Getting into a great startup accelerator or incubator is not easy. A lot of hard work needs to be put in to convince them that you are the best of the lot and you deserve a spot. However, there is one particular thing that many of the accelerators and incubators have now started to ask from all the startups who wish to apply into their programs, and that is an explainer video. Not only do explainer videos help startups to increase their revenue by as much as 10% to 15%, they also assist in bringing a convincing argument for them.
The Importance of Explainer Videos for Accelerators and Incubators
1. Help in Clarifying the Objective of Your Business Model
Explainer videos are better convincers of a particular business model because they take all the guesswork out and better explain basic function and usefulness of a service or a product. As a startup, you should know that this is exactly what accelerators and incubators are after. They do not want fluff in the form of text. They want instant clarification without wasting any of their time. Additionally, 60% of the individuals would like to watch videos as compared to read texts. Accelerators and incubators likely comprise of busy professionals who would not want to waste their time trying to comprehend information that is provided vocally or through texts. 75% of the executives had revealed to Forbes that they like watching work-related videos on various websites once in a week.
Crispify – Incubated by Startup Chile
2. Increase Information Retention
Explainer videos are better able to help individuals retain the information they view as opposed to simple text. According to a Wharton Research Center study, an average person will be capable of retaining around 10% of the things that they hear. However, if they see something, then they will be able to retain around 50% of it. This creates a huge difference, and since you as well as accelerators and incubators need to focus on maximum retention of information, explainer videos are extremely necessary and preferred. In addition to this, people who watch videos online are known to stay on a page two minutes longer than the people who do not watch videos. It has also been said that about 80% of the people who were online on a day to day basis did not have an issue of recalling a specific video even after 30 days had gone by.
3. Showcase Your True Personality
Startups need to be able to portray the type of personalities that they have since the accelerators and incubators want to see what you are all about. The best display of a start-up’s personality is through your explainer videos. These videos let others know how they can trust you and your business model. A quick connection can then be made or broken at the same time depending on the explainer video that you show. If your audience remembers your product or service by the end of the video, then you will likely be a hit!
Aside from these factors, explainer videos are generally better at communicating what you want to convey. More people prefer watching videos as opposed to reading long boring texts. According to one study that was published in The C100, it has been said that more than 70% of the users online like to watch videos over the internet. Explainer videos also aid in making a pitch more exciting and engaging, especially when the concept that you have to explain is tricky and complicated.
Overall, explainer videos have become increasingly popular these days and are possibly the best way to explain a concept to another party.
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