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CHANTILLY, Va. (Sept. 2, 2015) – BIA/Kelsey today released a new report that examines the use of video as an effective tool for driving conversions at every stage of the customer lifecycle. “Video: The Conversion Media” digs into the video marketing landscape and identifies winning methods for targeting customers at key stages in the customer lifecycle, including discovery, engagement, consideration, purchase and retention.
Among the report’s findings, video’s emotional power can reduce attrition in the funnel, increase engagement and commitment by customers to follow through on their plans to purchase, and keep an appointment. Video also gives companies who engage in post-sale support and community building their first chance to make the next sale.
“The cost of video production has plummeted in the last decade, falling by as much as 90 percent at the low end of the market,” said Mitch Ratcliffe, senior analyst and report author, BIA/Kelsey. “Today, almost any company can afford to shoot its own video, even small businesses, which now have many options for professional video production at a very affordable price point.”
The report draws upon interviews with top video marketing experts as well as data from BIA/Kelsey’s annual Local Commerce Monitor™ study of small and medium-sized businesses (SMBs), which revealed SMBs that used video in 2014 were more aggressive marketers across all media, spending an average of $43,635 annually on all marketing compared to $15,233 among SMBs that didn’t use video.
“Video: The Conversion Media” is a BIA/Kelsey Sponsored Research report, sponsored by bieMEDIA. Topics covered in the 23-page report include:
The report is complimentary and can be downloaded here.
BIA/Kelsey and bieMEDIA will present highlights from the report and discuss the current state of video marketing for SMBs during a free webinar on Wednesday, Sept. 16. Webinar details and registration are available at http://bit.ly/BIAK-VidMktgWebinar.
BIA/Kelsey Sponsored Research is commissioned by companies that wish to spotlight timely issues, trends and topics that have a bearing on the local media and marketing industry. BIA/Kelsey maintains full editorial control and applies its longstanding standards of editorial practice and objective market analysis.
BIA/Kelsey advises companies in the local media space through consulting and valuation services, research and forecasts, Custom Advisory Services and conferences. Since 1983 BIA/Kelsey has been a resource to the media, mobile advertising, telecommunications, Yellow Pages and electronic directory markets, as well as to government agencies, law firms and investment companies looking to understand trends and revenue drivers. BIA/Kelsey’s annual conferences draw executives from across industries seeking expert guidance on how companies are finding innovative ways to grow. Additional information is available at http://www.biakelsey.com, on the company’s Local Media Watch blog, Twitter (http://twitter.com/BIAKelsey) and Facebook (http://www.facebook.com/biakelsey). Stay connected by subscribing to the firm’s newsletter.