August 16, 2018

Should You Invest in Video Marketing for Your Ecommerce Business?

August 16, 2018

Should You Invest in Video Marketing for Your Ecommerce Business?

Creativity, Content Marketing, Marketing Strategy

When it comes to showcasing your brand to your audience in the best way possible, videos are still unrivalled.

In previous posts, I’ve covered how videos can help boost audience engagement through storytelling and how video can drive results.

Today, I’ll talk about video’s dramatic impact in the field of ecommerce. If you have yet to decide on using video to promote your products, we’ll highlight key points of what you could be potentially losing out on.


Boost Your Conversion Rates

Adding ecommerce videos on your website increases your conversion rates dramatically. According to Ecommerce Platforms statistics, up to 73% of consumers are more likely to purchase products or services if they can watch a video explaining it beforehand.

Watching a product video demo works better instead of reading through a list of features in a description box. And we know this to be true on a personal level: every time we need to make a new purchase or do our research on the latest gadget, the buying decision just won’t be complete without watching a product demo first on YouTube. Online shoppers who watch a demo video of your product are 1.81 times more likely to buy from you.  

Video just makes it easier and faster to deliver your message. In a time where people are always on the go, video has become the go-to content for people looking for more in-depth information about products and services.

Video now appears in 70% of top search listings — attesting to the fact that it has already left an indelible part in how we market products and services today.

 

Explainer Videos Are More Effective at Holding Attention

There’s a reason explainer videos are still on the rise. People just do not have the time anymore to read through lengthy manuals or boring instructions.

Recent surveys show that 80% of brand audiences prefer watching a video than reading a blog or other social media posts. According to Forrester Research, a one-minute video is worth 1.8 million words. Think of everything that you can say when you decide to use video to deliver your message.

From 12 seconds in 2000, data from Source Global Research points out that our average attention span today is as low as 8 seconds. This means you only have less than 10 seconds to capture their attention.

Nowadays, an explainer video is the best way to show people how something is done. Not only do videos capture the viewer’s attention, they improve retention and make it easier to associate a company or a brand over a specific concept, which ultimately leads to conversion. Many viewers remember as much as 95% of the message when watching videos, as compared to only 10% through text.

Here’s an example of a product demo video for the work we did for Curash.

 

 

In explaining difficult concepts, a 60- to 90-second video works more effectively than a ten-page white paper. To present something of value to your audience today, it is important to always be wary of their short attention spans. Video’s ability to engage and hold attention is the answer.


Ecommerce Videos Drive Traffic and Build Authority

It may not be surprising to note that customers find companies to be more trustworthy when they produce video content. And this says a lot, especially when looking into how today’s top retailers are using more video in their marketing strategy.

Not only does video drive more traffic to your site, brands and companies that produce video content find that more people are engaging with their video content through likes, comments, and shares. A video on Facebook gets 135% more organic reach than any photo, proving that video gets the most engagement on social media than any other form of content.

It is also worth noting that people are more likely to share videos when they find it valuable, useful, and educational. The opportunity to amplify your reach through great video content is massive.

 

Video on Mobile: Be Where Your Audience Is

Nowadays, you can’t go anywhere without your smartphone. Google points out that we check our smartphones 150 times a day. More people today turn to their smartphones to google something or get information more than their desktops.

In fact, as much as 76% watch videos at least once a week on their mobile devices. When looking up information on a product or company, smartphone users feel that those who offer video content on their mobile sites are more trustworthy.

Mobile’s increasing popularity means there’s a huge opportunity for mobile marketing advertising, and video is the answer.


Don’t Hold Back: Incorporate Video to Your Ecommerce Marketing Strategy

Today’s consumers know exactly what they want, when they want it. It takes more than just a description box or a product photo to get them to convert. In the world of Ecommerce, the only way to win is to wow them with your offering — and video is the way to go if you want to showcase everything they are missing out on.

Sure, video production costs can pile up, but if you can consider having a long-term strategy of scalable video content that works with your marketing funnel, you can definitely get more bang for your buck.

If you’re still mulling over how video can boost your marketing ROI or if you have questions about using video for your E-commerce marketing strategy, leave a comment below or get in touch with us and we’ll be more than happy to help you explore your options.

 

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