If you are an ecommerce retailer who hasn't jumped on the video bandwagon yet, you may want to consider joining the Web's savviest retailers.
Recent data from Invodo's 2014 Video Commerce Benchmarks Report found that online shoppers who view videos are 1.6x more likely to make a purchase than shoppers who do not - an emerging metric called "video influence."
The study also shows that video is important for both online and multi-channel retailers. For instance, the data found that in 2014, 62 percent of ecommerce video views occurred on desktops and laptops, while 20 percent occurred on smartphones and 18 percent on tablets. The share of smartphone video views in Q4, however, was more than double any other quarter. This suggests that holiday shoppers were likely watching videos in-store for help with their purchasing decisions - proving that online videos are beneficial in driving conversions both in-stores and online.
In addition, the study reveals that video view rates were 75 percent higher on product detail pages than across websites as a whole. For example, an average of 9.6 percent of visitors to ecommerce Web pages with video clicked "play," while view rates averaged 16.8 percent on product pages. This data shows that consumers are watching videos specifically on product pages to help them make better and more informed purchasing decisions.
With video becoming a driving force behind conversions both in-stores and online, it is important for retailers to use this creative asset to their full advantage. It is not enough to feature videos on YouTube channels or in blog posts anymore. Instead, retailers should feature videos on product pages whenever possible. Fortunately, there are many ecommerce video solutions available on the Web that can help, including Invodo, Treepodia and Vzaar, to name a few.
For inspiration before sprucing up your video strategy, check out examples of three retailers below that have already pushed play on product page videos:
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Takeaway: Columbia features a brief video on its "water short" product page to highlight its UV protection technology. The video is featured under the product images and quickly gets to the point by demonstrating how the short's omni-shade sun protection technology works. By demonstrating the effectiveness of this technology, Columbia provides consumers with product details that can help them make more confident and informed purchasing decisions.
Video Length: 1:37
Takeaway: Toys "R" Us helps parents make informed decisions by not only featuring a variety of images and a video on its product page, but also by enabling consumers to upload their own product images and videos. That said, the video featured on the LeapFrog Scribble and Write product page points out the benefits of the product (it teaches children how to draw shapes and learn the alphabet), as well as shows the product being used. Plus, at the end of the video shoppers are prompted to rate the video, which is a good idea for retailers looking to gain consumer insights about their video strategy.
Video Length: 2:43
Takeaway: The Home Depot features a longer video than the aforementioned retailers on the product page of its Genesis gas grill. Although a bit longer, the video is very detailed, which is good for shoppers looking to have all the information before making a big purchase. Moreover, The Home Depot features the video in the same area as its product images, which makes it simple for consumers to click play and start watching.