Imagine you’ve spent months pouring all your energy into the launch of a new product. The big day arrives, you launch and…
…your product flops.
All the effort and expenses — about as effective as brushing your teeth with chocolate spread.
There are many reasons a product launch can fail:
Is your target audience clear? Does the pricing strategy fit? Have you analyzed the market and your competition? What about your marketing strategy? Does it include videos? Because videos can give your launch the boost it needs and lead to that “ka-ching” moment.
Why an explainer video can supercharge your product launch and what key points to consider — we reveal all in the following article.
Why an Explainer Video is Worth It
Don’t leave your success to chance — rely on a clear launch strategy. In 2023, more than ever, that means embracing video marketing.
Dropbox founder Drew Houston tried several strategies to launch his product. It wasn’t until a simple explainer video that things took off. Today, the company is worth billions of dollars.
Drew Houston himself said about the explainer video: “It drove hundreds of thousands of people to the website. Our beta waiting list went from 5,000 people to 75,000 people literally overnight. It totally blew us away.”
So, what makes explainer videos so effective?
For Dropbox, potential customers didn’t fully understand how the new product worked. In the video, Houston walked them through the functionality step by step.
Reason number one for explainer videos: they explain.
Explainer videos simplify complex content or products that require explanation, presenting them to potential customers in a clear and engaging way.
Videos create an emotional connection between the product and the viewer. Additionally, they convey a large amount of information in a short time, which is crucial since our attention span is now just 8 seconds — shorter than that of a goldfish.
Explainer videos maintain attention through visual storytelling. Their multisensory approach, using moving images, colors, and sound, is processed more easily by our brains, making it easier to store information in long-term memory. Learning platforms like Sofatutor.com have been leveraging this for years.
It’s not just Dropbox or learning platforms that benefit from the advantages of explainer videos. 96% of B2B companies already use them in their marketing campaigns, and 73% see explainer videos as having a positive impact on their ROI.
The 2022 Video Trends Report shows that videos drive consumption. 86% of video marketers report that videos have led to increased website traffic, and 78% see a direct link between videos and revenue growth.
Of course, an explainer video comes with a cost. But is it worth it? Yes, because it’s a one-time investment that generates revenue for years.
In short: Explainer videos educate and sell. They’re worth it because they edutain your target audience, capture the attention of potential customers, and create an emotional connection. Additionally, they motivate action, such as clicking the link to the product page. How exactly do they achieve this? We’ll explain that now.
Psychology and Elements of a Good Explainer Video
Video is the most commonly used format in content marketing, and a good explainer video converts viewers into customers. The better you understand your target audience and their buying motives, the more effectively you can use the following elements:
It’s Easier to Sell with Humor
Make viewers laugh, and they’re more likely to buy. The use of humor has a simple psychological basis. When people are happy, in a good mood, and laughing, they release the happiness hormone dopamine, which makes them more likely to make a purchase decision.
Laughter also makes a video more memorable. Create an unusual character, like a clumsy unicorn, which piques curiosity and keeps viewers coming back for more.
So, ensure your video puts viewers in a good mood.
Convince Skeptics with Facts
Some people are more skeptical and harder to win over. The reason lies in the hormone cortisol. Our cortisol levels rise and fall throughout the day, typically peaking around 10 a.m., which makes us more cautious and critical. This is why salespeople are advised not to conduct sales pitches before 10 a.m.
Critical and cautious prospects need numbers — just enough to turn skepticism into belief.
Include a brief segment in your video to present the hard facts.
Trigger the “Must-Have” Feeling Through Identification
American psychologist Robert Cialdini discovered that people are more likely to buy something when they believe it will make them part of a certain group. Tap into this principle of belonging by making sure your viewers identify with the content of your video and want to be part of it.
For example, your main character can be someone your target audience relates to. Have the character experience a typical problem your audience faces, which is then solved by your new product.
Stimulate the hormone oxytocin in your viewers, making them feel good. Pay attention to a warm presentation, choosing colors, fonts, and language that resonate with your target audience.
Call-to-Action – Make It Easy to Click
A key component of an explainer video is the call-to-action (CTA) at the end. Avoid being too salesy. A CTA could be as simple as providing a link to the product page.
Develop a Video Marketing Strategy for a Successful Product Launch
There are several types of videos you can integrate into your marketing campaign. Here are the four most effective ones:
The Explainer Video
The explainer video is the classic type of video, usually no longer than 2 minutes. As seen with Dropbox’s success story, this type of video is perfect for launching a product that needs explaining. It focuses on the new product and answers initial questions.
In these videos, the (added) value of the new product plays a central role. Using examples makes it easier to communicate and visually demonstrate this value to your target audience. This type of video creates an “Aha!” moment for viewers, giving them the feeling that they’ve finally found the solution to their problem.
Explainer videos spark curiosity and encourage viewers to visit the product page.
The Presentation Video
Presentation videos, also known as demo videos, complement explainer videos. They are slightly longer, around 4-5 minutes, and go into more detail, explaining the functionality and specifics of the product. Here, you can dive deeper and convince any skeptical customers with numbers, data, facts, and more. Present the new product from every angle.
The Testimonial Video
We tend to base our purchasing decisions on the opinions of others. When we see that others are convinced by something, we perceive it as “social proof” — a validation of the product. We assume that we will share the same opinion as the individuals in the testimonial videos. Testimonial videos leverage this principle of credibility: other people demonstrate to potential buyers that the product delivers on its promises. These types of videos work best when they resemble amateur-style videos. If they appear more like homemade recordings, it creates what is known as “raw authenticity.”
The Whiteboard Video
In a whiteboard video, a product manager or developer explains the features of the product, offering several benefits.
First, it shows the people behind the product. This “human touch” makes the product more relatable and authentic. When someone puts their face to a product, it shows they genuinely believe in it.
At the same time, you’re leveraging the principle of authority. We tend to perceive experts in lab coats, suits, or with specific job titles as authoritative figures. We attribute more knowledge and expertise to them, and we’re less likely to question their statements.
When crafting your video marketing strategy, you need to consider which type of video works best for your target audience and where to focus your efforts. Aside from the video types mentioned, there are others, like sales or promotional videos. However, these are used significantly less compared to explainer videos. Current marketing statistics reveal that explainer
videos are the most frequently created, with 72% of marketers using them. They are followed by demo or presentation videos (49%) and testimonial videos (48%).
Possible Applications for an Explainer Video
For nearly all formats in your video marketing strategy, it’s important to integrate them in multiple places — anywhere with high traffic.
By embedding an explainer video on your website, viewers tend to stay on average two minutes longer, which positively impacts your Google ranking.
We also recommend using YouTube, social media, email marketing, blogs, and ads for your product launch. YouTube is the most widely used platform, with 87% of video marketers reporting success with it. In March 2021, toy manufacturer LEGO reached 10.04 billion views, making it the most popular brand channel on YouTube.
On social media, videos are the second most frequently used content type. Marketers use them to boost audience engagement, as videos generate 1,200% more shares than text and audio combined.
Make sure to leverage your video for your email marketing campaign. Studies show that videos significantly increase email click-through rates.
Conclusion: An Explainer Video is Essential for the Success of Your Product Launch
Explainer videos and similar content capture and hold your target audience’s attention much more effectively than any other medium. They clearly and engagingly show your audience how your product solves their problem, while also appealing to their emotions, which increases their willingness to purchase. Leverage sales psychology and develop a video marketing strategy, and nothing will stand in the way of your product launch’s success.
Do you have a launch coming up? Feel free to contact us for a free consultation. Our ExplainPitch experts are here to support you during this exciting phase.
