Interactive inventory videos offer three advantages.
Carvana and Vroom, two online disruptors, have invested millions of dollars in interactive video technology for one specific reason: interactive video enables them to merchandise their vehicles in a way that engages consumers and forges an emotional connection, demonstrating that consumers will buy sight-unseen if provided with sufficient visual information.
It’s crucial for the automobile business to establish this emotional connection with a car. Car buyers often don’t pick up the phone or send an online lead until they have developed an emotional bond with a certain vehicle. Therefore, you will produce more leads overall with the more engaging tools and options you offer to encourage automobile shoppers to connect with (and fall in love with) your inventory.
Let’s go over the factors that make interactive videos such a potent marketing tool for car dealers.
puts the consumer in charge
The ultimate purpose of inventory films and interactive 360-degree spins is to digitally reproduce the emotional connection of a typical vehicle test drive.
Inventory films are expertly crafted with music, voiceovers, and overlays to pique viewers’ interest in a specific car.
However, interactive 360-degree rotations provide customers with control over their sight of a vehicle and are the most accurate representation of being on your lot. A customer can independently see an automobile from any angle, zoom in or out, investigate specific features, and take a panoramic picture of the interior.
Although each of these presentations has an impact on its own, when used together, they are most effective at creating an emotional bond. They have the power to transform someone’s interest from “That looks interesting” to “I want this vehicle—not the one down the street, but this one.” There, you succeed.
While images alone are less effective at attracting automobile buyers’ attention than linear videos, interactive videos significantly increase that attention.
The average engagement rate for linear films is 26%, whereas the average engagement rate for interactive videos is 48%—an increase of 85% in engagement!
Why is participation so crucial? Consider all the money you invest in promoting your website to attract visitors. Dealers invest tens of thousands of dollars in radio, TV, email, Google, and Facebook advertising. Despite the fact that many advertising campaigns use the dealership’s phone number as a call to action, 90% of consumers actually browse the website before calling.
Many of those marketing dollars are squandered if your website lacks the capabilities to keep these website visitors interested. In my analogy, it would be like spending a lot of money on Curt Schilling as your pitcher (your marketing) but using a rookie catcher with a bad eye and one arm (your website). Make sense? You will never receive value for the millions you are paying Curt. The majority of merchandising funds should be spent on your website since the majority of prospects visit it before visiting your dealership.
higher rates of conversion
According to data from FlickFusion, conversion rates for VDPs with interactive videos and regular inventory videos are 35 to 45 percent higher than those for VDPs with only one or no video alternatives.
So, if you’re asking whether interactive films should take the place of standard inventory videos, the answer is no. Both kinds of videos should be included on your VDPs.
Some consumers prefer a sales presentation when given the choice between linear and interactive movies on a VDP, while others will choose the interactive experience right away. Additionally, some customers may desire to do both.
It’s no coincidence that many retail firms are pouring millions of dollars into interactive video marketing. The more options you offer, the more likely it is that at least one of those options will be used by prospective car buyers to interact with your inventory. In the end, greater engagement results in greater conversions and sales.
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