For any marketer who needs to prove to a client that online video drives sales, download this report and keep it handy: Invodo, a company that creates ecommerce video tools, has released its Q1 2014 Benchmark Report on the effectiveness of online video.
Online shoppers who view an online video related to a product are 1.8 times more likely to buy that product. That stat alone shows that online video marketing is worth the investment. When people shop in physical stores, they can touch or try out the product before buying, letting them see if the product meets their needs. Online buyers need a little extra encouragement, and video provides it.
Shoppers watch most of the product videos they see. Invodo notes that 65 percent of online shoppers watch product videos 80 percent of the way through. That means shoppers are paying attention and engaged. It means marketers don’t have to stuff their message into the first few seconds. This stat has stayed constant over the last few quarters, Invodo says.
Be sure your product pages support video on mobile devices, because if they don’t you’re missing out. Invodo finds that 31.7 percent of all ecommerce videos are viewed on smartphones and 5.6 percent on tablets. Sometimes people shop online when they’re in a physical store comparing prices. Videos need to play on every platform. Invodo says it expects mobile ecommerce video viewing to grow.
Online shoppers consistently rate ecommerce videos as helpful, Invodo says. In the first quarter of 2014, 77 percent of ecommerce video ratings were for 4 or 5 stars.
Invodo collected its data by looking at the videos hosted on its platform in Q1 2014. For more video ecommerce stats, download the full report for free.