Public Relations & Social Marketing Insight

According to a recent study at the University of Miami School of Business Administration, online shoppers are proving to be 80% more likely to choose more expensive products and services when accompanied by a video demonstration. If your brand hasn’t implemented video to your social media mix, you may potentially be missing out on a large market share.

Interestingly enough, 79% more shoppers are most likely to choose products centered on entertainment and pleasure as opposed to functionality. They are even willing to pay a higher price for this. Could this be the correlation between video engagement and a product that entertains?

"It is clear from our study that online retailers, particularly those selling a product that beats the competition less on function and more on attributes about pleasure and enjoyment, can substantially increase their sales and profits by systematically incorporating more dynamic presentation formats like video to convey their product and service offerings," states Claudia Townsend, Assistant Professor of Marketing at the University of Miami School of Business Administration....

Mistakes happen, especially when you’re getting started with video. But, just because you made a mistake doesn’t mean you didn’t learn anything from it.

Rocky hosted a Blab along with special guests Britney Clapp & Drew Keller where he talked all about video mistakes our team has made and what we learned from those mistakes.

Here’s some of the biggest mistakes we’ve made...

Use and apply videos to improve your existing marketing campaigns to build a conversation with your customers

Websites and marketing campaigns often rely on text and graphics; however, relying on too much of any one ingredient is a recipe for disaster. While graphics convey information succinctly, and text explains and elaborates, adding video to the mix is a way to reach customers who absorb information visually and tune out when they see too much text.

According to Insivia, on average, viewers retain 95 percent of information if they watch it it, but only 10 percent of the when they read it.

If a customer doesn’t hear or understand your message, your chances of converting them are slim. For many companies, conversion rates increased after adding videos to their campaigns. PowToon found start-ups and small businesses that used videos saw a conversion rate increase an average of 40 percent. Additionally, start-ups saw email sign-ups increase 67 percent....

By 2017, it will take an individual more than five million years to watch the amount of video that's going to be generated each monthmonth.

...I posed that question to Michael Litt, CEO and cofounder of video mark/eting company Vidyard, and asked him to make the case for video to be that tool.“Well, you could probably create some really awesome content about

what life was like on that island,” Litt jokes. “But seriously, tweets, written content, and photos can only go so far; video is the most engaging medium on the Web—it's the next best thing to being there in person.

”Consumers clearly agree, as is evidenced by their actions. According to Cisco, by 2017 online video will be responsible for nearly 70% of all consumer Internet traffic. Within three years, nearly one million minutes of video content will cross content delivery networks every second. By then Cisco estimates it would take an individual more than five million years to watch the amount of video content generated each month. To put that into perspective, the genus of great ape from which modern humans derive still hadn't evolved five million years ago....