For years, marketers have been preaching the effectiveness of video, but several insurance companies thought it to be an expensive and time-consuming method. Thanks to tablets and smartphones, video-making has now been made easier and more accessible.
A video can help record a perfect message from your company to clients and customers, and that video can be played as many times as required, anytime, anywhere.
It’s no secret that videos have become one of the most popular choices of content. According to the research, about 96% of the customers have increased their online video consumption. At least 9 out of 10 viewers say that they want to see videos related to businesses and brands. Experts say that in 2022, an average person may spend 100 minutes each day watching online videos.
In the fast-paced world that we live in today, the products and services provided businesses need to stand out to gain attention. Video is a powerful part of the marketing strategy that every business, including insurance companies, needs to reach their customers more efficiently.
5 Reasons Insurance Companies Need To Include Video Content
To boost insurance sales and increase growth, insurance companies need to update the way they carry out their sales. At this point, customers are looking for a deeper sense of interaction, which is made possible through video content.
To create quality videos in time for your next marketing campaign, a video maker is a perfect solution. Video makers come with multiple templates. They are fast, affordable, and have automated voice-overs, thus simplifying the task.
The clients you are dealing with are getting bombarded with constant marketing messages. This makes customer building even more challenging. Nowadays, marketers are coming up with multimedia and video content that are clear winners in the digital world. There’s no doubt that audiences are also enjoying this video content, and, in fact, when they are well-crafted insurance companies, the businesses sell more and fetch more customers.
A study found out that videos helped organisations with a conversion rate of 6.7%, higher than the 3.36% of the non-video makers.
This article will help you understand why an insurance company like yours needs to include video content to boost sales and attract customers.
1. Video Builds Trust
Customers can now quickly search reviews and testimonials online. These reviews and testimonials play a significant role in decision-making. About 88% of the customers say that they trust online reviews, like personal recommendations. About 72% of individuals agreed that positive feedback makes them trust the company more.
Studies have also found that four times more customers would watch a video about a product rather than read about it. The current insurance marketing circles prioritise customer experience, and creating video testimonials helps the customer understand the buyer’s journey.
Video makers can help make a long-lasting impact on customers’ minds. Videos also make the customers understand the policy coverage quite clearly. Insurance agents can put up videos explaining the multiple products and the benefits offered each one.
2. Google Values Videos
Now you know that videos help build trust. Search engines are constantly looking for content that engages users. And nothing attracts a high number of page views quite like a video. Videos help in increasing the time spent on websites. As soon as you upload a video, the visibility and your chance to show up can increase.
When customers spend more time on the website, Google’s algorithm makes it about 53 times higher to show up on search due to a video embedded on the site.
The highly competitive nature of the insurance market makes it essential to have a video maker so that the company can be readily found.
3. Videos Increase The Email Click-Through Rate
Aren’t your emails flooded with messages? Getting someone to open the email is quite challenging. Watching a video is much easier than reading a lengthy—or even medium-length—piece of text. If your email subject line has ‘video’ in it, it has a high chance to increase the click-through rate to about 200-300%.
Video can increase the effectiveness of email campaigns. Data indicates that email marketing campaigns using video increase up to 96% in click-through rate.0
It is highly effective when the insurance company wants to share particular information that cannot receive the same impact through written words.
4. Videos Boost Conversion Rates
Think of video content as nothing but an investment because it can increase the conversion rates 80%. A compelling presenter in the video can influence and persuade the viewer and convert into a lead. The skill of conveying information through video is a strong tool. An insurance company can add in its testimonials, tutorials, policies, etc., in the video.
To measure ROI, you can follow the simple steps:
- Check the video’s view count.
- Look for video engagement to get an idea about how long the viewers are watching and when they might be clicking away.
- Check the overall conversion rate. You can understand that when users like your page or make a purchase.
- One of the important things is feedback. Reviews will give you an idea of how your video is working.
- Pay close attention to how much money you are making out of videos.
About 90% of the video marketers agree that video provides a positive ROI.
5. Videos Can Teach Customers
Customers are now watching more videos online than ever before. Insurance is one such subject upon which individuals seek more information.
Did you know that the Google search on ‘How to learn more about life insurance’ alone has more than 20 million video results?
Videos help the audience absorb information better. Watching videos reinforce what the audience has previously read. Research suggests that videos help in growing viewers’ understanding 74%. Compared to the traditional methods of communicating with the client, videos are much better because they can effectively reach more people.
With videos, complex policies can be simplified. It’s interesting to note that 98% of the users agreed that they watch a video to learn more about the product and service, and insurance consumers look for trusted and efficient advisors to help them with the specifics of insurance policies.
More On Video Marketing
More and more videos are being used on the internet. Instagram, Facebook have all moved over to videos, showing that approximately 80% of the online traffic is now videos.
One of the interesting statistics shows that over 500 million hours of videos are watched on YouTube daily. Google includes videos on its search results, which has changed from plain texts to richer content featuring snippets, images, maps, photos, and videos.
There are several effortless ways and easy-to-use video makers that do not require a lot of investment and time to produce a quality video.
Video making can save you ample time since you don’t need to write much. You can put a heading, add a snippet, and use a few texts on top of the video or image. You can compile this into a two or three-minute-long video.
In Conclusion
The advantages of video marketing for an insurance company cannot be overstated. A business can use this effective method to educate the consumers, increase brand awareness, capture leads, build trust, and increase your email click-through rate.
There’s no doubt how videos are popular amongst the masses, and incorporating these trends into the marketing strategy of an insurance company can help optimise the customer experience.
In this competitive landscape, it is crucial to stand out. Video is not just a method anymore, and everyone should try getting onboard!