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October 21, 2009

Satisfying Video-hungry Shoppers & Sales Goals

In this post: Jaimy shares interesting online video findings as they apply to Web retailing …
Jaimy SzymanskiI recently read a worthwhile whitepaper from Adobe that covered how online video is changing the online shopping landscape. Rather than making all of you read it (although, you can if you want to – it’s here – you do have to register to get it though), I thought I’d sum up the best nuts and bolts for you in a blog post to quickly digest and apply to your own clients or organizations.
This will be quick-and-dirty – Here goes!

… Video is addictive to detail-hungry shoppers. “Videos can be used to surpass the in-store experience by providing more detailed product information both visually and narratively than the typical sales associate.” Furthermore, video can help justify the value of expensive products through providing additional detail on its features & benefits.

… The number of individuals who watch retail videos has grown by 40% over the last year – This figure represents 23 percent of all unique online shoppers.

… 82 percent of all online video is Flash-based. Flash Player is installed on more than 98% of desktops on all platforms. (This part can be taken with a grain of salt – Since it is Adobe-sponsored, after all.)

… Videos help in closing the gap between the touch-and-feel store experience and the online shopping experience.

… It is recommended to keep things simple – Under two minutes in length. (As a side note, I’ve read in other publications though that up to four minutes is acceptable.)

… (One of my favorite points): “It is less important to strive for perfection in video production and more important to produce as many videos as possible.”

… Try mixing merchandising with entertainment to transform the act of online shopping into more of an “event” vs. a task. Blend culture and lifestyle with products and services.

… Take advantage of your brand, product and service evangelists – These people are who will take the time to submit their own online videos for your use, post blogs and participate in community discussions. These are your brand advocates who will recommend your products.

… In 2008, 67.2 percent of all Internet users watched online video advertising in some form at least once per month.

… Another interesting statistic – Retail video viewers = 23 percent of total visitors to retail Websites in October 2008, up from 17 percent the year before.

… Benefits to online video include lower number of abandoned shopping carts, reduced return rates and higher sales volume per order and overall.

… The paper itself had a lot of great examples and case studies that may be worth viewing, including Sub-zero Wolf refrigerators, ShopNBC, Cloudveil mountain apparel, QVC, JCPenney and many more. The end of the whitepaper also had some case studies specifically related to Adobe’s Scene7 video editing software.

I’d love to hear any other interesting online video tidbits you all have come across. Sometimes, it’s much easier to have an arsenal of information all in one place, rather than having to search the Web for it over and over again!