Prospects who walk into a dealership and interact with various boats are more likely to convert to a sale. And the same holds true for prospects who interact with inventory online - they are more likely to convert to a lead.
Online video provides businesses with a way of interacting with consumers as they move through the buying process and results in higher conversion rates.
When BoatTrader.com launched its first dealer-generated video product, users spent an average 92 percent more time on the site interacting with dealers and their inventory. These users converted into leads for dealers 7.5 percent more often than users who did not watch dealers' online videos. Overall, adding video to listings on BoatTrader.com helped increase the average visitor session by 49 percent in 2009 from 2008.
This article originally appeared in the February 2010 issue.