The 21st century has introduced a need for deeper customer engagement for sustained business growth. The growing population of millennials and zoomers (Generation Z), penetration of video-based digital touchpoints, and a boom in the creator economy are ushering in a new era of transformation in customer engagement. The current state of global e-commerce demands increased focus on metrics such as reach, engagement and conversion. Businesses need to score good engagement and maintain an impressive conversion rate. This is why traditional methodologies are giving way to new-age marketing techniques like livestream shoppable videos to engage with customers directly and facilitate real-time shopping.
Industry experts believe that shoppable videos are poised to become the preferred mode of shopping for the new-age tech-savvy customers.
Several surveys from Asia and the United States suggest a promising growth of livestream shopping with up to 20% revenue generated from shoppable videos and livestream shopping by 2026.
Let’s see why the shift from traditional customer engagement strategies to digital media content might be the next big thing for global e-commerce.
What are shoppable videos?
A shoppable video can be defined as showcasing the brand’s products/services and enabling the user to shop the products/services featured in the video with real-time purchasing capabilities. Consumers get to shop quickly and seamlessly as they watch the video with tools like a sidebar that facilitate queries, shopping, reviews and other information in real-time.
Statistically speaking, 83% of global brand marketers believe in shoppable videos as a mainstream way of generating leads.
Shoppable videos enable brands to engage with a high-intent audience in comparatively lesser time than traditional customer engagement techniques. Shoppable videos allow users to buy the products showcased by simply tapping on their screens.
Industry experts believe that a good shoppable video should have three basic factors:
- The video should be informative and concise.
- The shoppable video should convey the brand’s story.
- It should be engaging and creative.
The advancement of advertising technology and the growth of online marketing brought a drastic change in the way consumers shop. Today, e-commerce brands are pushing the boundaries of offering a seamless shopping experience with the smart integration of commerce and commerce to drive engagement and conversions.
Livestream shopping and social commerce have been adopted by 40% of brands worldwide.
Brands are recognizing that shoppable video is one of the keystone strategies to increase on-site engagement organically. E-commerce benefits from this to a large extent. Shoppable videos keep the viewers engaged and allow them to buy the products in real-time.
Examples and use cases
Shoppable videos have been significantly popular in China and a few other Asian Countries. In comparison to the East, the adoption of Shoppable videos are not at full scale in the United Kingdom and the United States, but the results are promising enough to gain high popularity in the next few years. Numerous brands incorporate livestream shopping in their mainstream marketing techniques. Some industry use cases and examples of brands using shoppable videos are:
Ted Baker is a British luxury clothing retail company that launched a 3-minute shopping video in 2016. Despite the comparatively low engagement rate at that time, the company successfully showcased its fashion marketing campaign. As a part of the marketing and advertising strategy, they allowed viewers to purchase the product right from the video to give an equivalent participation experience to their viewers, thereby driving their viewer’s attention. The campaign was a massive success for the brand.
Burberry is a luxury fashion house from Britain. It has been experimenting with several shoppable videos and content marketing strategies with visual effects since 2012. They launched their outerwear collection and supporting accessories directly on their website with shoppable videos in 2012, eventually gaining huge popularity and engagement with web stories and interactive videos.
Kate Spade took shoppable content to a new level with its clothing and accessory branding. They launched their clothing accessory brand by including shoppable video content starring celebrities like Anna Kendrick. The videos achieved massive success, with an exceptional conversion rate for the brand. To offer a more effortless user experience, the marketing team assembled all items into a shopping list. The products were made clickable at the end of the video.
How can Firework help brands in leveraging shoppable videos?
Firework allows brands to seamlessly incorporate high-impact video shopping experiences into their operated websites and apps. Firework’s no-code platform connects to custom websites and popular E-commerce CMS solutions.
With Firework, brands can build emotional and authentic connections with customers on the back of superior technology. Dynamic short-video are designed to boost customer engagement. Plus, the platform gives a swipeable, shoppable, and interactive experience that links smoothly across every major CMSs.
Firework provides a suite of enterprise services and tools that assists publishers and brands design, curate, and host mini videos. The facilities also include Open Story Page which provides brands with a dedicated destination to help them monetise their content.
E-Commerce brands create shoppable videos to get high engagement and boost sales. This also helps brands offer an immersive customer experience and facilitate a buying process that is just a few clicks. Giants like Alibaba have received astounding results using livestream shopping and shoppable videos to engage with their customers. In essence, shoppable videos are ready to take the e-commerce world by storm merging entertainment and shopping experience using interactive video solutions.