Video is becoming increasingly popular on websites and social media – but it’s still one of the most under-utilized tools among e-commerce merchants.
Product videos are more than just a powerful way to explain products and services to potential customers. They’re also a great way for merchants to take their marketing to the next level, increase conversions on their website and get ahead of their competitors.
Plus, statistics show that product videos are strong drivers of online purchases: Visitors are 64%-85% more likely to buy a product on an online retail site after watching a video.
But the benefits don’t stop there. Other reasons why online retailers should add product videos to their marketing strategy include:
- Improve Search Rankings
When Google generates search results, they display a mix of content including videos, images, news and maps in addition to websites. Having product videos (especially those hosted on YouTube, which is owned by Google) gives companies yet another critical opportunity to rank.
- Demonstrate Products in Action
Videos that show how to assemble a complex product, how a product can solve a common problem or offer a detailed product demonstration can increase sales. This is because product videos build confidence in the product by educating customers on what they’re buying and give them an idea of how it works in real life.
- Let Consumers Compare a Product With Competitors
Descriptions and photos might not be enough to let consumers see what makes one product or service better than another. But video comparisons help give a product that extra edge when it comes to decision-making. In fact, 96% of consumers find videos helpful when making purchase decisions online.
- Provide a 360-Degree View of a Product
A video is the next best thing to a customer being able to hold a product — and that viewpoint is important when making purchases sight unseen. Demonstrating what a product looks like from all angles as well as offering size and weight comparisons go a long way in winning clients over.
- Increase Sharing
According to Simply Measured, videos are shared 1,200% more times than links and text combined. Additionally, 60% of customers will engage with a video post before a text post. E-commerce retailers who aren’t creating videos are missing out on a huge opportunity to expand their reach and get in front of a larger audience.
- Increase the Likelihood of a Purchase
Online shoppers are visual consumers, and visual content is one of the most influential factors in determining whether they will make a purchase. In fact, after watching online product videos, shoppers are 144% more likely to add a product to a cart and 73% more likely to purchase a product.
- Improve Your Perceived Trustworthiness
Not only do 71% of consumers have a positive impression of a company after watching videos, but 58% of consumers also think companies who produce videos are more trustworthy.
- Minimize Returns and Complaints
Videos give consumers the opportunity to see how products perform before they place an order — and that results in 57% of customers being less surprised when their online order arrives. Videos ensure customers understand what they’ll see when they unbox a product, helping merchants minimize the frequency of returns, cost of refunds and hassle and damage of chargebacks.
- Educate Customers
Video can convey a large amount of information quickly and educate customers on what a product looks like, how it works, specifications, benefits and more. Product tutorials also help increase conversions and encourage customers to return after the purchase for additional product information.
- Gain a Competitive Advantage
One of the biggest reasons e-commerce merchants aren’t using video is because they think it’s too complicated. The fact is, though, implementing a video strategy is one of the simplest ways to get a leg up on the competition since it’s so under-utilized among online retailers.
How to Implement a Smart Video Strategy
E-commerce retailers that are ready to capitalize on the power of video should be mindful of these tips when developing a video strategy:
- Do make engaging videos. They don’t have to be funny or created with the intent of going viral, but they must be captivating enough to keep the viewer’s attention.
- Don’t start posting product videos without first establishing a video strategy. This means knowing the target customer, the platform that videos will be uploaded to and each video’s place in the marketing funnel.
- Do use videos to tell a story. The best videos are ones that resonate with the audience, tap into their emotions and are an extension of a business’s brand.
- Don’t make videos too long. For the sake of keeping a viewer’s attention and sharing on social media, most demonstration videos should be shorter than 30 seconds, while tutorials are best kept to under 3 minutes.
- Do take advantage of customer videos. Have social media influencers record videos showing product unboxing and explaining how the product works. User-generated video reviews are also a great source of unbiased opinions that help generate traffic and sales. Merchants can even sponsor a social media contest for the best customer-submitted product video.
- Don’t make customers figure out a complicated product themselves. Product demonstration videos can ease a customer’s frustration if a product is difficult to assemble or complicated to use.
Product videos are a powerful way to pique interest, build credibility and educate customers on a product or service – but they’re not the only technology trend merchants should leverage to improve the overall customer experience.
Learn about the top three e-commerce technology trends that are shaping the consumer’s online shopping experience by downloading our free white paper, The E-Commerce Technology Trends That Will Shape 2017.