By Tim James
Video content is now the preferred medium for consumers and statistics show that consumer Internet traffic for online video will increase by 80% by the year 2018. That’s not too far away.
And, when both are presented on the same page, consumers would rather watch a video than read text. For that simple reason, video content simply converts better.
There are many types of video content and unless you devote (or outsource) this content, it can be difficult and take some hard work to produce all of the different types of video you need. This can include: Pre-Roll; PPC & Re-Targeting video campaigns; promotional; model comparison; video email campaigns; in-market video display; new model test drive; value proposition; testimonial; inventory lead follow up; delivery; service department; and, finally, life cycle marketing videos. Are you overwhelmed yet?
While all of these are important, I would like to help simplify this for you by focusing on the five types of video content that have the biggest impact on conversions, leads and sales.
Here are the five types of video content you should focus on:
- New Model Test-Drive – According to Google, the top three types of video content that auto shoppers are searching for are: test-drives, features & options and vehicle walkthroughs. In fact, the time consumers spend watching these kinds of videos has doubled in the past year. For this reason, if you fail to provide this video content for your customers, I guarantee that they will watch it on someone else’s website! If your competitor has New Model Test-Drive videos and you don’t, they may be getting the shopper into their funnel higher in the buying cycle — and you may lose them before you even get started!
- Inventory – Your VDP pages on both your website and 3rd party sites are THE most important advertisements your inventory could have. You spend a lot of money trying to get traffic on those pages. However, it’s becoming harder to differentiate your dealership from VDPs by your competition. Most websites are very similar – especially the VDP pages – and you really don’t have much control of the content you can put on them. So how do you create a more compelling VDP page that sets your vehicle apart from all of the other similar ones? Through video. Yes, perhaps you think it’s difficult to take full motion videos of each of your vehicles. But here’s the thing: video is no longer an option. If you can’t do it, have your lot service do it. If neither of these is an option for you, then use automated services that stitch together the phots into a video format. Why? Because they work. Your time on site will increase by 20% or more, videos will have an average completion rate of upwards of 75%, lead form conversions will increase by 20% and engagement by 200%! Inventory videos have a significant impact and are ridiculously inexpensive to create.
- Value Proposition – As much as shoppers are looking for a vehicle to fall in love with, they are also looking for a dealership and salesperson they can trust. One of the first things you train a new salesperson to do is to sell the dealership, then themselves and then the car, right? Why would you do it any differently when the “salesperson” that the customer first encounters is your website? Consumers simply want a dealership that they can trust to be fair and honest with them. That’s what this type of video content is designed to achieve.
- Testimonials – These videos reinforce the trust factor and compliment your value proposition videos with a combination of selling both the dealership and the salesperson. Consumers trust other consumers and video testimonials are a powerful way to show potential customers that previous customers had a great car-buying experience with your dealership and/or salesperson. They also show that it was so good that they were willing to broadcast it publicly via a video testimonial. People communicate through tone and body language – something that text cannot fulfill. Video, on the other hand, can. Prospective customers watching your testimonial videos can identify with, understand and be influenced by that testimonial, just as if the person giving the testimonial was standing in front of them.
- Lead Follow-up – When consumers submit inquiries via third party sites, oftentimes they are contacted by more than one dealership. Even if they convert on your own website, the chances are great that they are also cross-shopping you with your closest brand competitor. Most e-mails coming from dealership CRMs are templates. Consumers can smell these a mile away. They know these weren’t created specifically for them. If you send these, the consumer isn’t going to be impressed. However, sending a personalized video e-mail, makes an impression. In fact, it makes so great an impression that video e-mails see a 200% higher click-through rate and 80% get more replies. They also have a 70% higher conversion rate and 65% of the consumers watch 100 percent of the video!
Starting your video marketing with a focus on these 5 types of video content should immediately increase VDP views, conversions and, ultimately, sales. Keep in mind, however, that simply creating the videos is only the first piece of the puzzle. You can create all of the video content you want but if you aren’t doing it with a strategy in place, you may find less success.
In my next blog, I’ll show you what a strategy looks like, how to implement it and why choosing WHERE your videos are is extremely important.