Is it essential to convert existing text reviews into video reviews?

I would not say essential, but it's always good to have text reviews converted into not just video, also in audio. Because you would targeting wide range of potential customers. Some people prefer to audio format, some video and old school like me text, so if you have production and budget to cover all three, that's great!

Video reviews in my opinion are the best testimonials to have. Unfortunately, they are also the hardest to get. A lot of clients (former and current) are happy to type their thoughts, but to film them requires more time and becomes much more intimate. Unlike text reviews, video testimony creates the impression of human contact between the viewer and reviewer. That connection creates far more credibility for your product than text reviews alone. However, text reviews are far better than having none. Whilst video isn't essential it will definitely benefit you.

I won't call it a necessity. However, it can be a good SEO hack. Since videos bring more value from an SEO perspective, converting your text reviews into video reviews can get you twofold benefit. 1. Reviews in themselves are attention-grabbing content, and when combined with video - they'll be even more significant. 2. Videos are going to get you more traffic.

It’s because videos are helpful. If customers watch a video, they might like a product more and be willing to buy it.

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Some people think videos on the internet are not good. But they are popular, because many people like them. If you use videos to sell things, you’re more likely to make a sale. Some companies use videos to sell things on the internet.

Videos help you sell more things. Customers who watch a video are 97% more likely to want to buy something. Videos make customers 64% more likely to buy something online.