A testimonial is a feather in the cap of a business. It is a review that records the views of a customer about the business, its products, and services. It is the best way of promoting a product and establishing a business. For a business to establish itself, it needs loyal customers who bring in revenue and help increase profitability. The best way to do this is to tap into the existing customers and use them to bring in new business.
This is the power of word of mouth marketing, where the words or recommendation of an existing customer can bring in new business. This is where testimonials can be of use. The testimonial will help someone planning to buy your products understand more about your product first hand from another customer. The testimonial will be even more powerful if it is in the form of a video, rather than in text form.
Alex Chiu said – “Testimonials are enough to convince people for now”.
How Are Video Testimonials an Effective Business Tool?
A video testimonial is nothing but the review of a brand or product by a customer in the form of a video. Instead of writing a review on a website, the customer narrates his/her experiences using the product on camera. This form of a testimonial is preferred not just for businesses but even for customers.
Let’s try to understand how video testimonials can be an effective tool for a business to establish itself —
1. Today’s trend is favoring video. Sometime back, text-based content used to lead when it comes to online content. One of the reasons for this is internet costs and low bandwidth. The rapid expansion of the internet, the fall in data prices, higher bandwidth, and preference by customers to use smartphones for internet access have led to videos being favored. Of the various forms of content marketing, video marketing is the most popular form and preferred by marketers and customers alike.
According to estimates, 82% of all internet traffic will be done through video content. Videos would be preferred by online users for all their needs. This will ensure that video testimonials will become more popular. In fact, video testimonials will be the new standard for reviews in the years to come. This is why a business must start using video testimonials from today to reach out to new customers and build their business.
2. A survey was carried out by the reputed agency AC Nielsen covering more than 30,000 customers. The study revealed some interesting facts:
- 83% of those surveyed said that they would believe in the recommendations of family members and friends.
- 66% of the respondents said that they would give value to the opinion of customers posted online.
- 88% of consumers tend to believe online reviews
From this study, it is clear that online testimonials are valued by consumers and can influence their buying behavior.
3. A video testimonial can help your business enhance its credibility. There is no other better tool to establish your business. While online reviews are popular, most readers take it at face value. People whose photos are not displayed and who do not even use their real name post most of the reviews. This can lead to a lack of credibility. A video testimonial is credible as it involves a real person sharing his/her experiences. The video of the customer ensures credibility as a viewer would believe what he sees. Credibility is the biggest highlight of a video testimonial.
4. A video testimonial is the best way to connect to a customer. A business can succeed only if it can connect to customers, especially by establishing an emotional connection. A video testimonial gives you the best way to do it. In the video, you will have a customer sharing his experiences using the product. This can be narrated in the form of a story. The narration of the experiences and the power of the visual image helps to create an emotional connection with customers. The viewer would believe the experiences of the customer and find a connection to it. This is the best way to convince a customer to believe in you and help you earn revenue.
5. The power of a video testimonial lies in the fact that a potential customer would view a well-made professional video that presents the benefits of a product. This is what a potential customer wants. Someone planning to buy your product will want to understand the benefits it offers. This is something he wants to hear from the mouth of an existing customer. This is what the video testimonial offers him. A credible review of a product that highlights a real customer’s experience of using it and the benefits from it. This is the best way of winning over new customers and establishing a business.
6. Many marketers spend a big budget creating advertisements using celebrities to win over customers. Customers realize that the advertisement is a promotional effort. The testimonial, on the other hand, would be viewed differently. A potential customer would view the testimonial as a realistic narration of the benefits he would get by using the product. This is what makes a video testimonial believable and is a great promotion tool for your business.
7. The video testimonial has a direct bearing on the decision making process of the customer. When a customer is confused about which product to buy and is not able to make a decision, he would look for information to help him make the decision. The customer looks for information on the benefits a product gives, its value, and whether it is reliable or not. The best way to get this information is through the video testimonial. The testimonial provides credible information that can directly influence the buying decision of the customer.
Studies have shown that 95% of shoppers rely on testimonials before buying a product. This would be especially true when the product is one that is expensive. The studies have shown that positive testimonials can lead to conversions and bring revenue for a business. You can expect up to 190% conversion through positive reviews if your products are low-priced. If you have a higher-priced product, then you can expect the conversion of up to 380%. If your business has more positive video testimonials, you can expect a customer to spend 30% more on your business.
8. When you create a video testimonial, you can upload it to your website. You can also post it on social media, through which you can reach out to more customers. Social media platforms like Facebook, Twitter, and Instagram are extremely popular. If customers like the testimonial, they will share it and this can be viewed by their friends and followers. In this way, your video testimonial can go viral and spread very fast. This allows you to reach out to more customers quickly, easily, and in the most cost-effective way. It is truly the best way to establish a business.
The benefits explained above clearly explain the power of video testimonials. If you want to establish your business and bring in new customers and higher revenue, then there is no better tool than a video testimonial. It is an effective promotional tool for businesses to bring in revenue.
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Aleksi Halsas, CMO at Trustmary offers a customer and employee testimonials that create appealing content to engage the readers all around the world. To boost marketing and sales with high-quality video testimonials is the author’s keen desire.