HOW SHOPPABLE VIDEO UNLOCKS EXTRA REVENUE
Shoppable video goes beyond clickable hot spot technology...
Now, shoppable videos are not just tagged videos you can shop from and make direct purchases via call-to-actions. They can be adapted to suit your customer and your product. This could be by taking your viewer on a journey via branching, hot-spotted product galleries, 360 degree virtual showrooms, livestream shopping and more.
All of the hottest brands are jumping on the shoppable video trend, creating outstanding content that not only wows, but generates conversion. Gradually, marketers have realised the positive impact of passing over the control to the consumer and how this translates into powerful metrics.
According to Net Solutions, merchants using shoppable video see an increase of 30% in conversion rates, and in the first week of Ted Baker’s shoppable video units being live on its site, it tracked $70,000 worth of clothing sales through the video.
Watch Ted Baker's shoppable winter campaign here.
Shoppable video allows the viewer to become an active participant as they click on what interests them.
Allowing the consumer to take control is a trend that has emerged over the past years. With streaming platforms like Netflix bringing out decide your destiny episodes of Black Mirror and Bear Grylls You vs Wild, we have become more accustomed to experiencing video interactivity. These programmes allowed customers to click the screen and make choices to manipulate the outcomes. This provides a bespoke, memorable and personal experience that grips the viewer.
The adaptive, customisable possibilities of digital technology allows brands to target their specific audiences and provide the optimum shopping experience. The metrics produced by these choices allow marketers to adapt their strategies to show even more relevant products and boost conversion rates.
As a result, shoppable video can no longer be defined by a single user experience. Livestream shopping experiences bring brands and consumers together virtually to create a real-time, organic experience. The ability to reach customers in their homes when bricks and mortar stores are closed is a powerful sales tool. The realistic, personal experience livestream shopping provides gives consumers a clear view of products being demonstrated, giving them the confidence to make a purchase. The chat rooms create a community for shoppers as they speak to each other and ask hosts questions. Here, livestream shopping encourages impulse buying in real-time as if the customer was physically in a store.
So what does the future look like for video interactivity?
We live in a rapidly technological advancing world where online consumer habits are evolving constantly. As a result, it would be natural for shoppable video and interactive formats to grow exponentially over time. With formats like virtual reality making their way into trade shows, mobile apps, YouTube ads and more it is likely that this will be one of the most digitally advanced tools for video interactivity. Consumers are fascinated by technology that transports them to a different reality while educating them about a brand product. They might even be able to customise their environment, putting their brand experience in their hands. By giving control to the consumer with interactive video, brands can provide a bespoke experience that generates customer focussed conversions.
For more information on how to create your shoppable video visit Smartzer here.