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Customer retention is critical to the long term health of every business. Maintaining a stable customer base increases revenue and decreases costs. Incorporating video into your customer retention plan is one strategy that has proven benefits for both you and your customers.

Economics of Losing Customers

According to one study, repeat, loyal customers make up roughly 70% of all revenue for the average business. Furthermore, the cost of retaining a customer is usually roughly 1/5th the cost of obtaining a new customer. That is a remarkably good value to cost ratio.

What Makes You Lose Customers?

The main reason that businesses lose customers is because a customer has a bad interaction with that business. This could be a bad interaction with your staff, but more likely it is a bad interaction with your product.

Bad interactions don’t just happen because a product is poorly designed or has some kind of flaw. Many bad interactions occur because customers simply don’t fully understand how to best use the product for maximum value. Thus, it is critical that any customer retention plan involves customer outreach that helps customers get the most value from their product.

How to Incorporate Video into Customer Retention

Videos offer a simple and engaging way to show customers how to get the maximum value from your product. The best videos for supporting customer retention focus on the “hidden value” in your product. For example, you can make a video that shows how to use your product in an a way that most customers might not think to use it. This adds new life to your product. Similarly, a video that shows precisely how your customer can save money using your product and details exactly how big those savings are, will increase the perceived value of your product. Both approaches create a positive interaction and increase the likelihood of retaining a customer.

Long Term Benefits of Customer Loyalty

Customer loyalty has cascading benefits. Many people are likely to switch brands when they see others leaving that brand. Similarly, when people are remaining loyal to your brand, you benefit from word of mouth advertising and may find your customer base expanding. This means that your videos aren’t just influencing the customer that watched them. They also have influence on customers and potential customers who didn’t, increasing the value of this tool on your revenue.


Posted in: Online Videos, Video Marketing, Video Production Tips

Just how important is video to B2C and B2B marketers? If you are operating a business, your goal is always to be to grow it by attracting new people to it. Video helps to make that possible. Often, the focus on video isn’t always clear. It’s easy to see why some companies may use it – their media professionals told them to – but, the metrics we have can clearly show the importance for using video throughout your communications. Let’s take a closer look at the importance of using video even if you have never done so before.

What the Surveys Tell Us

The Content Marketing Institute provides a great deal of information on this topic. In a recent survey, it found some key facts:

  • 83 percent of B2C marketers are using video as a part of their marketing strategies.
  • 82 percent use social media site YouTube as a connection point.
  • 59 percent of these B2C marketers actually see video as an effective tool, though.
  • And, 53 percent believe YouTube is an effective platform.

Now, consider the stats from Content Marketing Institute for B2B marketers:

  • 79 percent of these marketers are using video as a type of content marketing method.
  • 74 percent are using YouTube for their launch of videos on social media.
  • 62 percent find video to be effective in this segment.
  • 51 percent say YouTube is an effective place for videos.

Now, there is a lot of room for improvement in these numbers – even if the majority of people are using the tool. But, what’s important here is to look at why so many have yet to tap into video.

What Is Your Marketing Strategy?

Many B2C and B2B marketers see the company’s website as the heart of their marketing campaign. Social media channels, including YouTube are often thought of as secondary and feeding into the website. And, when you look at the actual numbers, YouTube doesn’t seem to be the place to go to convert viewers into buying customers. So, why would they invest in video?

However, you know the importance of video if you are a marketer. If you are a business owner, it is clear that your customers really do want to see video. But, how do you turn the page and actually start seeing improvement through the use of more video? Here’s where it needs to start:

  • There’s a significantly important detail that’s hard to drill down – just how many people watch video and use it, over and over again to influence the decision to buy. It’s important to understand how your users interact with the videos at your site and YouTube.
  • It’s important to ask customers where they heard of the company as well. To see this, it’s important to provide options on customer services for “YouTube” or online videos.
  • Define what the most important metric is for your organization. When Content Marketing Institute asked this question, they found that 30 percent of respondents said it was sales, the highest number.

The bottom line, though not always clear, is that most B2B and B2C marketers need to better embrace video as it relates to their organizations. When you do, you’ll see that it really does impact sales and grow business brands. Though it may not seem like the only option, it is one of the best ways to connect today.


Posted in: Video Marketing

Testimonials, price quotes, feature highlits, e-books, Youtube personalities – they all harness the power of video content marketing in some way. Many have understood the prevalence and influence of video – with results to show how effective and versatile it can be. Marketing and science typically do not overlap, but there are very concrete factors that make video one of the most effective mediums for marketing:

1. Vocal Inflictions Say A Lot

Vocalization can bring out sympathy, happiness, excitement, and even a sense of familiarity. Not only does the added voice act as a stimuli that can help increase retention metrics, it is used to convey and deliver a message. It transforms emotionless text, into breathing content that has the power to influence.

2. Personalization of Brands

Video allows business to become “human”, forging trust with prospective customers and creating brand loyalist from regular customers. Customers are simply drawn towards video due to its human element, especially when juxtaposed over written text. Video marketing that is effectively used can bring about strong ROI, while allowing the customer feel familiar with your product or service. It is a win-win situation.

3. Emotions Are Contagious

When you are highlighting the features of your products, you can convey excitement by using a person’s face. People are wired to relate to a human face, making video marketing highly effective.
According to 70 percent of marketers, video converts far better than other types of marketing. Internet users are consuming more and more video. The current attention-driven economy demands content that is interactive, educational, and direct. Video content beats text-based content when it comes to engagement.

One of the positive aspects of video content is that it works well with other forms of marketing. Videos can be used as a promotional platform to catapult your website, newsletter, or email subscriptions. Attaching a video into a newsletter tends to reinforce subscribers, increasing click-through rates. Video marketing also forces the viewer to sit on your website for longer, which is an element that Google and other search engines favor.

Video is also more accessible than ever. Over are the days of primitive video players on flip phones. Prior to the evolution brought about by the original iPhone, it is deemed a manufacturer’s suicide to not include a dedicated video player on all cell phones. Powerful desktop and laptops, and the onslaught of tablets, has made video content more popular than ever. A video creation team will allow small and large businesses to harness the persuasive power of video content. Long gone are the large production budgets needed to make testimonial videos, many video content curators are able to work within the means of your budget.


Posted in: Video Marketing