Why Is Video the Soul Of Ecommerce in 2022
Videos are becoming essential for generating a customer response, with consumers using videos to perform product research before buying the product or service
“If Content is King; Video is the Emperor”
It is believed that an average one-minute video is worth 1.8 million words (That’s a lot of words if you ask us). In addition to this, our brains can process visuals faster than text, about 60,000 times faster. There’s a reason why almost 90% of the total information sent to our brain is done so visually. Humans are visual creatures. Period.
Do you use videos for business or still need some convincing? Then we suggest you keep reading to find out why this is the right time to implement video solutions and unlock the true potential of your business.
The Rise of E-commerce Giant
E-Commerce worldwide has shown immense growth in the past few years, and the Indian E-commerce sector is expected to be worth $74.8 billion by the end of 2022. This massive growth has been partly due to the historic rise in the number of people with access to the internet and partly due to innovations in the E-commerce sector bridging the gap between customers and a fulfilling online shopping experience.
Further, India has an estimated 622 million active internet users, and by the end of 2025, this number is expected to surpass the 900 million mark. The recent rise in digital literacy has led to an influx of investment in E-commerce firms, levelling the market for new players to set up their base while churning out innovative patterns to disrupt old functioning.
Trends driving the E-commerce
- Consumers prefer shopping on mobile phones and on the move
- Videos play a critical role in generating customer response
Videos have fast become the go-to channel that customers trust for connecting with brands they shop from. From performing product research to understanding the company before making an investment decision, videos add a human touch to a brand.
Its science, humans trust humans, and a brand that shows more of its people coming forward and talking to their customers, the higher the emotional connection with their audience.
Traditionally, the major advantage brick-and-mortar businesses had over online stores was the shopping experience and the human touch. However, this is fast changing as online shops now, because of videos, are capable of replicating the offline shopping experience and creating a whole new array of futuristic experiences.
Types of Videos to Consider for Your Business
- Product videos
Product videos help you break through clutter while ensuring your product spark interest and connect your brand with new audiences.
- Animation Video
Animation Videos lets your business break down complex marketing messages into easily understandable videos and use them across websites, social media platforms and more.
- Testimonial Videos
Professional client testimonial videos capture the important aspects of your product or service for your future customers making them invest their trust in your brand.
- Explainer Videos
Explainer videos are a great way to explain your product, service, or business idea to your audience using eye-catchy illustrations and animations.
- Live Videos
Live broadcasting to your audience over social media platforms is a common way of providing a virtual shopping experience for online customers. The next big change in the industry is the use of live interactive sessions to bring the live experience of store shopping to viewers from the comfort of their couches.
Videos are leading the way in terms of stimulating sales engagement and are expected to occupy about 15% of the global e-commerce market share by 2025.
Role of Videos in Your eCommerce Journey
A traditional product page consists of the product’s general descriptions, such as the product’s name, images, features and ratings and reviews. However, the simple addition of a product video to your page can do wonders to your sales numbers.
In the right words, you can’t be missing out on videos for your business website or product page as they:
- Increase the conversion rates via the provision of an enhanced digital customer experience
- Increase AOV (average order value) per customer, to generate higher revenues for retailers
- Attract new customers by offering useful content that helps answer their queries
Some Interesting Takes on Video Marketing Strategy
Apple has been one of the forerunners in the field of innovative product introduction for as long as we can jog our memory. The multinational technology giant has posted sales of $97.2 billion in the first quarter of 2022 alone. At least half of the credit goes to their unprecedented marketing strategy.
Setting their balanced product features and innovative technology aside, Apple has mastered its product videos in order to attract the right audience time and again. Talking of their new launch iPhone 13, it is marketed through a video that takes the experience to a whole new level. It not only highlights all the features of the phone but also highly influences the decision of the buyer.
Videos – The Secret to Selling your product like Hotcakes
Pouring long lines of content can quickly turn your website into a long piece of monotonous descriptions. On the other hand, images are a great way to showcase your desired subject, but they don’t convey enough information.
Therefore, when it comes down to ensuring that customers clearly understand your product or service, and are encouraged to make the purchase; videos are the best option. Here’s how investing in videos could be the best option for your business:
- Google loves videos
Remember the days when the digital space was overflowing with ALS Ice Bucket Challenge, Old Spice’s “The Man your Man could smell like” and Hyundai's X BTS campaign video. Campaigns like these proved that creating relatable videos that bring the human story behind their offerings can’t even stop Google from ranking your business on the first page.
- Videos are easy to share
Research has shown that people are twice as likely to share videos among their friend circle than compared to any other piece of content.
- Videos convert viewers to buyers
84% of people who participated in a survey confirmed being convinced to buy a product or service from a brand after watching the concerned brand’s video. The reason behind this is the ability of videos to make viewers see the product in action and visualize themselves using this product, building excitement and thus boosting the value of the product.
Remember, customers need to feel good about their interactions with your business, or else they won’t stick around long enough to make a purchase. This is especially true for digital brands where customers judge your experience on the basis of website experience, availability of product information, and the consistency of brand communication.
Here’s where videos can create an image for your brand amongst potential customers, earn their trust, and kickstart a long-lasting relationship with customers. All it takes is one good video to gain traffic, increase awareness and sky-rocket your sales.