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8 ways online video can improve your business

Jennifer Lonoff Schiff | July 10, 2013
From attracting new customers with online marketing to recruiting employees, business owners, managers and video experts discuss how video can benefit your organisations.

Video isn't just about cats and dogs anymore. More organizations today are turning to video to tell their story, get the word out about a new product or service and even recruit employees.

How can your business benefit from video? asked dozens of business managers, owners and video experts to find out. Here are their top eight tips for where and how to use video for business.

1. Attract New Customers
"It's key to have an explanatory video on your homepage if your service or product is particularly innovative or simply requires an explanation for a new customer to understand it," says Lauren Grad, marketing manager at 99designs, a graphic design marketplace that connects customers to graphic designers.

To highlight its business's contest model in which multiple designers compete to win a client, 99designs created a video entitled "How it works in 60 seconds," and posted it to their home page.

Video can also set you apart from the competition, Grad says, by explaining to prospective customers the benefits of using your products or services instead of those from the competition. Home loan company Guaranteed Rate, for example, posted this video explaining its business to its customers.

2. Announce a New Product or Service
Video is a great way to get the word out and generate buzz for a new product or service, says Claudine Bianchi, chief marketing officer at Axceler, a provider of enterprise collaboration governance, administration and migration solutions.

"The fun and cheeky tone in our videos to launch our newest product, ViewPoint Enterprise, cut through the noise of other dry product announcements and encouraged viewers to visit the product's homepage to learn more," she says. "Since it launched, we've received [positive] feedback from prospects and analysts, and the videos have received [many] views on YouTube."

3. Recruit New Employees
"Finding the best employees is the single-most important function of any company," says Melissa Thermidor, marketing manager at LatentView Analytics. "Recruitment videos that feature company employees and promote the culture of the company can be very influential."

To help boost its recruitment efforts, LatentView created this engaging video, which helped increase its applicant pool tenfold.

4. Educate Customers
Video is a great tool for demonstrating how to use your product or service-and can often convey more information quicker than a photo or a written description, says Alex Glassey, CEO of StratPad, a strategic business planning app for entrepreneurs.

"In a recent survey, our customers said they needed help understanding financial statements," Glassey says. The company then created a series of short videos entitled "Financial Statements Made Easy," which explain income statements, balance sheets and statements of cash flow, which are featured on StratPad's website as well as on YouTube and Udemy.


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