Using video testimonials has become a useful strategy by businesses in their marketing with Social Networking.
Below is a link to Nielsen, who reported about "what consumers trust online."
Basically, 70% of people trust Consumer Opinions posted online and Brand Websites.
I've an associate who’s done a lot of research in the realm of website credibility, and he can tell you that testimonials have been proven effective in terms of building "trust". It's important to recognize that there is a difference between a good testimonial and a bad one. Video testimonials add a different element - it essentially breaks down the barrier and adds that face-to-face.
I think when people go to a website, and they're interested, and they see a bunch of really solid, genuine, authentic testimonials - it'd definitely increase my confidence that you could provide me with value thus making me more likely to convert.
What Consumers Trust Online