We’ve written a report to help retailers get more out of their online video, which you can download for free at the bottom of this page!
In June YouTube announced that it had hit the 3 billion views per day milestone and was receiving 48 hours of new video per minute. Gartner listed online video as one of the top ten strategic technologies for 2011. Yet most retailers are not using video enough throughout the customer lifecycle.
Your ability to drive revenue growth through online video relies upon your organisation looking beyond product videos, and taking a more strategic approach to online video. There is a growing body of case studies for how video can help improve conversion on product pages, but also mounting evidence of the areas in which it can prove ineffective. Online video in retail requires a holistic approach for success: one which looks at the different strategic objectives that can be achieved with online video across and beyond the user journey.
Of growing importance for retailers is the power of video search. Getting video search right involves optimisation just like natural SEO and Google Shopping listings. Surprisingly few retailers are currently optimising their video content for search, and yet videos are 50 times more likely to rank on page 1 of Google than standard search engine results.
Ultimately, the biggest factor in determining success is content. Giving people content that is useful, entertaining or interesting is the way to achieve success. This report focuses throughout on the importance of putting the customer and their interests first. Most people couldn’t care less what the back of a fridge looks like, but product videos that are irresistibly entertaining can become destination content in their own right and videos that are useful or interesting can help build revenue through increasing dwell-time, repeat visits and average purchase value. Videos that are compelling enough to share can help retailers reach whole new audiences with their content – but this requires investment in distribution as well as good creative ideas.
For many retailers, investing in online video strategy is a new concept. There are big benefits to be gained if the strategy is correct, and moreover if performance can be measured carefully and accurately. The final sections of this report will focus on how to interpret video metrics to make better decisions about your content and strategy.
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