According to statistics, sites that leverage video can boost conversion rates by 80%. Thanks to higher levels of engagement and conversion, video also yields a high ROI.
Currently, 51% of marketing professionals name video as the content type with the best ROI.
One of the reasons for this is that video is a strong traffic driver. It also promotes brand awareness and consumer trust.
From the above video marketing stats, it may be tempting to think this is as good it can get. But this is not the case.
Shoppable video promises even higher levels of engagement, conversions, and ROI.
Thanks to its benefits, shoppable video is likely to feature heavily in the future of e-commerce. As it stands, however, only a certain percentage of brands are leveraging this powerful marketing technique.
If you want to position yourself for online success going into 2021 and beyond, you must know about the applications and benefits of shoppable video.
Ready to learn how you can stay ahead of the curve and future proof your brand with shoppable video?
If the answer’s yes, don’t go anywhere. Because we’re about to share everything you need to know about interactive shoppable video. As well as how marketers and brands can use it to boost conversions and customer engagement.
What Is Shoppable Video?
Before we dive into its benefits and applications, let’s take a look at what shoppable video is.
Online shoppable video can take on several different forms. Examples of shoppable video include Estee Lauder’s “best nighttime skincare routine,” the Levi shoppable video, and more.
The basic tenant is that shoppable video features interactive, in-video shopping features. Instead of having to click a link below the video or a banner link (such as those available on YouTube), viewers can click on interactive elements within the video.
In some cases, these elements may take them to the product or a landing page. However, depending on the platform, these elements can also integrate directly with cart features.
The result? A highly seamless shopping experience.
Shoppable video has been around for some time. However, it is now becoming more refined. Consumer readiness is at an all-time high, as buyers increasingly expect integrated and frictionless shopping experiences.
Thanks to this, shoppable online video is on the rise. Instagram and Facebook shoppable video is skyrocketing. Reports are stating that 40% of marketers are now leveraging shoppable video ads.
The Value of Shoppable Video
There’s no denying interactive video marketing is taking off, and will likely play a large role in the future of e-commerce.
The reason behind this lies in its value both to brands and consumers. Shoppable video facilitates the consumer journey. At the same time, it gives brands an engaging way to showcase products and interact with their audiences.
Here are some of the ways interactive shoppable video serves both brands and shoppers.
One of the foremost benefits of shoppable video is it reduces friction in the buyer journey. In the past, if consumers wished to shop products from a video, they would need to head to the description, and find the text link. Depending on where this led them, they’d then need to further track down the items they wanted.
Each of these steps increases the amount of friction the consumer faces. Not only are they distracted from the video, but they might also be distracted from finding the items once they have finished watching. Going through each of these steps to find, view, and buy showcased products is also time-consuming.
Shoppable video reduces the number of steps consumers have to take before they make a purchase. This frictionless buyer journey is what consumers are coming to expect. If they are forced to jump through too many hoops, there’s a high chance they’ll abandon the process.
Besides facilitating a frictionless buyer journey, online shoppable video also enhances the viewing process. Instead of disrupting viewing, shoppable video allows viewers to multitask between watching the video and finding out more about the products.
For example, a shoppable video with interactive icons placed next to shoppable products can display additional information, such as prices, when hovered over. Hovering over these interactive shopping elements can also trigger automatic video pausing, giving the viewer a chance to absorb the product information.
Serves the Viewer
According to research, 48% of consumers wish to watch videos that are related to what they’re interested in. In other words, viewers don’t only want to watch pure entertainment-based content. They also want to use watch video that taps into their interests.
For instance, someone who is interested in interior design will want to watch videos on this topic. If these videos are shoppable this serves the viewer even further. The viewer watching a video on interior design would rather be supplied with an easy way to shop items displayed in the video than have to search for them all over the internet.
To look at another example, let’s take a viewer who is interested in fashion and style. They are looking for additional pieces to add to their wardrobe and would like to see those pieces on a moving model, not just in a static image. In this case, being able to view pieces in video format, and easily click on them or add to cart during the viewing process will streamline their experience and serve their needs.
Increased Entertainment Value
As online shopping and entertainment merge, brands need to pivot to meet this new demand.
Shopping as entertainment is not a new concept. In offline settings consumers often treat shopping as a form of entertainment, browsing not for a pure need, but for entertainment and fun.
Online shopping has taken a similar turn in some ways. However, it is now driven by the merging of entertaining content and the opportunity to discover and buy new products.
