What Can Animated Videos Do for Sales?
When it comes to professional service-based businesses, what's with asking for an hourly rate?
Because if I'm hiring a professional service business like a CPA for example, I'm not asking "what is your hourly rate?" Rather, I'm asking about results of effective tax knowledge and expertise in navigating the process correctly. Perhaps, I'm asking for client results but definitely not hourly rate.
Hourly is what you pay when there is an exchange of time for money. Professional service-based businesses bring more than their time to the job.
You're paying for their hard-earned expertise, education and experience. You're paying for a beneficial outcome.
Branding and creative entrepreneur Chris Do gets it right when he characterizes it like this: We provide strategic thinking and a new level of clarity not a commodity of a website or logo.
The price of his services are based on the value gained.
True Story: How Animated Video Can Impact Sales
I recently spoke to an attorney who ran an online video campaign for 3 years (just like the videos we create at UpLevel). He told me his firm created 20, short-form educational videos to use online and the result: "we made a ton of money" he said.
When I asked what him if he'd mind elaborating he said, "Well, every few days during that time we ran the videos, we were closing clients at $3,500 to $7,500 retainer fees."
I didn't ask him his total revenue earned during that time but let's estimate...
If he ran it for 1 year (actually he ran it for 3) but let's start with 1 year.
Let's say he made 1 sale per week (actually, he indicated he made more than that) but just for starters...
That means he may have made anywhere from $168,000 - $360,000 from sharing a variety of informative videos online in one year.
"Was it advertising," I asked? "Not really," he replied. "We dabbled with running them as ads but really just shared them on social media and the website."
Clearly, there's a lot of value there!
Now, how much would you expect to pay for something that could make you that kind of money?
Hint: It's not an hourly rate.
What One Marketing Expert Says About Marketing
When I recently listened to marketing expert Seth Godin's 2013 book called Purple Cow, my jaw dropped when heard him say, "Marketing isn’t guaranteed to work."
For a marketing person to say that sounds strange but of course there's more to the story... for the whole scoop, get the book.
When I explain "marketing" I say that we can think strategically, get creative, do research, conduct work on creative elements (i.e. video) and deliver those projects yet there is not a 100% guarantee the desired outcome will occur.
But such is life!
Does that mean you just don't do any marketing?
There's not a one-to-one return on investment when it comes to "marketing." But at the crux of the book Purple Cow, Godin writes:
"If you're not remarkable, you're invisible" and "quit advertising, start innovating."
That's why I say animated videos are the way to go. When you use animated video to educate your clients and prospects, you become a valuable resource. Maybe you even become remarkable in their eyes.
It's not every business owner who is going to understand that educating people in a way they can understand is quite valuable.
I'd say it makes you innovative. Creative. Different. Thoughtful. It will make you stand out above your competition.
In an age where anyone can create a video with their cell phone, be someone who puts time and effort into crafting unique and educational videos so your prospects and clients gain a new level of understanding.
Results Animated Video Can Provide
Most business owners I speak to want things like: leads, sales, retention, to help, to stand out and to be referred (shared). While the more tech savvy of the bunch might include things like improved SEO and mobile-friendly websites. Animated video can actually support all of those goals. For example, animated video can help:
Sales: Animated explainer videos have been found to boost conversion rates. According to a study by Vidyard, businesses using video on landing pages experienced an 80% increase in conversion rates compared to those without videos. While they can be any type of video, an animated explainer is a way to be professional, brand specific and is more accessible than traditional live-action video production.
People understand: Animated explainer videos are effective in conveying complex ideas or products in a simplified and engaging manner. Research conducted by Wharton School of Business found that viewers retain 50% more information from videos compared to text alone.
Engagement: Animations and visually appealing content tend to capture and hold viewers' attention. A study by Wistia found that people spend on average 2.6 times more time on pages with video content compared to those without.
Social Sharing: Animated explainer videos are more likely to be shared on social media platforms. According to a study by Brightcove, social video generates 1,200% more shares than text and images combined.
Improved SEO: Videos can contribute to improving search engine optimization (SEO) efforts. Research by Forrester shows that pages with video content are 53 times more likely to rank on the first page of Google search results.
Mobile-Friendly: With the rise of mobile, animated explainer videos offer a mobile-friendly and accessible way to engage prospects. According to a survey by Google, smartphone users are twice as likely as TV viewers and 1.4 times more likely as desktop viewers to feel a sense of personal connection to brands that show video content.
Curious about how animated video can help support your goals in business right now? Book a free consult and find out if it's right for you.