social media

3 Video Marketing Applications for a More Profitable New Year

By Tim James

Video has historically played a major role in car dealerships; from training with VHS tapes, to video messaging, text and Live Video Calling. As 2019 draws to a close and we approach 2020, it is clear that when it comes to consumer engagement and digital marketing, video is center stage.

There are many video marketing statistics and trends floating around currently. It is easy to get lost and it can seem a daunting task to stay head of the trends. In this short blog I have put together 3 practical ways to successfully incorporate video into your 2020 marketing strategy.

Communication

Why struggle wondering if your emails are opened and read? According to multiple reports an engaged audience will drop what they are doing to watch a video. In fact, email open rates increase by 7% if you include the word “Video” in the title.

Focus on quality! I always hear people saying, “keep your video short”. The fact is you should put your stopwatch away and focus on delivering high-quality information in an upbeat and emotional presentation. Too often people try to rush their presentation and simply don’t provide an educational or emotional presentation.

Nothing will lead to someone closing your video sooner than if you sound like you are just trying to rush through it, versus truly trying to assist them. If you are providing a great experience in your video message, what’s the worst thing that could happen?  Yep…someone stops watching.  But what about all of those who are truly interested in your message? If you are providing good (relevant) information, and delivering it in an emotional manner, the numbers show that a significantly high percentage of your email (and text) recipients will watch 100% of your video message.

Another good statistic to know is that adding video to your emails can increase click rates by 300%.

Vehicle shoppers appreciate the informational and emotional value of video. Live video calls and video chat are effective at increasing engagement and convert more website traffic to lot traffic as shoppers can now talk to one of your professionals “live,” from wherever they may be.

This does wonders for customer experience by offering a truly unique perspective of transparency. Consumers don’t need to wonder about availability if they can see the vehicle in a video behind you in real-time.

Website Conversion

Users spend 88% more time browsing a website if it has video. Video content humanizes your dealership, builds trust, and inspires higher funnel shoppers to actually pick up the phone and call you with their questions. Video on your landing page or VDP will increase conversion by 80%.

Inventory videos transfer more information. In addition, they help your VDP pages create more emotion from potential car buyers, much more than pictures and text alone. Website videos increase organic search traffic by 157%. You are then far more likely to appear on Google’s page one, driving more online shoppers to your website and into your sales funnel.

Social

For all social platforms , video has 12 times more shares than text and image alone and engagement is 13.9% higher if your posts include video.  How long should your videos be on social media? 30 to 90 seconds is the ideal length for social video marketing. But again, remember that this is because the viewers aren’t there just for your video.  They are socializing and have a short attention span (oh look, a squirrel). But you still don’t want to sacrifice quality for time.  The quality of your content always comes first.

What about the future? 360 degree interactive presentations and Augmented Reality are predicted to be areas with the most growth as marketers enjoy the ease of creating this type of content and it is becoming less expensive.

If your dealership isn’t using video in its vehicle merchandising or customer interactions, you could be missing out on opportunities. Let the consumer experience your inventory they way they want to experience it.  If you limit their options, you will also be limiting your leads.  It’s all about selling more cars and increasing service revenue. Video can help any dealership accomplish both with very little time, effort and cost.

If you don’t believe me, give it a try. I promise you will see the results and will continue to use video marketing at every possible customer interaction opportunity.

How to Make the Most of Your Marketing in a Down Market

Consumers have grown tired of the countless vanilla marketing messages many companies keep sending (and yes, that includes OEMs and dealers.) However, the marketing tactic that is enjoying success is relevant marketing directly aimed at a specific individual. Relevance is the key to winning today’s consumers. But, it’s not only about relevance, it also involves delivering that message in an engaging manner. Well, how do you best do that?

A recent article in Forbes shared that while ad spend is up 22%, the majority of marketing channels and methodology often produce an open rate of less than 19% and a click-through rate under 3%.  Video, however, performs much better. The article shares a story about a business that decided to shift its budget away from traditional marketing messages and instead use personalized video messages. The videos are personalized and available to the consumer on any platform. The results are incredible, with a 98% open rate and a total transformation in terms of reduction in early churn.

Personalization is vital to capturing a consumer’s attention. And there is no more effective way than through the medium they prefer: video.

There are many pieces to each dealership’s marketing puzzle. If your dealership is looking to cut its marketing budget because of a downturn in sales, first consider which pieces of that puzzle produce sales that can be tracked versus those that are shiny objects.

The great thing about sending personalized videos to prospects and current customers is that consumers tend to engage, and it is also one of the easiest types of marketing content to produce, the most affordable and performs the best.

It doesn’t matter which platform your prospective car buyers choose to engage with your dealership; videos perform the same regardless of platform. Videos emotionally connect with people and make them feel more special than an automated template shooting out from a CRM. Consumers can smell those a mile away. A personalized video, however, addresses them by name and shares the exact information they are seeking on the exact vehicle. Which is going to get a warmer reception and build rapport faster?

People like to do business with businesses (and people) that they like. As long as the customer is hiding behind an email address, or ignoring your phone calls, you are simply more noise that is not specifically relevant to them.

There is a reason personal videos made relevant to each individual customer perform better than other forms of communication. The biggest one being that the consumer recognizes that, while they may receive similar auto-responder templates both at the beginning and during the follow-up process, YOUR dealership chose to take the time to address them on a personal level with a video that answered their questions and welcomed their business.

Stop shooting for 3% response rates and think bigger. Video not only engages more customers; it generates more sales and builds loyalty as an excellent side benefit.

Video is Everywhere!

There are a huge number of travelers on domestic flights each year. Southwest Airlines, not unlike others, offers these passengers paid wi-fi, but, more importantly, in-flight entertainment. The standard of that entertainment has changed immensely over the years. In the not too distant past, flight attendants collected discarded newspapers and magazines and offered them up to the next group of fliers for ‘entertainment.’

Today is vastly different due to the mediums now available and advances in technology which has effectively changed people’s desires. Take a look at this image.

It is a current pamphlet in every Southwest Airlines seatback notifying passengers that there is “in-flight entertainment.”

Let’s do a quick dive into these. Five types of “free” entertainment are promoted– movies, on-demand TV, messaging, live TV and music. How many of these are video-related items? 3 out of the 5!

Guess what folks? Airlines have chosen video as the preferred method of entertainment. I bet that there were focus-groups galore before they decided what amenities they wanted to adopt and market. You better believe they did that before adopting the technology along with the related expenses!

Of course, some passengers bring their own newspapers and magazines (because the airlines don’t offer them anymore, except for their own in-flight magazines). Passengers also bring digital reading material and… surprise… iPads with movies (hint: videos)!

There are many things these days that can be used to entertain people while stuck in a giant tube 15,000 feet in the air –all looking for things to … God help me… pass the time. Personally, I prefer to sit in the first-row isle seat — I like to be the first one OFF the plane, rest my cowboy hat on my knee, and…watch movies that I’ve downloaded specifically for the flight.

If you are hesitant or uncertain about the impact video can have on your customers, just be observant on your next airplane ride and see what the majority of people are doing to pass the time… I would bet I know the answer.

If you ever travel with a cowboy hat, rest it crown up on the seat back tray to avoid any damage. Be sure to thank the flight attendants and, once you see that everyone is watching some sort of video content, take a break from any in-flight entertainment you may be enjoying, and look out the window once in a while. The Grand Canyon looks awesome from high in the air. The World is an amazing place to see!