Converting existing prospects into new customers is critical for the success of any business, but in recent years it has become increasingly more difficult and costly. Studies show customer acquisition costs (CAC) increasing — climbing by roughly 10% or more a year.
It’s no surprise that customer experience is key to gaining new customers, but in today’s marketing-cluttered landscape it must be seamless and personalized. Personalization is no longer simply a nice-to-have; in fact, 72% of consumers today say they only engage with personalized messages.
More personal than you think
Personalization isn’t just a tailored greeting or product recommendation based on wish lists and checkout carts. True personalization uses information gleaned throughout the customer journey to know customers as individuals and tailor communications to them.
The brass ring of personalized content to better engage new and existing customers? Video, of course. It grabs attention, consistently outperforming mere text and images. In fact, landing page videos increase conversion rates by 80%, with up to 90% of customers saying videos influence their purchasing decisions.
Personalized Video levels up your customer acquisition by letting prospects be the heroes of their own personal story with your brand. Let’s look at a few ways it can transform customer experience and convert casual buyers into brand ambassadors.
Short, sweet and simple
Video has the power of demystifying the complex. Consider financial services, where a short 60-second video can better explain the highlights of a 10-page statement in the time that keeps the customer engaged. Whether B2B or B2C, information is shared faster, easier and more engagingly with video.
Tire kicking to conversions
For new and returning customers alike video is a great education tool. Because of its ability to effectively convey information, it outperforms other marketing assets and drives consumers to action. It’s also quickly become the expectation.
94% of people have watched an explainer video to learn more about a product or service.
Once more with emotion
Emotion plays an incredible role in our buying decisions and, obviously, in creating customer loyalty. Video is the best channel to convey emotion and make a personal connection, both keys to customer acquisition. It hits the right emotional cues, but also in the way people are used to consuming content.
78% of people watch online videos every week, and 55% view online videos every day.
Truly personal and multichannel
Perhaps one of the most formidable uses of personalized video is its ability to create a smooth and consistent experience no matter where customers engage with the brand. Personalized videos use your 1st party customer data — from analytics accounts, CRM accounts, CSAT surveys, etc. — to provide just the right level of personalization to connect deeply with the customer or group of customers.
All this amounts to developing and growing the customer relationship. Video is not just a robust tool that eases and improves customer acquisition but makes growing customer loyalty needed beyond purchase easier too.
With video you can inform, entertain and engage, a trifecta for marketing and customer acquisition.
It’s easy to see the effect a strong video marketing strategy has on customer acquisition — breaking through the chatter, and rising above a sea of eBooks, emails and emotionless texts to increase engagement and keep customers coming back again and again.
But don’t take our word for it. See for yourself. Find out how BlueRush’s easy-to-use IndiVideo can help you improve customer acquisition and drive action.