Explainer Videos: A Necessity?
The advent of the widespread use of the World Wide Web in the 1990’s also saw the expansion of e-commerce. Online transactions were not anymore limited to banks and large corporations. Smaller and web-based companies began to have their foothold in global business. The dotcom bubble burst of the 2000’s, however, led to new online business paradigm that is more competitive and complex.
Search engines like Google and social media platforms like Facebook became the dominant market forces that determined the success or failure of online businesses. Web-based companies, large corporations and even traditional community-based businesses needed to have strong online presence in the search engines and social media.
Large number of competitors online made it virtually impossible for most small online businesses to be found by all internet users even if they optimize their search engine and social media campaigns. Hence, it became imperative to focus on specific demographics of target customers.
Getting the attention of these target customers and stimulating their interest on the product being sold are difficult. Present-day online users have very short attention span because of the many distractions like games, social media interactions and entertainment. An explainer video is one of the means to effectively capture the attention of potential customers.
According to one study, there is a difference in the attention span between desktop users and mobile device users in terms of watching a video like a cartoon animated video intended for product promotion. Approximately 20% of desktop users to tune in to video contents would stop watching within 10 seconds if their attention is not captured. Hence, the first ten seconds of a video for business promotion should encapsulate interesting facts and figures about the business. When it comes to specific brands or products, the features and benefits should be emphasized.
Other studies have demonstrated that about one-third of viewers will stop watching a promotional video within 30 seconds of watching. Almost 50% or half of the viewers will be gone in one minute. It is crucial that the attention and interest of the target audience or costumers should be captured in a relatively short period of time. Ideally, a video marketing certain products should not exceed one minute.
On the other hand, internet users who access the World Wide Web with their mobile devices have comparably better patience compared to the desktop users. According to a survey, consumers who are using iPhones are likely to watch online videos for almost 2.5 minutes while Android device users have attention span of up to three minutes when it comes to watching promotional videos. Most iPad users are perhaps the most patient because they would view a video for an average time of five minutes.
The shift from textual and static graphic to video marketing is estimated to peak by 2017. If the current trend continues, almost 70% of website contents would be videos. The text and static graphics as well as the interactive features will still be present but would play minor roles when it comes to product marketing.
Ranking and traffic
Most online marketers seek the Holy Grail of ranking number one in the SERP or search engine results page. Rankings in the SERPs are based on specific keywords and content. Back links to that particular web page or website are also crucial for rankings. Search engine optimization requires the collective work of a dedicated team of specialists over a long period of time.
Search engine optimizations also needs maintenance. The rankings in the social media, on the other hand, work at a different level. Organic traffic and viral traffic play more crucial roles but these are only for shorter period of time. A business video production that is shared online has more potential to become viral in social media than in search engines. However, a viral video is only possible if the video is entertaining and interesting.
Using videos in social media marketing is more convenient because videos are much easier to share in social media. Many of the promotional videos that are shared have emotional connections with the viewers. This is made possible by the storylines that most people could relate to. For instance, a commercial about insurance could feature a hardworking parent who suddenly dies but able to provide financial security for his or her family through insurance.
Video marketing has better ability to convert viewers to buyers. This is especially true if the video makes emotional connection. The conversion rate of consumers is higher when online video is used for marketing compared to more traditional text content marketing.