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Whether it's customers coming in to haggle over the price or corporate checking in to see how your team compares, in our industry it's all about the numbers. Volume, margin, financing, and more: you have to track all the stats in order to keep your dealership on track.
Yet even with this number-centric mindset, many car dealerships have resisted diving into video marketing despite the numbers showing video to be a clear winner over other marketing types. We're here with three stats to show you just why this resistance to video is wrong, and what you can expect when it comes to attracting and converting customers with the right video marketing for your new and used cars.
StacksAndStacks.com, an online retailer for home goods, recently implemented site-wide video marketing across their product lines, and compared their sales rates among viewers who saw a video to those who didn't. What they found was that customers were 144% more likely to purchase after seeing a product demo video than when they simply saw the item's image and text description.
This simple housewares retailer more than doubled their sales conversions simply by adding videos that gave their customers the information they wanted in an easy-to-view format. Imagine what a sales bump of just 100% or even 50% would do for your dealership—and all you have to do is display a video test drive of every model in your inventory.
Get people more primed to buy, and you'll save time while boosting sales.
A wide ranging study involving hundreds of companies found that 71% of marketer saw higher conversions from video than any other marketing content, and 82% saw enough success with video marketing to warrant the money spent on creating and hosting the video messages. Another study found that nearly half of marketers agree that video marketing ROI is still improving as well.
Even self-produced marketing videos pay for themselves, and with a service that provides videos for your dealership you'll see an even bigger ROI. Getting three marketers—let alone hundreds—to agree on anything is tough, so when 4 out of 5 say video marketing is the way to go, it's time to sit up and listen.
A Tweet with a video URL receives 28% more retweets than similar tweets linking to articles and static pages, according to one recent study, and other social media platforms show similar trends. Having a video for people to share means they can crowdsource opinions and make recommendations for their auto-interested friends with ease, and with videos embedded on your site it will be your URL getting passed around.