Shoppable Video: The future of ecommerce
Video has always been a powerful tool for brands to engage customers and drive sales. It offers a dynamic and immersive way to showcase products and connect with potential buyers, as well as the opportunities for creativity and storytelling that ultimately lead to conversion.
The power of video on conversion.
Statistics reveal the profound impact video has on ecommerce conversion rates. According to research, including a video on a product page can increase conversion rates by up to 80%. Additionally, 64% of consumers are more likely to make a purchase after watching a video about a product. These figures underscore the importance of integrating video into the ecommerce experience. These statistics show the power of video when it comes to conversion in shopping, but they’re not the only ones. Video should be a critical focus for marketing teams in brands, as seen by some of the following findings:
- 72% of customers prefer learning about a product or service through video. (Source: HubSpot)
- Social media videos generate 1,200% more shares than text and image content combined. (Source: G2)
- 93% of businesses reported gaining a new customer as a direct result of a video on social media. (Source: Animoto)
- Mobile video consumption rises by 100% every year. (Source: Insivia)
- 80% of users can recall a video ad they have seen in the past 30 days. (Source: Single Grain)
- Emails that include a video have a 96% higher click-through rate than those without. (Source: HubSpot)
The journey of video content from ads to shoppable video.
Initially, videos were used as external marketing tools on social channels, traditional advertising and content platforms, to attract and engage potential customers. Gradually, they found their way into the core of the commerce experience, appearing on product display pages and landing pages to provide an interactive and informative shopping experience.
Now, “shoppable videos” have evolved even further, with video taking over the final step in the commerce funnel as well, replacing even product display pages. The source of this innovative concept is no doubt the ‘live shopping’ trend, which originally gained traction primarily in Asian markets and is now being aggressively tested by brands, marketplaces, and commerce hubs in the West. However, recent studies indicate that asynchronous video shopping, where customers can watch and shop at their convenience, is proving to be more influential in driving conversions.
Enter Refer, fast and powerful shoppable video testing.
As brands recognize the potential of shoppable videos, discovering how to use them effectively has become a critical task. Maximizing the conversion power of shoppable videos requires careful planning, attention to user experience, and seamless integration with the ecommerce platform.
To help brands harness the power of shoppable video and improve their conversion rates, we’ve launched Refer. Refer enables seamless integration of video content and shopping experiences, providing an effective means to engage customers, drive conversions, and enhance the overall shopping journey.