An explainer video is usually a 1-2 minute video used to explain what your company actually does or some aspect of your company that you are continually having to explain over the phone.
It should answer a few fundamental questions. It explains what problem the product is trying to solve, and why the viewer should want to use or buy this. It is similar to a 30 second elevator pitch, but with visuals, and a more casual, fun vibe. It can also be used to introduce a new product or company.
Bank of Internet needed a quick way to explain their new mobile deposit feature, a simplified how-to explainer video was created and then re-branded over and over as participant banks came onboard.
Another important reason for using a video is that a well-made explainer video can increase your conversion rates by around 15 to 50% . For example, Work.com, a work performance management company has increased conversion rates by 20% with the introduction of their explainer video . Shoeline.com saw a conversion rate increase of over 40% when they started showcasing their products using videos instead of just pictures .
It’s also important to note that explainer videos can have effects on in-store sales as well. According to Google, 79% of smartphone owners do research on their phones before making a purchase . Best Buy is taking advantage of this trend by putting instructional explainer videos on their website to educate the shopper on various technological goods.