, Dropbox’s explainer video that detailed everything a new customer would need to know before purchasing.
The video resulted in a 10% conversion rate, helping them quickly generate an extra 100 million customers and made a return on investment (ROI) of $48 million.
But it’s not only Dropbox achieving a significant return on their investment, across the board, 78% of marketers say video gives them a good ROI — making it a great investment for any business.
Have you achieved impressive results with any of your explainer videos? We would love to hear about it. Or, if you need help creating an engaging explainer video of your own – get in touch. We love to help.
