Startup Growth Series

How to use explainer videos to grow your business

Credit: Olaitan Folaranmi

Olaitan Folaranmi is co-founder & CEO of ​ Inspire Studios; a team of creative professionals (Illustrators, Scriptwriters, Animators, Voiceover artists) that can help you create an explainer video that sells your product. Contact Olaitan via ​ email

Credit: Richmond Eke

Richmond co-founded RedTown Digital​ . Some of their past client works can be found ​ here

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Sad Truth:

Human beings have a very short attention span.

According to latest ​ marketing researches and trends, humans have an attention span shorter than that of a gold fish.

Yes, that’s right, goldfish.

Our attention span is estimated to be 8 seconds.

What that means is that you have only 8 seconds to get someone’s attention.

Or..

He’s gone.

With such a low attention span,  it means that you ​ will probably lose a new website visitor if:

● Your website is full of long text that is not captivating enough

● Your website takes too long to load.

● You use more than 3 steps to explain what your business is about.

The good news is that there is a good way to get their attention for longer.

That way is to create awesome explainer videos.

What Is An explainer video?

An explainer video is defined as a short (usually between 1-3 minutes) video that explains your product/service, idea or story in an engaging manner with beautiful visuals, compelling concepts, and (sometimes) a little bit of humour.

The explainer video gives the viewers all the information they need to decide whether to buy your product and how.

Statistics shows that the best way to give enough interesting information in the shortest possible time is videos.

According to Video Rascal​:

"85% of people are more likely to buy a product once they see an accompanying explainer video”.

There are several proofs that explainer video works.

Here are some of them:

Dropbox recently transformed their webpage, removed all unnecessary text and just inserted a video. This increased their conversion to 10 million more customers and 48 million dollars in revenue, WOW!

Work.com, a platform for social media management, took a not-so-drastic approach. They didn’t erase everything else from their homepage, but they did put in an explainer video and made it the focal point of the page. This resulted in over 20% increased conversions!

Amazon KDP, the international self-publishing platform of Amazon is practically offering you nothing but a video next to a sign up/sign in form on their landing page. And you know what? It works!

Should You Create An Explainer Video For Your Startup?

As a brand, your explainer video is ​ your elevator pitch.

It provides your target with the required information in the shortest time possible.

The emotional connection it creates with your brand shows how your product would make their lives easier and better.

Another reason explainer videos are so popular is the low cost and quick turnaround, compared to high budget "movies" with human character.

How To Create A Great Explainer Video For Your Startup (Within Reasonable Budget)

The best explainer video that sells your product is a story.

A good story has 5 components.

1. Introduce the problem.

To create stories that connect to the emotions of customers, make the main character encounter the same problem the customers have.

Your video characters should resemble who your ideal customers are.

2. Give a solution:

Once your customers have emotionally connected to the problem, you need to show them the solution (your product, service, idea of course!).

Your product or service should be seen as the ultimate solution for the problem presented.

3. Let people know who you are and what you do​ .

Explain your product or service and why you are better than the rest.

List how your product, service or idea will benefit the customer. Don’t show off your features; instead show the benefits of those features and how it will help the customer.

4. Building credibility.

There’s something about your company that will make people trust you – share that!

5. End with a strong, simple call to action.

Have a clear action you want people to take after watching the video. Something like clicking a
button or a link usually works like a charm.

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There are two types of explainer video you can invest into:

  • a whiteboard video
  • 2D explainer video.

You can do this yourself or better, let professionals handle this for you.

What Makes An Explainer Video Awesome?

Each component of the story in your explainer video is extremely important.

They connect like separate switches connected to a light bulb. If one is done poorly, the
intended message will not be passed.

That is why the foundation of a great video is the story script.

So let’s sum up:

You can increase your conversions, and in turn your sales and profit, by using an explainer video with the above guide.

In the next lesson....

In lesson 7, you will learn from Cynthia ( a startup lawyer), how to use legal means to protect your ideas. You will discover the 5 "weapons" you can use to protect your intellectual property.

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