How effective can video marketing be?
Generally, I know people retain information better when it involves both seeing and hearing...
Ann Marie Pettis, RN, BSN, CIC, director of infection prevention at the University of Rochester Medical Center in Rochester, N.Y., explains that retention varies by learning method and that individuals retain:
- 10 percent of what they read
- 20 percent of what they hear
- 30 percent of what they see
- 50 percent of what they see and hear
- 70 percent of what they say
- 90 percent of what they teach someone else
Who can forget the financial crisis in 2008? Most of us had concerns, even anger as the crisis unravelled before our very eyes through the media. We all took soundbites during this time but very few of us could truly explain what had happened and why.
Jonathan Jarvis, as part of his thesis work in the Media Design Program, a graduate studio at the Art Center College of Design in Pasadena, California, had this brilliant idea to make a video explaining the crisis to those unfamiliar and uninitiated, with graphics, animations and simple words: “The Crisis of credits Visualised"
Interesting how this video presentation is able to make what was a complex problem much easier to understand.
Looking around, there's plenty of statistics highlighting the value of video:
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A minute of video is worth 1.8 million words according to Dr. James McQuivey of Forrester Research. (Forrester, January 2009)
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Over 90% of shoppers surveyed found video useful in making purchase decisions, according to a study of Swimwear Boutique customers. (Internet Retailer, October 2010)
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Visitors who view product videos are 85% more likely to buy than visitors who do not. (Internet Retailer, April 2010)
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According to Cisco, video will increase from 30% of Internet traffic to 90% of Internet traffic by 2013. (Cisco, 2010)
So how about using video in your dealership? Next time I'll reveal how some dealers are already using video successfully and I'll highlight a host of other ways which are yet to be explored.
Submitted by: Aurelie Longo
