The digital marketing landscape is in the midst of transformative changes, presenting savvy brands with exciting opportunities to surpass their competition. Instead of viewing these shifts as threats, think of them as your chance to innovate and lead. The new mantra is “Disrupt or be disrupted,” but that’s not a cautionary warning—it’s a call to action.
To seize this moment, we’ve identified four critical rules that are shaping the future of brand engagement:
- Video is Everything. In today’s fast-paced world, video is the preferred format consumers wish to consume content.
- Shrewd Investment in Your Own Ecosystem. The more you own your customer’s journey, the greater your competitive edge.
- Loyalty and Trust: The Lifeblood for Brands. In a marketplace where customer loyalty is elusive, this should be your compass.
- The Need to Shrink the Customer Journey. In a crowded field, efficiency is no longer optional; it’s a necessity.
For brands looking to navigate these four new rules, video commerce stands out as an ideal solution. It integrates video into the e-commerce experience, offering a range of formats from product demos to customer testimonials, all aimed at making shopping more informative and engaging. In essence, video commerce not only aligns perfectly with these new rules but also amplifies their impact, offering a strategy that’s both dynamic and effective.
Let’s take a closer look at each rule, explore its significance, and examine how video commerce can revolutionize your approach.
Rule #1: Video is Everything
In the digital marketing landscape, various forms of content compete for consumer attention, but none have the gravitational pull that video does. Video has become the gold standard in today’s attention-driven economy. According to a report, video accounted for 82% of global internet traffic in 2022, and this number is expected to grow. The importance of video can’t be overstated; it has the power to captivate consumers in a way that other forms of media can’t, significantly affecting buying decisions and leaving a long-lasting impression.
How Video Commerce Can Elevate Engagement
Video commerce offers a more interactive and personal experience for the consumer, and is far more engaging than static content. For instance, in the fashion industry, integrating runway shows into an online shopping experience lets customers see how clothing moves and fits while allowing them to add items to their cart as they watch. This perfect marriage of entertainment and shopping options shortens the customer journey and enhances the overall experience, thereby contributing to long-term brand loyalty.
Rule #2: Shrewd Investment in Your Own Ecosystem
In a time when data privacy concerns and third-party platform uncertainties are on the rise, investing in your own digital ecosystem is more vital than ever. Owning the customer journey from start to finish eliminates the reliance on external platforms, which may not always have your best interests at heart. Furthermore, it enables you to collect valuable first-party data, which is a treasure trove for personalized marketing and predictive analytics.
How Video Commerce Empowers Self-Reliance
Video commerce serves as a natural extension of this self-reliant digital ecosystem. By incorporating video directly into your online store or app, you not only engage the customer more effectively but also have more control over their entire journey. Imagine a consumer electronics brand offering detailed video tutorials and 3D walkthroughs right on their platform. This not only engages the customer within the brand’s ecosystem but also drives trust and increases customer lifetime value, with shoppable videos increasing conversion rates by up to 30%.
Rule #3: Loyalty and Trust: The Lifeblood for Brands
Consumer skepticism is at an all-time high, making brand loyalty more elusive than ever. Establishing a deep, meaningful relationship with your audience becomes not just a bonus but a necessity for long-term survival.
How Video Commerce Builds Trust and Fosters Loyalty
Video commerce can offer an advantage in this critical area. It fosters deeper interaction between the brand and the consumer, facilitating the communication of values and brand identity more powerfully than text or images alone. For example, a food and beverage brand could offer video-guided virtual wine tastings or interactive cooking demonstrations. This immersive experience does more than just entertain; it builds a community of loyal followers who are 90% more likely to buy a particular brand’s products after watching a video.
Rule #4: The Need to Shrink the Customer Journey
The longer a customer has to navigate through your sales funnel, the more opportunities they have to drop out of it. In a costly market, simplifying the customer journey is essential to stay profitable. Every extra step or click could be a potential exit point, making efficiency a top priority.
How Video Commerce Streamlines the Customer Journey
Video commerce directly addresses this need for efficiency. It not only enriches the shopping experience but also simplifies it, thereby reducing the time and steps involved in converting a visitor to a customer. A beauty brand presents tutorials, allowing viewers to actively click and purchase the products being showcased in real-time. This seamless process transforms viewers into customers in a single step and is shown to increase conversion rates by up to 80% when video is included on landing pages.
Unlocking the Future of Brand Engagement Through Video Commerce
The four guidelines we’ve discussed are not just nice-to-haves; they’re essential components for any brand looking to not just survive, but thrive in today’s fast-paced, ever-changing digital environment. Ignoring these principles is tantamount to leaving valuable opportunities on the table and risking obsolescence. But when implemented effectively, these rules provide the strategic foundation for a brand that’s not just in tune with modern consumer needs, but actually leading the way. You’re not merely adapting to the digital era—you’re defining it.
Firework’s video commerce platform is designed to be your go-to resource in this transformative journey. Offering features like video showrooms and live events, Firework provides an unmatched suite of tools to elevate customer engagement, deepen brand loyalty, and drive robust sales conversions. Don’t just keep up with the ever-evolving digital landscape—own it. Harness the full power of video commerce with Firework and become a trailblazer in the new era of brand engagement.
Book a demo to transform your site or already a client? Reach out to your CSM to go live today!