Basically, a conversion rate displays the total number of visitors on a website who choose to do more than just look at the contents of the site as a consequence of requests (these can be direct or indirect) coming from advertisers, content creators and marketers. Thus, an ideal conversion would be different for different advertisers, content creators and marketers, depending on the desired result.
For example, a successful conversion for content creators would mean a subscription to the newsletter, software downloads member registration, or any other activity that benefits them directly. The same also goes for online retailers who find a customer shopping for items even though the individual had intended on just viewing the content.
Since conversion rates are important factors in determining the success or failure of an internet marketing technique, it is crucial for video developers to understand the exact relationship that exists between explainer videos and conversion rates.
What many people don’t know is that numerous businesses are utilizing explainer videos as a conversion tactic to improve their conversion rates. That’s because explainer videos dictate the story of a company in a precise and alluring way, i.e. the audience readily agrees to what the company has to say. Now, these videos may be animated through digital or hand drawings or even claymation. Regardless of the animation technique, explainer videos are an ideal way of conveying the desired message in an effective and noticeable way.
Salesforce’s work.com is a prominent example of how conversion rates can be increased through explainer videos. This management platform for social performance recently introduced an animated explainer video on their homepage leading to an increase in conversion rates by an amazing 20%. Among the people who visit work.com, around 30% watch their video and about 50% of these individuals prefer watching the video till the very end.
Another example of successful conversion marketing is provided by Dropbox. Being another average startup, this site had firsthand experience regarding explainer video effectiveness when they posted just one video over their homepage. As it turns out, the posting of this video led to an increase in conversion rates that was more than just 10%. As the video is viewed almost 750,000 times every single month, the page gets more than a thousand signups every single day.
According to some studies:
- Individuals who watch an explainer video online have a 64% chance of purchasing products/services in comparison to sites where these videos are not available – Comscore
- A report called the “Frames of Reference: Online Video advertising” which was published by the OPA (Online Publishers Association) stated that of the 80% who viewed an explainer video, 46% took action one way or another. According to the same report, around 22% of the viewers visited the page due to an advertisement, 15% were interested in the company, 26% wanted additional information, and 12% went ahead and bought that particular product.
Hence, explainer videos are exactly the kind of tool you need for effectively increasing your conversion rate within a short span of time.