25th June 2021
The global marketplace is saturated. Overall supply exceeds demand, making it hard for businesses to increase their market share. In order to remain relevant, many of those businesses have started advertising their products and services. One of the most used advertising methods is product videos. But what exactly is a product video? What is its main objective? Keep reading to find the answer to these questions and much more.
What is a product video?
A product video is a video type designed to give information about a product or service. Most product vids focus on the product’s features and key advantages whereas others describe how the product works and the problems it solves.
Types of product videos
There exist several types of product videographies, each of them suitable for one stage of the sales funnel. The most popular ones are:
- Explainer videos. These videos (as the name suggests) explain the product or service to the viewer.
- Product demos. Product demos focus on the aspect of the product instead. They show the product from different angles and, when possible, some of its key features.
- Feature videos. As opposed to product demos, these videos centre on the product’s features. They tend to be short and sweet.
- Tutorials. Tutorials are very detailed videos created to explain to users how a product works. They are the only product videos that are intended to be watched post-purchase.
- Comparison videos. In these videos, sellers try to persuade viewers to buy a product by comparing it to the competitor’s one.
- Testimonial videos. These are videos of customers who have already purchased and used the product giving it a positive video review.
- FAQs. Frequently Asked Questions (FAQ) videos are a compilation of questions that previous buyers and users of the product have asked.
Why do businesses use product videos?
Many businesses do not create these videos because of the investment required, but the truth is that product videos are worth the investment. On the one hand, product videographies are more engaging than other marketing tools. The higher the engagement, the higher the exposure and the likelihood to purchase a product or service. Besides, it has been proved that it is easier for people to remember a product if they have learnt about it from a video.
On the other hand, they increase brand trust. 58 out of 100 people agree on the fact that only businesses with video can be trusted. In addition, product videos are versatile assets. They can be used across multiple channels including the company’s website, social media channels and paid advertising.
Other benefits provided by these videos
- Increasing conversion rates. Having a video on a website can increase conversion rates up to 80%.
- Increasing click-through rates (CTR). The chances for an email to be opened increase when there is a video embedded in it.
- Rankings boosted. Product vids keep people on your website for longer. The time spent by a user on a website is called dwell time. As it is one of Google’s ranking factors, the higher the time spent by users on your website, the higher the likelihood to rank high on search engines.
- Video is more clickable and shareable than other types of content (e.g. images or text)
- Fewer returns. Videographies provide a more realistic view of the product or service. Consumers are then likely to receive a product that matches their expectations reducing total returns.
After reading this blog, you may have a better understanding of what are product videos and the main reasons why companies use them. Should you have any doubts, please do not hesitate to get in touch.
Thank you for reading,