InDinero.com, the online financial dashboard for businesses created by 21 year old Silicon Valley wunderkid Jessica Mah, has come forward with some hard evidence that using video on their homepage has helped double their conversion rates.
inDinero has spent two months doing rigorous split testing between a more traditional landing page design and a page with basically just a big video and a simple signup form.
The results couldn't be more promising. The page with just a large video has increased inDinero's signups by almost double from 6.8% to a whopping 11.2% (today it actually peaked at 12.4%).
Here is inDinero's classic homepage design:
And here is the new design showcasing a huge 1 min overview video:
Jessica was ecstatic with these remarkable results as it can seen in this excerpt from an email she sent me yesterday:
The results are awesome. In old.png, we get 6.8% conversion rate. In new.png, we get 11.2% conversion rate. This is almost DOUBLE, MIGUEL!!!
So the value of having a super minimal homepage with only a video in the middle VS spending lots of time making a fancy website: ~2X your current marketing budget.
I hope this helps you sell the dream of Grumo
Yes it does indeed Jessica! I've been prying my clients to gather proof that a good demo video is a very smart investment for their startup. This is the kind of evidence I was looking for. Thanks Jessica!
Basically, thanks to this demo video, inDinero revenues could potentially double.
Even a for small startup with revenues of $100K a year, this would mean an extra $100K of annual revenue.
This means that a $10K investment on a professionally made demo video would literally pay itself off in just over a month!
Video is a hot trend and more and more data is supporting the value of having a great demo video on your landing page.
InDinero is not the first company to bet big on video as their main way of greeting new vistors.
Well established companies such as Dropbox, 99designs, and even Woody Allen have completely removed all the clutter from their homepages and replaced it with huge video players showcasing their products and services.
Do you have a startup? are you launching a new product? where is your demo video?
Here is the demo video that Grumo Media produced for inDinero:
Update [2011-06-20]: inDinero is still doing split testing so you may not see the minimalistic page when you visit their homepage. To force minimal version with only the video player go to http://inDinero.com/minimal_home
Mentioned in this post:
New Grumo: What is inDinero?
Jessica Mah candid interview with Miguel Hernandez of Grumo Media
Why every website needs a great explanatory video
Step by step guide to produce a promo video
How to create an Awesome demo video
How much a typical promo video costs?
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