Since then, he’s only echoed his intentions with Facebook’s platform moving forward:
“I see video as a megatrend, and that’s why I’m going to keep putting video first across all our platforms.” - Mark Zuckerberg, CEO Facebook
As online giants like Facebook, YouTube, and Twitter develop video-first experiences on their platforms, marketers need to be paying attention to the “big fish” and find a way to jump along for the ride.
And I’m not just talking about marketers exclusively working for the big brand name jewelers. Any business owner who is trying to get customers through the door needs to be paying attention, and asking themselves one big question:
What does The Big Zuck know about his 1.8 billion users (which is also your customer base) that motivated him to move in this direction? And what can jewelers learn from these giants of the digital industry as they push all of their chips in on video?
Yes, we all know that video is the the king of content, and everyone loves watching it — but there’s much more to it than that.
The Benefits of Video
Video isn’t just the latest and greatest trend in content marketing.
It’s how people (i.e. your customers) prefer to learn and share information.
- Consumers are 4x more likely to consume video than text
- Website visitors spend twice as much time on page when it includes a video
- Our brains process information 60,000x faster
- Consumers are 3x more likely to share a video than text
- Customers are 144% more likely to buy after watching a product or service video
And when you provide customers with information that they actually want to engage with, then you’ll have more influence on their decisions.
Now do you understand why Facebook has gone “video-first”?
Your customers — no matter the industry — are more likely to learn, buy, and share when video is a part of their experience.
Video isn’t a just a content format that works for the biggest fish in the jewelry industry. It’s a tool that has the power to convince and convert at faster rates, regardless of the size of your business.
How The “Big Fish” of the Jewelry Industry are Using Video
Traditionally, the jewelry industry has relied on TV and magazines for their advertising. But some of the bigger names in the jewelry industry are incorporating more online video into their marketing mix, and seeing impressive results.
Charisse Ford, Chief Marketing Officer for Pandora, claims that they’ve seen a significant shift in how consumers prefer to engage with their brand online compared to traditional TV advertising.
“A key aspect to our strategy has been both short-form and long-form videos shared across social media and our other digital channels. We’ve seen audiences consume more videos versus television and video has usurped spending.” - Charisse Ford, CMO Pandora
“A key aspect to our strategy has been both short-form and long-form videos shared across social media and our other digital channels. “ - Charisse Ford, CMO, Pandora
And the behavioral trend that Pandora is witnessing isn’t anything unusual.
As consumers spend more time browsing and buying on their phones and computers, marketers are pushing their messages into the areas where people are spending their time. In fact, digital ad spend passed TV ad spend for the first time in 2016.
What About the “Smaller Fish?”
“But, Todd… We’re not Pandora! I run a smaller boutique jewelry store.”
I know, but you don’t have to be an industry leader to get results with video.
Take Mother Family Rings, for example:
Jeff Moriarty told me that they’ve seen a 25% higher conversion rate on product pages that include a video over ones that don’t. By simply embedding a video about the product on the page is enough to convince 25% more visitors to click “Buy Now.”
No Jedi mind tricks or crazy marketing hacks — just a smart, easy way to engage their customers.
“We also use videos to teach. We have hundreds of videos on YouTube where we teach about gemstones and the industry in general. This makes us a much more trustful source.” - Jeff Moriarty, Mother Family Rings
There are lots of ways to use video — product videos, testimonials, even personalized videos from your phone. But if you want to educate your customers and establish your business as a reliable, trusted source of information, video is the quickest ways to do that — even for smaller businesses.
Video and Jewelry: A Match Made in Heaven
Every jeweler knows that people buy from those they know, like, and trust.
But what most jewelers fail to see is that the process of building that relationship before their customers arrive in the store.
Your customers are starting their buying process through online research, reviews, and Google searches. They’re not walking into jewelry stores unprepared anymore.
So if they’re already consuming information beforehand, and we know that they are 4x more likely to watch a video than read text, then creating videos is a no-brainer, right?
