When you see an online video, you instantly know that it is a powerful medium, and that it sure can help your business and brand. But when dealing with the decision to make on, it’s natural to start thinking about the hard data of the current video consumption habits as well as how that return on investment will look on.
While video viewing numbers are easier to find, the data on video conversion rates are more scattered around studies and posts, so we thought to gather some right here:
– research by comScore found that people are more likely – by more than double – to take action and visit a site upon seeing a video than controls that had not watched it;
– online store StacksAndStacks.com claimed that visitors were 144% more likely to purchase a product after seeing a video of the product than those who didn’t. That’s an astonishing number!
– back in December of 2009, another retailer – Ice.com – found that viewers who chose to view video converted at a 400% increase over those who didn’t. Ice.com also credits video with decreasing returns by 25%;
– Onlineshoes.com provides us with another example, of a conversion at a 45% higher rate than other shoppers, and the site has seen a 359% year-over-year increase in video views. Product pages with video have higher conversion rates than product pages without video;
– another shoe internet retailer, Shoeline.com, saw a 44% increase in online sales conversions by using videos to showcase their products. (Internet Retailer, January 2009)
– Living Direct found that videos boosted conversion as well as increasing time on site by 9%. (Internet Retailer, October 2010);
– merchants such as Archie McPhee experienced conversion rate increases averaging 30%, with a range from 12% to 115%. (Practical Ecommerce, November 2008);
– in one campaign including video in an email campaign drove a 51% increase in subscriber-to-lead conversion. (Blue Sky Factory Webinar, 2010)
– Treepodia calculated the conversion rates of several types of business around the internet (for Q4 of 2010) using their ecommerce video platform, and found the followin:
– and a more recent example, Pegasus Lighting boosted conversion by 27% with on-site video;
So as you see, there a wide range of numbers, from 9% to 400% conversion rate, and it all comes down to the volume of you business and the goals you set out to convert to. And of course, you’d want to have the maximum conversion rate possible, but even with the lowest number in this sample… which company wouldn’t take a 9% conversion rate increase?