Did you know that nine out of ten customers find video helpful when making shopping or buying decisions? It isn’t this simple, however, as you have to make sure you pick the right video for each stage of the sales and marketing funnel.

 

What is the Marketing Funnel?

A marketing funnel is a graphical representation of the different steps a website visitor needs to take before they make a conversion. A conversion takes place when a website user completes a desired goal, for example making a purchase or filling out a form. This diagram is funnel-shaped because a portion of visitors “drop out” at each stage of the funnel.

What are the Stages of the Marketing Funnel?

Top of Funnel: The Awareness Stage

The first stage of the funnel is awareness. At this stage, your potential customer becomes aware of a problem. As a marketer, your job is to make it easy for leads to come across your content (be it through social media, on a search engine or through advertising) so that they know you exist.

Middle of Funnel: The Consideration Stage

In this stage, leads become prospective customers. At this point, your prospects have done the research so they are aware of the problem and they know your organisation can provide the solution. The marketer’s responsibility at this point is to convince them that you are the right fit for the job over others.

Bottom of Funnel: The Decision Stage

This is the time to keep focused. At this stage, your potential customer is on the verge of making a purchase and they are trying to make a decision between all the options. All you as marketer need to do have to do is to give them the final ‘nudge’ they need to convert.

6 Stats about the Role of Video in the Marketing Funnel

  1. 90% of customers find video help helpful when making shopping and buying decisions.
  2. 64% of customers are more likely to buy your product after watching a video about it online.
  3. It is estimated that just one minute of video is equal to 1.8 million words.
  4. Videos can increase purchase intent by 97%.
  5. 87% of online marketers already use video as part of their digital marketing strategies.
  6. Brands that use video marketing grow their revenue 49% faster than brands that don’t.

Video Content & the Marketing Funnel

Many organisations are aware that a strong video marketing strategy can help push potential customers through the marketing funnel until they convert. However, a one size-fits-all approach won’t work and it’s vital to choose different videos for each stage of the buyer’s journey. Choosing the right video can be a little trickier than you might think, and you will need to do some research to figure out what videos will work for your business.

Find out more about the role of video in the sales and marketing funnel in the infographic guide below.

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