I have attached an excellent video by Drew Davis on the huge increase in sales that can result by producing videos for your products and services (www.tippingpointlabs.com/2011/04/25/steal-this-slidethe-value-of-product-videos ).
The research he includes in this video is amazing and includes:
- Videos increase web sales by 64-85%! (0:31 mark)
- You are 53 times more likely to achieve front-page Google status with a product video. The Google search algorithm just loves video. (1:00 mark)
- Offline sales also increased by 6%. (1:31 mark)
- The use of product videos reduces the product return rate by 25-27%. The video manages your customer’s expectation by clearly showing what the product or service does and what it doesn’t do. (1:58 mark)
- Direct email campaigns showed a 96% increase in email click-through rates. This can have a huge impact because if your prospect doesn’t read your pitch, they are highly unlikely to buy. (2:13 mark)
- Video merchandising doubles sales when you add related products (upselling and cross-selling) that you can recommend in the product video that the prospect originally clicked through on. (2:24 mark)
- Finally, if you are selling items with a high price point (what he calls “luxury items”), a video increases sales by an amazing 20%. (2:40 mark)
One point: You should start measuring these items now so that you will have a benchmark to compare how much adding videos is increasing your sales.
These statistics make it clear that if you’re not using videos to showcase your products or services you better start now. I know I will be adding them very soon!
Until next time, thank you for your continued support and let’s make this year our most profitable year ever!