It’s becoming an increasingly accepted fact of marketing life that when it comes to online sales, nothing converts quite like video. It’s part of an overall shift in how consumers use their time online. We’re now much more likely to access online content via mobile devices and when we do that, content is most likely to be video.
When it comes to e-commerce conversion rates, product and other videos can dramatically increase your chances of making a sale. There is a growing body of statistics that supports the role that video now plays. For instance:
- 62% of consumers watch product review videos before making a purchase.
- 84% of consumers surveyed were convinced to buy a product or service after watching a brand’s video.
- 97% of video marketers reported that video increased their user understanding of a product or service, and
- 76% of video marketers reported that video helped them increase sales.
- Including a video on your landing page can increase conversions by more than 80%.
- 56% of consumers believe that a company should always have video content on its website.
As you can see, there are a number of clear reasons why video should feature. Consumer expectations are evolving and they now expect to see video content when they are making purchasing decisions. In fact, video is well on its way to becoming the new normal and any ecommerce business that isn’t making use of it is likely to fall behind the competition.
How does video help to increase ecommerce conversion rates?
There are a number of key reasons why ecommerce has such a positive impact on conversion rates:
- Videos drive engagement
- Video grabs the attention of consumers in a range of different ways. You’re not just reading text. You’re being stimulated visually and your hearing is being engaged too. This makes video content much more compelling for a wider range of users.
- Product videos can help increase consumer trust
- Video provides your customers with visual proof and reassurance about your product. It acts in a similar way to browsing the product range in a bricks and mortar store. People get to see what the products look like and how it works before they make a purchase. A product video is much more compelling, reassuring and ultimately effective than a static photograph.
- Videos can help answer customer questions
- Video can be used to answer frequently asked questions that customers might have about the product. Doubts and queries about a product can lead to a potential customer deciding against making a purchase or looking elsewhere. The more questions you can answer, the easier their decision to make a purchase becomes.
- Video allows you to guide the customer experience
- Video can be used to guide customers from an initial interest through to a purchase or sign-up. An initial video can meet their search term, the next can tell them a little more about what you offer, another video can go into more detail about your brand. All the time you are generating engagement, fostering interest and encouraging brand loyalty.
- Video is more readily shared
- Because video encourages greater engagement it’s also more likely to be shared. Video content sparks interest, amuses and inspires and people want to share it with their social networks. The more people see your video the more likely they are to follow your social media channels. They then, in turn, are more likely to become customers.
- By telling a story you can increase your sales
- Because video is such an immersive medium it lends itself to storytelling. Viewers can relate to the story being told through visual and auditory stimuli, becoming more involved with what they’re being told. Video storytelling goes beyond presentations which are purely about utility and which instead creates points of interest and engagement for customers.
- By guiding viewers through a relatable narrative it addresses the pain points of customers, sparks emotional connection, and then offers them a satisfying solution.
How do you create a storytelling video?
The key principle of a storytelling video is to “show, don’t tell.” You don’t have to spell out every detail and benefit of your product. Focus instead on those essential aspects that create a compelling story and which leaves your viewers wanting to find out more.
There are five key steps you should consider:
- Identify your target audience and ultimate goal
If you understand your audience and what you hope to achieve it will be much easier to move forward with your story.
If you’re passionate about your products and services you need to communicate that passion to your audience. The narrative should keep the viewer’s interest and be memorable. You may have one chance to tell them something about your brand. How will you use that opportunity?
How will your video look and sound and what creative elements will you integrate? Will it feature animation, or will it be live-action? How will you showcase your products?
While it’s relatively straightforward to create short marketing videos yourself, you are much more likely to achieve better results if you use a professional video team. They will have access to a wide range of skills and expertise as well as professional equipment. Remember, with video becoming such a vital component of ecommerce marketing strategies your videos will need to stand out.
Eight Engine take a storytelling approach to video creation
At Eight Engines we’re passionate about telling the stories that drive conversions, increase sales and help your business grow. Don’t opt for staid and conventional video production when you can create compelling narratives that engage your audience and build brand loyalty.
Video for us is never just a box-ticking exercise. Instead we take time to get to know your business, learn what inspires and motivates you and then collaboratively create content that gives you the edge.
Get in touch to find out more about what we do and how we can help your business grow.