99% of businesses that already use videos say they’ll continue to do so. As a startup, you can leverage this popular medium in more ways than one – as an onboarding and training tool, a lead generation and conversion technique, or a customer retention strategy.
An engaging video can help bring new hires up to speed, raise awareness of your startup, and teach your existing customers how to benefit from your products and services. The possibilities are endless, especially if you keep the following in mind:
Everyone loves watching videos
Leading social media sites such as Facebook and Instagram promote video sharing as one of their most popular features, and they do so for a good reason:
- 45% of people watch an hour or more of video every day, finds HubSpot.
- According to Google, 50% of internet goers aged 18-34 would stop what they’re doing to watch a new video by their favorite YouTube creator.
- Research by Wyzowl says that 79% of consumers would rather watch a video than read.
It’s crystal clear from this that videos have already topped other marketing techniques, which is why 63% of businesses use this medium to grab consumers’ attention and attract a larger audience. Let’s not forget, your employees are content consumers too. Videos are so well-received among internet users because of its ability to compress content into consumable chunks of information. This format makes it all the more convenient, fun, and engaging.
Video helps raise brand awareness
Today’s ever-growing startup culture has become so fiercely competitive that making potential customers notice you
This, in turns, enables a business to reach new audiences on social media at the speed of light. As bounce rates for business websites that don’t offer videos suggest, potential customers are more likely to spend time reviewing your products and services if you add videos. Higher on-site time indicates higher engagement, which then encourages sharing.
According to HubSpot, 83% of consumers would share a video they like with their friends. The more shares your videos get, the more people will visit your website, resulting in higher traffic. Before you know it, your Google rank will improve too. Thanks to videos’ captivating format and their high sharability potential, most video marketers achieve a 54% increase in brand awareness through this medium (OptinMonster).
Videos boost acquisition & retention
Explainer videos make a brilliant tool for acquiring new leads and retaining existing customers, both of which is crucial for startup growth. In fact, video marketers get 66% more qualified leads per year (OptinMonster). HubSpot suggests that 95% of people watch explainer videos to learn more about a brand.
This is significant if your products and services are too complex to be understood by reading a “show and sell” marketing pitch. Videos capture more leads by simplifying your offer. The same is true for customer retention.
In this context, engaging explainer videos can also serve as post-purchase user guides and manuals, helping your customers achieve a higher rate of satisfaction. Satisfied customers will not only stay with your brand, accelerating its growth but they will also further your reach by sharing their positive experiences with other potential customers.
But what about conversion and ROI?
More qualified leads and bigger customer pool both amount to a higher ROI. According to Wyzowl, 85% of people are more likely to buy a product if they see it in an explainer video. By allowing them to see what they’re buying, videos build their trust in your brand. Statistics are clear on this as well:
- 76% of businesses say videos helped them increase sales (HubSpot).
- 83% of those using videos think they give them a good ROI (Wyzowl).
Of course, all this applies exclusively to those videos that meet the requirements set by modern-day online content consumers – convenient length and appropriate tone. To strike the right notes with consumers, a video must not be longer than one minute. The preferred tone is conversational and informal, just as recommended for content writing. Check off both of these boxes, and videos will help you grow and prosper.
Video excels at employee training too
Just because you’re still a startup, it doesn’t mean that you shouldn’t employ the best strategies for onboarding and training new hires. Videos can help you with that in a big way. As a part of your online training software or LMS software, an engaging video can impart knowledge to new hires much better and faster than FAQs and other text-based learning materials.
The reason is clear as a day – it’s more convenient and less time-consuming. Entire modules within your LMS software can be summed up in a couple of minute-long videos that feature eye-catching visuals and enhance employees’ learning experience.
While interactive training videos also appeal to different learner profiles, their easy-to-consume format makes them accessible on the go without clashing with your employees’ busy schedules.
As long as you know what your target audience needs, wants, and likes, an engaging video can help you grab their attention and keep it too. In addition to compelling content, the only other thing you need is some compelling videos. Even if it does take you some time to create and produce a video that trains, explains, captures, and retains, watching your ROI grow will still make it worth your while.