Introduction – beating higher price with greater trust
Many businesses face three big problems to successfully winning new leads and closing deals.
Problem one is price. The customer can find a cheaper competitor.
Problem 2 is also price, for the same reason – cheaper competitors can be found. And guess what, problem 3 is also – price.
There’s always someone cheaper. With a fairly easy web search, savvy customers know where to find them, at home or abroad.
Companies everywhere face this challenge of overcoming higher price, whether it’s for a small monthly software subscription, a one off deal, or a multi-million dollar undersea oil contract.
So how’s it done? How do you beat this problem when everything becomes so price-centric?
You beat the problem with trust.
Trust is the glue that binds customers & suppliers the world over. With trust, even tiny companies can successfully do business with global giants, often for many years.
Yet without trust everything quickly falls apart. Or perhaps more to the point, it never even gets started.
Trust is typically the reason why a customer will pay more to a higher-priced supplier, even when there’s a raft of cheap supplier reps banging at their door.
The trust problem starts when a customer is researching new suppliers.
For example, when they’re trying to decide from a bunch of competing websites for similar looking services & products, their minds are busy thinking:
“Who do I really trust to deliver for us?
What are they really like beyond the initial website gloss?
Will they really look after us in the ways I want?
Will they keep upgrading and grow as we grow?”
Will I get the tweaks I need to fit in with our operation?
Are they telling the whole truth when it comes to quality?
What are they hiding?
These customer concerns were important enough for deep-pocketed financial giant, Mitsubishi Bank, to invest in producing a special video just to establish deeper levels of trust between themselves and potential new customers for their technology platform.
Maybe not everyone needs to go as far as this.
But injecting trust through video is now firmly on the agenda, as it can make the difference between winning and not even getting started.
You might say: Winning trust with video to overcome price is marketing at its finest.
What can greater trust deliver
Trust is often hard to define, as at its heart, it’s based on a feeling.
This feeling promotes a belief that your company is better and worth the extra spend.
Customers are prepared to pay more if the trust is there.
Extra spend is the big trust deliverable.
The challenge is to quantify this feeling of trust
– and then relate it to video in a practical way.
Here are 3 video methods to quantifying, and thus winning, increased trust
1: Approaching it at script level. This is literally the words you say.
2: Determining a look & feel for your video that automatically promotes increased trust.
3: Choosing the best type of video to make, like an explainer video production, or a case study, for example.
Lets now examine how to actually do this.
Trust and your video script
Any or all of the following key points will increase the trust levels in your explainer video script. They can easily be adapted as part of your feature-benefit explanation.
– name drops (who else trusts you)
– length of experience
– track record highlights
– how much money you’ve made
– how much money you’ve made for others
– success stories
– your word is your bond – personal commitment
– many more, eg, Google reviews, TrustPilot rating, etc
Also, use a voiceover who sounds trustworthy. This is a voice that’s not too slick or fast, with maybe occasional gravitas at key points.
Focusing on these script elements will get you more trusted than otherwise. As mentioned, you may well think of more.
Trust and your video visuals
Visually winning trust is the next challenge. Some videos automatically look trustworthy, while others might sound okay, but something doesn’t feel right in the way the video looks.
Here are 2 approaches to start with.
– and non-literal.
Let me explain.
This means keeping your visuals clean & simple, uncomplicated, with lots of space, making things very easy to follow.
You’re taking a storyline approach here, a non-literal approach. You let the eye follow simple but sophisticated animation, making the key points as you go along, through the medium of a storyline.
This clean & simple artwork approach wins trust.
We go in the opposite direction here.
Show filmed footage of people who look trustworthy, and also look like your clients.
This probably means using stock footage that can be bought off-shelf.
It gives a more literal approach, and still wins trust by showing real people in instantly recognizable situations.
Both of the above approaches will give a great look to your trust-based video pitch.
Maybe you think a happy medium, somewhere in-between, is right for you. That’s okay too.
The key point is that you’ve closely considered what sort of visuals will make you look the most trustworthy, and not simply ignored it, or the first thing you saw on youtube that you kind of liked.
You need to remember that many people make up their minds in seconds if they’re going to trust somebody – just from “the look”. Your customers are no different.
Get the right look for your video, and increased trust will automatically come your way.
Trust and your video type
Potentially any video can be harnessed to increase trust.
But commonly there are five types:
1: Feature benefit explainer video, such as we see every day on every website.
2: An educational video, sometimes called an Awareness video as it’s not immediately sales related. Very useful if you’ve got a technology gap to bridge.
3: Testimonial video, where customers speak of their experiences.
4: Case study video, highlighting a significant project, or range of projects.
5: A dedicated trust video, often used in the final presentation of a big deal.
Depending on your needs, and the videos you’ve made previously, pick the Video Type that you think suits your company’s needs best at this point in time.
You may be desperate for video testimonials, or case studies for a lucrative vertical market, or you may simply need to enhance the trust elements in your explainer video.
Finishing it off
All of the above approaches must point towards a meaningful, goal-orientated ending:
1: Tell your unbeatable proposition – a single one-liner that says why they should pick you. Don’t be shy. Telling your audience your unbeatable proposition means they can remember and repeat it to their colleagues.
For example, Studio Rossiter’s unbeatable proposition to software developers is WE WIN YOU MORE ENQUIRIES BY DIFFERENTIATING YOU THROUGH CREATIVITY & MESSAGE.
2: Highlight your Call-to-Action, ie, the next steps they should take after watching the video.
These next steps should be measurable, eg, no of enquiries, requests for downloads, requests for an assessment, or other digital engagement tactic.
This way it’s not guesswork. You can later point to quantifiable results.
Summary – winning trust in video
Increasing trust will help you beat price objections and win big.
Video is the prime engagement vehicle to generate trust as it’s seen everywhere your customers are, from website to inbox to social media.
– Script content is the first place to start.
– Visuals must have the look that’s instantly trusted.
– The video type you can use to promote customer trust.
Always end with your unbeatable proposition as a single line.
You’ll need a strong call to action so you physically capture the moment of trust you’ve just generated in your viewer.
Embrace this new knowledge in your next explainer video and more customers will trust you.
About Kevin Rossiter
Producer, director & scriptwriter, Kevin Rossiter, has produced over 1,000 B2B videos internationally & locally, across 30 years. His title is Managing Director of Studio Rossiter, an independent UK-based global production company.
He’s won 11 awards for video, and an “outstanding business person” award.
When he’s not busy helping his 250+ clients achieve their goals, he’s writing helpful how-to blogs.
When asked how he keeps coming up with so many non-stop ideas, his reply was:
“I listen, I study, I do the homework, live the part, until a project feels like a part of me. Then the ideas just seem to flow, often at 6.30 in the morning when I wake up and make the tea.”