Using Online Video Can Help Increase Your Business Profits
Marketing is a business necessity wherein tools and technology innovations are utilized to increase a business’ profitability. The relatively new online video technology is one technology example that can be harnessed to increase profits and even possibly lower marketing costs.
Now that video can be attached to almost any web page, the possibilities of using video as a marketing technique (in the same manner of television) is slowly but surely gaining ground.
– Research on the phenomenon of communication retention show that people remember only 10% of what they have read and 20% of what they hear; however, people remember more than 50% of what they see and hear at the same time – just like watching a movie.
– Marketing analysts report that companies that currently use on-demand video, video e-mail or streaming video podcasts have reported sales increases of close to 25%, sometime more. The increase in client response is attributed to the fact that multimedia rich content is a better catalyst to move and/or persuade clients towards buying a product or service because they can see its benefits in action.
– As far as online viewers are concerned, video builds credibility and trust. It is very similar to having a live person communicating to the end-user/client the benefits of doing business with somebody that they can see and listen as opposed to something that they read online. Customer rapport, trust and a mutually fruitful business relationship is much more easily established and achieved.
– Sending personnel to various locations at the same time to set up a product demonstration invariably entails a long list of additional expenses. Doing the same using online video, streaming video or on-demand video obviously lowers the costs significantly. Lower product marketing costs results into more profits for the company.
– Cost of savings is not limited to product marketing costs. Video can also be used to set up conferencing and training methods, locally and internationally. Live conferencing and training can be easily set up and synchronized between two or more groups of people, regardless if they are at different time zones, at the same time.