We don’t want you to read this week’s Thought for the Weekend, we want you to watch it. Matchmaker Logistics is proud to present our first web video. Click on the image left to see what we have to say….
Why have we added video to our website?
In 1906 the Italian economist Vilfredo Pareto (1848-1923) determined that about 80% of Italy’s wealth was controlled by about 20% of the people. This evolved into the 80/20 Rule (also know as The Pareto Principle). Explained as “the law of the vital few”, it is frequently applied to business or quality control problems. For example:
- 20% of the employees do 80% of the work
- 20% of the tasks we do account for 80% of the results we get
- 20% of the customers request 80% of the refunds.
- 20% of the time, a salesperson should talk; 80% of the time, he should listen
In the spirit of the 80/20 rule, I recently learned that 20% of visitors will read the majority of text on a website, while 80% will watch the same information when presented in video. As if that evidence wasn’t compelling enough to convince me of the power of video messages, there was more:
~According to a study by the (University of Pennsylvania) Wharton School of Business, prospects are 72% more likely to purchase a product or service when video is used and they make their buying decisions faster.
~Forbes Insight reported that 59% of senior executives polled would rather watch a video than read text. About 65% of those who view a video click through to visit the vendor website; 50% look for more information; and 45% report that they contacted a vendor after seeing an online video.
Those are some pretty encouraging statistics. Heck, if, as Pareto would predict, just 20% of the decision makers we know reach out to us after watching our online video, I’ll be thrilled! Please share our video with others and share your feedback with us.
Meanwhile, this weekend, spend at least 80% of your time relaxing,
~Bob
