Bottom Line: Online Video Increases Conversions
According to new consumer research from the e-tailing group and Invodo, 57% of online consumers feel more confident when watching product videos before making purchases online. This is an increase of nearly 10% over last year’s online video survey.
Confident shoppers are happy shoppers, and online video helps to create positive sentiments towards your brand. This feeling likely stems from video’s ability to show and demonstrate the product in a realistic environment: more than 2 out of 3 shoppers claimed that video helped them to understand how the product really works. It’s tough to buy something online without being able to try it out like you could in a store, but video helps to bridge that gap.
In addition, shoppers are also increasingly likely to be driven to purchase (40%, up from 31%), to purchase more (44%, up from 37%), and to shop again (45%, up from 41%) with retailers who provide online video. It also doesn’t hurt that increased confidence translates to reduced returns. All of these are great for the retailer – who can argue with more sales more often? And that’s not even taking the effects of a satisfied consumer, including positive reviews and brand loyalty, into account.