What can ecommerce product videos do for your online store and why do you need them? There are a number of ways that adding videos of your products benefits your business. We’ll deliver seven of them here so you can make an educated marketing decision.
Search Engine Saturation
Want to know an inside secret that helps you get your products showcased on the first page of Google with relative ease time and time again? Who doesn’t, right? Well according to Search Engine Land, videos account for 14% of all results on the internet.
But if your competitor is beating you to the punch, then all that means is that you are missing out on a trove of opportunities that can drive saturation and exposure to your brand. In the near future, Google’s forthcoming algorithms look to be playing into videos even more. Translation: there’s never been a better time to get started than now.
Drastically Improved Conversion
Conversion rates are the most trying thing for any online store. Current cart abandonment rates are at an all-time high, with about 67% of shoppers leaving the cart before they checkout. You’ve done all of this hard work to get the customer to your online store, so don’t leave them hanging by failing to add video that helps secure the deal.
But by just how much can ecommerce product videos help improve conversions? According to Animoto, 73% of visitors who watch your product videos are likelier to buy the products from your store. Naturally, you’ll need to have competitive pricing, good shipping rates and a fair return policy in order, too. But why not put things even more in your favor with a good video to showcase as well?
Reducing Showrooming/Webrooming
The statistics show that webrooming and showrooming affects conversions exponentially. That’s because all you see is another bounced user or cart abandoner. But what really may be happening is that a person found your product online and then either found it at another online store or at a brick and mortar store.
The good news is that you can decrease these rates by adding quality ecommerce product videos. According to Demoup, a product video has the potential to decrease showrooming by as much as 46%, which means that you are keeping visitors at your site longer, which helps improve your conversion rate.
Better Product Descriptions
Can text really describe your product as well as you wish that it could? The truth is that this is the reason why we add images to our product descriptions. There’s that old timeless saying: A picture is worth a thousand words. And certainly, adding multiple images, zoom options and so forth does wonders. But what if you could add video?
In this regard, videos are worth, easily, a million words. According to Multichannel Merchant, 71% of consumers agree that a video helps you better understand a product that’s being offered. Let’s go with the majority here and assume that product videos are really going to up the ante for any product descriptions they accompany.
Improved Brand Trust
Product videos can also help you improve the trust of your brand in the eyes of the consumer. This makes a lot of sense when you think about it because videos offer so much more than a two-dimensional look at your products. But what do the numbers say in regard to this?
Video marketing company Animoto concludes that 58% of shoppers trust brands that offer product videos more than other brands that don’t. When trying to earn conversions from scrupulous shoppers – who have plenty of options to click away to competing stores – trust is everything. It’s nice to know that earning this trust is easier with the addition of videos.
Social Sharing & Signals
Looking to improve your site’s SEO and online rankings? Social signals are part of the key here. And, you guessed it, by adding ecommerce product videos to the mix, you automatically gain valuable social signals that are factored into your rankings by the current Google algorithms.
This is highlighted in a related Search Engine Journal publication that emphasizes the importance of using videos and social signals to gain traction with your SEO. In it, they describe eight ways that videos help improve your SEO rankings. Each time that your videos are watched, shared, commented on and liked, you gain social signals that help your rankings.
Reduced Return Rate
Videos also help you reduce return rates. That’s because customers are more confident about their purchase after watching a video. Instead of just seeing two-dimensional photographs, they actually gain far more insight about the product they are considering purchasing.
A good case study of this in motion is found with Tubular Insights report about an online diamond retailer that was able to reduce returns on jewelry by 60% by featuring product videos. The primary reason why returns were reduced was because customers felt more confident in their purchase after watching the product videos.
Ecommerce Product Video Statistics
We leave you with this detailed infographic that entails the most current and prevalent ecommerce product video statistics. Use these facts and the information that you have found here today to improve your online store and generate more conversions.
