In light of a recent post that zappos.com reported a 6 to 30% increase in sales on items that are accompanied by a video, I wanted to talk about “why” that is. There are a number of research reports on the rise in popularity of online video publishing use within the enterprise. Aside from the obvious answer of “increased sales,” the question of “why” is not so easy to answer. That is probably because we first need to definine "how" it works.
I have been reading the research of Dr. BJ Fogg lately. He directs research and design at Stanford University's Persuasive Technology Lab. He writes that for a consumer to make a purchase, requires a “behavior change.” His behavior model talks about the convergence of three things that need to happen for the change to happen.
There needs to be a “trigger” (cue, prompt, call to action, request, etc.), the consumer must have the “ability” (financially, access, simplicity of UI, etc.), and they have to have “motivation.”
One of his key concepts within motivation is “sensation.” Video, by default, combines the use of more human senses than other tools used in traditional sales and marketing scenarios. The more senses you, as a marketer, can stimulate in your audience, the more emotion and sensation you can evoke, aiding in motivating your customers.
IMHO, I also feel that a video evoking emotion or motivation in a potential customer could also serve as the trigger. Two for one. That should help your ROI if you are looking at adding online video to your marketing efforts and needing a video asset management system.
Of course, as more businesses realize the power of video in their marketing campaigns…those videos will need to be managed in a Digital Asset Management system. Have you ever heard of Widen? ;)