How Buying Habits Will Affect Your Business in 2023
Let’s talk about buying habits. A recent study of thousands of American adults conducted by international marketing research company Arlington Research discovered consumers prefer to receive communications from brands through video. One of the most prominent takeaways from the research was consumers’ desire for video. According to the study, 62% of respondents said they want more video from brands. And Gen Z and high earners wanted video even more with nearly 80% indicating they were more likely to purchase from brands and companies that use video to inform customers about their products or services. Simply put, the research revealed that if you’re talking to customers and want them to listen, you should be saying it with video. One of the reasons videos are so much more attractive to consumers is not because they are too lazy to read. Video has the power to communicate in a way that text just can’t. Video allows prospective clients and customers to become familiar and focus on a brand or product without being distracted by the seller or salesperson. Well-produced, targeted and effective videos also assist in increasing brand awareness and a product or service’s perceived value. Let’s talk through some of the reasons why using video to bring your products or service to the forefront of a client or customer’s mind is so effective. Videos are an excellent way to cover and explain a lot of information in a very short period of time. Unlike text, an infographic, or even the spoken word, video can leverage the senses in a much more impactful way than most of their respective counterparts. If you can manage to engage and entertain your prospects, you stand a much greater chance of them converting. Why? Because people respond to emotional cues. One of the biggest challenges to increasing conversion rates is actively engaging your prospects, and this is an area where video excels. If you can grab – and sustain – your audience’s attention, converting them will be so much easier. Video offers a unique opportunity to make your product and business entertaining – a considerable challenge for plain-old text-based marketing. Imagine your company sells insurance. Now, it’s no secret that there are lots of insurance companies out there all vying for the same customer’s attention. Now, take a few moments and write a short paragraph that will grab the attention of a prospective client. You might start by listing all the pitfalls of not having insurance and follow that up with a list of the reasons why having your company’s insurance can prevent those pitfalls – OR – you could show a video of a dramatic car crash or video of a flooded house with all the homeowner’s things destroyed by the water. You could have the victim describe how it felt to see their home or car destroyed, the trauma of living through the experience, and how your insurance company took care of them during a very difficult and traumatic time in their life. You don’t have to be a marketing guru to figure out which approach is going to grab a customer’s attention – AND keep it! In addition to grabbing a customer’s attention, videos can walk a prospect through using a product or service and explain the intricate nuances of the product much faster and more effectively than text ever could. By showing a customer the benefits of using your product or service in a more attractive, engaging way, video can connect to consumers by more effectively leveraging their senses. Companies and brands that understand their customers’ needs, desires, and emotions and how to connect with them quickly and effectively will be much better positioned to fulfill them. If you’re interested in learning more about how you can harness the power of video to attract, gain and retain more customers and clients for your business. We’re a video marketing agency that understands small businesses and would love to help you.