How to effectively use product videos to increase your sales
In Google’s Quarterly Insights report, a media mix model run by MarketShare revealed that businesses spending an average of just 5% of their media budget on YouTube increased sales by 1-3%. When digging deeper into statistics related to Gen C, it is easy to see why:
YouTube tops all cable networks in the US in reaching 18-34 year olds.
The creation of YouTube has given smaller companies more opportunity for online growth by providing a new platform for video marketing efforts. Most marketers were skeptical of this new platform in the beginning, but after 8 years of analysis, it is hard to argue with the facts related to the benefits of using this free resource.
Now, how can you use this information to increase your online sales?
Surprisingly, you don’t have to do much…and here’s why.
If you post it, they will share.
That’s right – 50% of Gen C reported sharing or talking about videos with friends after viewing them – an option that has not yet been made available by TV network advertisers. This makes your investment in video twice as effective and undoubtedly less expensive if you include YouTube in your marketing strategy.
Now apply this knowledge to product videos and imagine the potential reach.
According to an independent retail survey conducted by Walker Sands Communications, 53% of consumers reported that YouTube videos have influenced a purchasing decision at least once. Additionally, 64% of consumers have used mobile devices to research products while in a retail store.
YouTube has caused large and small companies alike to turn to strategic campaigning rather than simply throwing large sums of money toward ad space. This is great news for smaller businesses, because reaching Gen C is now faster and more affordable than it has been in the past. Whether your marketing objective is to close the deal online through eCommerce or todrive consumers to your brick-and-mortar location, video will play an important role in increasing your sales in 2014.