Why Shoppable Videos Are Critical For Brand Growth In 2022

Priyam

We have all heard the adage, “A picture is worth a thousand words.” Now, it’s time to update the old saying. If a picture is worth a thousand words, then a video is worth a million – 1.8 million words, to be precise. 

According to Dr. James McQuivey of Forrester Research, a one-minute video has similar results to 1.8 million words (3600 pages) to convince an audience.

The average human attention span is just under 9 seconds. Even if you consider a 500-word blog, it takes a reader two to three minutes to finish. 

As a marketer, which format would you prefer? It is no surprise that video has surpassed every other content format to become the preferred medium of communication and commerce. 

According to Cisco, videos will make up more than 82% of all consumer internet traffic by 2022. About 73% of consumers who view a product-related video will go ahead with the purchase.

The short video phenomenon is taking over the world as consumers demand more ‘snackable video content’ that is mobile-first.

But what if there was a way to enrich videos with more value? With Shoppable Videos, brands can reinvent one-dimensional online shopping.

shoppable video post infographic about rise of video in 2022

 

What is a Shoppable Video?

Shoppable video is interactive video content with a buy button embedded in it. It effectively lets consumers watch a video and purchase products from within the video itself.

Simply put, a shoppable video is an interactive video that seamlessly blends in a product or service. The strategic use of embedded links allows viewers to click on the product featured in the video to view more information and continue to purchase in real-time without ever leaving the video.


 

 

 

 

Shoppable videos enhance consumers’ shopping experience by combining the total immersion of video with the convenience of E-Commerce. Shoppable videos plug drop-offs that may take place from the moment a prospect views the video until checkout. 

Thanks to social media platforms, consumers are hooked to short-form videos and ‘stories’ and continually crave a similar, vertical-video experience. With shoppable videos, brands can deliver a similar experience on their digital properties along with a razor-sharp focus on conversions and brand engagement. 

With shoppable videos, a brand can do away with the tedious ‘image and text’ medium to showcase a product or service. Instead, a fully-immersive video can provide consumers a 360-degree overview with a tiny buy button at the bottom.

With one click, you can add multiple products to your shopping cart, move to the payment page and complete your purchase without disconnecting from the video experience. That is the power of shoppable video, and it’s the future of the online shopping experience.

How Can Shoppable Video Help Your Business Grow?

Shoppable video harnesses the power of video commerce to drive business growth. Here’s how:

  • It presents sales, marketing, and advertising with an entertaining twist, which drives engagement compared to a photo + text-description layout. A whopping 99% of consumers enjoy watching videos published by brands.
  • By making your video content “shoppable,” you are simplifying the sales funnel, making your products more accessible, and elevating the buyer’s journey onto the fast track. Such a move can save your business from sales revenue losses of up to USD 18 billion.
  • The use of native, embedded CTA’s allows viewers to directly go ahead with the purchase, increasing conversion rates and offsetting leakages. And CTAs integrated within videos get 380% more clicks!
  • Videos are known for driving up engagement metrics (by nearly 2x). However, when you incorporate interactive elements while showcasing the product, you will attain a heightened state of engagement.
  • Shoppable videos help drive up stickiness and increase the average time spent on your brand properties. Firework-powered brands have reported up to 9 minutes of added session time with shoppable media.
  • You can measure, track, and analyze the performance of a shoppable video and derive real-time insights, including engagement, impression-share, and conversions.
  • With shoppable videos, brands can generate first-party data and use this information to enrich the end-user experience with enhanced targeting.

Getting Started With Shoppable Videos

 

 

With Firework, creating shoppable video content is incredibly easy, thanks to Firework Creation Studio. Firework has built the first enterprise-grade vertical video editing studio designed for businesses. Here’s a quick read on creating shoppable, short-form videos with Firework.

  1. If you already have a video catalog for your brand/products, you can quickly repurpose existing content into short-form vertical video with Firework Creation Studio. 
  2. In case you are just getting started with creating videos for your brands, here’s a quick guide to get moving with creating product videos
  3. To convert your YouTube videos into shoppable, vertical web stories format, you can get going quickly with Firework’s Youtube Importer tool. 
  4. Showcase your top sellers with sharp, immersive video content optimized for mobile-first audiences and create a web story experience on your website. 
  5. Incorporate shoppable links to the videos to let users engage with your products without leaving their video viewing experience. 

Here’s how simple it is to create a shoppable video with Firework:

 

Step 1: From your Firework business dashboard, upload the content for your video.

 

Step 2: Add necessary details and click the option to add video overlays.

 

Step 3: Choose the right overlay for your needs.

 

Step 4: Add the desired link for your CTA!

 

That’s it! Your Shoppable Video content is now ready. Go ahead and use it on your website to supercharge engagement and conversions!

Shoppable Video Best Practices

We have an excellent and highly detailed knowledge base of rich content to guide you through the nuances of creating shoppable videos. Here are four top tips to help you ace shoppable videos for your business. 

  1. Rather than overcrowding the frame with multiple items, stick to 3-4 products per shoppable video. 
  2. Space out multiple products between shots to avoid overwhelming the frame + audience.
  3. Ensure that your product is centrally placed in the video frame to maximize impressions and impact 
  4. With Firework’s Layout Studio, determine the best layout for your shoppable video content on your website to ensure a native experience. 

Check out our Showcase to get the creative juices flowing if you are looking for inspiration.

Shoppable Video Examples: An Illustration in Action

Let us look at how some of the leading brands leveraged Firework-powered shoppable videos to their benefit:

  • Albertsons: Albertsons is the 3rd largest grocery store in the U.S. with over 3,000 locations. They use the Firework Story Block Carousel unit to showcase unique, highly immersive video content to onsite visitors to supercharge the retail experience. Albertsons’ goal with Firework is to become the “Pinterest for Food”, and to “inspire” instead of just to “transact”. 

albertsons web story

albertsons web stories

 

  • Big Bazaar: One of India’s largest retail chain operators, Big Bazaar, implemented Firework’s shoppable video units via a carousel on their E-Commerce website to transform the digital customer experience. Customers interact with short-form vertical videos that showcase products in detail and feature a ‘Shop Now’ CTA to complete the purchase. 

big bazaar shoppable video carousel big bazaar shoppable videos preview

 

  • FLUFF: As a leading home goods brand, FLUFF’s mission is to bring the luxury hotel experience to consumers’ homes. FLUFF uses Firework’s shoppable videos to engage with customers on their website and build up relationships with next-generation buyers.

fluff co shoppable videos fluff mobile shoppable videos website

 

Shoppable Videos For Business Growth 

Shoppable Video marks a new era in consumer-centric video commerce, and we are excited to see how it will pan out for different businesses. Given that modern-day customers wield exceptional power in dictating what companies should (or shouldn’t) do while selling to them, not abiding by the rules set by them is no longer an option! 

To cut a long tale short, the best time to incorporate shoppable video in your marketing strategy was two years ago; the second-best time to do so is NOW! 

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