Money makes the world go round. Whether we like it or not, all of our actions are somewhat controlled by the almighty dollar. To live a good life, we strive to have a steady income which covers our basic living expenses, and also leaves us enough to invest and grow.
With explainer videos, our goal is the same: to invest and grow. Increased ROI when using an explainer video is just one of the reasons you should consider producing one for your business.
Of course, we all enjoy minimum investments and maximum productivity and income.
We expect the same from explainer videos. While we do spend on creating them, we hope that their positive marketing abilities will haul in ritches for us. Luckily, these videos are high quality products with minimum expenses for production. Especially if they are animated, no need to worry about covering a whole acting crew. This initial fact already tells you a lot about the profitability of an explainer video and its favorable ROI (Return on investment). CopyPress confirmed this by pointing out that 52% of marketing professionals worldwide mention video as the on-line content with the best ROI.
A study by Video Brewery showed that people who watch videos stay 2 minutes longer on a website. Staying longer on a website means getting interested in the product or service, leaving a higher possibility for purchase of goods. According to Vidyard, on-line videos increase purchase intent by 97%.
We already mentioned why animated videos are good from the point of view of production expenses (1 man army production team), but we also shouldn’t forget to mention the importance of an animation’s influence on people. It is much more easier to connect with animated characters in an explainer video. They do not have their own personality, but allow people to transfer their own experience on them, and so get closer to the product in the video. The closer people get, the more comfortable they will be with buying.
An explainer video makes the product or service much more comprehensible, drawing potential buyers to the website. Apart from text, which has limitations in the sense that it cannot illustrate all the details and unique features of a product, an explainer video makes it easily understandable with witty visuals.
Another aspect of videos is that you can easily track the number of viewers it had. Not only that, but you can also see from which country they watched the video, at which part they stopped watching it, or which part was the most watched. All this is extremely valuable, as it indicates whether the place, mood or style of the video was right or not. It also shows what needs to be done to improve the engagement of customers, and improve ROI.
Videos let you measure the call-to-action response rate. It helps you do market research, looking at converted sales and website views after the publication of a video. The on-line company Crazy Egg revealed that a single animated video increased their conversion rate by 60%. Furthermore, studies have shown that good animated videos and a solid video marketing increases sales by 20%. This is backed up by the fact that 90% of viewers state that videos help in making decisions with purchases, while 52% feel much more confident buying after watching a video.
Last but not least, videos get to the point of the product very fast, in less than 2 minutes, much more quickly than any text. This spares a lot of time for viewers, and, as we all know, time is money.
There are quite a lot of business that report that an explainer video increased ROI. With the help of social networks, videos get around the World Wide Web much more easily. It only takes one person to really enjoy it, they will share it immediately with all their friends. And the more people it reaches, the more the chance they will get to like it. Be patient. Customers are sure to come.
If you’d like to learn more about explainer videos, go ahead and download our ebook!