In the May posts regarding the Growth of Branded Content we talked about how despite the rise in both financial spend and consumption numbers, video was still an underutilised asset for many brands. Even though usage of video is increasing, in many ways that statement is still true when comparing the demand to supply. According to SundaySky’s quarterly report, 9% more retailers posted videos on YouTube in Q1 2011 compared to Q4 2010. However, the number of subscribers to online retailers’ YouTube channels increased by more than 20%.
Which covers only one source of video content. The biggest opportunity to embrace video content as a way to showcase products and boost e-commerce is the brand or retailer website. According to SundaySky “a staggering 68% of retailers are not yet exploiting the obvious and accessible rewards of using videos on their sites.” Combine video with SEO best practices and it is bound to equal big dollars, as the Zappos case study proves in the report. They generate more than $500K in incremental revenue simply by following video SEO guidelines.
Now imagine enhancing the e-commerce site experience to feature live video chat, like Lands’ End is doing to improve the online shopping experience. According to the Vice President of Customer Care Service, this has not only made the customer shopping experience more efficient and enjoyable, it has helped the bottom line as well. Regardless of the method chosen, the opportunities for brands to utilise video are plentiful, and the benefits are very tangible.
Want to read more? Check out these articles:
Online Videos Increase Traffic, Conversions for Retailers
Selling the Goods: Retailers Embrace Video as Virtual Sales People
Live Video Chat in Ecommerce Websites: The Future of Customer Service?
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