There’s a reason product advertising is a multi billion dollar industry. Because it works. Product video advertisement in particular has the highest conversion rates of all (turning potential buyers into paying customers). Retailers that include product video on their websites see average increased conversion rates of 30 to 400%. There may be a rather large gap, but hey, it’s better than 0%. Every television show you’ve ever loved, has been bought and paid for by advertising dollars, that you the consumer make up for with your buying power. Whether those advertisements play to our sentiment, our funny bone, our desire to be more beautiful, or even our overwhelming desire for a thirst quenching carbonated beverage, video marketing is a tactic and it’s used in such a wide array for one reason; it does indeed work.
While video marketing for products is a tactic of it’s own, there are plenty of strategies within. The diversity of those strategies is also why it’s such a popular way to promote your product, the possibilities are endless!
ENGAGE YOUR AUDIENCE
The number one reason products are so widely hawked through video, and probably the most general, is that it is the most thorough way for the manufacturers to engage their customers. There’s no better way to appeal to potential buyers than through the all-encompassing sight and sound that video provides.
Offering buyers instructional videos on-site of how to use a product are incredibly helpful to both buyers and conversion rates. It helps relieve any doubts that may be incurred by viewing images and text of the product alone. The better someone understands your product, the more likely they are to buy. This is especially helpful if the product is complex in nature and needs demonstration and explaining. People are so much more likely now to investigate a purchase online before buying, hence the wide selection of user review sites and star-ratings. Offering explanations up-front not only keeps a potential buyer on your site longer, but it also builds trust between them and your brand. It gives the impression that you have nothing to hide and that you stand behind your product.
THE PERSONAL PLEA
Explanation is key. And explanation of why someone should buy your product over someone elses’, is crucial. This is sometimes done not just through showing off your product or a scripted piece that tugs at our heartstrings, but having someone within your company explain to a buyer why your particular product is the only option. This is the ‘appeal to sentiment’ approach, in which you ask others to believe in your product because you do yourself. The personal plea is all about earning buyers’ trusts and building a kind of one sided relationship, in turn causing people to buy because they feel a personal connection to your brand.
THE COMEDIC APPROACH
We’ve all seen them, they’re out there; the advertisements that seemingly have nothing to do with a product, but leave our funny bones quivering with enjoyment. A funny ad encourages you to buy for two reasons: they’re memorable, and they make you subconsciously associate that specific product with a good feeling. Comedy is possibly the most common strategy used in video marketing, but not necessarily the most effective. Partially because everyone seems to be using comedy in their marketing, so your comedic attempt has to be that much better than everyone else’s to be memorable. Comedy gives the impression that you don’t take yourselves too seriously, which depending on your product could be a good or bad thing, nowhere in between. It’s not an easy tactic to pull off, as everyone’s brand of comedy tends to differ and you shouldn’t count on your video going viral. But if done well, you could very well convert more customers through the simple joy of laughter.
The above mentioned are just a few of the many reasons and approaches to promote your product through video. And no video has to be limited to one approach either. You can be funny and sentimental, just as you can demonstrate while being engaging. It really depends on the feeling you want to leave with your buyers. And that’s what video does that not many other mediums of marketing can offer: it leaves your buyers with a feeling encouraging them to buy. And if you choose a production company to produce your video or videos, make sure they’re willing to listen to the feeling you’re trying to get across and that they understand it.
The most recent product we’ve highlighted at New Slate Films is the Active Life Sport Cart created by Thomas Scott. The Active Life Sport Cart gives people with limited mobility the ability to move more freely and aids in their independence. As you’ll see in the video, not all products are limited to one video marketing strategy. The nature of the Sport Cart allowed the video to be engaging, instructional, informational, and even appealed to our sensibilities.