Why Shoppable Video is Right for Your Brand
It's 2018. And we can finally say it without a shadow of a doubt: video is the most powerful form of content there is. In the past two years, entire platforms dedicated to video—think Snapchat, Instagram stories, Facebook Live for instance - have disrupted the way we communicate.
And video hasn't even reached it's full potential yet. It continues to be an increasingly powerful instrument for marketing. In fact, 87% of fashion brands that posted videos in Q4 2015 saw transaction rates 1.6x higher than the average post during the same period.
If a picture is worth a thousand words, then surely, a video must be worth a million! And now, it very well could be with the introduction of a concept called “shoppable video.”
What is Shoppable Video?
A shoppable video is any type of video content a brand displays on their website or social media that can take consumers directly to a purchasing page for the product. Typically, the video will display a variety of products that, when clicked, divert the user to another page that contains information like:
- · Product Details
- · Reviews
- · eCommerce button
- · Contact information
Posting a shoppable video is a means of creating just one digital touch point for consumers who are ready to purchase. 76% of luxury purchases happen during a shopper’s initial consideration. It’s up to brands to capitalize on every digital touch point available.
Despite how easy this concept seems, adoption rates have been very low. Although 95% of brands create video content that lives on their site, only 16% are producing shoppable video. The scarcity of these types of videos is caused by several things: brands being unaware of the existence of shoppable videos, companies being unsure of how to even start using this type of video content, and an aversion to connecting branded content to the sales funnel.
One thing is for certain, however. Shoppable videos aren’t going away as consumers demand more and more convenience with their purchasing power.
Who is Doing It Right?
If you are unsure of how to incorporate a shoppable video into your digital marketing strategies, there are a few brands out there that have been doing it right. There’s no better way to get over your fear of producing this kind of content, than to check out the videos of people that know what they’re doing. The following are some of the best:
The popular handbag designer has created a digital storefront of their new web series #MissAdventure. Taking advantage of YouTube’s TrueView functionality, consumers can watch a series of videos starring some of their favorite celebrities and shop along the whole time.
The online retail company has partnered with Google and Stink Studios to feature 15-second pre-roll ads that showcase “The World’s Most Exclusive Collection” of shoppable products that are only available for the length of the video. Once the video is over, the customer will no longer be able to find the product on the site. Genius!
The Future of Shoppable Video
Ultimately, content must drive conversions, and forward-thinking brands are aligning the purchasing process with shoppable videos.
Shoppable video startup Cinematique has received $1.4 million in funding this year and they are using it to transform brands’ digital marketing strategies left and right. They pride themselves on enabling “touchable video” and revolutionizing the way in which consumers utilize e-commerce.
Blurring the lines between content and commerce will be taken a step further as augmented and virtual reality are the next phase of digital marketing. In fact, it’s already happening.
Last year, Tommy Hilfiger moved his shoppable video into reality. During his Fall 2017 Rockcircus “See-Now, Buy-Now” runway show, he effortlessly meshed augmented reality with shopping. After the show ended, shoppable videos of all kinds were plastered across the brand’s digital space to continue the advertising efforts.
Videos are creative pieces of content, so they should be used in creative ways. Facilitating the shoppable aim through direct video marketing has shown to not only increase sales, but establish brand loyalty and drive customer satisfaction. Simply put, it’s how the future will shop.
If you have questions on creating a shoppable video, give us a shout, We can help you get something in motion.