If you haven’t drunk the video marketing Kool-Aid yet. Or, perhaps are overwhelmed by the thought of creating and distributing videos, it’s time to consider the advantages of having a video marketing strategy.
There was a time in my career when dealers used to complain about having to take multiple PICTURES of a vehicle. Now, however, most dealers include as many as 40 or more for each vehicle. Why? Because buying a vehicle is an emotional purchase and your online merchandising must transfer information while inspiring emotion. By providing more photos (and a good vehicle description) dealers give shoppers more information and help to facilitate them in becoming emotionally attached to a vehicle.
Once dealers understood that with multiple pictures customers would be more interested and they’d receive more inquiries, that’s all that mattered. And then along came video….
Look, technology is rapidly advancing and consumers are advancing with it. If video marketing didn’t benefit you in the only way that matters — which is to help you sell more cars — I’d be the first to tell you not to worry about it. But, the facts are the facts.
An excellent article published on Business2Community shared a wealth of statistics on the benefits of video marketing for businesses in general. While all of them are impressive, here are some highlights from the article that I thought applied specifically to an automobile dealer:
- Including video in an email leads to a 200-300 percent increase in click-through rate.
- 90 percent of people say that a video is helpful in the decision making process.
- Including a video on a landing page increases conversion by 80 percent, while including one on your homepage can increase conversion by 20 percent.
- Video ads increase purchase intent by 97 percent and brand association by 139 percent.
- An introductory email that includes a video receives an increase click-through rate of 96 percent.
- Video increases organic traffic from search engines by 157 percent.
Think about these statistics. The highest converting (as in sold) leads come from your dealership’s website. Why then, would it not be prudent to increase conversions on your home page by 20 percent? Or how about an 80 percent conversion increase on a landing page (like a VDP)? How many leads are you getting per month from your website and inventory? You do the math. These leads are gold waiting to be mined.
And what about your salespeople sending follow up e-mails to customers? Or replying to leads for the first time which get no response at all? Don’t you think that increasing click-through rates by 97 percent by having the customer watch an introductory video tailored specifically for them would increase engagement?
Give your sales staff (or BDC) an edge with video. The stats are there to prove that you’ll interact with more people. Think of it this way. If you had a lot full of customers, but your salespeople weren’t allowed to interact with them until the customer interacted first, you’d probably sell less cars. Of course, you wouldn’t allow that to happen! But that’s what’s happening with all of those people on your virtual lot!
People can be lazy. Most people would rather watch the movie than read the book. Why? Because it’s easier. We enjoy it more. The same applies to your marketing and follow-up efforts.
Want to increase views, conversions and engagement? Send your customers a video. You’ll see how powerful video content is.
And, before I forget, I’d be neglectful if I didn’t answer the question I posed in the title of this blog. According to Forrester Research, one second of video filmed at 30 frames per second (which means that it has 30 pictures per second) is the equivalent of 10,000 words. This means that a 60-second video is worth 1.8 million when it comes to the amount of information that you can deliver with a video, versus static photos. However, you can’t even begin to measure the increased emotional impact that a video will have versus the static photos…and emotion sells.
Want to make an impression on your customer? Seems as if video says – and produces – more than a picture by far. Take advantage of video marketing. The results will speak for themselves.