When measuring the success of the business, a popular metric is the conversion rate. The conversion rate measures the percentage of prospective customers who take a specific desirable action. This can include something as minor as a click through or filling out a form, to something as major as a purchase or subscription. In any case, the higher the conversion rate for a particular task, the more successful your company is at accomplishing that particular task.
An excellent way to improve conversion is to incorporate video wherever you want to increase conversion. Research suggests that the use of video on landing pages can increase conversion by as much as 80%. A main reason for this is that video is more captivating than text. All else equal, viewers are much more likely’s to stay engaged in dynamic video content than a static webpage. Further, video allows the viewer to be more emotionally engaged as it is much easier to deliver semantic information through video than through text.
How well the implementation of video increases conversion rate however depends on both the quality of the video and how you implement the video into the rest of your content.
To begin, let’s consider what makes a good video. A good video must be concise, deliver enough value to a viewer so that they take a call to action, and emotionally engage the viewer so as to increase the likelihood that the viewer builds a long-term relationship with your company.
The use of video is a delicate balance between utilizing video’s incredible information density and not overloading the viewer with too much information. This is challenging as statistics indicate that about 20% of viewers click away from the video within the first 10 seconds of viewing. Your video must therefore hook the audience by way of your introduction and then maintain their engagement until the end of the video where you introduce the call to action.
A best practice to prevent declining viewer engagement within the first 10 seconds of your video is to immediately explain how watching the rest of the video will deliver value to the viewer.
While it is in accomplishment to hook viewers into your video, on average this only comprises about 2% of the video’s length. The challenge is now to capture their attention throughout the remaining 98% of the video. One way to do this is to make your video dynamic by frequently changing key aspects of the video such as background music, speakers, or scenery. Doing this makes your video more captivating and will increase the likelihood that the viewer Will remain engaged. Writing a script and editing it several times is often advantageous as it allows you to trim down your message and ensure that every word has a purpose and delivers value to the viewer.
Another equally important concept that should be embedded throughout the video is the strategic use of semantics to communicate your company’s values and culture to the viewer. If you can successfully identify the cultures and values that your target market associates with, then you can ensure that your message captures these cultures and values so as to better emotionally connect the viewer with your company. As video has much greater information density than other media, it is easier to deliver this emotion through video.
Lastly, assuming that the viewer has watched the entire video and understands what your company and product are about, there must be a clear call to action for the viewer to connect with your company. In order to successfully increase conversion rates, The call to action must be as simple as possible. In fact, the distance between your company and the video should be no more than one click away.
Once you have successfully created your video, it is now time to launch your video in a strategic way that will increase the likelihood of an improved conversion rate. As there is no one the most effective way to ensure improved conversion rates, you must anticipate what launch techniques your target audience will respond most positively to. As you work through this process, you will be able to find what works and what doesn’t work and eventually find the optimal strategy to improve conversion rates.
One strategy to consider is to implement an auto play feature over a press play feature. While usability guidelines advise against auto play, claiming it is an interruption that annoys people, there are cases where auto play engages users that otherwise would not have pressed play. For this reason, it is vital that you experiment with this feature to determine whether it improves conversion rate or simply irritates potential customers.
Another feature that can help improve conversion rates and increase website traffic is to launch short preview videos on various social media sources such as YouTube, Facebook, Twitter, and LinkedIn. The idea is that a short video will likely retain more viewers and that after reviewing the short video, the user can click through to a longer more comprehensive video on your website. Even if viewers click through and don’t always complete the full and comprehensive version of your video, you still increase your click through rate and increase website traffic which has a positive implications for your company’s search engine optimization.
Especially now as videos on websites such as YouTube have interactive and clickable components, it is vital that you utilize key directional cues to point your viewers to key screen locations. By doing this, you are increasing the likelihood that viewers will click these key on screen locations that will redirect them to your home page, thus improving your conversion rate.
Another key strategy is to distribute the same content on many social media sources. For example, when you make a video, it is wise to have it on your website as well as on YouTube, Facebook, and Twitter. Even though this may seem redundant, you are increasing the likelihood that viewers will click through to your website.
By creating high quality video and launching it in a strategic way, you are increasing the likelihood that your conversion rates will increase.