October 10 2011
It’s a fact, video sells!
Video statistics continue to show that web video is a great way to sell your product or services like never before. Here, we go through some facts and figures to show you why you should have video on your website. If you’re not adding video to your e-commerce, your competition is.
Engage your customers…
There is no doubt that video is now the best way to engage and interact with your customers building long-term relationships and customer loyalty. Web videos on your website increases visitor time on page statistics. Compared to images, charts and graphics, web video engages your visitors and builds your brand like nothing else.
Studies have shown that web video can deliver a higher ROI compared to traditional paid advertising techniques such as PPC (Pay-per-click) or banner ads. According to Eyeblaster, video increased dwell rate time on ads by 20% and dwell time by 100%. Web video also increases brand awareness and brand loyalty.
Build customer loyalty…
As the online retail market develops, acquiring new customers is becoming tougher due to competition and more complex customer behavior. So repeat business and monetization is key for the online retailer to survive.
Web videos build brand loyalty, trust and engagement. According to a recent study by IMRG Cap gemini e-Retail, 13% of shoppers found video useful when purchasing products and 57% of this group act as brand advocates, actively informing others of the products and web sites they like.
Compared to images or text, video can be the best way to describe and inform your customers about your product before purchase.
For example your video shows how big your bag is when your presenter demonstrates putting the bag on over her shoulder compared to static images. Your customers get a much better idea of the size, colour, depth of the bag and the length of the straps.
The more your customer is informed about your products, the lower the number of likely returns or customer service calls to your call centre. Some retailers have reported a reduction of returns by 25% as a result of adding web videos. A minute of video is worth 1.8 million words according to Dr. James McQuivey of Forrester Research
Increased conversion rates…
Conversion rate is simply the calculation of the number of visitors to a web page on your site compared to how many actually completed a goal on that page.
For example, how many visitors purchased your new black dress on promotion last week? Your stats show that 1000 visitors visited your promotion page but only 100 visitors clicked the add to cart button on the page. So your conversion rate was (100 / 1000) * 100 = 10%. Not bad.
Statistics have shown that web videos can increase your conversion rate between 12%-115%. On average retailers have reported 30% increase. However, some retailers have reported 400%.
Beat your competition…
Web video for e-commerce is still in its infancy as retailers slowly begin to realize the full potential and cost effectiveness of video. By adding video to your website you are already getting ahead of your competition.
Changing consumer behavior
According to ComScore 80.1% of the UK Internet users watched video online in 2009. As online video begins to replace traditional TV for watching video and online video becomes more readily available your visitors will soon expect to watch video on your website. Retailers may begin to lose customers to their competitors because of a lack of video content demonstrating their products.
Go 2 Productions…
In the past 5 years, Go 2 has successfully designed and created hundreds of engaging web videos for a multitude of industries ranging from an average of 15 seconds to 2-3 minutes (recommended max). Whether it’s motion graphics, 3D animation or something completely different, the quality of our work speaks for itself. Click
to visit our portfolio to see for yourself and call us on 1 866 408 5844 to discuss how we can help concept a web video or series of videos for your website.