The huge growth in e-commerce seemed to slow down in 2019, but got a huge boost again in 2020. Due to the temporary closure of physical shops, the number of online purchases in the Netherlands experienced growth of no less than 82%. With hefty peaks around press conferences, Black Friday and the days before Christmas. It’s quite easy to guess which products we bought online: DIY and home improvement products, gardening equipment, sports equipment, food, IT supplies and, last but not least, hairdressing scissors.
With such high demand, the supply of webshops keeps increasing. And with an increasing supply of webshops, consumer expectations also change. Moreover, it has become a highly competitive market. As a merchant, you really need to distinguish yourself for the purchase to take place at your shop, instead of the competitor’s.
Investing in a good online shopping experience is therefore no luxury, but a must. Hence, I would like to tell you more about the use of interactive video for e-commerce. What are shoppable videos anyway, and how can they boost your conversion? Let these 7 reasons convince you!
First of all: what are shoppable videos?
Shoppable videos can be described as a crossover between entertainment and marketing. They are interactive videos in which you can show your products, which consumers can then put in their virtual shopping cart with just a click. A shoppable video could focus on one product, but you can also show multiple products. For example, think of an advertising campaign for a new fashion collection in which various items of clothing and accessories from that collection are shown. Or a video in which an online department store can show their extensive range for the holidays: from scented candles to Christmas decorations, party wear and gifts for under the tree.
The interesting thing about shoppable video is that you can lead consumers from the video to the product page on your website. There, they can immediately view more product details, read reviews or purchase the product directly. The more attractive and interesting your video is, the more likely consumers are triggered to click through. Yes, we predict that this will become the new standard for e-commerce.
Video: Mooms interactive
Technology and an omnichannel strategy are part of today’s shopping experience
Smart use of technology is what keeps (web) retailers going in difficult times. The pandemic has contributed to more and more retailers investing in online. An omnichannel strategy, using different channels, is indispensable. Besides launching or improving a webshop, many companies have invested in developing an app, started engaging with customers through social media and promote getting in contact through chat and WhatsApp.
The pandemic has accelerated these developments. But even after the shops reopened, companies continued to invest in them. After all, it works – and consumers find all these developments very convenient.
The next step is facilitating shopping through interactive videos. Shoppable videos, in other words. Why? Here are 7 reasons.
1. Video content is big business
Videos are big business in the online marketing world: the majority of consumers respond positively to a brand, after watching a well-made video that fits the brand. Not to mention that nearly 40 billion videos are streamed globally each year and 80% of millennials use videos when making purchasing decisions. Let that sink in.
2. It boosts your conversion
Brands that choose to use shoppable video content can see an increase in conversion of up to 30%. Exposing customers to these videos as much as possible improves customer retention in the process, as it motivates them to stay longer on the website. It has already been proven that videos can significantly improve conversion rates for a brand, and shoppable videos that use interactive content features promote growth by reducing the number of steps required to complete a conversion.
3. Fewer steps in the buying process
Perhaps the biggest selling point of shoppable videos: you can tap into the consumer’s desire to buy a product right after they see it. The number of steps in the purchase process is greatly reduced. How nice and easy is it not to have to go looking for the product yourself? And we all know: the fewer obstacles there are in the purchase process, the better. Consumers simply want a quick and streamlined experience; with a good interactive video, you can offer them this.
4. It improves brand loyalty
Many retailers struggle to attract and retain customers through engagement. This can be helped by uploading video content to your website, which allows customers to see how the products you sell are used in real life and allows brands to add value. Shoppable video improves the overall customer experience, increasing brand loyalty.
5. Creativity meets commerce
With shoppable content the worlds of content and commerce are merged. Captivating stories and enticing visuals are created to attract viewers. So let your creativity run wild and create a video that, besides being shoppable, also contributes to your branding. What story do you want to tell with your video? What values do you want to convey? Instead of beautiful shop decors and displays that frame the products, the video now provides a unique and compelling shopping experience.
6. Online, but still a shopping experience
The fact that shops had to remain closed for a while during the pandemic was a disappointment for many consumers. As a retailer, you want to do everything you can to give your customers a shopping experience after all. With interactive video it is possible. Imagine a 360-degree view of a department store, you as the viewer in the middle. Where do you want to go? The men’s clothes, the outdoor gear or the escalator to the cooking department? And what exactly are you looking for? A frying pan, a boiling pan or a wok pan? A wok pan it is. Click, put it in your basket. And do you still need cooking utensils to go with your new wok pan? Add two spatulas. Now off to the food department for that delicious cooking oil and off to the checkout!
7. Collect data and analyse
The great thing about interactive video is that people click on it. That means you can collect click data as well as viewing data. You can track which products are often clicked on in your videos and what happens once people land on the product page. How long do they stay on the page? How often does a consumer decide to buy the product? Or do many people abandon the product? This gives you valuable insights into the performance of your video and your webshop. With these insights, you can then work on making improvements where necessary. This way, your shoppable video really becomes a marketing tool!
Convinced to get started with interactive e-commerce videos?
Discover how you can offer your customers
a modern shopping experience with interactive video.