Video Marketing

Explainer Videos Boost Purchase Intent Up to 72%

Ben Blanki
March 20, 2017
Business man watching explainer video||How Explainer Videos Boost Purchase Intent-Fiverr||How Explainer Videos Boost Purchase Intent-Fiverr||The Value of Video for Brands

Video's popularity is skyrocketing. Between streaming services like Netflix and the thousands of hours of video uploaded to YouTube every minute, video now accounts for more than 70% of all internet traffic, according to a 2015 research from Sandvine. And research has shown that four times as many consumers would rather watch a video than read something about a product.In short, the world is addicted to video, which is why demand for explainer videos has exploded among Fiverr's wide network of expert videographers.In a study with Facebook, Nielsen found that simply using videos like these in marketing can boost purchase intent by up to 72%. Pretty amazing, we know. Here are six reasons why explainer videos in particular drive purchase intent

The Value of Video for Brands

(Source: Facebook business)

1. Videos are more seductive

Not only are they fun, but, as Dr. Liraz Margalit, Ph.D. and video expert, explains in Psychology Today, "videos are also much better at seduction." They create emotional anchors with audiences that improve recollection and positive feelings. Why? Because by seeing it, our brains think that we're actually doing it. Dr. Margalit's research revealed that watching videos activates the same neurons in our brains as the actual activity. Thus, if you want an emotional connection with your audience, explainer videos make it personal.

2. Videos convey more information faster

Videos are more effective at education because they're multimedia. Instead of text, images, or audio alone, they're all three, and this allows for much greater information output. This matters today more than ever, as customers have shorter attention spans — so you only have about eight seconds to hold their interest. The more content you can convey and have them remember, the better, and video packs a big data punch: a single minute of video is said to be worth up to 1.8 million words. Can you imagine how long it would take to read that blog post? (We did the math: It's a little over four solid days.)

3. Explainer videos let you tackle more complex subjects

When you get to explain in 3D, you can do it much more thoroughly, and help customers really understand why your product or service is better. For example, UPS can explain the complexities of a global supply chain via YouTube, while AT&T has started using videos to explain an extremely complex topic to its customers: its bills.Here's a great example from Fiverr's YouTube channel that explains the importance of a personalized video intro:

4. Video is easier for audiences to consume

What do you do when you've had a long day and just need to chill out? You watch TV or Netflix. You do this because your brain is overtaxed and you're looking for activities that don't require brainpower.According to Dr. Margalit, video is the perfect low-power medium because watching it is passive consumption. And not only that, but when people are in this passive mode, they're more susceptible to the power of suggestion (read: advertising). So, whether your viewers are peppy and over-caffeinated, stressed out, or brain-dead after a long day, video can still impact them all.

5. Millennials love video

The massive Millennial consumer base is quickly overshadowing Generation X and the Baby Boomers in purchasing power, and when it comes to planning your marketing, what they say is important. They're now 80 million strong and a majority of them:

  • would rather watch a video than read a newsletter
  • find videos useful when comparison shopping
  • find product demos helpful.

6. Videos make your brand easier to find

Video is all the rage and search providers and social networks like Google, Facebook, and Twitter have all tweaked their algorithms to prioritize it. Right now, 70 percent of the top 100 Google search listings are videos, and Facebook in particular wants businesses to create more of them. According to Recode, Facebook is ensuring that video shows up more often in users' news feeds and is even going as far as to pay celebrities to use and popularize it. The result is an ecosystem that's welcoming to your explainer videos. So, get out there and just do it. Explain and promote your products using the best medium for it: video.

Need help with your explainer video? Get yours made through Fiverr—check out our experts here.

Ben Blanki
Growth Hacker & CRO Team Lead at Fiverr. Constantly testing strategies and funnels for increasing the percentage of visitors to a website that convert into customers.
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