Videos Make Marketing Magic
Technology has revolutionized the way businesses interact with customers. Access to Internet-ready devices that include smart phones have fueled the trend towards online digital video advertising. Networking provider Cisco Systems expects that video technologies will be a key element of business to consumer interface. Ninety percent of all Internet traffic will have used videos to aid their buying decisions by the year 2013 according to Cisco.
Snappy video presentations have captured the attention of Internet users ever since these were embedded on websites. Retailers and brand manufacturers have resorted to multimedia solutions in a bid to sell both product and image while educating and entertaining at the same time. The gamble has paid off and some. Video viewership has turned into a key component of the shopping process.
This phenomenon was examined in detail by e-commerce consultant and marketing specialist e-tailing group in conjunction with video producer Invodo.
Without a Doubt, Consumers are Watching
When consumers encounter product videos on websites, they take the time to click and watch 60-percent of the time. While not everyone would always stop to watch all of the time, about 36-percent of those that do have seen five or more videos in the last three months.
Interest in product videos is not limited to any single category. Video viewership was significant for websites dealing in automobiles, electronics, music and videos, toys and games and computer–related products.
Consumers are Viewing and Buying
Product and image videos engage would-be buyers in the decision-making process in such a way that consumers develop confidence in the product as well as in their buying decision. Videos that effectively inform the customer about core features and values of the product are well-received with one out of three customers spending at least three minutes to view helpful how-to videos.
Over 50-percent indicate that product videos bolster confidence in the purchase and decision to buy.
In truth, a well-informed customer is the best kind. About 66 percent of consumers report that videos presenting important product information merit repeat viewings of twice more or over. Interestingly, it was noted that buyers who watched a video to aid their buying decision are 52-percent less likely to return the product for a refund.
As a bonus, 45-percent of those who watched product videos tend to spend more time browsing the website with greater interest in the company. They are also more likely to be repeat customers.
Placement of Video Links
Even with the prevalence of amateur video presentations by real customers, 53-percent of video viewers expressed a preference for professionally rendered digital video. Informational presentations that make the effort to demonstrate and show important product features through simulation are especially valued. Apparently, high quality videos are more successful in encouraging customers to click on the buy button. More than 40 percent feel that professional videos are more reliable sources.
As to what makes the video viewing experience a positive one, 60-percent point to video quality as the top consideration.
It appears that consumers are more interested in the video itself rather than on its placement on the web page but prominent placement counts. Highest viewerships were noted for videos placed on the home page with 51-percent expressing such preference. About 47-percent favor the product page for informational materials. However, retailers have successfully integrated video presentations in other areas including gift centers and customer service pages.
Logically, retailers that clearly mark the clickable link will see higher viewership. About 64-percent of consumers indicate that this is an important consideration for a better buying experience. Thus, retailers who expect to boost sales through video presentations should consider prominent positioning of links as well as multi-placement across pages and other websites.
Placement in Social Networks
Consumers are spending more and more time on social networks proving that these sites have become powerful components of an effective marketing strategy. YouTube reports that as of May 2011, more than 48 hours of video are uploaded every minute. Likewise, Facebook reports similar numbers for both brand-oriented and product-centered presentations.
In terms of product video viewership, YouTube garnered 47-percent of the vote against 39-percent for Facebook.
Impact of Portable Devices
It is apparent that quality product videos are effective marketing tools in that they inform, entertain and round off the buying process. Videos will continue to play an important role in marketing with the proliferation of data-ready portable devices that include smartphones and tablets. Over 60-percent of smartphone users indicate that they have used the device to view product videos. The numbers are similar for tablet owners but it must be noted that tablets have greater potential when it comes to delivering product videos.
In any case, access to product videos at point-of-sale locations will certainly enhance the shopping experience…
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