by Tim James
There is a lot of talk and buzz building about the importance of video marketing – as there should be. Video is quickly becoming the preferred medium for consumers. Don’t believe me? Literally thousands of articles exist on the Internet illustrating the benefits of using video in your marketing.
But for this blog I would like to take a step back for a minute. I’ve talked about using video in emails, virtual reality, etc. However, it’s time to get back to basics, because, despite the power of video, there are still some dealers who don’t even have videos of their vehicles on their websites.
Let’s get real here. You spend tons of money on your website. That website has one major purpose – to show off your inventory so that a car shopper can get emotionally attached to a vehicle and call you. And I am sure you also spend quite a bit of money driving traffic to your website and vehicle display pages. As well as a considerable chunk of change to get your vehicles on third party listing sites in order to influence and engage with car buyers there. Seeing as all this money is spent to market inventory and drive traffic to it in order to do the only thing that matters – sell a car – then it makes sense to ensure the greatest return on your investment by having the very best advertisement for your vehicle on that vehicle display page!
If you aren’t actually taking full-motion videos to merchandize your vehicles, the next best thing is stitched photo videos. Yeah, I have heard the naysayers that don’t see the value of stitched photo videos but, at the same time, are not doing any video whatsoever. Those dealers are missing out on customers. You don’t have to listen to me… but you should be listening to your customers – and here’s a nugget of data for you:
According to data, stitched photo videos on vehicle display pages have an average 75 percent completion rate.
Now let me ask you a question. Would stitched photo videos have a 75 percent completion rate if customers DIDN’T like them? Of course not. Most dealers have about 40 or so pictures of each vehicle along with a written vehicle description designed to provide information while simultaneously creating an emotional attachment to the vehicle. By presenting this same information with a video (even a stitched photo video), you increase both the informational and emotional value of the content, which means you get more leads.
Look, let’s remove our “opinions” from the equation and just focus on the data, which clearly shows that consumers like and are influenced by stitched photo inventory videos. Time and time again we see dealers go from NO video whatsoever to stitched photo videos — and very quickly realize a significant increase in some of their most important KPIs. We have seen122% increases in unique VDP views, 110% increase in total VDP views, 75% increase in return website visitors and lead form conversions of 95% or more. These are actual increases realized by your peers, just by adding stitched photo inventory videos!
If you’re NOT using video, don’t you want these performance increases from your website? And these are results from dealers that simply flipped a switch with their video provider and turned on stitched photo videos. This took no extra effort on their part whatsoever. The pictures are already being taken. The software does the rest.
Nobody ever said video marketing needs to be overwhelming. Sometimes you have to crawl before you can run. But what really matters is that the mere act of crawling will get you farther than doing nothing whatsoever.
There are many other reasons that inventory videos are critical to your Video Marketing Strategy, even if you only use stitched photo videos — particularly when it comes to the data capture and utilization power of inventory videos. The bottom line is that customers want to watch inventory videos and they will have a significant impact on your sales. If you don’t provide it for them, you may find them watching another dealership’s videos. And that probably won’t work out in your favor.