Influencer marketing is a prime example of this, where viewers want to be entertained by their favorite influencer. At the same time, they are interested to know about the products the influencer uses and loves. What they are not interested in is having products blatantly and crudely pitched to them.
In response, brands and creators are blurring the lines between content and commerce. Shoppable video takes this one step further by allowing brands to seamlessly incorporate shopping opportunities into entertaining video content.
More Opportunities for Personalization
Another benefit to shoppable video is it provides a prime opportunity for brands to offer interactive content and personalization to their customers.
According to research, 80% of consumers are more likely to purchase from a brand that provides a personalized experience. Interactive content is an ideal way to offer consumers personalized experiences because it gives them control.
Shoppable video is a form of interactive content that allows viewers to choose which products they want to find out more about. Instead of having each one punted at them—they can decide what parts of the video they wish to interact with and which products they want to find out more about.
How Marketers Can Use Shoppable Video
Now that we have run through some of the benefits of shoppable video, let’s take a look at some of the specific ways marketers can utilize it.
Shoppable video is ideal for onsite use, for third party retail platforms, social media, influencer content, email marketing, paid ads, and more.
For Onsite Video
One of the best ways to use shoppable video is onsite. The reason for this is that on-site shoppable video provides one of the most friction-less buying experiences.
If you incorporate shoppable video onto your brand’s site, you have the option of integrating your cart feature. This allows shoppers to simultaneously watch your content, add to cart, and even check out.
Because of this functionality, it’s very likely that we will see most major e-commerce sites such as Amazon and eBay incorporating shoppable video into their framework. Currently, Amazon has already launched its live video facility that has some shoppable capabilities.
For Retail Platforms
Although large e-commerce platforms aren’t all using online shoppable video, this doesn’t mean that you can’t if you sell through one of these retailers.
With a service like Spott’s solutions, you can create your own shoppable videos which you can then upload to platforms like Amazon and eBay to stay one step ahead of your competitors.
For Social Content
Shoppable video is, of course, prime material for social content, especially as Facebook and Instagram are beginning to embrace it.
Shoppable social content is a prime way to reach new audiences, expand brand awareness, and directly drive sales.
As mentioned above, shoptainment is becoming a go-to format for creators and brands alike. Shoppable video is tailor-made for combining entertainment and shopping capabilities.
In Conjunction With Influencers
Influencer marketing is another area where brands can leverage shoppable video. Collaborations with influencers are becoming the number one way to generate sales and brand trust. Adding in shopping features to influencer collaboration videos eradicates friction in the shopping process and allows viewers easy access to promoted products.
In Email Marketing
According to stats, incorporating video into email content can increase click-through rates by up to 300%. And that’s not all.
The mere mention of the word “video in email subject lines can boost open rates by 19%.
From these numbers, it’s easy to see that you need to be including video in your email marketing materials. However, if you want to further supercharge click-through rates, you can also test out shoppable videos in your email marketing campaigns.
Shoppable in-email video content gives readers a chance to choose which items they wish to click through to and creates a golden opportunity to provide them with interactive content.
For Paid Ads
Last but not least, paid ads are another way marketers can leverage shoppable video. With shoppable video for paid ads, you can increase the chance of click-throughs by giving viewers the choice of which product they wish to be directed to.
Tips for Leveraging Shoppable Video
If you’re as excited as we are about shoppable video, then we imagine that you want to start implementing it in your campaigns as soon as possible. However, before you do, here are some tips and tricks to keep in mind:
- Always use top-notch shoppable video technology
- Monitor your metrics
- Test out different formats
- Inform your audience that the video is shoppable
- Repurpose existing content
Because shoppable video is relatively new, there can be some issues with the technology. Glitchy shoppable videos are not going to do your brand any favors. Therefore, make sure you use tried-and-tested shoppable video technology for your content.
You’ll also want to monitor your metrics and do A/B testing. There aren’t all that many case studies available for shoppable video yet, as it’s still a cutting-edge marketing method. Therefore, collect your own data and use it to improve your shoppable video strategies.
Lastly, if you think your audience isn’t very familiar with shoppable video, consider informing them that videos are shoppable using on-screen text.
The Future of Ecommerce Video Is Shoppable
Do you want to stay ahead of the online marketing game and plan for the future? If so, it’s essential that you start experimenting with shoppable video for your brand.
However, before you do, you need to team up with a reliable technology service so you can create standout shoppable content.
Here at Spott, we offer brands and creators a plug-and-play tool for creating shoppable video and images. If you’d like to see how this works, schedule a demo today.