Internet Retailer reports that users are more likely to make a purchase, and a lot less likely to make a return, if they watch a product video on a retail website. That suggests the use of online video can drive conversions while reducing the cost of processing returns. The good news is any ecommerce site can use product videos to improve its bottom line.
Following are a few stats that highlight the many reasons for using online video.
- Online video is the fastest growing ad format in 2012 with nearly 55% growth. (eMarketer, February 2012)
- Visitors who view product videos are 85% more likely to buy than visitors who do not. (Internet Retailer, April 2010)
- 34% of apparel shoppers are more likely to purchase after viewing an online video ad, versus 16% after watching an ad on TV. (ReelSEO, August 2012)
- Product videos play a key role in consumer purchase decisions, producing a 9x increase in retail video views at the start of the 2011 holiday season. (MediaPost, January 2012)
- Video is a driver of consumer confidence. Consumers are willing to watch videos 60% of the time they are found, and 52% of consumers report that they are less likely to return a product after viewing a video. (Website Magazine, 2012)
- Retail site visitors who view video stay two minutes longer on average and are 64% more likely to purchase than other site visitors. (Comscore, August 2010)
- Consumer video usage on retail and brand sites hit record numbers on those sites during the 2011 holiday season. Cyber Monday video views across the Invodo network were 897% higher than 2010, and Black Friday video views showed a 337% increase. (Website Magazine, December 2011)
Product videos can help shoppers make purchase decisions by communicating added value such as fast shipping and excellent customer service. Videos and their descriptive text on your site can make your products more visible in the SERPs. An added bonus is that video is ideal content to promote on social media sites.
Hosting Ecommerce Videos: YouTube is a good choice for video hosting if you don’t have a lot of link equity. Those with strong link equity may want to host videos on their own site. When hosting videos on YouTube, promote them through social media sites and they’ll appear in the blended search results on Google and Bing, in addition to being available for searches conducted directly on YouTube.
Below are suggestions for creating various types of product videos to host on YouTube and display on your own site.
Company Videos: Promote your brand with a company overview video featuring your staff and facility to put a human face on your company and make shoppers feel comfortable buying from your site.
Testimonial Videos: Nothing beats the power of peer recommendations. Solicit testimonials from your best customers and display them on your site.
Informational Videos: Educate shoppers by explaining what to look for in products such as cameras, computers or TVs. This can create trust and good will, encouraging prospects to buy from your site. Including a transcript of the video will help your SERP rankings.
How-To Videos: Provide advice on how to use the products you sell. This type of informational video can rank well in search results for questions like “How do I upload pictures from my camera to the Internet?” Searchers may find your video in search results, click, and learn about your offerings.
Product Review Videos: Create your own reviews of various products, indicating the pros and cons. This not only helps credibility but also demonstrates your expertise.
User-Generated Videos: Ask shoppers to submit their own story about buying a product, uploading their videos to your YouTube channel. Use the videos that show great customer service, delivery, shipping, etc., on your ecommerce site where visitors will view them and be impressed.
Manufacturer Product Videos: Some manufacturers make product videos available to their resellers for use on their sites. Use this option only if you can’t make your own videos.
In conclusion, video content goes a long way toward helping customers make a buying decision. Additionally, you can get more visibility in the SERPs with video content. The use of online video can drive conversions while reducing product returns. Since the cost of creating product videos can be affordable, there is no reason why ecommerce sites can’t use video content to improve their bottom line.