In the hyper-competitive world of eCommerce, conversion rate is King and video can be a powerful friend in that battle.
But of all eCommerce website traffic, only 3-4% of visits culminate in a purchase. Meaning no matter how slick your marketing campaigns, and how much traffic they drive, the majority of those visitors will leave without ever hitting “pay”.
Complicated checkouts, shipping restrictions, and a lack of payment options account for the majority of abandoned shopping carts. Missing product information and product uncertainty are detrimental to conversion rates, too — yet both are frequently overlooked by e-retailers.
In many sectors, product photos and descriptions are not enough to convince potential purchasers. They want to visualize the product before they buy it. And that’s where video comes in.
In eCommerce, Video Converts
When researching products, 67% of consumers look for video content at least once. In fact, when a video is available on site, 60% of visitors opt to watch it before reading any of the associated text. That’s because video allows a shopper to contextualize a product. It enables them to appreciate the differences between brands and models, in a way that images and text just can’t provide.
And there’s research to back that up: 52% of shoppers agree that watching product videos gave them the confidence required to go ahead and place an order. But despite mounting evidence that video works in eCommerce settings, not that many websites are taking advantage of this medium. In our recent research report, The State of Ecommerce 2021, only 11% of our sample was hosting video on their product page. Why?
Or should we say, why not ?
Not all Video is Created Equal
Video is a tricky (and costly) proposition to get right. And just like with product photography, some videos work better than others.
A product video has to add real value to the customer experience and fulfill a specific purpose. What’s the unique selling point of your product, the one that distinguishes it from its competitors? Use a product video to showcase differentiating features or help site visitors to understand what the product helps them achieve, and the video will be more than worth the investment.
After all, research indicates that a customer who watches a product video is 144% more likely to add that product to their cart.
The State of eCommerce 2020: Which Brands are Getting Product Video Right?
True, there’s a pretty low uptake of video content in eCommerce today. But our study did reveal several examples of brands who have embraced video — and are making it work for their user base.
Here’s our 3 favorite examples:
Product videos in the beauty sector: Avon
A cosmetics powerhouse that’s suffered a tough time of late, Avon is now embracing a digital-first strategy — and thriving because of it.
Interestingly, Avon hasn’t gone all out on product video. Instead, they have opted to incorporate animated, gif-style imagery to the landing page — highlighting specific product packages, and helping them shine. By doing so, they’ve delivered a sense of dynamism and engagement to their site that photography alone couldn’t satisfy.
It’s just one of the ways AVON is looking to distinguish its offering from that of its competitors this peak shopping season.
Product videos in the Electronics sector: B&H Video
B&H Video have masterfully demonstrated the importance of selectivity when it comes to product video, implementing it only where necessary.
Products that are widely familiar to customers — the likes of iPads and cell phones — go without accompanying videos on the B&H site. Why? Because Apple’s already done this education job, so why waste resources doing it again? B&H’s budget is better spent creating interest and demand in more niche products and their associated features, benefits and differences.
Take the above example of a 3D scanner, where technical differences between brands are perhaps less clear and customers may need extra clarification over a product’s added features.
Selective use of video has allowed B&H to deliver value where it really matters: educating shoppers when they require it, not just for the sake of it.
Product videos in the Automotive sector: CARiD
CARiD has implemented product video to demonstrate the aesthetics of their custom grilles, wheels and myriad other car parts.
Their use of video has helped the brand tap into the enthusiast’s mindset, demonstrating a deep understanding of their customer base. This creates engagement and connection with both the product and the community. You want to keep clicking to watch more, the more involved you get in the shopping process!
Not only does CARiD use product videos, it utilizes video reviews for specific products, too. These user-generated content doubles down on the sense of community and belonging — building in valuable social proof to help convert on high-ticket sales.
The result? CARiD is establishing its as the go-to marketplace for custom vehicle parts.
Setting the scene for eCommerce video in 2021?
As these examples go to show, product video represents an under-utilized but potentially game-changing avenue for eCommerce businesses.
Videos have been proven to boost eCommerce conversion rates. And with most brands still to make their move, product videos could be your next competitive advantage.
How many brands in your sector are using product video in their on-site experience?