Do you use online video to drive sales? New research says you should. Consumers expect videos, and they use those videos when deciding what to buy.
This time last year, Invodo and The E-tailing Group came out with an excellent study called Delivering Superior Shopping Experiences via Video that quantified exactly how useful online video is for online shopping sites. Well, the two have partnered again, this time on How Consumers Shop with Video, which charts the rise in importance of online sales videos in the last 12 months.
The study tracked the use of sales videos all through the purchase cycle. For example, it asked consumers how many product videos they had watched on retail or brand websites in the last three months. The number of people watching between one and four videos actually declined in the past year. The number watching five or more, however, rose.
Not only are shoppers looking more often at sales videos, they’re looking at the same videos more than once. The study asked consumers how often they viewed product page videos for major purchases prior to making their decision. Only 26 percent said 1 time. The biggest group watched videos twice (37 percent), while 22 percent watched them 3 times, 5 percent watched them 4 times, and another 5 percent watched them 5 or more time. Only 5 percent of those polled never watch product page videos.
There are several types of sales videos around, so which are the most effective? The study looked at how many minutes consumers spent on each type of video. The most popular are videos that educate about an entire category, such as How to Buy a Computer. Closely following that are product videos that include a demonstration, videos that support a brand’s value proposition, and product videos that talk about the product but don’t include a demonstration. While all four categories received interest, companies just starting with online video should focus on the first two.
Consumers look at online videos for consumer electronics most often, the study found: 40 percent of respondents had viewed consumer electronics videos in the previous 3 months. The next most popular categories were computer hardware and software, cars, music and DVDs, and clothing.
When sites offer online videos for their products, they give their customers confidence. The study found that shoppers who had watched a product video in advance were more confident in their decision. Furthermore, that confidence increased to 57 percent from 52 percent the previous year.
“Video’s impact on consumers’ decision-making and purchasing processes continues to increase and shows no sign of slowing,” the study’s conclusion notes. If you’re not supplying video for all of your products, it’s time to start.
For more results, download a free copy of the Invodo/The E-tail Group study (registration required).