More than ever before, media-savvy consumers expect your company's e-commerce program to deliver online shopping experiences that feature engaging video content.
But creating top quality videos and incorporating them into your multichannel commerce program is easier said than done. Though a well-executed video project can boost online sales and improve customer experiences, poorly made videos can drive consumers away from your products and negatively affect your e-commerce site.
For most e-commerce providers, the question isn't whether video content should be a part of the brand's e-commerce strategy, but how to harness video content effectively and efficiently, and in a way that generates measurable returns to the brand.
The Video Imperative in E-Commerce
High-quality video content improves the look, feel, and functionality of e-commerce websites. But beyond aesthetics, Web-based video assets have an impact on customer behavior, motivating site visitors to make more frequent and larger purchases.
According to a recent study by Invodo and the e-tailing group, half of all online consumers are more confident about their purchase decisions after viewing a product video. The conversion power of video is further demonstrated by the fact that two-thirds of consumers who watch product videos multiple times ultimately buy the product. As for the size of the sale, quality videos and site images have been shown to increase cart size an impressive 174%.
The presence of video content on an e-commerce website won't automatically generate higher conversion rates or larger cart sizes. Although the temptation to save money by producing videos in-house sounds appealing, internally generated video content often fails to meet consumers' expectations and incurs higher costs due to lost sales opportunities.
According to comScore, professionally produced e-commerce videos outperform user-generated videos 30%.