HOW THE ON-DEMAND ECONOMY WILL INCREASE THE USE OF SHOPPABLE VIDEO
In 2021, consumers have access to content online at an on-demand capacity more than ever before. This rapid increase of on-demand, shoppable content has only accelerated thanks to the global pandemic. Now that brands and customers have trialled immersive, shoppable formats of engaging content, they are not willing to let this way of life go.
Shoppable formats encourage instant purchases. The clickable, customisable hotspots make the video content marketing strategy completely engaging, informative and monetised. Brands add product links to an interactive overlay using product images, text, URL's, Product Feeds and Product API's. Information can also be added manually. These videos can be integrated into e-commerce landing pages and shared across social media. Viewers will then be able to click, swipe, zoom and drag through the video to find out product details such as colourways, pricing, sizing, composition and more. Call to actions encourage consumers to click through to brand e-commerce, sign up to a mailing list, book a test drive or even make a purchase within the video and add to their basket.
Below is an example of Smartzer's partnership with Arnotts to create a shoppable cooking video on their e-commerce!
Shoppable videos encourage on-demand purchasing, boosting conversion rates by almost 400%! With internet video traffic accounting for 69% of global consumer traffic, marketers have adapted to the format to take advantage of increased online purchasing habits as a result of store closures.
Even after the pandemic, it seems that this shoppable e-commerce trend will stick around. The digital developments have proven to be extremely useful for monetising video content marketing and connecting brands and customers in the comfort of their homes. Although life may be back to normal by next January, many have discussed the cold, wet weather encouraging an at home lifestyle. With a variety of at home shopping experiences on offer, more people will be looking for on-demand content to avoid the cold hard winter.
At The Drum’s Digital Transformation Festival 2021, Nicola Spooner the Vice President for strategy at Unruly said "Shoppable content opens the doors to impulse purchasing". It puts products within the context of the video right under the customers nose. She continued, '“If you are watching content around cooking and there is the contextual placement for Jameson’s cocktails or Viejo wines, I – as a consumer – could be inspired and take action immediately.” Indeed, this is reflected through the high conversion rates of shoppable video across social media and real-time livestream shopping experiences. The 'see now, buy now' ethos of streaming commerce has helped brands globally boost conversion rates, connecting them with customers in a social shoppable video experience.
With engaging, immersive shoppable formats like livestream shopping, brands can reach customers at home in real-time, bringing the benefits of offline shopping, online. By using interactive video platforms businesses can upload their product links before the stream and then imbed a link into their e-commerce to be shared with customers across social media. Passive viewers are turned into active participants by purchasing products demonstrated in the stream and conversing in a chat room. This encourages impulse purchasing as customers are given the confidence to buy online.
Ultimately, shoppable video will allow marketers to build streaming commerce into every stage of their video content marketing strategy rather than simply viewing it as an awareness boosting tool.
To learn more about shoppable video and how to create your own, visit Smartzer's website here!