In addition to better educating your prospects, here are three more important ways video serves as the perfect marketing tool for the jewelry industry:
- Videos show and tell — Today, so much of what we consumed in two dimensions, and many of our purchase decisions are just a click away. But jewelry is meant to be held, touched, worn, and looked at up-close. Showing the beauty and dimensionality of a piece can’t be done in text or through photos. The multisensory experience of video does a much better job.
- Video builds relationships — If you’re a jeweler, you know the power of relationships. People do business with those they know and care about, but it’s hard to establish a connection over email or phone. When you can see the other person and experience their personality, there’s a deeper emotional connection that’s made. Video helps you become that honest, trusted friend before customers even step foot in your store.
- Video Elicits Emotion — The jewelry industry thrives off of emotion, right? Your customers are usually coming into your store buy a gift for a loved one. Even when it’s for themselves, they make a buying decision because they fell in love with a piece of jewelry. Well, there’s no better way to convey and incite emotion than video. An effective video combines visuals, music, and a great storyline to pull at people's heartstrings!
The bottom line: You can try to create trust, build relationships, or speak to someone’s emotions through photos, blog posts, even smart ad campaigns. But none of those other options come close to the superpowers that video has.
Getting Started with Video
The biggest question I get — and the place where most people get hung up — is knowing what your videos should be about.
This part is very important. No matter how stunning your video is, the wrong topic will ruin your results.
Why? Because it won’t align with what your audience needs to know.
You need to understand your market’s knowledge gap; differentiate the information that separates an un-savvy shopper and savvy customer.
The knowledge gap could be filled with a variety of things:
- Frequently asked questions
- Concerns or objections
- The unique value each of your products bring
- What differentiates you from your competitors
Your videos should guide your customer on a journey towards becoming savvy; you should be answering their biggest questions, overcoming their concerns, and helping them gain confidence in their decision to buy from you.
Like putting dish soap on a slip n’ slide, you’re helping your customer move through the buyer’s journey faster without any sudden stops or friction.
Still feeling uninspired?
Here are a few topic ideas to get you started:
- Understanding the 4 C’s
- How to Care for Your New Diamond Ring
- Types of Diamonds You Should Know
- Popular Trends in Jewelry Design
- Pros and Cons of Custom Designed Jewelry
- The Biggest Mistakes People Make When Buying an Engagement Ring
What to Invest vs. When to DIY
“Todd, when is it ok to DIY, and when should we invest more into our videos?”
In other words, “when should we use our phones, and when should we hire you?”
Not every video needs to be a big production. There are times where it’s perfectly fine to shoot a quick video on your phone, then upload to Facebook or YouTube.
But some of your videos will require more of an investment — videos that get more exposure and have a bigger impact on your business. Those are videos that you can’t afford to cut any corners on.
Let’s talk about the difference between the two:
Perishable videos are videos that have a shorter lifespan. These could be a quick Facebook Live session, or even a handheld video to personally send to one of your customers.
- Quick, off-the-cuff interviews
- One-time use social videos
- Promoting upcoming events
- One-on-one engagement
- Industry-related news updates
Non-perishable videos have a much longer lifespan. But these videos also carry a much bigger load in your business — like explaining the value of your services, promoting your brand, or getting your business in front of a larger audience.
These are the videos you want to dedicate a portion of your budget to. Yes, they cost more, but they also get much higher ROI.
Some examples of non-perishable videos are:
- Explainer / Overview Videos
- FAQ Videos
- Highest trafficked product pages
- Product feature/description videos
- Your maintenance promise
There’s a lot your business can learn about video by sitting back and observing the captains of industry. Their moves are carefully calculated and based on the behaviors and trends of a massive audience.
But if there’s one big lesson to take away, it’s this:
Video isn’t just a sexy trend — it’s how consumers prefer to buy, learn and share today.
Businesses of all sizes — like Pandora or Mother Family Rings — are using video to connect, convince and convert at incredibly high rates. It’s not just the “big fish” that can see results. Even jewelers should take note of the video-first approach that Facebook is taking, then apply the lessons they learn to stay ahead of the competition.
To learn more about Todd, or to discover how video marketing can help grow your business, visit www.wirebuzz.com.