Vacation Rental Managers Should Use Video

Video Transcription

Hi. I'm Tyler Hurst, the Vice-President of Sales and Marketing here at LiveRez.com and I want to welcome you to this week's edition of Whiteboard Wednesday. Now, this week I want to talk about something that is the most powerful medium of marketing that I can think of and that is video. And why you should be using it. So, today we're going to talk and spend a minute talking about conversions, we'll talk about some case studies, but before anything let's talk about how much we use video as a society.

So, some fun facts to look at. Number one, 48 hours, I want you to consider that, 48 hours. What that means is that we are uploading as a society, we are uploading 48 hours of video every one minute, every one minute. I think I read something today that we upload more YouTube in a month, or more video on YouTube in a month, than broadcast television created in 60 years. That's a lot of video. Another interesting fact, there's about 3 billion views on YouTube a day, 3 billion. And interestingly, why? Well we have to remember that YouTube is actually the number two search engine in the world. It's owned by Google which is the number one search engine in the world and ultimately YouTube is the number three visited site. Google, Facebook, and then YouTube. So having a presence on YouTube and putting your video out there can be incredibly helpful and a incredibly valuable marketing medium for your business.

So, before we get into maybe some of the whys, which we certainly need to do today, let's talk about just a couple of case studies. I've researched and found a couple of companies that had tremendous success using video and how they did it. So let's look at a case study. Number one, there was an online fashion store and what they found was they tested products and they put videos on some of those pages and videos on other products. And so what they did is they said, look, these pages have videos on them and these pages don't have videos on them, and let's see which ones convert better? What they found was not necessarily interesting, a little surprising how successful, but we knew it would help. But what they actually did find is that their conversion increase was 134% on products that actually had video. Well, that goes to show that people are actually really reacting in a positive way to video and there's a reason why and we'll talk about those in a moment.

Now another case study was very interesting also was that users that actually watch video on your website will usually stay on your website about two minutes longer, and ultimately have a 64% higher chance of actually converting or buying something on your website. And so using video, we have stats that really prove that video is valuable, but it really kind of tends to wonder why. Why does video work? Well, let's talk about it. Number one, trust. Video brings trust, it really brings you the idea of you get to look at what you're actually taking advantage of. If you're renting a home you get to see what the property is, see what the area's like, and most interesting, the one for me is I get to put yourself in the setting. I emotionally get attached, I could see myself, you know, sitting by that fireplace, I could see myself cooking dinner with my family here or having hot cocoa here. Sitting and looking at the beach and hearing the waves roaring in the morning that I wake up. Ultimately it builds trust, and it really builds that kind of emotional connection.

Two, what you see is what you get. I love that phrase because it really makes sense to me. A video really once again builds that trust by just showing you what you get in a home. And you get to see really every nook and cranny of the thing at home and say, "yep, I can do this." Now, then again, video is incredibly valuable because it's social. How many people have ever watched a video on a social media channel? Well wouldn't you want your video to possibly be one of those? Maybe even one that goes viral and gets 20 million views if it's funny enough? Think about the ALS challenge and how that was all done through video, what a wonderful cause that was, but look at how successful it was. It was a video that went viral and people continued to use that. And so that's a great example of how video really can be there to help your homes and properties get credibility.

Also, video really helps build affinity. It's a very, very valuable tool. Where people start connecting as people, they hear voices, they see faces, they read body language and emotion and that really helps them to be tied in to make emotional connections with what you're selling, which once again are your wonderful properties. And then very lastly, we think about all these psychological reasons but really SEO is a very valuable tool that you get by video. Ultimately, when someone comes to your website and you have video, number one, their bounce rates are certainly going to go down, you're going to have more time on site and then once again, you're being found in YouTube and Google and all these other places that will index video also.

So, take the time to consider how much video can help you and it'd be interesting to see how much you're conversion will actually go up because you've loaded videos on your website. That's this week's edition of Whiteboard Wednesday, and we'll see you next week. Thanks.