Why video testimonials are so important to profitability
Whilst written testimonials have worked well in the past, there is now much scepticism surrounding them. Why video testimonials are so important to profitability
Video testimonials are a powerful affirmation of your business. When a potential customer watches a video of someone “just like them”, who is endorsing your product or service, they are far more likely to purchase from your company, rather than your competition.
You might initially think that a testimonial is simply one of your customers saying how fantastic your business is. However, you can be far more strategic than this. The most effective approach is to tackle your potential customer’s barriers of sale.What is a barrier of sale you may ask? It is simply an objection that, if not overcome, will prevent a sale from proceeding. Here are the three most common barriers of sale.
- Price: “It’s too expensive”
- Time: “It’s going to take too long”
- Trust: “Does it work and live up to its claims?”
Your potential customer usually has some or all of these reasons why not to buy from you. Once these issues have been resolved, and there aren’t any further objections, your customer is clear to proceed with their purchase.
The good news is that video testimonials are ideal for dissolving these barriers of sale. Imagine that you can share a video featuring a customer who initially had doubts but, with the benefit of hindsight, is now positively reviewing your business. This is gold. A customer testimonial is far more effective than you talking about your business.
To get the best outcomes from your video testimonials you need marry together one of the barriers of sale to a customer and focus their testimonial around that one objection. When you have built a library of video testimonials, where each one is addressing a specific objection, you then have a very powerful sales and marketing tool at your disposal.
It is possible that all three of the above barriers of sale could get in the way of a new client signing up. Lets explore how you can tailor a video testimonial to each objection. In this example we will use a new home builder.
The first objection is price. The initial step is to find one of your customers who were concerned about costs, but now that they are benefiting from living in their completed home, have changed their opinion about the price.
The essence of this testimonial would be around value for money and a short version would sound like this “When I first heard how much it would cost for the home we wanted, I initially was very reluctant to commit. However, now that I have seen the attention to detail and the quality of the design and materials, I can honestly say that the value I see in my new home is phenomenal and far surpasses the price – it is great value for money and I highly recommend that you sign up with XYZ builder today!”
So, you see how simple it is to negate a barrier of sale with a video testimonial? In this case, if any potential customers who is price sensitive watches this testimonial they will think; “Oh, ok, maybe it’s not so expensive after all”.
The second objection is time. “Building always takes longer than expected, it will never be finished on time”. It is very powerful to create a testimonial with a customer that initially had this thought. Now they have seen how quickly you actually delivered on your promises to complete the build they now have a completely different perspective to share.
The third barrier is trust. “Can I be sure that XYZ builder is going to do what they say they will do?” Simply find a customer who had these initial thoughts and focus the testimonial on reliability and honesty in order to counter this objection.
Keep in mind that you can’t tell your customers exactly what to say. It is very important to maintain authenticity otherwise the video will come across fake and do more harm than good. By being strategic with this simple formula, you will achieve a far better ROI than simply asking customers to “say a few words about your business”.
Video Testimonials can also be used to tell a larger story by weaving together elements offered from other stake holders. This product video that we produced for timber and hardware supplier, Bowens, The Builders Choice features three key elements.
1. Builder testimonials
2. Supplier info
3. Bowens point of view
The end result is that the video didn’t feel like a sales video but was more an educational piece designed to add value and inform builders of a new and innovative product that can help them solve water related problems.
When used correctly, video testimonials have a positive impact on attracting customers and generating sales. They are still a relatively untapped strategy and without a doubt, have significant potential to grow your business, no matter how big or small.