Online video content has been dominating viewer attention for some years now, with 82% of marketers acknowledging an increase as consumers are glued to videos. It has reached a point where videos have been empowering customers to learn about brands and make purchase decisions.
And the numbers prove it. In 2022, 66% of customers admitted to watching video content for brand and product education purposes.
A New Avenue for Driving Conversions
In today’s fast-paced online world, brands are seeking ‘see-now, buy-now’ behavior wherein customers are spurred on to make instant purchase decisions. And much of this depends on the perceived value a brand can build with rich and actionable video content.
Four Reasons Why Shoppable Videos Work
A customer spends hours swiping through short videos. Imagine if they could buy a product they liked instantly from the video itself. Maximizing convenience and eliminating a long-drawn online shopping process, shoppable videos are designed to reduce the journey from intent to purchase.
1. Simplifies the Purchase Funnel
Shoppable videos can change the customer’s mindset from intent to purchase in a single playthrough. Customers don’t need to search on websites or go through lengthy checkout processes; a single ‘Buy Now’ button on a shoppable video is all brands need to increase and quicken conversions.
2. Leverages Improved Customer Experience
Video-powered shopping experiences can boost engagement by up to 250%. Thus, it is imperative for brands to channel their full potential to create great buying experiences through video content.
Videos can guide customers, provide a platform for User-Generated Content (UGC), and display products in a way static images cannot, and all of this helps to build lasting trust between the brand and the consumer.
3. Dishes Out Shoppertainment
If the shopping experience is enjoyable and enriching, a brand will likely earn more than just conversion. They will earn loyalty. Customers are already at a point where they expect shopping experiences to be interactive and entertaining.
Conversations through livestreaming, short, interactive videos and swipeable video stories on the website are all ways to deliver the shoppertainment experience for your customers.
4. Gathers Real-Time Data
As third-party cookies phase out, reliable first-party data will be king. And what better way to gather real-time data than video content? With shoppable videos and livestreams on their own websites, brands can enable and encourage customers to interact and engage, gathering real-time data to improve their marketing efforts.
A Shoppable Video Format For Every Goal
Brands wondering whether video as a format is right for them should know that video content is perhaps the most flexible format. Whatever your marketing goal, there’s a shoppable video for it:
Video Carousel: Swipeable video carousels can engage customers for extended periods of time while adding a pop of multimedia to the website that improves retention and repeat customer traffic.
Explainers/How-Tos: If educating and helping the customer is the main goal, short explainer videos on product pages can inform and encourage customers to purchase the product with confidence.
UGC and Customer Reviews: Testimonials on the website help build trust. And the trust is stronger when these testimonials and reviews can be seen as videos. Such user-generated content (UGC) also helps build a sense of community among loyal customers.
Livestreaming (and Replays): The most interactive way to bring influencers and brand representatives right before the customer is in real-time. Livestreams drive high engagement and enable customers to make purchase decisions more promptly.
Brands That Leverage Shoppable Videos To Drive Conversions
The celebrity esthetician elevated her brand’s customer experience by deploying short vertical videos across the website. These videos range from product tutorials – from Angela herself – to product reviews and explainers.
With at least two livestreams a month, she addresses customer queries, helps them overcome purchase barriers, and provides skincare tips and routines. The result? 2X growth in average order value and a 3X increase in conversions!
Spread the Love
This home-grown superfoods company has harnessed the power of videos to accomplish various goals. The website has a feel-good vibe with videos showcasing its products, new merchandise, and even UGC.
Spread The Love also goes one step further with a video on the founder’s story on their story page to make the brand more human and relatable.
Firework enabled them to improve conversions with frictionless, one-click in-video checkout on livestreams and short videos. This has resulted in a 14% increase in conversions with new and interactive conversion touchpoints across their websites.
Luxury loungewear and skincare brand, Foo Tokyo, incorporated a short videos section on their website to show off their collection. This includes models flaunting the fit of the clothing, giving customers a good representation of what they’re looking at.
For its landing pages, Foo Tokyo also employs the story block format to create stories as part of its marketing campaign.
The Wrap Up
Firework is empowering brands with video content marketing that drives conversions at every possible opportunity. In 2023, we can expect video content to only get bigger, and the brands that still won’t leverage it will stand to lose out.
Interactive videos across your website can significantly impact how products are perceived and bought, not to mention the first-party data that can be collected. Hence, the right time to embrace video commerce is now!