Data-Backed Proof For Why Product Video Drives High Ecommerce ConversionsJun 5, 2015 - by Business2Community
Are you using video on your ecommerce site? If not, you may be missing out. Research shows that customers make significantly more purchases from sites when product pages feature video.
Liveclicker’s Video Commerce Report breaks it down,finding that sites featuring video on the majority of their product pages saw an increased AOV to the tune of 68%. Additionally, 88% of survey respondents saw increased conversions after adding video to product pages.
But what is it that makes video so effective for ecommerce? Well, in general, the online media industry is moving more and more toward video, and each new generation of internet user is increasingly preferring this type of online content. This holds true for ecommerce as well –– and the following four trends explain why product video is proving to be a serious online store revenue generator.
Consumers Are Hungry For Video
There are one billion video views on Facebook per day, and 2.7 million video views on YouTube each minute. These metrics reveal that consumers are hungry for video – and they’re not just watching them for entertainment.
A survey conducted by Animoto in 2014 revealed that 96% of consumers find videos helpful when making purchasing decisions online, and a survey released this month found that four times as many consumers would rather watch a video about a product than read about it.
Video Brings Products To Life
The survey also found that 73% of all U.S. adults are more likely to purchase after watching an online video that explains a product or service. Why? Video allows you to bring your product or service to life in a way that photos and text descriptions simply can’t. With video, you can show your product in a fluid way, from every angle, to provide consumers an experience of exploring your product that’s as close as possible to the real thing.
Product videos also help to eliminate quality misunderstandings that occur due to product photos that don’t already accurately represent the product at hand. This will help lower the instances of customer chargebacks or disputes with your company –– given that “item significantly not as described” claims are a leading cause of disputes.
Video Makes You More Real And Trustworthy
More than half –– 58 percent –– of consumers also consider companies that produce video content to be more trustworthy. This is especially important for small businesses. Ecommerce is still in its infancy and, while most consumers are comfortable making purchases from well-known ecommerce brands like Amazon, many are still fearful of sharing personal details and banking information with smaller brands that aren’t household names. Video can help to solve for this.
When customers see a video of you, your product or another customer talking about their great experience using your product, it builds a sense of trust. It makes them more comfortable with you and, the more comfortable they are, the more willing they’ll be to make a purchase.
In all, creating product videos helps to elevate your brand in the customer’s eye and when it comes to modern marketing, how consumers feel about your brand is critically important to your brand’s success.
Video Helps Your Brand Get Discovered
Finally, video can help drive new customers to your business. Placing video on your site or on YouTube has proven to increase your organic search ranking, increasing the free clicks to your site from search engines. And video content is among the most shared (and reshared) form of content on social networks like Facebook, Twitter, and YouTube. In essence, product videos can help serve as a great inbound marketing channel for your brand.
Are you ready to start using video to drive traffic and conversions on your ecommerce site, but not sure where to start? Stay tuned. In the coming weeks we’ll be bringing you a series of posts on building a video strategy for your ecommerce site and creating your first product video.
Questions? Leave them in the comments below.