By the end of 2019, there will be 20.3 million online shoppers. For e-commerce brands and retailers, that translates to an abundance of opportunities to engage with consumers – whether it be gaining new customers or building brand loyalty with existing.
With the rise of social media, mobile usage, and third-party retail sites, it’s become even more critical to stand out to consumers, so retailers must ensure their products are portrayed in an engaging, attention-grabbing way.
Leveraging video, retailers can merge the tangibility of offline shopping with the convenience of e-commerce, resulting in an experience that offers the best of both worlds while also allowing a brand to show their products in action.
Visuals are More Influential
80% of people remember what they see, so visuals have become a powerful tool in the world of e-commerce as consumers are much more keen to purchase a product after they’ve seen what it looks like in a real-life scenario.
Video takes visual inspiration to the next level as it’s interactive, appealing, and it allows for a higher engagement rate with its viewers. It’s also changing the buyer’s journey as consumers can leverage videos in various ways when they’re considering what to buy; they can consume or share user-generated content, view influencer content, share product reviews and more. In fact, a study conducted by Brightcove last year found that 53% of adults engage with a brand after watching a video.
Consumers spend countless hours browsing digital channels, so brands need to capitalize on this habit by communicating in a way that’s familiar to consumers, while simultaneously offering convenience and the opportunity to easily purchase the products they desire.
Investing in Video
To reap the benefits of this hyper-connected world, there are many types of video content that retailers can incorporate into their e-commerce strategies.
● Shoppable Videos: When a consumer desires a product, purchasing should be immediate and seamless. Shoppable videos offer calls-to-action and add-to-cart- functionality that turns inspiration into a sale within seconds. In fact, Endeavour Drinks Group (EDG) has seen 41% of its viewers add products to their cart as a result of interactive video.
● Live Videos: Live streamed videos offer a level of authenticity that pre-recorded videos cannot as they allow viewers to be in the moment with a brand. Whether it be a product announcement or a demo, live videos add an element of credibility and allow audiences to relate to a brand more closely.
● Product Demos: Demonstrating all that a product has to offer is critical to proving its value. Online electrical retailer AO uses video to give more insight into product descriptions, giving its customers the confidence they are making the right choice.
When investing in a video strategy for e-commerce, it’s critical for brands to understand how it’s performing. Leveraging video analytics is key to evaluating metrics like view count, engagement scores, play rate, etc. so that retailers can understand what videos are driving ROI and which need improvement.
Consumers today want an e-commerce experience that correlates to their everyday lives, and video gives them just that – an interactive, engaging experience that offers authenticity and an immediate path to purchase.
