Online Video For Business – 3 Reasons Your Company Should Implement in 2010

The Internet started as a text-only medium of communication with largely bulletin boards and eventually e-mail. It progressed to be a more interactive experience and expanded into millions of homes, beyond college campuses and technology institutes. Websites started including pictures, navigation, music, and other enhancements to appeal to viewers. By the end of the 1990s, Internet sites still relied mostly on pictures and sleek navigation to appeal to users. As YouTube skyrocketed in popularity, the integration of online video to professional Websites started to become more common place. Now, offering a Website with only pictures is like running a rental store with only silent movies; Web users and customers expect a more interactive experience, complete with videos of products, services, or people. Websites that include videos offer users more detailed information about products and services, give businesses an opportunity to control the way information is delivered, and increase the conversion rate of visitors to customers.

Captivate Your Audience and Capture Your Customer

One of the great advantages as a Web user to Websites with videos is the ability to see in more detail what one is buying before the purchase, or to learn more about a service before inquiring further. Before purchasing a movie ticket, viewers usually watch a trailer for the movie, showing them more about what they are paying to see. With an apartment complex or hotel, rather than just see lifeless still photos, videos allow people to see the community closer to the way they would actually see it if they were to visit in person, though inevitably somewhat idealized. Seeing people enjoying amenities through a web video is a lot more interesting than seeing pictures, though, because pictures are less capable of capturing the human element or evoking emotion. Another great benefit is seeing a product demonstration video about how a technology product actually works, step by step, so that the potential customer can see how easy it is to use, allaying fears about it being overly complicated or too technical to setup properly. A long, detailed text page with a few pictures about how the product works is a nice addition to video, but not a substitute. Unlike a site with just numerous navigational sections, pictures, and text, a video allows a business to control the way information is given to potential customers.

Better Control of Your Message

On an old Website, the only way to display information was in a logical fashion where the business hopes that visitors click around the site in some sort of sequential order. If a person clicks through the pricing section first, without seeing what the product does, or what services are offered, they may just close the site and go elsewhere. But if they have a video they can see on the home page about what a great product or service the business is offering, they will be less surprised when they see the price. Whereas with a standard Website, the visitor clicks around at will without having much direction, a prominent video on the home page gives them a starting point before looking for more information. It allows the business to control the way the information in the web video is displayed and how it is presented, giving back some control while at the same time giving the site visitor a lot more information that is helpful for their decision-making process as well, which makes them more likely to purchase a product or service from the business.

Improve Sales Conversions

While tracking of such statistics across a broad swath of the Internet is difficult, numerous sites have attested to Web videos converting visitors to clients at a much greater rate than sites with just text and pictures. One of the more well-published studies, by FindLaw (LawyerMarketing.com), indicated that visitors go to an average of 4.8 Websites to find an attorney, but when lawyers added video to their sites, the number dropped to 1.8. In other words, the presence of online video made visitors likely to select a lawyer much more quickly. The Discovery Channel Store did an independent study when the company added video to their e-commerce store and experienced an increase of 78% in sales when customers viewed the product video. A company called iAds integrated their video ads for Tandberg Video Systems, which had a conversion rate of 0.75 to 1.00 percent, but with videos the conversion increased to between 1.5 and 3.0 percent. Numerous such stories are available and there is no doubt that offering video on Websites helps businesses compete more effectively and gain more customers.

With the advance in broadband Internet connections and the high penetration such technology has seen in recent years, most customers have access either at home or at work to high-speed Internet, allowing them to view online videos that give them more information about products and services, help them make decisions with greater confidence, and give businesses greater tools to demonstrate what they offer. In the years to come, companies from all industries and across the Internet will be adding videos to compete more effectively and market themselves with greater confidence. The companies that adopt last will be losing business to companies that have cutting edge videos and quality products or services to offer. Ultimately, the reputation of a company and the products or services they offer will still remain the long-term key to success, but marketing remains an important part of any company’s ability to attract new customers. The professionalism and class of the videos offered online will be the key to competing effectively for years to come.

Small Business Marketing FAQs

What is a small business? The government has introduced certain criteria including the number of employees, annual receipts, affiliates and other applicable factors to identify a small business. It can be quickly determined by using SBA’s NAICS (North American Industry Classification System) Lookup. Enter the business description; NAICS will locate the business type in the resulting table.

What is marketing? Marketing refers to the commercial processes involved in promoting, selling and distributing a product or service.

What does marketing involve? Marketing is an organizing tool. The four basic aspects of marketing include the four Ps such as product, price, promote and provide. It involves market research, formulating strategy and selling based on two important principles. The first principle states that all company policies and activities should be directed toward satisfying customer needs. The second is that profitable sales volume is more important than maximum sales volume.

What is marketing strategy? Marketing strategy is the summary of the marketing goals. It is the formulation of the methods used to achieve the marketing objective.

What are the major constraints for small business marketing? The major constraints for small business marketing include budget limitations, lack of adequate resources and tough competition.

What are the important collateral marketing materials? Collateral marketing materials consist of printed marketing materials. They include brochures, business cards and news letters.

What is the importance of advertising in small business marketing? Advertising plays an important role in small business marketing. It helps to influence people with attractive marketing materials such as banners, sign boards, magazine and directory ads as well as trade booth displays.

Choosing the Right Business Brokers

Whether you’re buying or selling a business, having a broker on your side can make the difference between a successful outcome and a nightmare. However, not all business brokers will be suitable for your specific situation. Use the tips below to choose the right broker for your needs.

Start by asking for referrals from your inner circle of business advisers and colleagues. Have any used a business broker in the past? Were they satisfied? Does the broker handle the type of transaction you have in mind?

You may need to widen your net to find a pool of qualified business brokers that specialize in brokering deals such as yours. Once you have several potential brokers, it’s time to get down to business and narrow the field down. Below are several key factors to consider:

– Is the individual or firm professional? Professionalism shows in numerous ways including personal appearance, the presentation of marketing materials, website, language, mannerisms, and expertise. Use both objectivity and your gut instinct. Remember, the broker you choose will be representing your business so make sure you’re fully comfortable with the person and firm you choose.

– Does the broker have experience working with businesses like yours? While it’s not necessary for the business broker to have specific experience in your exact niche, it’s helpful for the broker to understand the nature of your business and have experience brokering deals with similar characteristics. For example, if you run a family-owned microbrewery, a broker with a successful track record brokering deals for small wineries, family-owned specialty food manufacturers, or small brewpubs may not know the finer points of brewing beers but could be an excellent choice thanks to experience with similar businesses.

– What qualifications does the broker have? Look for licensing, education, certification, experience, and membership in professional associations.

– Is the broker well prepared? In other words, did the business broker do his or her research prior to your initial meeting? Brokers use comparable sales, business and industry reports, and other tools to price businesses. Your business broker should be able to support any suggested listing prices, which should be presented in writing, with documentation.

– If you are selling your business, find out how the broker intends to market your business. Brokers have many marketing tools available to market their business listings. However, some prefer to use specific marketing techniques over others. Make sure to ask the broker to present a detailed marketing plan.

– What type of businesses does the broker work with? For example, if your business has annual revenues in the $50 million range, you’ll need a special type of buyer making it important to choose a business broker capable of attracting those high net worth individuals and investors.

– Check references. No matter how professional, personable, experienced, qualified, and prepared potential broker appear, cover your bases by checking references. Ideally, the broker should give you references from businesses with similarities to yours.

Choosing the right broker to sell your business or help you find a business to buy is a process. Do your part to ensure a successful outcome by choosing wisely.

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