Converting More Customers and Decreasing Sales Cycle Length By 44%
People generally want to know what is the ROI of using video for their business. Here is another way of looking at the advantage of using video.
Brightcove has written an article describing how video has shortened one company’s sales cycle by 44% They utilized 300 of the most frequently-asked questions and created short how-to videos for each query, focusing on product demonstrations, troubleshooting, and technical features. Then they built a website for “The Learning Center,” where all the video content was housed. Prospects could access the site themselves or receive a video directly from a sales rep.
The business said “A lot of the time, our sales team spends about 45 minutes to an hour doing demos for a customer”. “Now, a salesperson can say, ‘Let’s talk on the phone, but in the meantime, watch a demo about the software.’ And then I know if the customer watches most of the demo, they’ll end up talking with a salesperson or engaging in a live chat. It frees up time and saves us money. For each hour-long demo, it’s worth about $2,000 of our time.”
“The Learning Center” has also helped improve company-customer relations.
Before, it took the company just about 160 days to finalize a sale. Now, with the implementation of “The Learning Center,” it takes them just under 90, marking a 44% decrease in average closing time.
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