Facts and figures
Portfolios, quotes and great scripts mean nothing unless the explainer video works, right? They’re a hard thing to gauge, especially if you’re not sure how to quantify their success. So, do they work? Let’s take a look at some facts and figures we found while researching the matter.
- A video is 50x more likely to show up on page 1 of google search results than text based web pages. (ReelSEO, Forrester)
- Part of Google’s algorithm for search rankings considers the amount of time visitors stay on your website, which is one reason online video is seeing explosive growth.
- The average explainer video is watched on average for about 2.7 minutes, compared with 28% of website text shown to be read on average. (Statisticbrain)
- Visitors continue navigating your website for an average extra 2 minutes after viewing a video (Diode Digital)
- Buyers and sellers can typically visit an average of nearly 5 websites before deciding which product to purchase. When you add video to your website, this number decreases to less than 2 (AgentImage)
- 18 Million Words – The value of 60 seconds of video, or the equivalent of 3,600 average webpages. (SMK)
- 100 Million – The number of people watching at least one online video each day
- 64% – How much more likely website visitors are to buy a product on an online retail site after watching a video
- 60% of users watch video content before reading text on the same page (Diode Digital)
- Video constitutes 50% of all mobile online traffic and over 90% of internet traffic (Diode Digital)
- 20% of people share videos on their cell phone and 41% watch videos on their cell phone (Pew Center)
- 72% of people watch YouTube or Vimeo Videos (Pew Center)
- 90% of information transmitted to the brain is visual, and visuals are processed 60,000X faster in the brain than text. (3M Corporation)
- Photos are liked 2x more than text updates, while videos are shared 12x times more than links and text posts combined (SproutSocial)
- Not only do videos provide a 74% increase in your visitors’ understanding of your product or service compared to pictures, but they also increase the likelihood of your visitors purchasing your product or service by 64%. (Quicksprout)
Visual and verbal learning
A recent study of 221 undergraduate students showed that 105 were visual learners, 105 were bimodal (meaning no preference), and only 11 were verbal. Explainer videos take advantage of this by offering visual and verbal cues for learning. This appeals to all three groups. It’s also been shown that people retain over 50% more information through the use of visual and verbal learning cues.
Explainer videos force you to compress your product offering into 60 to 120 seconds and 150 to 300 words. This exercise requires businesses to find the best way to clearly and quickly convey the benefit of their product or service. Video scripts limit the number of words, requiring more to be said with less text.
On average, conversion rates are boosted by anywhere between 15-50%. When dropbox started using an explainer video, they picked up 5 million new customers and made over $24 million in additional revenue. I’m not saying that you’re going to make $24 million if you have an animated video created (though, who knows?) but if you increase your conversions, even by 10-20%, isn’t that worth it? Remember, this wouldn’t be a one time deal, the video will help on an on-going basis.
Explainer videos increase conversions, sales and revenue greatly. It just works… However, there is a little more to it than that. You can find out what to do with your explainer video to get the most out of it in this blog post: You’ve got yourself an explainer video… Now what?.
Interested in having an explainer video produced? Got a question? Feel free to shoot us an email!